Account Based Marketing (ABM) is a B2B marketing strategy that focuses on working with key target accounts in a structured, measured way. This post will explore how strategic thinking is applied to accounts organization and communication, and detail common ABM strategies that businesses can use to grow their business.
Organizing accounts is the first step of a successful ABM strategy. This should be done according to the business’ top-level goals and values. For example, if revenue growth is the priority, accounts can be organized into ‘Platinum’, ‘Gold’ and ‘Silver’ tiers according to spend and spend potential. Alternatively, if the goal is to grow the profile by signing the ten biggest Fortune 500 clients, accounts can be organized by business size.
Good record keeping is essential for any size of business. A third-party software may be necessary to effectively manage accounts, track, measure and report results to the C-suite. Consider five questions to assess if an ABM solution is right for you.
Once accounts are organized, a marketing strategy should be created for each tier. Frequency, budget, logistics and resource should all be taken into account. Email marketing lists can be created to reflect each tier, and events should be used to develop relationships with top tier accounts. Direct mail and merchandising can also be used to make top tier accounts feel special. Personalization should be a key element of the strategy, and content should be tailored to each customer or account sector.
Account based marketing is a strategic approach to B2B marketing that requires thoughtful organization of accounts, record keeping and marketing strategies. By considering variables such as frequency, budget, logistics and resource, businesses can create tailored campaigns that will help to grow relationships with their best customers.
Originally reported by Martech: https://martech.org/account-based-marketing-strategy/
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