Account Based Marketing
ABM is a marketing strategy that was developed in the early 2000s. However, even though this marketing strategy has been around for a while, it has only really started to take off in recent years. Account based marketing has become so popular that it is now recognized as a category on third-party websites like G2, Forrester, and Gartner.
ABM is a strategy that calls for the redirection of marketing resources to focused engagement with a limited selection of target accounts. The ABM strategy requires an alignment between the marketing and sales team of a B2B business. This alignment is necessary for the development of effective account-specific messaging. The main advantage of ABM and its emphasis on communicating with target accounts as markets of one is the potential for higher revenues in a shorter period of time.
Traditional marketing strategies involve using marketing resources to “cast a wide net” when it comes to lead generation. On the other hand, the ABM strategy demands that a B2B marketing team works closely with the sales team to identify the best-fit customers. After the identification of these accounts, the next step is creating customized messages and campaigns for these target accounts.
There are many channels that B2B marketing teams can use with ABM, such as LinkedIn, direct mail, email, and web personalization. Many of the most important tools for ABM are available on LinkedIn. ABM on LinkedIn tools allow B2B businesses to integrate data from marketing and sales. LinkedIn learning account based marketing will teach B2B companies how to use tools on LinkedIn to deliver customized content to the right target accounts.
One way B2B marketing teams can effectively execute the ABM strategy is by following the TEAM framework developed by Terminus. The four elements of Terminus’ TEAM framework are target, engage, activate, and measure.
Target: Identify the best-fit customers and use behavioral signals to prioritize your account database. Centrally manage the account audiences.
Engage: Create and execute campaigns for the target accounts across every channel, such as LinkedIn and direct mail.
Activate: Use deep account intelligence and engagement-based AI to improve the response rates to sales outreach and help deals move forward.
Measure: Measure total influence on target account efforts, such as pipeline, contract value, revenue and deal velocity.
Demandbase, which was founded in 2006, is a targeting and personalization platform that serves B2B companies. Marketers are able to target their online ads to businesses identified using metrics and attributes like revenue, industry, products purchased, and customer status. Some of the services offered by Demandbase ABM include Facebook ad targeting, managed analytics consulting, and target account marketing. Demandbase’s platform allows B2B companies to execute an ABM strategy with sales and marketing.
While Demandbase is based in San Francisco, California, Demandbase serves customers internationally with Demandbase support and Demandbase training. For example, there is Demandbase Asia for B2B companies in Asia.
The Demandbase ABM platform allows for ABM audience creation, activation, management, as well as measurement. Some of the ABM tasks that can be executed through the Demandbase ABM platform include systems integrations, audience data analysis, and audience creation and management.
Demandbase provides a number of different training materials and resources through their blog and website. Their blog, in particular, serves as the Demandbase knowledge base for all features and functionality. Demandbase also offers ABM certification classes that will provide your marketing team with hands-on knowledge. The Demandbase ABM certification classes, Demand base ABM certification courses, and Demandbase courses can serve as a foundation for learning ABM for B2B marketing teams.
Chances are, you’ve heard of the saying “You must learn to walk before you can run.” A common mistake that many B2B marketing teams make is failing to learn the basics of ABM before putting an ABM strategy into practice. ABM represents a significant divergence from traditional marketing strategies, which emphasize casting a wide net instead of treating target accounts as markets of one. Therefore, it can be difficult for marketers to wrap their head around the concept of ABM at first.
When it comes to ABM, there is a significant amount of terminology to learn as well as internal adoption to practice. There is certainly a steep learning curve that your marketers will need to get through before they can effectively put ABM into practice.
It is also incredibly important to learn about the essential tools for ABM success. These tools include a customer relationship management (CRM) platform, a marketing automation software, and an active, polished presence on LinkedIn. Using the right tools can mean the difference between success and failure.
A CRM platform is an important aspect of any ABM strategy. The CRM platform will help you align marketing and sales and keep track of your contacts and accounts. Chances are, you already have a CRM platform in place. However, you may want to switch to a CRM platform that is tailored for ABM. The purpose of the marketing automation software is to help you integrate marketing and sales. The software will also aid your marketing team with the management of ABM campaigns. B2B marketers should learn how to take full advantage of the analytics often built into marketing automation software. LinkedIn is one of the best social media platforms for B2B marketing and ABM. While there are many ways that you can use LinkedIn for ABM, the main feature that B2B marketers should know about is the LinkedIn Account Targeting feature. Other potential ABM technology and tools include analytics, ad serving, customer intelligence, social media, account planning, personalization, and progressive profiling.
Not only should your B2B marketing team learn the ABM basics and the ABM foundations, but they should also learn the best practices for ABM. Knowing the best practices will make things easier for your marketing team.
While it is possible for B2B marketers to learn the basics of ABM by using various resources on the Internet, taking ABM classes is one of the best ways to gain a solid foundation for all things ABM. This is even more true if you take a course taught by an ABM expert like Sangram Vajre.
Currently, Vajre is offering an intermediate course on ABM called Account-Based Marketing Foundations. Those who take this course will learn the fundamentals of ABM. This course also introduces the TEAM (target, engage, activate, and measure) framework and explains how to best select the tools and accounts to execute ABM well. Sangram stresses quality over quantity. By taking this course, marketers will learn how to craft quality content and analyze the results of the efforts to ABM. At the end of the course, Sangram walks through case studies to show how the TEAM framework works in action.
There are many other ABM certification foundations course, account based marketing coursera courses, and ABM online courses available. Many of these courses are available online for free. However, there are also courses that you will need to pay for. Some ABM vendors offer certification courses to their customers.
Not only should you consider having your B2B marketing team take ABM classes, but you should also consider having them attend industry events, such as Topo Summit and SiriusDecisions. These events and conferences are typically held every year. Therefore, if you don’t get a chance to attend one year, there is always next year.
Overall, ABM events and conferences are excellent opportunities for meeting marketing leaders and ABM experts. You don’t have to send your entire marketing team to these functions. Instead, you can send one or two people to represent your company. They can take notes throughout the event and inform the rest of the team of their findings. Of course, depending on the topic of the event, you may want to send the whole marketing team. For example, if a conference is offering free training on the basics of ABM, this is an opportunity that the whole team can take advantage of.