Exploring the Benefits of Account-Based Marketing (ABM) Strategy

Companies are constantly looking for excellent strategies to reach their target audience successfully and stimulate revenue growth in the fast-paced world of today's marketing. Account-based marketing has become a significant strategy that enables companies to concentrate their efforts on high-value customers and provide individualized experiences. ABM has proven to be a cost-efficient strategy in marketing by focusing more on those likely to become clients rather than targeting the wider public at large.

What is Account Based Marketing?

If we are going to talk about ABM, we should first give a quick definition of what it is. It is a growth marketing strategy in which marketing and sales teams work together to create a personalized approach to targeting mutually identified high-value accounts in order to convert them into customers. It focuses on locating and interacting with key accounts that have the best chance of generating income and developing lasting business relationships. This is a skill intensive strategy and most companies usually outsource ABM.

Benefits of Account Based Marketing

• Personalized Approach

-ABM places a strong emphasis on customized solutions and individualized interactions, which improve the customer experience. Having that personalized approach creates trust and creates value.

• Short Sales Process

-Usually, multiple stakeholders are involved in significant buying decisions that usually start at a lower level in the business and move slowly up to the main decision maker. This usually slows down the sales process. This process is expedited in account-based marketing because all prospects are nurtured at the same time.

• Sales and Marketing Integration

-ABM promotes collaboration between marketing and sales teams; together, they identify target accounts, create tailored campaigns, and push individual accounts down the sales funnel.

• Less Resource Wasted

-Fewer accounts, only the ones that are likely to turn into sales, are given the attention and resources they need. Resources that either have been wasted are now freed up.

To conclude, account based marketing strategy focuses efforts and resources in a smart way, on those who are more likely to become customers. In fact, according to Alterra Group study, 97% of marketers achieved a higher ROI with ABM than with any other marketing initiative. We here at XYNC specialize in ABM. Contact us if you’d like to know more.