Traditional marketing tactics are analogous to casting a big net in a giant ocean and hoping that stray fish just will happen to be where you’re casting your net, when you’re casting your net. Account based marketing on the other hand, is more strategic and involves a variety of tactics. I have heard it referred to as fishing with spears as opposed to fishing with nets but I don’t think this analogy is fully apt. Spearfishing would be one tactic of account based marketing but definitely not the crux of the entire concept. Using specialized bait, setting traps, and fly fishing would all be examples of account based marketing style tactics.
What Exactly Is Account Based Marketing?
Account based marketing simply involves targeting a small number of high value prospects within a niche as opposed to trying to market to an entire niche. In simpler terms, television and radio advertising as well as similar traditional advertising channels, are the antithesis of account based marketing. Their goal is to broadcast your advertising message to as many people as possible and play the numbers game that way. Account based marketing on the other hand, focuses on broadcasting your advertisements only to the prospects that have the highest propensity to become a sale.
At its core, ABM centers around turning each of your high value prospects into its own advertising market. Whereas with television or radio ads, you may buy ad space in say New York, or Chicago, with ABM, you design and run ads that target everyone that works at the the large 300 person business four blocks from yours, or the company that you know is currently trialing your competitor’s product. Notice how all of these examples refer to business sales? There is a very specific reason for this and it is the one caveat to ABM, it can only be fully employed as a B2B strategy, it does not fit as well into the B2C space. In a way, ABM is really the evolution of all of the new innovations that emerged post internet era in the B2C realm.
How Is This Applicable To Small Business Owners?
ABM really started to gain traction in the Enterprise level company space around 2014. Over the past year, there has been a 21% growth rate in its adoption, almost entirely among companies that are mid cap or larger.
The most interesting thing about this to me as a marketer though, is the fact that ABM tactics give comparatively more ammunition to smaller companies than they do to larger ones. Your overriding goal with ABM is simply to get your message in front of the specific person you want to get it in front of. The greatest thing about it is that this specific goal, only reaching a few people, also makes it amazingly cheap. So essentially, you have an effective, blueprinted strategy, that has been proven to be more effective at landing B2B business than any other approach, and with this approach you can effectively target a prospect for what amounts to couch cushion money. Do I really need to explain any further as to why this is a strategy small business owners should care about?
Principles Of Account Based Marketing
At least as of the timing of this article, there is not a formal Council of Account Based Marketers that has laid out a charter saying these are and are not the defining principles but there are several inherently agreed upon principles:
Most business decisions are not made by a singular person. The goal of each advertising campaign is to gain your prospect’s attention to get them to speak directly to you. Every company you target is its own campaign. Every campaign involves touches via several different mediums (phone calls, emails, ads, etc.). Sales teams (or you personally) follow up by working small leads lists for long periods of time. (Some companies work 50 leads for 3 months and only those 50 leads).
This is actually only about 1/3 of the original article. I could not include the whole thing because of Reddit formatting issues. If you would like to read the article in its entirety you can do so on my blog: http://ift.tt/2o1h4cC
Also happy to answer any questions anyone has about ABM.
[link] [comments]
from Entrepreneur http://ift.tt/2osfWzA
via IFTTT
add adsense to blogger
how much money do bloggers make? can blogs make money? make money off ads how to get money from blogging? best websites to make money blog adsense income earn from blogging website ideas to make money how websites make money?
No hay comentarios.:
Publicar un comentario