As more and more of the global marketplace has moved online, the strategies for getting ahead in business have shifted. In the early days of online selling, the generalized ads and marketing strategies that were put out online would have been good enough. Now, with everything from social media #Explore pages to Google Ads finding increased value in the personalisation of these resources, the move towards specificity is gathering steam.
A lot of that is to do with expectations. As consumers, we found a disconnect between the personal nature of service in bricks-and-mortar stores compared with the clinical nature of online shopping. And, as companies, we saw customer churn rates grow. Furthermore, while some of the examples of at-home advertising have been dismissed as creepy, businesses are on the whole reaping the rewards of investing in this more personal way of reaching their prospective customers.
This is where ABM comes in.
Caption: An infographic highlighting the difference between traditional and account-based marketing (ABM)
What is ABM?
ABM stands for account-based marketing. It plays out in reality much like the aforementioned personalized ads. Marketers who use ABM as a strategy target specific customer accounts with incentives tailored to that account holder.
As with any concept, the first thing to ascertain before judging value is what, exactly, the idea is. Whether you’re wondering: “What is process mapping?” or: “What is cart migration?”, making…