Account-Based Marketing

What is Account-Based Marketing?

Account-based marketing (ABM), sometimes called Key Account Marketing, uses various data sources to improve B2B marketing. The “account” in ABM refers to the target company as a whole; it uses not only company data but also crucial information on the key decision-makers within the company who are not always in the purchasing departments.

Why Is It Important to Have an Account-Based Marketing System?

With ABM, B2B companies can target leads that need your product or services and have expressed buying intent. Further, by reaching out to the people who actually make buying decisions in the ways they best respond to, companies increase ROI much faster.

What Internal Data Should I Have for a Good Account-Based Marketing System?

An effective ABM system begins with transaction data and web traffic data. Marketing teams will then be able to build an Ideal Customer Profile: a B2B customer profile for use as a targeted marketing guide.

Marketers might also use their company’s inbound marketing strategies for account-based marketing; since B2B leads have already expressed interest in the company’s services, the marketing approach is similar.

What External Data Is Essential for a Good System?

Essential external data for a good ABM system must include company data (which includes firmographics, technographics, and employee data), intent, online engagement, and cross-device identity data. Companies should also monitor their own brand health and perception, to ensure they remain an attractive resource for other companies.

What External Data May Prove Useful for a Good System?

Additional external data that B2B marketers may find useful include market trends as well as economic and industry-specific data.

What Are the Main Challenges of this Use Case?

Crafting an Ideal Customer Profile is one of the most important and, therefore, difficult aspects of account-based marketing. It is, however, malleable, so if it does not provide enough of the right kinds of leads, it can be changed.

Another challenge is ensuring that the data remains accurate. Company employment data, in particular, changes often and without warning. Trying to sell to someone who no longer occupies their position in a company does not inspire confidence in the target company as a whole.

Interesting Case Studies and Blogs to Look Into

Marketo: Account-Based Marketing
Sales Intel: 4 ABM Mistakes to Avoid

Tangible Examples of Impact

A whopping 81% said that across industry thought leaders, analysts, and influencers, there are inconsistent definitions of ABM – only 19% said they’ve seen one definition, and 7% said that they’ve “seen too many definitions to count.”

MarTech Series: Study: Confusion About ABM May Hinder Adoption