Account-Based Marketing
Account-based marketing
or in short ABM, known as key account marketing also, is referred to a
strategic approach to market business based on account awareness. Here, the
organization considers and communicates as markets of one to its individual
prospect or customer accounts. It is typically employed in sales organizations
belonging to the enterprise level.
ABM helps companies to
increase their account relevance; engage in deals earlier and higher; align the
marketing activities with the strategies of the sales team; get the best value
out of marketing; inspire customers with compelling content and to identify
specific contact areas at specific markets belonging to a specific market.
ABM brings together
industry, product/service or channels like direct, social or PR to focus on
individual accounts. As the market becomes more commoditized, customers can
only see little or no difference between the suppliers and its competitors
regarding price as the only obvious differentiating factor.
There are various
frameworks for ABM campaigns but the general approach includes creating a
strategic framework, planning workshop, research, then creating a plan and
executing it and finally conducting a review.
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