3 Types Of Account-Based Marketing

Account-Based Marketing is a strategic marketing program that focuses on a clearly defined set of accounts. This is a move away from casting a wide-net, or demand generation approach to marketing. It uses targeted campaigns designed to appeal to the specific attributes and needs of the account. And is growing and building popularity among industrial companies not just through ROI but better sales and marketing alignment and greater customer insight. You’ve probably heard about Account-Based Marketing, but it still feels a bit daunting and you may wonder if it’s even right for your business.

There are three different types of Account Based Marketing (ABM) – they are:

1 – Programmatic ABM

Focuses on one-to-many account targeting. This method is less resource-intensive, with one marketer working across hundreds of accounts.

2 – Lite ABM

This is a one-to-few model focused on small groups of accounts, usually five to 10 at a time. Marketing programs and campaigns target those accounts’ shared business attributes, challenges and initiatives.

3 – Strategic ABM

This is the original ABM approach executed on a one-to-one basis. With this strategic method, the focus is on building stronger relationships with customers. It uses targeted marketing interactions and a tailored plan that demonstrates in-depth knowledge of the business and its issues.

You can perform Account-Based Marketing at any level and to any number of accounts, but the best way to reap the rewards is to interact on an individual level. You need to have a detailed understanding of the account in order to create a flow of personalised and customised communications. Truly tailored communications – whether that’s content, a promotion, an event or something more unusual can only be created once you’ve dived into the needs and challenges of this account. Programmatic ABM will allow you to do this in a systematic manner by working on the things that matter first to then deliver scalable revenue with your sales team. 

The key factors to consider to be successful comprise:

• Alignment -> starts with key stakeholder buy-in from your marketing team, sales, and executives. Once you have secured this the majority of your efforts will be to maintain your relationship with sales. Alignment needs to be underpinned with formal processes – aligned objectives and targets.
• Account Definition -> the best chance you’ve got of winning relies on the quality of the account identify.
• Data and Insight -> data accuracy is the key to success. The information must be reliable and current.
• Set Objectives -> start with aggressive objectives. These could be: grow the deal size; improve the win rate, win new business, improve customer insight, or improve relationships and the brand.
• Content Execution -> don’t rush into content delivery before you’ve properly examined your account. You need to understand your key stakeholders in detail.
• Run a pilot -> Test, learn and improve. With a pilot this is possible – allowing for failure to take place. You will learn from your mistakes and get better next time.

Account-Based Marketing is not a one-time marketing activity, but something that every industrial brand should do on-going. This article is about “setting and smashing your targets” with Account-Based Marketing. To do this, you will need to consider adapting your approach to marketing to hit new levels for your industrial brand.

Related: B2B Marketing Content That Connects

Other Reading: What you need to know about account-based marketing

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ABOUT THE AUTHOR

Peter Zafiris is an industrial marketer and founder of Industrial Ideas. Having built his experience in B2B marketing from the ground up, Peter understands what it takes to succeed with your marketing strategy. All client projects are personally managed by Peter to help industrials like you get the return on investment you deserve. Peter and team, work hard to become an extension of your business, to help you get the most out of your marketing efforts. Get your free 30 minute marketing consultation to learn more.