What is account-based marketing (ABM)?
Account-based marketing (ABM) is a marketing concept that is particularly popular in business-to-business marketing. With account-based marketing, B2B marketing gains whole new clout and adapts completely to customer behavior in the digital age.
Classic marketing concepts (e.g. advertising) were often designed to appeal to any number of people. It did not matter whether these people were already known to the company or not - a TV spot or a radio advertisement do not make a difference here. The classical communication was just "One-to-Many". Classic marketing (e.g. advertising or direct marketing) is also clear push or outbound marketing that does not ask whether the potential customer is interested in advertising communication.
In online marketing, too, most marketing instruments fail to establish an individual and targeted customer dialogue. Even online advertising, retargeting or social media can only rudimentary be targeted at individual target customers. All these marketing instruments are only suitable for B2B marketing to a limited extent. They are particularly unsuitable if only very specific customer companies that are on the wish list of marketing and sales are to be addressed. With account-based marketing, you solve this strategic marketing and sales problem.
Account-based marketing fully adapts to the needs of B2B marketing and especially to the fact that you want to address very specific companies without scattering loss.
What's more, account-based marketing allows you to differentiate between different people in potential customer companies and select them in such a way that only those people who make the decision to buy and influence the decision - the so-called buying center of the potential customer - are addressed. This buying center on the customer side can include different members of a B2B company such as the managing director, certain department heads, the purchasing department, or purchasing influencers such as personal assistants and secretaries.
Account-based marketing is designed to capture all these people, to provide them with content, and also to use the interactions between the members of the buying center to move the purchase decision in the desired direction. Account-based marketing uses marketing automation such as Marketo, HubSpot, Oracle Eloqua, Salesforce Pardot, SAP Marketing Cloud, or Act-On. Sometimes, it even makes sense to integrate specific account-based-marketing software add-on tools like Engagio, Terminus, or Bizible.