What is Account-Based Marketing?
It’s a term that has been gaining momentum lately, but what exactly is it?
ABM is a strategy where your B2B company can deliver highly-targeted ads to new accounts that have interest in your product or service. No longer do sales and marketing operate independently with different goals and tactics. With ABM, sales and marketing work together to reach a group of decision-makers with customized copy and minimal spend.
How does it work?
Real-time ad buying as well as IP-based identification and targeting.
You can measure who is coming to your site, how much interest they have and what company they represent. Then you can cater your messaging specifically to this group with increased efficiency and effectiveness, by showing your targeted ads to a group of decision-makers at the right time. Unlike the tracking that we’re all too familiar with, where cookies target individuals who have visited your site, ABM does the opposite by using an IP address to target an account. Therefore, no previous interaction with your site is necessary for you to reach a desired lead.
Who is doing it?
Demandbase is one of the leaders in B2B account-based marketing due to their advanced IP-mapping technology. According to them,
- 72% of B2B companies that are currently using ABM are planning to boost their ABM initiatives over 2016.
- 61% of B2B companies that have an ABM plan want to invest more in technology this year.
- 91% of B2B marketers using ABM have seen an increase in alignment between their sales and marketing teams.
- 96% of B2B companies confirm that ABM has made a significant impact on their marketing efforts.
What are the Pros and Cons?
- Real-time ad buying: Go further with your advertising dollars by having a highly-targeted ABM plan.
- IP-based targeting: Customize your ads to your target audience, even though you haven’t interacted with them before.
- Automated system: After the initial setup, you can run and review your programs without making a lot of changes.
- Easy implementation: All you need is some IP mapping; no advanced integration required.
- Reduced resource waste: The ability to highly target a new account means less time and resources managing your marketing programs that have a wider net.
- Early adopter stage: Although account-based marketing has been around for a couple of years, companies are just now starting to implement it in their strategic planning.
- Manual work to setup: Reduce your setup time and stress by reaching out to a vendor that has the means to map IP addresses. Keep in mind that most vendors will use a pooled IP lookup tool, which isn’t going to identify a particular IP address every time, so check with them to make sure you can identify each IP address.
- Additional costs: To get it up and running, you’ll need to invest in another platform.
Where can I learn more?
- The 5 Things to Know About Account-Based Marketing
- What Is Account-Based Marketing (ABM) and Is It Right for You?
- Account-Based Marketing: New Buzzword Or New Reality?