Account based marketing, or ABM for short, is one of the next-big-thing themes that has excited the marketing industry lately.
But even though it’s already something that everyone’s talking about, there doesn’t seem to be a great deal of consensus about what it actually is – some people are doing it without realising, some aren’t but think they are. What’s needed here is some answers and some clarity.
We think we have a pretty good grasp of what it is, and what it isn’t – and more importantly on how to use it.
You should think of ABM as a long-term strategy to ensure your sales and marketing teams work together effectively on strengthening your relationships with key accounts.
Although it has similarities with existing marketing activities – many of which you are probably already doing – there are some important differences too:
· It has to involve both sales and marketing;
· It is a long-term activity that builds results that extend over several years;
· It means simultaneously engaging with different roles and responsibilities within a customer organisation, based around content and conversations that are specifically relevant for each of them.
Although it is typically best suited to large enterprise size accounts, there are many aspects of ABM that can be put to work in mid-market and SME customers too. Similarly, although ABM in the purest sense ought to be seen as a long-term investment in a strategy that will deliver exponential results across a three-to-five year period, elements of it can deliver both focus and results in a shorter time frame, with the right focus and supporting materials.
We’ll be returning to the subject of ABM in more detail later in the summer. In the meantime, why not check out this blog post in which we wonder if one of the challenges of ABM is that although everyone might be doing it, no one really knows what it is.
Or if you’re being asked by your CMO or CEO whether it’s right for you, we can definitely help. So why not drop us a line?