The promise of Account Based Marketing (ABM) is to increase sales success by coordinating marketing and sales efforts for target accounts. The ABM concept is a departure from mass marketing that casts wide nets with generic messages. Instead, with ABM, marketing tailors messages to each targeted prospect account, making marketing activities more efficient to help sales close more business. More tailored experiences mean relevant information for each account and a greater likelihood that potential buyers find the information they’re looking for, speed through the initial stages of the buying cycle, and become ready to be contacted, nurtured, and converted.
For B2B companies with niche offerings and finite lists of target accounts, Account Based Marketing makes sense. Typically, for these companies, the target market is smaller, sales opportunities are larger, the sales cycle is longer, and the number of decision makers and influencers are more than a few individuals. Also, companies in niche markets may have few clients, so nurturing opportunities and expanding the client relationships is a how they grow. With a small number of ideal accounts to go after, marketing can work directly with sales using a targeted, laser-focused approach.
Whether companies are in a niche or not, or whether the goal is to acquire new clients, grow existing ones, or both, an ABM Revenue Strategy is needed.