With so many marketing terms thrown around these days, one of the many questions you're probably asking yourself is "what is account-based marketing?"An account-based marketing strategy is focused on a single account and any decision-makers associated with it, rather than a single individual. Account-based marketing looks at the fact that most purchase decisions of a business are made by a group of employees and not just one person. ABM looks at each account as a unit, asking questions such as:
These questions allow the marketer to take in a full view of the account, which shows them who to talk to, what to talk about, and what the end result of the meeting should be.
Account-based marketing targets a group of people based on the interactions they make. These interactions are tracked by the marketer using the company's (or account's) IP address. Marketers and salespeople steer their efforts toward connecting with the accounts most likely to make a purchase or provide other value. Since your ads are based on the IP address, not on an individual lead, you do not have to have a previous interaction with the target in order to reach them with your ads.
Account-based marketing, or "ABM," is so highly targeted that it is sometimes referred to as "hyper-personalization," which means the process involves collecting information about hot leads, creating interesting and compelling content, and showing specific content to each website visitor at specific times. This also means your ads may receive fewer views, but the views they do receive are from the right people at exactly the right time. ABM lets you show targeted ads to leads in real time. Since ABM tends to target small groups rather than mass audiences, it is also a very affordable strategy to implement.
Implementing an ABM strategy helps businesses engage clients early on by providing personalized and targeted communication. This, in turn, increases the relevance of accounts and helps you get better value out of your marketing efforts. The most comprehensive account-based marketing strategy involves gathering a lot of information about each customer and their respective account, which allows marketers to provide tailored experiences for these specific accounts as a whole.
Now that we've answered "what is account-based marketing?," if you would like to learn more about how SimplyCast can help you implement this strategy, contact our team today!
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