ABM Marketing
ABM (Account-Based Marketing) is a strategic approach that targets specific high-value accounts with personalized marketing efforts. It involves aligning sales and marketing teams to create tailored campaigns that resonate with the unique needs and challenges of individual accounts. By focusing on a select group of accounts, ABM aims to drive higher engagement and conversion rates.
4 Key excerpts on "ABM Marketing"
eBook - ePub- Malcolm McDonald, Beth Rogers(Authors)
- 2017(Publication Date)
- Kogan Page(Publisher)
...06 Understanding account-based marketing Contributed by Bev Burgess, Senior Vice-President of ITSMA One of the biggest conversations in business-to-business (B2B) marketing today is the impact of account-based marketing (ABM). Spending on ABM is booming. For more than 20 years, ITSMA (Information Technology Services Marketing Association) has been innovating in B2B marketing services. In this chapter, we are delighted to welcome our guest contributor Bev Burgess, Senior Vice-President of ITSMA, who covers the essentials that everyone involved in growing accounts should know about this focused marketing technique. A decade ago, defining account-based marketing (ABM) was easy. It was a relatively new strategic approach to create sustainable growth and profitability with a handful of a company’s important clients, bringing the mindset, skills and resources of marketing to individual account teams. It was a collaborative approach that engaged sales, marketing, delivery and key executives towards achieving the client’s business goals. Today, based on the great success of the early adopters, as well as changes in the broader marketing and technology environment, ABM is suddenly being hyped as the next great revolution in B2B marketing. Vendors and pundits are making great claims about ABM transforming all of marketing. You have seen the headlines touting five simple steps to apply ABM to thousands of accounts and similarly silly slogans...
eBook - ePubSmarketing
How to Achieve Competitive Advantage through Blended Sales and Marketing
- Timothy Hughes, Adam Gray, Hugo Whicher(Authors)
- 2018(Publication Date)
- Kogan Page(Publisher)
...It does require you as an organization to focus, which can for some organizations be scary as there can be a level of reassurance in throwing mud at the wall and hoping it will stick. The reassurance is in activity; if we are doing ‘something’ then that’s good, isn’t it? Given the choice between 200 leads that create nothing and one lead that converts to revenue, I would take the one lead every time. What is account-based marketing? According to Kogan Page’s A Practitioner’s Guide to Account-Based Marketing (Burgess and Munn, 2017) ABM is defined as: Treating individual accounts as markets in their own right. Then to position your company and its services with the aim of acquiring a greater share of clients’ business and earning continued loyalty… According to research by Ascend2 in January 2018, the number one reason that people implemented ABM was to align sales and marketing initiatives, followed by attributing marketing efforts to revenue. In the same report, such a plan was 95 per cent successful, which isn’t a bad success rate. What can be achieved with ABM? Most organizations look to ‘increase share of wallet’, that is enable the business to up-sell and cross-sell. It always being easier to sell to existing clients than to new ones. In the B2B world, companies often have multiple value positions to sell. Certainly in the SaaS world, solutions are sold on the basis of ‘land and expand’. This means sales teams sell a pilot or low-value system, often below the radar of IT departments or certain purchasing limits so that a solution is sold which then starts being proven to be a business benefit to that organization. Often this is a small point solution or solving a niche problem. The solution provided is run as a pilot; hopefully it will be a success, at which point you can expand. Building on the success of the project a supplier can start building relationships with other people and parts of the organization to work on the expansion...
eBook - ePubA Practitioner's Guide to Account-Based Marketing
Accelerating Growth in Strategic Accounts
- Bev Burgess, Dave Munn(Authors)
- 2021(Publication Date)
- Kogan Page(Publisher)
...In strategic ABM, account-specific content and thought leadership is ranked second, with executive-to-executive relationship programmes ranked third. Then comes paid social media and email marketing or e-newsletters. This last tactic comes second for ABM lite, after webinars and virtual events, reflecting the lower investment across a cluster of accounts. Programmatic ABM’s tactics are more similar to those used in segment- or market-based campaigns, as you would expect, with targeted digital advertising and retargeting and content syndication (rather than bespoke content) on the list. The tactics that work best in strategic ABM and ABM lite reflect the care and attention that is lavished on one account when you treat it as a market in its own right. The award-winning case study from Infosys demonstrates this through its approach, which the company calls ‘unmarketing’. CASE STUDY Account-based ‘unmarketing’ at Infosys At Infosys, strategic accounts are important, as over 97 per cent of the business is repeat business and the top 10 per cent of accounts deliver up to 80 per cent of revenue. Seeing this, marketing leadership realized that field marketers needed to become true ‘business partners’ to both sales and customers to drive sustainable account growth, accelerate opportunities and cultivate customer relationships. In addition to this mandate, Infosys needed a more focused way to challenge stereotypes and shift its reputation in the mind of its top clients from being just a transactional partner to being an active partner. To achieve this vision, the Infosys business unit and marketing leadership collaborated to identify the top 24 accounts with ongoing large deals that had both the potential to grow in revenue and the opportunity to deepen customer relationships...
eBook - ePubThe Marketer's Handbook
Reassessing Marketing Techniques for Modern Business
- Laurie Young(Author)
- 2011(Publication Date)
- Wiley(Publisher)
...Leading firms in a range of international industries no longer see this as just a sales strategy or a marketing programme. They are creating products or services, value propositions, marketing strategies and communications programmes for one major customer at a time. This approach seems to have evolved more forcibly in the past decade because company after company has realized that some of their customers have revenues that exceed the GDP of some nation states. Logic suggests that if they were entering a new national market they would resource it with an experienced general manager and a range of operational capabilities. It would be much more than just a sales emphasis and so their most important customers should have more significant resources than just account sales teams. Some companies in business-to-business markets have called this “Account based marketing” (ABM) but it remains to be seen as to whether this becomes a generally recognized term. Voices and Further Reading “Client-centric marketing is about managing client perceptions of your services and capabilities … to move client perception in a positive direction over the long term. The perception should be able to endure beyond changes in client personnel and changes in the company. Generalist approaches are no longer enough in today’s competitive market. No more going to big industry shows and trying to get clients to attend. This time, you customise the show, the roundtable and the thought leadership. You still have to do the big shows to create the awareness, but it’s no longer the basis of business to business services marketing – client or account centric marketing will be the model of the future.” Dr Charles Doyle, who initiated the original adoption of this technique at Accenture. Cheverton, P., Key Account Management. Kogan Page, 1999. Woodburn, D. and McDonald...
