Account-Based Marketing (ABM) has been seen as a strategy exclusively employed by large enterprises that are looking to acquire high-value clients. These types of companies have sufficient resources to invest in comprehensive ABM campaigns and analysis, such as choosing the right accounts, arranging highly personalised content, and having dedicated account teams. As successfully concluding a deal within the ABM model may take weeks to months, the patience and budget required for ABM align with the long-term growth plans of large businesses.
Therefore, there is a prevalent assumption that ABM is solely applicable by large corporations only. In fact, the ABM strategy can be customised to align with the needs and capacities of B2B companies of small and medium sizes. Here are key attributes of businesses that render account-based marketing a viable and effective strategy to adopt.
1. You sell complex products to niche markets.
Your market is confined to a select group of key players, and obtaining them as customers presents clear opportunities for substantial growth. To succeed with these deals, you need highly targeted, personalised marketing focused on the target accounts. As your resources are limited you would like to avoid spending them outside of your target audience.
2. You have a complex sales cycle.
You approach different people from the same company over a long period of time. Potential customers require detailed information and the decision is made on multiple managerial levels. Considering this, account-based marketing can be an ideal choice for tech and manufacturing businesses.
3. You are targeting high-value clients.
If your business depends on a limited number of key accounts that play a crucial role in generating revenue, implementing ABM can help you to concentrate your efforts on cultivating and strengthening these relationships.
4. Your offer is customisable.
Organisations that customise their products or services to align with the distinct requirements of target accounts will discover the high efficacy of ABM. This approach shows its efficiency through personalisation and the ability to deliver a distinctive solution to each client in response to their unique needs.
Conclusion
Account-Based Marketing isn’t designed only to serve B2B giants, it’s a flexible approach that can be tailored to accommodate companies of any size. The question if ABM is suitable for your particular business lies mostly in the nature of your business itself, and how you have to approach your potential clients. Whether you’re a large corporation targeting high-value clients or a small business aspiring to create a significant impact, ABM is a strategy to consider.
What's next for you?
Account-based marketing requires a consistent approach and long-term vision. Hyper-personalisation, timely followups and lead nurturing – is what nowadays requires Marketing Automation and CRM software. It helps not only to automatically track all important data about your accounts but also to implement and scale up personalisation and outreach. Contact our team at “Lead Gen and CRM” by Constant Contact for effective ways on how you can execute your ABM strategy in the most effective way.
