Are you using account-based marketing (ABM) to reach new business-to-business (B2B) prospects and generate more sale? Also known as key account marketing, ABM is a methodology in which a company or salesperson strategically targets prioritized accounts with personalized, customized marketing messages. Rather than using the same marketing message for all accounts, for instance, B2B salespersons can create custom-tailored messages for high-value accounts.
While ABM requires an investment of your time, energy and resources, it usually pays off in the long run. According to a study conducted by Alterra Group, for instance, 65% of B2B marketers say ABM offers "significant benefits" when used to attract new customers. This shouldn't come as a surprise, however, given the fact that ABM allows for personalized marketing messages. When you're able to create personalized marketing messages, it usually generates a stronger response by the target audience.
As explained in this Forbes article, another benefit of ABM is the ability to target a company's decision makers. This is particularly important for B2B marketing, as decision makers are the ones with the authority to make purchasing decisions. If you target lower level employees, you may struggle to convert them into customers simply because they don't have the authority to make purchases. ABM, however, eliminates this problem by allowing you to focus your sales efforts on prospects who can make these decisions.
The same Forbes article cited above also mentions faster sales processes as being a benefit of ABM. Normally, there are multiple stakeholders involved in the purchasing process. ABM allows you to target these stakeholders and convince them to buy your product or service; thus, reducing the same it takes to make a sale. These are just a few of the benefits of using ABM for B2B sales. You'll probably discover other benefits once you apply this methodology to your company's sales strategy.