If you’ve spent any amount of time researching marketing strategies, you’ve probably heard of ABM.
You may have even heard that 87 percent of companies that use ABM have seen improvements to their ROI.
What does ABM stand for, though? Why should your business be utilizing it?
Read on to learn the basics of ABM and how it can benefit your business.
What Does ABM Stand for?
ABM stands for account-based marketing. Account-based marketing is a new approach to traditional B2B marketing.
It flips that sales funnel on its head and helps business create targeted campaigns to attract the leads that are most likely to become customers.
Instead of casting a wide net and capturing as many leads as possible, the purpose of ABM is to start narrow, with targeted leads who are more likely to be converted.
Why Use ABM?
There are many benefits that come with using ABM over traditional B2B marketing strategies. The following are some reasons you may want to consider it:
Easier Measurements
With ABM, it’s much easier for you to measure the effectiveness of your campaigns. Because everything is so specific, you’ll be able to tell much earlier on whether or not something is working. You’ll have an easier time being able to tell how well it’s working, too.
Less Waste
There’s less waste associated with ABM, too.
Because you do more research at the beginning, you know exactly what kind of marketing and sales strategies are most likely to be effective with the particular customer you’re going after.
This saves you from wasting time and money trying out strategies that are unlikely to work.
Less Risk
You also have less to lose when you utilize ABM.
With ABM, you’re going after the businesses that are the most likely to work with you. As a result, your chances of failing and having wasted time and money go down quite a bit.
Personalized Approach
The businesses you target with your ABM strategy will appreciate the personalized approach you take with your marketing materials and campaigns, too.
Because you’ll have done so much research on them, you’ll know exactly which tactics are most effective.
The people with whom you’re communicating will surely notice and be glad that you took the time to learn about them before reaching out.
Easier Sales Alignment
When you’re using this solution over other marketing strategies, it’s easier for you to align your marketing and sales teams. They’ll have a common goal and will understand why they’re meant to use specific strategies and sales approaches.
Remember, the more unified your whole team is, the better the results you’re likely to achieve.
Start Using ABM Today
As you can see, ABM is a great marketing technique that can help you grow your business and streamline your marketing campaigns for more long-term success.
Now that you have an answer to the questions “what does ABM stand for?” and “why should your business be utilizing it?” are you ready to take the plunge and get started?
If you want to learn more about ABM or other marketing strategies, be sure to visit the Sales and Marketing section of our site today.
