Marketing’s goal has traditionally been to make anyone and everyone that might be interested in your service or product aware of your company. This leads to the obvious caveat that not all companies are created equally.
Large companies can afford to market with a broad brush in an attempt to reach more of the marketplace. Small businesses, however, do not have that luxury. This means they must focus on a certain geographic region or another strategy that is focused in nature.
So, what is account-based marketing (ABM), and what makes it different?
Why Is ABM Different?
ABM makes the marketing effort far easier by targeting specific company accounts and putting a marketing campaign in place that is meant to speak specifically to them. Best of all, there is no wasted marketing outlay, and automated efficiency is better than any human sales team.
In addition to focusing on your list of targets, you can find the specific titles or contacts of individuals. These can help to maximize your success through leveraging geographic location or revenue size; you are targeting particular people here, not specific companies.
Changing the Landscape
Let’s say, for example, you have a company that acquires a smaller company. That smaller company, entirely dependent on Google for leads, never knows if each click is coming from a single location, a consumer, a chain, etc.
With ABM strategy, you can better target an audience that fits the growth of that business better. This refinement of targeting can lead to more consistent leads because there are no wasted efforts on inefficient targets.
It’s akin to the way keywords have changed. Instead of trying to reach everyone – which results in low response numbers – the key is to target a specific audience. That narrowed focus allows for more refined audience targeting, focused on a strength instead of just hoping to get in front of as many eyeballs as possible.
While the latter has its benefits, the refined technique that ABM applies makes a huge difference.