The history of marketing began thousands of years ago, for as long as people have had things to sell. Word of mouth or simple verbal selling both constitute as marketing efforts that are still used today.
In the 1400s, sellers began to use print marketing by placing ads in the paper. Magazines emerged in the 1700s and posters in the 1800s. In 1867, the first billboard was rented.
That being said, the marketing efforts of today can be much more complex and involve a variety of different approaches, just like account based marketing.
But what is account based marketing? Keep reading to find out all about it and why you should adopt it today.
What Is Account Based Marketing?
Account based marketing (ABM) is a marketing strategy. To engage a specific set of marketing accounts, it directs marketing sources to engage them.
It forces the sales and marketing teams to align. This is because personalization at the account level means that sales and marketing have to be in sync to generate higher revenues in a shorter time.
In ABM marketing, an organization will treat a prospect customer like its very own market. It’s marketing that’s based on a specific customer. ABM is perfect to use as a supplement to your existing digital marketing strategy.
What Are the Benefits?
ABM is personalized and ensures that your marketing campaigns are designed to specifically resonate with a set group of people or an individual. Rather than catering to a wide audience, it allows you to cater to that set group, which gives you a better chance that they’ll feel their individual needs are being met.
With Account Based Marketing, you’ll waste less time because you aren’t spending too much money on projects that have no clear business value. They focus on a set number of accounts that are already in an active buying stage.
It shortens the sales cycle. Because they target specific leads based on research and data, customers are more likely to want to hear from you. That way, time isn’t being wasted on grooming those potential customers.
By feeding demand with highly relevant information, you’ll be able to land key accounts and navigate complex deals more effectively.
By combining marketing and sales like this marketing company, there’s no lapse in communication. Furthermore, personalized buyers are much more open to outreach. Thus, they are much less likely to ignore your communications and content.
It’s Not “What Is Account Based Marketing?” but What It Can Do for You
If you’re still wondering what is account based marketing and what it can do for you, take a look at businesses who use it and how it’s generated more sales, in shorter amounts of time.
Mass marketing can generate new business, but with account based marketing, you aren’t just marketing on a whim. You’re focusing on individuals who need what you provide, and those are facts that are derived from research and targeting.
People are much more receptive to communications and content when it directly pertains to them. Don’t worry about replacing your already existing digital campaign. Add ABM as a supplement so that you can generate even more sales!