Investor, Sales and Marketing Pioneer, Author, Technology Champion, Philanthropist, Leadership Mentor
Building a list of value based priority accounts helps marketers in goal setting, resource allocation and determining an approach for each targeted account that eases 80% of marketing efforts.
(Excerpts from the book, “The New Frontiers of Marketing”)
84% of marketers have experienced significant benefits of Account Based Marketing strategy in retaining and expanding existing client relationships.
Your customer can be anyone. Any customer means any person or group of people with varied choices, tastes, behaviour, likings, purchase pattern and expectations. This suggests that your customer list should not be devoid of customer profiles that identify their unique attributes and data backed by previous purchasing records. This will determine your future target accounts.
Setting up an Account Based Marketing (ABM) Strategy
Account Based Marketing is a strategy to uncover the insights from entire customer lifecycle of a targeted group of customers and then setting up of specific set of accounts to support optimum revenue outcomes. With a strategic marketing approach, a universe of accounts can be defined based on purchase, revenue & account history, profitability and account history. This can help marketers determine post-sale and pre-sale customer lifecycle, objectives loyalty history and informed decision-making based on specific accounts.
An Account Based Marketing (ABM) program exhibit in-depth knowledge and understanding about your customers and businesses. Simultaneously, this method also guides marketers to gain insights on what strategies they should apply to get the desired outcome and value on a long-term basis from specific target accounts.
How ABM Program aligns sales and marketing efforts?
Deployment of ABM program projects the functional ability of the marketing campaigns to close sales that intensifies the collaboration between the sales and marketing efforts. This urges collaborative efforts of sales and marketing teams to target new accounts with a collective consensus.
It’s a no-brainer that NOT all customer accounts can drive the same desired results. A single customer might be a decision-maker but not an influencer or the product end-user. Alternatively, the person might be the user but not the decision-maker or an influencer. This necessitates targeting your marketing at the whole account level of customers, rather than individual level.
What are the types of Account Based Marketing lists?
There are different types of list which you, as a marketer can use in different occasions depending on your specific organization needs. A few of them are listed here:
Want to learn more? Well, “The New Frontiers of Marketing” is a perfect guide that unveils the insights on solid action steps on how to start your own ABM program and identify the types of account based marketing with their own benefits. To know more about them, why not order a copy of the book now?