The global account-based marketing market size was USD 749.4 Million in 2020, and is projected to reach USD 1.6 Billion by 2023, growing at a Compound Annual rate of growth (CAGR) of 11.6%. (Source – Business Wire)
What is account-based marketing, or ABM?
Account-based marketing is a targeted approach to B2B marketing in which marketing and sales teams work together to focus on best-fit accounts and convert them into customers.
1.Identify your target accounts;
Identify your target accounts by using various parameters. For instance, define the industry, company size, annual revenue, IT budget etc.,
There are multiple marketing database tools available in the market like DiscoverOrg, Reinking, ZoomInfo, D&B Hoovers, LinkedIn sales Navigator, and etc which will help you to create your target list based on your business needs.
2.Define your target persona’s;
Once you created the list based on choosing which industry you need to target, location, company size and annual revenue. Now you need to identity the right set of contacts(Persona’s / Decision makers) to reach out to.
For example, let’s say a company selling HR software is identifying key decision-making roles within select accounts. The list of individuals might include the HR Head, Talent acquisition managers, CIO, and CTO.
The marketing database tools like DiscoverOrg, Reinking, ZoomInfo, D&B Hoovers etc.., will provide the contact details like people’s name, email id, phone number, designation, location etc.,
3. Engage with personalised/targeted campaigns;
After identifying the target accounts and target persona’s(contacts), design and run coordinated and personalized campaigns to your target accounts. Personalized campaigns will increase your response rate.
4. Execute your campaigns;
Account based marketing campaigns can be done via multiple modes
- Email campaign
- LinkedIn sales navigator
- LinkedIn ABM Advertising