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Marketing has come a long way. Marketers have gained more responsibility in generating revenue, showing an impact on revenue and meeting KPI’s. As such technology has become more efficient and with greater insight – elements that once were not possible. Account-based marketing (ABM) has become a well-versed term in creating an efficient approach at targeting valuable prospects and as a result generating greater revenue. 

The happiness and retention of a client today is no longer those of the past – drinks, and dinner ending with a cigar which doesn’t cut it anymore. Out with “Mad Men” culture and in with graphs and data.  The contentment of a client today is heavily weighted on their success. Your approach to getting there has to be more focused, detailed and with quick turn-around.

Understanding Account-Based Marketing

According to research from, The Harvard Business Review and Aberdeen Group, many companies’ sales teams, and marketing teams lack alignment. Companies that are the best in class carry this out well while companies that have not implemented ABM are falling short. While the marketing team is there to generate leads – MQL’s (marketing qualified leads) the sales team’s responsibility is to close a deal with those leads. Basically, bring in money. 

Account-based marketing (ABM) is a systematic approach for B2B companies to attain named accounts while mediating the sales process entirely. Which means in layman’s term, that sales and marketing teams need to work cohesively. 

Is Account-Based Marketing Considered a Strategy?

Generally speaking, marketing can generate demand and can be done in two ways: Lead-based marketing works much like the fishnet that catches fish – potential leads. Depending on the size of your needs, it will result in how many fish you catch and how large they are. Much like a fisherman with a net, marketing collects leads from those that were caught. Afterward, it tries to decipher which ones are more relevant to the company’s offering and are at the right stage to buy. 

While account-based marketing is much like spearfishing. Marketing targets of high-value accounts and trying to capture them. Just like a fisherman that uses a spear to hunt the fish he desires most. 

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4 Key Elements to Consider When Using ABM:

  1. key performance indicators (KPI’s) and how to measure these programs
  2. The role of social media channels in ABM programs 
  3. What best practices should be incorporated into an ABM initiative. 
  4. How to use video in ABM (Vidyard has an interesting post about how to use videos on social media but in a more personalized way). 

Can I Measure Success?

Once your strategy, allocated budget and ‘how to’s’ are aligned you can continuously measure and evaluate your ABM programs. Below are five different routes of measurement:

  1. Account engagement – How many of my ABM accounts actually engage with the company? 
  2. Pipeline velocity – Were my ABM accounts closing deals faster than others?
  3. ROI – Were my efforts profitable?
  4. Conversion rate – Transitioning from a lead to a sale.
  5. Deal size – Were my deals larger compared to none ABM accounts? 

To learn more about how to measure the success of your account-based marketing strategy (ABM) click here to read our e-book

Now that you have become more acquainted with account-based marketing we encourage you to read more about this exciting strategy and become a fellow expert in this revolutionizing field. We want you to feel motivated and step out of your comfort zone and try ABM today, because hey, coming back to shore with a net full of quality fish IS success!