ABM is suddenly heralded as the upcoming big revolution in B2B marketing based on the early adopters’ tremendous success and developments in the more extensive marketing and technological landscape. ABM is being hailed as the marketing revolution by vendors and experts alike.
There are now more chances than ever to use ABM principles outside your top accounts. But one of the effects of all the hoopla is that people are becoming increasingly confused about what ABM is and isn’t. It’s far too simple for diverse stakeholders to downplay the potential power of ABM or mistake it for “simply good marketing” in the absence of clear definitions.
Three Types Of ABM
Companies have developed and implemented three varieties of ABM in recent years due to the rising interest in and demand for it: Strategic ABM, ABM Lite, and Programmatic ABM.
1. Strategic ABM: Developing and carrying out highly-tailored marketing strategies for specific accounts.
This initial ABM agency strategy is often applied one-to-one and reserved for strategic accounts. With Strategic ABM, account teams strengthen their bonds with a company’s most important clients and prospects through narrowly focused marketing engagements that thoroughly comprehend their problems. As a result, strategic ABM is most critically carried out with clients rather than for them to create value for both businesses.
With this strategy, a committed, senior-level marketer collaborates closely with one or more strategic or critical account teams on the sales side to create unique marketing plans and processes that are an essential component of each account strategy for each specific account.
2. ABM Lite: Developing and running programmes with little customization for groups of accounts with related problems and requirements
This one-to-few technique is often used with second-tier or strategically named account groupings. Instead of focusing on individual accounts, ABM Lite marketing programmes and campaigns typically target small groups of accounts, usually 5 to 10, with comparable company characteristics, difficulties, and initiatives (e.g., tier-one retailers shifting to a personalized, omnichannel operating model).
To best serve these one-to-few programmes and campaigns, collaboration with sales primarily focuses on essential decision points, such as which accounts to target, which business concerns to highlight, which propositions to push, and how to customize current content.
3. Programmatic ABM: Utilizing technology to expand marketing efforts that are specifically tailored for individual named accounts
This is the most recent method of ABM. By using programmatic account-based marketing, marketing can now generate, nurture, and measure leads on an account-based basis instead of just individually. The most recent technologies offer exact targeting, analytics, and customization across hundreds or thousands of identifiable accounts, making this one-to-many strategy conceivable.
Programmatic ABM is substantially less resource-intensive than Strategic ABM or ABM Lite because only one marketer needs to manage hundreds of accounts. It can also offer coverage far greater than the other two approaches. The company’s sales coverage approach can and should align with programmatic ABM. Companies utilize programmatic account based marketing automation (ABM) to target particular market segments (such as horizontal or vertical markets) or other collections of named accounts chosen from the entire market.
If they want to develop an effective plan, marketers aiming to build, implement, and expand their programmes must comprehend the distinctions and ramifications of each type. Additionally, they must ensure that sales and other stakeholders understand their ABM strategy. Use it with internal stakeholders; it’s a terrific tool.