An account-based marketing platform can be a powerful tool for business-to-business (B2B) companies, helping them target and market their key accounts more effectively. However, not all companies need an ABM platform – it depends on your business size and specific needs. In this article, we'll take a look at some of the factors you should consider when deciding whether or not an ABM platform is right for you.If you're not familiar with account-based marketing, it's a strategy that focuses on targeting specific accounts/companies rather than individual leads. This means that instead of trying to reach as many people as possible with your marketing messages, you focus your efforts on a select group of high-value accounts.ABM platforms help you to more effectively execute an account-based marketing strategy by providing features and tools specifically designed for this purpose. For example, most ABM platforms will include features such as account-level reporting, targeted content delivery, and lead/account scoring. If you need help building your ABM strategy check out our comprehensive guide to ABM strategy.ABM platforms also tend to be more expensive than other types of marketing software - so before you decide to invest in one, you need to make sure it's the right fit for your company.So, do you need an ABM platform? It really depends on your specific needs and situation. Here are a few factors to consider when making your decision:
The size of your business – If you're a small business with a limited marketing budget, an ABM platform might not be necessary. You can likely get by with using traditional marketing methods and a CRM system. However, if you're a larger company with multiple sales teams and a large marketing budget, an ABM platform can be a valuable tool for more effective targeting and marketing to your key accounts.
The complexity of your sales process – If your sales process is relatively simple (e.g. you sell directly to customers), an ABM platform might not be necessary. However, if your sales process is more complex (e.g., you sell through channel partners), an ABM platform can help you better target and market your key accounts.
Your marketing budget – If you have a limited marketing budget, an ABM platform might not be the best use of your resources. However, if you have a larger budget and are willing to invest in a more targeted approach to marketing, an ABM platform can be a valuable tool.
Total Addressable Market (TAM) – If you have a large addressable market (e.g., you sell to businesses of all sizes in multiple industries), an ABM platform might not best use your resources. However, if you have a smaller addressable market (e.g., you sell to mid-sized companies in a specific industry), an ABM platform can help you better target and market your key accounts.
Your company's goals – Finally, it's important to consider your company's overall goals when deciding whether or not an ABM platform is right for you. If your goal is to increase sales and market share, an ABM platform can be a helpful tool. However, traditional marketing methods might be more effective if your goal is to build brand awareness or generate leads.
What are some examples of companies that benefit from ABM?
ABM can be a valuable tool for companies of all sizes, but it's especially well-suited for larger businesses with complex sales processes. Here are a few examples of companies that have used ABM to improve their results:Herff Jones – Herff Jones used ABM to create over 600 personalized digital experiences for their clients.So, should you use an ABM platform? It really depends on your specific business needs and situation. However, if you're a larger company with a complex sales process and a large marketing budget, an ABM platform can be a valuable tool for more effective targeting and marketing to your key accounts. If you need more information on a platform to help you with ABM check out how integrating a DXP can help.