Account-Based Marketing (ABM) is a crucial component in B2B Marketing. In the B2B space, businesses must think in terms of target accounts to market and sell to. Demandbase defines ABM as:
Per the diagram above, traditional marketing relies on attracting a broader audience and then identifying target companies associated with that audience. ABM, on the other hand, starts with the list of target companies and focuses efforts accordingly. This list is generally agreed upon between the Sales and Marketing departments and can vary based upon the company. For example, it may be generated based upon "firmographic" attributes (e.g., target industries and revenue ranges). Alternatively, companies may leverage Artificial Intelligence to identify companies that are displaying in-market intent signals. Demandbase offers this functionality in their Account Selection solution as a part of their ABM Platform.
Once the target accounts have been identified, Sales and Marketing teams can focus their initiatives accordingly. Marketing can leverage ABM technology to attract key decision makers from in-market target accounts onto the company website. They can analyze website engagement patterns by account and provide this intelligence to the Sales team to inform their outreach. Furthermore, each visitor's website experience can be personalized based upon the company they work for. If that company is a current customer, for instance, a call to action to potential upsell solutions can be displayed. If the company is a prospective customer, information on customer case studies from the company's industry can be brought to focus. With the power of ABM, B2B focused businesses can target and close accounts much more efficiently.
Account-Based
Marketing is used by B2B marketers to identify and target the accounts they
value most. ABM solutions typically include account-based data and technology
to help companies attract, engage, convert and then measure progress against customers and
prospects.
Drift illustrates ABM as an inversion of the traditional inbound marketing funnel (depicted below).
Per the diagram above, traditional marketing relies on attracting a broader audience and then identifying target companies associated with that audience. ABM, on the other hand, starts with the list of target companies and focuses efforts accordingly. This list is generally agreed upon between the Sales and Marketing departments and can vary based upon the company. For example, it may be generated based upon "firmographic" attributes (e.g., target industries and revenue ranges). Alternatively, companies may leverage Artificial Intelligence to identify companies that are displaying in-market intent signals. Demandbase offers this functionality in their Account Selection solution as a part of their ABM Platform.
Once the target accounts have been identified, Sales and Marketing teams can focus their initiatives accordingly. Marketing can leverage ABM technology to attract key decision makers from in-market target accounts onto the company website. They can analyze website engagement patterns by account and provide this intelligence to the Sales team to inform their outreach. Furthermore, each visitor's website experience can be personalized based upon the company they work for. If that company is a current customer, for instance, a call to action to potential upsell solutions can be displayed. If the company is a prospective customer, information on customer case studies from the company's industry can be brought to focus. With the power of ABM, B2B focused businesses can target and close accounts much more efficiently.
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