When to use Account Based Marketing?

by Brian Cooney | Last Updated: Aug 6, 2022

Account Based Marketing (ABM) is a strategic approach to B2B marketing that targets key accounts and tailors marketing programs specifically to them. The goal of ABM is to generate more revenue from fewer, bigger deals by developing relationships with key decision-makers at targeted accounts. There are a few different ways to define an account, but typically it includes all the decision-makers at a company who influence the purchase of your product or service. This could be the head of procurement, the budget holder, or anyone else who has a say in whether or not your product gets purchased. The beauty of ABM is that it allows you to get very specific with your marketing efforts. Instead of trying to reach as many people as possible with a generic message, you can create targeted content and campaigns that speak directly to the needs of your ideal customer. ABM is not a new concept, but it has seen a resurgence in recent years as more and more companies adopt an account-based approach to marketing. If you're thinking about implementing ABM at your company, there are a few things to keep in mind:

Define your ideal customer: Who are the decision-makers at your target accounts? What industries do they come from? What are their pain points?
Create targeted content: Once you know who your ideal customer is, you can create content that speaks directly to them. This could be blog posts, white papers, ebooks, or even webinars.
Personalize your outreach: In addition to targeted content, you'll need to personalize your outreach efforts. This could include sending personalized emails, giving them a call, or connecting with them on social media.
Measure your results: Finally, it's important to measure the results of your ABM campaigns. This will help you fine-tune your approach and make sure you're getting the most ROI possible.

ABM is a great way to get more out of your marketing efforts. By targeting key accounts and personalizing your outreach, you can generate more revenue from fewer, bigger deals. If you're thinking about implementing ABM at your company, keep these tips in mind when developing an ABM strategy.

When is ABM most effective?

ABM is most effective when your target market is limited in scope, and you have a deep understanding of their specific needs. This allows you to create targeted content and campaigns that speak directly to their pain points. ABM can be used in a variety of industries, but it's particularly well-suited for B2B companies. If you're selling products or services to other businesses, ABM can help you generate more leads and close more deals. If you're not sure whether ABM is right for your business, ask yourself these questions:

Do I know who my ideal customer is?
Do I understand their specific needs?
Is my target market limited in scope?

If you answered yes to all of these questions, ABM may be a good fit for your business. ABM is a powerful marketing tool, but it's not right for every business. If you're not sure whether ABM is a good fit for your company, ask yourself these questions.

What are the benefits of ABM?

Generate more revenue from fewer deals: By targeting key accounts and personalizing your outreach, you can generate more revenue from fewer, bigger deals.
Get more out of your marketing efforts: With ABM, you can get more out of your marketing efforts by targeting specific accounts and creating targeted content.
Improve your close rate: ABM can help you improve your close rate by giving you a better understanding of your target market and their specific needs.
Build deeper relationships with customers: ABM can help you build deeper relationships with your target accounts by personalizing your outreach and showing that you understand their needs.

ABM is a powerful marketing tool that can help you generate more revenue, get more out of your marketing efforts, improve your close rate, and build deeper relationships with customers. If you're thinking about implementing ABM at your company, keep these benefits in mind. If your looking for a more detailed analysis of the benefits of ABM check out our comprehensive guide.

What are the challenges of ABM?

There are a few challenges to consider when implementing ABM:
It requires a lot of planning: ABM is a strategic approach to marketing, so it requires a lot of planning and coordination.
It can be time-consuming: Personalizing your outreach efforts and creating targeted content can be time-consuming.
It's not suitable for all industries: ABM is most effective in B2B industries, so it may not be suitable for all businesses.

ABM is a powerful marketing tool, but it's not without its challenges. If you're considering implementing ABM at your company, keep these challenges in mind.

Where/When does Lumavate come in?

Lumavate is positioned as a potential solution/tool for ABM. One prominent use case is using Lumavate to create experiences for accounts stored in your current Martech stack. Lumavate also makes it easy to create targeted content and personalize your outreach efforts, and if you're thinking about implementing ABM at your company, Lumavate can help you with planning, execution, and measurement. Schedule a demo and get started with creating digital experiences today!

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