Account-based marketing (ABM) targets key accounts focussing on specific companies.
Benefits of ABM
Godin in an episode of FlipMyFunnel podcast says “Marketing is the art of hitting the smallest viable audience.” ABM is top of the list for this goal. If done correctly it will:
- Increase ROI.
- Build a better relationship with key customers.
- Increase knowledge of what are key accounts and how they are performing.
- Deliver consistent customer experience.
- Expand the company’s business through key relationships.
Problems with ABM
ABM is usually part of the marketing strategy of large enterprises. The following problems can occur:
- Sales have more control of a marketing function and a silo can lead to a communication failure.
- Data in the CRM may be poor or out-of-date.
- Another software tool may be required.
Your company can:
- Include ABM as part of the Sales and Marketing Strategy
- Set up a method for the marketing team to be able to assess what is happening with key accounts
- Involve marketing in the selection of the key accounts.
- Obtain and use the right software.
The following software are examples of ABM Tools. A full list can be found at Trackita Catalog.