Account Based Marketing (ABM) is a concept that has received a great deal of buzz from the marketing world. As you know, ABM is part of a 1:1 process that has replaced mass marketing. Specifically, organizations now are trying to sell more solutions to once customer at a time.
As markets become more competitive, clients see little delineation between brands. ABM is the latest trend to try and find that differentiation and many companies are starting to see the long-term value from the practice. According to the Marketing Practice Decision Maker’s Index, “77 percent of decision makers say that marketing from new suppliers is poorly targeted and makes it easy to justify staying with their current supplier.
So crafting messages to specific clients will make you downright buzz-worthy!
ABM may be a hot trend, but we contend that it’s simply the natural progression of how to interact with customers. With all of the power existing with the consumer and the decision makers within the B2B world acting more like B2C professionals, it makes sense that the role of sales and marketing changes and aligns.
Due to time restrictions, people would prefer to find partners by themselves rather than being called upon. ABM treats each account individually, allowing the company to address the audience with more relevant content than an un-targeted direct marketing activity. In addition, it enables the company to expand its connection within an account and cements that connection in various parts of your organization.
ABM underscores the need for marketing to take a more active role within individual accounts and align with a sophisticated sales team in serving that client. Clearly, both marketing and sales have changed over the last 10 years. But the on thing that will never change is the importance of aligning your efforts to better understand and serve specific customers.
As jobs morph, people will need to adapt. Many of our future roles don’t even exist today. That’s why it’s important to incubate new skills and talents within your current organization.
We dedicate some space to this topic in our current issue of Connect Magazine. Our cover story “Home Grown” shares a few ideas on why and how to cultivate talent that will serve you for years to come. Our second feature “Crash Course” shares insights on current marketing tools.
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Meanwhile, good luck, good marketing and good selling!