What is Account Based Marketing?
ABM centers around the idea that business decisions are made by consensus, not individuals. This aligns with recent research indicating that, on average, up to seven people are involved in large purchasing decisions. With so many people involved, often from different departments and bringing their individual concerns to the table, it can be hard for marketers to get face-time with everyone included in the decision-making process. Even if you have contact information for a warm lead, it is unlikely that you have contact information for every other decision-maker or influencer involved in the process.
How Does Account Based Marketing Work?
While this ability to bulk target has typically been reserved for B2B marketing in the past, new technology means that ABM can now also be applied to B2C companies where there is more than one decision-maker or influencer living in the same house. Colleges and universities provide a great example of this in action. Rather than targeting potential students (decision-makers) and parents (influencers) with two separate programs, marketers can now consolidate their efforts. Similarly, B2C retailers can also apply elements of ABM to reach multiple decision-makers and influencers residing at the same address.
Is Account Based Marketing Right For You?
Marketers using ABM have cited higher returns on investment with ABM over any other targeting method. When combined with your current inbound or outbound strategy, or used as a stand-alone program, ABM can more effectively and efficiently help you to target:
- A few large, key accounts
- Similarly-sized companies in a specific industry or segment
- A specific niche
- A specific account or company
- Key customers to retain and expand your existing relationship
To uncover opportunities for using Account Based Marketing to improve targeting and improve ROI in your business, call Brilliant Metrics at (800) 940-8964 or schedule a call today.