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.
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:
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