To implement a successful account-based marketing (ABM) strategy, B2B marketers have a big hill to climb. Building the foundation of an ABM practice takes time and resources, but doing the heavy lifting early on can drive long-term success.
What is account-based marketing?
Account-based marketing is a strategic, collaborative approach to marketing and sales that emphasizes quality accounts over sheer quantity of leads. Instead of trying to generate demand by casting a wide net, B2B companies that implement ABM target key accounts they want to sell to.
Where should companies start in adopting an account-based marketing strategy?
B2B companies should start with the fundamentals before rushing in and adopting a technology vendor. To execute an account-based strategy, B2Bs must manage their data, align with sales, get buy-in from executive leadership, select high-value accounts, perform deep background research, create custom content, and develop bespoke buyer journeys for target accounts.
What is the long-term objective of account-based marketing?
B2Bs adopt ABM to be more intentional and targeted in their marketing and sales efforts. Tracking immediate engagements is important and will help inform strategies in the short term, but the long-term indicators of success should focus on revenues. The goal of ABM is to move deals through the pipeline faster, increase closed/won rates, and grow average contract value over time.
WHAT’S IN THIS REPORT? This report will give an overview of ABM and dig deep into the fundamentals of building an advanced ABM practice.
KEY STAT: Most B2Bs have not implemented a mature ABM program where they can drive strategic growth, according to October 2019 research from ITSMA and ABM Leadership Alliance.
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