ABM Strategy: What It Is And How It Will Activate Your Sales
Have you thought about starting an ABM strategy? Account – based marketing strategies are proving their power in the B2B environment. But why are more and more companies opting for ABM strategies?
- Thanks to ABM (Account Based Marketing) marketing, sales and marketing finally begin to work in the same team, improving the company’s business results. In fact, 87% of B2B marketers say their ABM strategy outperforms other company initiatives in terms of ROI.
- But as with everything, you have to start at the beginning. In this article we will talk about what ABM is. We will analyse if your company “is suitable or not” to develop a strategy of this type. Finally, we will explain how it can help you increase sales.
What Is ABM Or Account Based Marketing?
ABM (Account Based Marketing) or account-based marketing is a strategy that combines content, technology and commercial actions. In this strategic marketing technique we focus on specific accounts. This approach allows your organization to address each customer’s needs individually, rather than trying to sell to a larger, more diverse audience.
“Around 70% of B2B companies have dedicated part of their resources to developing programs based on Account Based Marketing.”
Due to its results, the ABM strategy has become fundamental within the dynamism that surrounds marketing strategies in organisations. About 70% of B2B companies have dedicated part of their resources to developing programs based on Account Based Marketing , showing that it is much more than a trending-topic in the world of marketing.
When And Why To Make An ABM Strategy?
Can any company do account based marketing? The answer is yes, but not all companies can expect to do well. Keep in mind that this is a strategy with high cost and customization. Therefore, your product or service must also have a high price, to obtain a positive return on investment.
When To Make An ABM Strategy?
- You are a B2B company. In general, the sales processes in B2B companies are longer and more expensive. In this sense, an ABM strategy is key to attracting new customers.
- Your Ideal Buyer Profile (client company) is a very specific type of company or belongs to a specific niche. In these cases, an ABM strategy is ideal because it is highly personalised.
- The lifetime value of your customers is high. How much income does an average client generate for you? If the figure exceeds an average of $15K, we can assess an ABM strategy. First, learn how to calculate your customer lifetime value.
- Different decision makers intervene in the purchasing cycle. If for a client company to acquire one of your products or services, the decision must go through various interlocutors, you are interested in an approach on account. In ABM you can generate a sales strategy at various levels (management, operations, finance…).
- Smarketing: sales and marketing working together. Taking sales to another level requires the aligned work of both departments. An ABM strategy takes this factor into account.
ABM Marketing Strategies For B2B Companies
62% of B2B companies surveyed in 2022 already had a full Account-Based Marketing program in place, compared to 41% in 2022, according to Today, 86% of B2B companies that do ABM say that thanks to this marketing strategy they have increased sales.
Also Read : What Is A Startup