Account-based Marketing is all the rage in the B2B world today and if you are wondering what it is all about, this post is just for you.
ABM stands for Account-based Marketing and it is a strategic marketing method that centers around marketing to a prospect or a customer considering it as a market of one. Imagine if you had just one customer - that’s it. Now think of all the ways you would market to this one customer and grow your revenue within that one customer. Everything that you do to grow this one customer - from sales & marketing & business development perspective - is called at Account-based Marketing.
Traditional marketing consists of activities such as PR, trade shows, channel, industry marketing and such other methods which are fundamentally targeted at a “group of accounts” and not any particular one of them. But as markets become competitive and commoditized, customers can’t differentiate between you and your competitors as the messaging all feels the same.
That’s exactly where ABM can play a huge role. With ABM, you can leapfrog your competitors by creating an “account-specific sales & marketing” plan that brings together all your resources and focuses them on educating, engaging, converting and growing that one account only. With ABM, you can
- increase your differentiation with your prospects
- create a personalized education of your decision makers
- engage early and engage across the organization
- create a larger revenue stream
- seal a longer term relationship
ABM manifests into specific tasks based on what your company is and who your customer is - but it brings together your complete sales & marketing firepower and applies it to one account at a time.
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