In the B2B space , especially technology related , you will hear about ABM a lot. I was introduced to this term by the consulting firm Gartner about 5 years back. Since then along with other buzz words like intent data and AI I have been watching the progress in these technologies and methodologies.
I have generally refrained from using buzz words in my blogs. Today however I was going through some articles on how the B2B space has changed in terms of marketing. What are the trends that are taking place and found ABM is occupying a lot of mind space.
Getting large scale leads to fill the funnel has always been a challenge in B2B compared to B2C. In addition there are multiple people who take a decision, which adds to the inertia of decision making. Due to this people don’t like to change an incumbent until its absolutely necessary in B2B.
In technology marketing the other issue, with customers, is also the decision whether a technology should be adopted or wait and watch.
When you start with a single niche and choose a bunch of a 100 or thousand accounts (you can read my earlier post on identifying the economics ) to target you automatically learn the challenges of the customers over a period of time.
In ABM also look at an Ideal customer profile in a specific niche. What I found different and useful about ABM is that you first get into an account or customer and then spread your wings within the account so that more people know you and you can sell more value within an account.
What I still need to figure out, and I will let you know once I do, if there’s a size or type of company where this will work better or if there’s a type of offering for which this is not suited.
If you have used ABM , I would love to hear your experience
Till next time then.