Account Based Marketing-An Ultimate Overview

Account based marketing or ABM is one of the most popular marketing strategies in this 21st century. Experts have revealed that this marketing strategy can well surpass the traditional strategies in a year or so. This is nothing but a direct B2B strategy, where a business targets another business with personalized campaigns, in order to make them feel their existence. This is just another B2B strategy which clearly impacts on some pre-determined targeted accounts in accordance with their needs.

 

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Traditional lead generation marketing and ABM- The difference

It can be well said that these two are completely different styles of marketing, yet both are capable of bringing business for you. Here we will under the basic concepts if ABM with the view point of traditional marketing, so that it becomes clear to us.

  1. Leads vs Accounts: This is the basics of any account based marketing In the traditional ways of marketing, people were running behind leads. The businessman was not worrying about the conversion rates, as all they need were leads. You can well buy data and leads, but there is no surety that they will convert. Thus, in case of ABM, only the potential accounts are targeted, rather than running behind leads.
  2. New leads vs Good leads: As it is said earlier, it is not about how many leads do you have, it is always about how good your leads are. In the traditional way, the marketer used a number of ways to create the maximum number of leads. However, in ABM a virtual market is created and a personalized strategic message is thrown for the audiences. This does not confirm a great number of leads, but one thing is sure that these leads are utmost genuine and conversion rates are pretty high.
  3. Customers vs Fans: Let us assume, in the traditional lead generating marketing strategy, a client is converted into a customer. Your main motive will be satisfying the same. However, in case of account based marketing, a company tries to make the relationship stronger and make that customer their fan. In this way, more customers can be easily drawn with the past reputation.
  4. Sales vs Deals: The traditional marketing always runs after closing deals and make their sales higher. However, in case of ABM, sales does not matter, as they look for long-term deals with potential customers. This is the reason why ABM is not about leads, but potential accounts.
  5. Silos vs Alignment: Lead generating marketing is all about converting leads and transfer them to sales. Whereas, a complete balance between marketing and sales is found in ABM. As a result, a compact result is what is expected from this B2B marketing strategy.

It can be well said that account based marketing is one of the best B2B marketing strategies in the market. So, if you are not very fond of tracking your leads daily and need a good business, then this marketing strategy is for you.