Account based marketing: is it hype or the future of marketing?
This form of marketing involves communicating with individual customers and treating them as their own individual market, carefully tailoring efforts to ensure the highest chance of success with that specific target; providing the ultimate in marketing.
ABM has its benefits in the reduction of overall cost as although it costs more to communicate with each account, you will likely be advertising to less as the success rate will be higher. By using appropriate content and messaging those that you do advertise to have a higher chance of choosing to buy as the messaging that that account receives will be much more appealing to them than mass marketing.
The first step in ABM is identifying which account, or accounts, you wish to target. Certain businesses are better targets than others, for example a business that used to buy from you but recently has swapped to another company. From here a specific plan must be created for each individual account. By getting data about the people you are targeting you will be able to create a profile for each account. This profile will aid you in creating a more personalised marketing plan that will be more likely to succeed as you will be able to gauge what will be most appealing to that account more accurately. Also identify what methods of ABM you can carry out. This could be a number of things from direct mail to making one of your webpages change when a specific account accesses it. Once you have started this process it is important to measure your success regularly so that you can adjust your plan if necessary and further increase your chances of success.
1 Stop Data can provide you with the valuable information that is needed for a successful ABM campaign. With a wealth of experience in Account Based Marketing 1 Stop Data is the global preferred supplier for the essential attributes needed for success including full contact profiles, with social media links, company demographics, and enhanced contact information.
To put it simply it is essential to have the right contacts with all possible communication routes plus industry and size targeting to get the right content to the right people and most importantly ensuring you have the most accurate, compliant data for you ABM.
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