Account-based marketing is a marketing strategy in which the marketing and sales team work together to target best-fit accounts that can be turned into customers. It differs from traditional marketing in the sense that instead of resorting to broad-reaching marketing campaigns, an ABM approach concentrates on a select few client accounts that are defined as high-value accounts by both marketing and sales teams.
Account-based marketing? : Video Script
Hey, this is Kapil Khangaonkar. Welcome to sales Street a series of new insightful videos on sales, lead gen, and marketing.
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ABM is actually called account-based marketing. It's actually how marketing has now evolved. You know earlier when marketing you should Target contacts or prospects, they had no way of figuring out who's more important or who's less important.
So, they used to basically go on and reach out to everybody as and how they can if it is filling the profile that a person is treated equally now actually the technology has come up to the age where you can actually decide how I can reach out to a specific account and design my strategies around it.
Now having said that account-based marketing itself entails that this whole technology and Paradigm is designed for marketing so the leads coming out of them cannot be sales-qualified leads. In the end, it is designed for marketing qualification.
Now, for that to understand let us take a step back and understand how basically ABM platforms work now when somebody says that they have intent now they this is a very very hot keyword right now you know whether to find out intent or not.
So, if somebody says we have intent how does an intent come into our account-based marketing platforms, now typically how it works is there are sites like Tech Target, Quora, yes.com, and answer.com there are 10 000 subsites if somebody goes and searches for a specific topic on these sites. for example, if somebody goes and searches how to implement IoT, okay these platforms will then do the IP backtracking of that person to figure out where that request came from and then say that this company is some persons had searched for IoT implementation and hence, this company may have an IoT requirement which sounds fair nothing wrong in it this is how it's supposed to work, but now there are challenges in this okay how what are those challenges when you do the IP backtracking is only 60 accurate and these websites actually mention this very clear categorically on their websites.
So, iPad tracking actually is not very accurate second now people because working from home they are searching from home. So, the company IP address does not come into the picture at all so the person really doesn't know where the request is coming from. That is the second problem in this, and the third problem in the entire scenario is you don't know the intensity of the requirement. if somebody in the company especially in the larger organizations if a junior guy is searching for his own sake in terms of learning how to do IoT implementation the intent will not be able to identify the difference between the two and it will say that the large company has a requirement or this is a big problem right because if the IoT requirement is not there in the company and my sales guys are now reaching out to the company and banging their head on the wall trying to break through the door. this is not going to work out because they still simply just don't have a requirement now how is this working in that case you know how are people still buying ABM so ABM platforms are supposed to be bought by marketers.
ABM platforms are supposed to be used by marketing guys for showing better advertisements If You observe all ABM platforms they all have basically inbuilt LinkedIn Integrations in build Facebook Integrations where you can go and show your advertisements now if a marketing if a cm of a company today has a budget of ten thousand dollars per month to show advertisements and he doesn't have an ABM platform tic disposal he's basically wasting that money on showing ads for many people who don't even need it so what they are claiming is basically instead of showing it to random people show it to people who are coming from a platform with certain kind of content and your convergence will be higher than before.
So, it is better than showing it blindly to anybody you can show it to people who are you know coming with this kind of intent but are they to be consumed by sales guys absolutely not ABM leads are not to be consumed by sales guys, ABM leads are only to be consumer marketing guys for further qualification once they qualify these leads then they are to be passed on to sales guys for actual appointment set up until then they have absolutely to be owned by marketing guys only so that is a basic differentiating factor a lot of people buy AVM platforms and ask sales guys to start calling those leads assuming that they are actually you know requirement leads but that does not work that way because these leaves are not qualified sales leads for the sales team so that's basically the difference between ABM leads and sales qualified.