Oracle Social Spotlight

Account Based Marketing - Is It All Just Hype?

By: Amanda Crocker

Senior Product Manager

I was recently tasked with learning about a B2B strategy called account-based marketing, otherwise known as ABM. If you do a quick Google search of the term, you will immediately notice it surfaces an enormous amount of data. After doing a quick sweep of the information out there, what struck me most is that this hyped-up term is not a new concept. But as digital marketers face over-saturation and attention span issues, many tout ABM as a way to shake things up. 

To start, let's define ABM.

  • Account-based marketing (ABM) is a strategic approach to business marketing based on account awareness in which an organization considers and communicates with individual prospect or customer accounts as markets of one. While business marketing is typically organized by industry, product/solution, ABM brings all of these together to focus on individual accounts.*
  • It is an alternative B2B strategy that concentrates sales and marketing resources on a clearly defined set of target accounts within a market and employs personalized campaigns designed to resonate with each account.**
  • ABM isn’t right for all companies, and experts say it’s best suited to those selling to large businesses, with average deals exceeding six figures. Those typically selling to small and medium-sized businesses might not benefit enough to justify the effort.***

Why are marketers focusing their efforts on this type of strategy? Simply put, the results are encouraging. 

 

And comparing ROI levels of ABM to traditional marketing initiatives is compelling:

 

So why should social marketers care about ABM?

Companies who are implementing ABM strategies, need to tap social data to support their plan. It is easy to see that without the support of social data, ABM strategies will most likely not reach their full potential. For example, eMarketer found that social media is a key tool used to engage with accounts under this model. 

They also found that social KPIs are critical to support ABM strategies. Some key metrics include:

  • Account-level measurements and goals
  • Engagement signals within the account foundation that indicate the buying committee's intent to buy
  • How and why a company is engaging
  • How much time they spent engaging and in what way  

To dive deeper into this topic, eMarketer just released a fantastic report Account-Based Marketing 2017: An Introduction for B2B Marketers. I highly encourage you to check it out!

 

Sources: *Wikipedia, **Marketo, ***eMarketer

 

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