Believe it or not, it is possible to advertise to too many potential clients. This is based on a new method of promotion that proves that advertising to more people isn’t always effective. This new method of marketing is called account-based marketing.
Account-based marketing, ABM, aggregates sales and marketing so that each account is viewed as a market of one. This type of marketing personalizes campaigns and focuses on identifying needs and employing effective and efficient marketing solutions that nurture value and deepen customer engagement. A research conducted by the Altera Group found that 97% of marketers agree that ABM produces higher ROI than other marketing initiatives.
Account-based marketing is a smarter way to market because it allows you to collect an unprecedented amount of information about potential clients, usually long before they first contact you. With an ABM method, you’re smarter about potential clients because this method tells you who they are, what they need, and how you can meet their needs. Account-based marketing used to cost more to implement but with recent advances in technology, marketing automation, and marketing software, this method is now very cost-effective to implement.
Account-based marketing has become very popular in the last few years with 21% of companies having a full account-based marketing program and 70% of B2B companies focused on boosting their ABM programs. This ABM method has grown in popularity for many reasons. One of those reasons is because it enables businesses to track and measure clear goals. This is because ABM allows marketers to deal with a smaller set of data making it easier to know what strategies are working and which ones are not.
Another reason this method has grown in popularity is because it’s the most personal form of marketing that exists and it has been proven that customers that receive highly personalized promotions are much more likely to engage with and buy from a company. Also, ABM provides a clear boost in a company’s bottom line. This is because, according to a recent survey, ABM delivers the highest ROI of any B2B marketing strategy.
Account-based marketing not only helps eliminate wasteful use of company time, money, and talent, but it also brings sales and marketing together. This is because this method allows companies to deal with potential clients who have already been tagged as highly-likely to buy which allows them to spend fewer resources on unsuccessful leads. Also, marketers who use the ABM method think like salespeople which encourages them to work more closely with the sales team and contribute to closing sales.
Want to discover more benefits account-based marketing? Click on the link below to watch a quick video and to download the whitepaper 5 Benefits of Account-Based Marketing.