Account-based marketing (ABM) is one of the emerging business marketing strategies that use highly targeted, personalized campaigns to engage a specific set of target accounts. It is also known as key account marketing and complements both the traditional and short-term marketing goal of generating leads with efforts aimed at driving long-term revenue growth. A traditional marketing approach reaches out to a large group of people and then filters out the target group using various attributes. Account-based marketing uses the opposite approach. It first identifies the target group, uses personalised campaigns to engage prospective customers and then builds lasting relationships with customers.
Companies that are seeking to get specific high-value customers can use account-based marketing to engage and convert accounts in a very less period of time. This marketing method allows you to use particular attributes and needs to identify the right accounts to target. Want to know the benefits of using account-based marketing in your business?
Highest Return on Investment
ABM is precise and measurable. It provides the highest ROI of all business tactics currently used. Most of the marketers found that ABM delivered higher returns than other marketing approaches.
Personal marketing approach
In the early times, marketeers used only generic approaches to reach the customers. Now they conduct surveys about the various needs of the customers and create personalized messages for the target accounts. They also tailor the creative assets of their campaign to the customer’s specific attributes and needs. Key account marketing approach enables personalisation of marketing and sales campaigns.
Shorter Sales Cycles
As the key accounts are targeted and the campaigns are personalised, the chances of sales closure are higher when this marketing technique is used. Sales cycles become shorter, enabling the sales and marketing team to work on multiple accounts within a short span of time.
Less wasted resources
Time and resources are narrowly focused on a small number of accounts that are most likely to close sales. This method frees up resources that would previously have been wasted.
Every business gets numerous benefits by switching to account-based marketing. Maximise your returns and optimize your resource usage by adopting this practical marketing method.