Account Based Marketing
"Account-Based Marketing (ABM)" is a B2B marketing method that focuses on specific companies (accounts) such as large customers and approaches them.
The advantage of working on ABM is that you can streamline your sales and marketing activities.
According to Pareto's law that 20% of customers account for 80% of sales, some large customers account for the majority of sales in many B2B companies. We target this large customer and prepare the necessary approach and content, so it is easy to achieve results without waste.
Four Steps of ABM
STEP1: Target account settings
The first is the selection of the target company.
We have corporate data of about 200,000 companies. If there is no information such as company size or industry, we will obtain the information and analyze it.
The procedure for selecting a target company is as follows.
- 1. Analyze attributes such as company size, industry, and region of the top 20% of companies that account for more than 80% of sales among their trading companies.
- 2. Extract accounts with the same attributes and not existing customers of your company.
- 3. Further consider the size of expected transactions, market impact, potential repeaters, potential to be larger than average profit margin, etc.
STEP2: Identify key persons
After selecting the target of the account (company), the next step is to confirm the key person of each company. Get information about the people most involved in your product or service implementation decision.
In addition to the telephone and email approaches by inside sales, there are methods such as holding seminars and exhibitions, sending DMs, and obtaining information through the person in charge who already has contact.
STEP3: Implementation of a telemarketing approach
We will take a telemarketing approach. Get contacts to meet in person or have an online meeting.We will obtain one of the BANTC information of the target company.
STEP4: Measure the Effectiveness
Once the approach is over, you'll know what the result was and what the reaction was. The results are analyzed as data and the effectiveness is measured. Once it works, analyze how it worked. If you do the same, you can get the effect with other accounts (companies).
Benefits of ABM
1.Efficient Marketing with Limited Resources
ABM selects target accounts (companies) and focuses on the client companies that contribute most to their sales and conducts marketing. Therefore, you can reduce the waste of resources and maximize the effect with less resources.
2.Accelerate the PDCA Cycle
The PDCA cycle can be turned quickly. One of ABM's strengths is that it is effective because it thoroughly narrows down the target customer companies. Therefore, it is easy to measure the effect and it becomes the property of the company. Since it becomes easier to carry out hypothesis and verification of marketing measures, PDCA can be rotated efficiently and at high speed.
3.Collaboration between marketing department and sales department
ABM will be implemented in collaboration with the marketing department and the sales department. In the past, when creating leads, the marketing department manually created them, so it was difficult to collaborate with the sales department. Therefore, at ABM, the cooperation between the marketing department and the sales department will be smooth.
Based on the experience cultivated in telemarketing, we will carry out all at once from account setting, key person identification, approach implementation, effect measurement.