What is ABM
ABM stands for Account based Marketing. By reading the name you’d assume it’s a form of marketing which is account based. You are not wrong. ABM is a high intention based form of marketing. But it’s driven by sales intention.
Account based Marketing is a sales strategy which aims to flip the traditional sales funnel.
Tools required for ABM
For ABM you need the following tools:
- Search and Fine Account
- Ideal Customer Profile Matcher
- Email tool
- Email formatting
- Bulk Email
- Email Automation
- Email campaign
- Deals funnels Manager
- Team Activity Tracker
- Customised Reports generator
- Email tool
- Engagement Platform
- Social Media Feed Aggrigator
- Reports Generation
- Data source with millions of data point
Why do you need a separate platform?
On the surface Account based marketing looks complicated. There’s a lot of things moving around. Things turn more chaotic when you are working with a large team.
While in ABM you are not reaching out to a single lead or decision maker. Instead you are reaching out to the entire account. While you do this, it’s important to have a uniform, consistent and disciplined messaging throughout.
As human error is more common than we admit, we are bound to send multiple emails to the same person, or schedule meetings with the wrong team due to wrong requests being passed in our internal teams.
To keep the sale process in check and keep everyone informed of the updates, experts suggest using a collaborative tool.
With advancements in cloud tech it’s not possible to create digital collaborative platforms. These platforms are designed to solve one problem. In case of ABM platforms you get everything you need to find and make sales,
What to check before picking ABM Platform
Account based platforms can be expensive when you are getting started. While the upfront cost might not look big, it’s important to note that you will be sticking around with one platform for more than a year. So the cost adds up.
Example of an ABM Platforms
Intandemly is one such platform which offers an end to end solution for Account Based Marketing.
The platform is divided into three modules, to denote each phase of the ABM process.
Based on your criteria you will get a list of accounts with details like contacts, corporate email, position.
Intandemly also offers a Chrome Extension which makes identifying super easy, while eliminating data entry for reps. Research your accounts and prospects, get up to date contact data, and push it into the Prospect module
Comes with an inbuilt CRM which is smartly connected with insights, account management, calling, email automation, and other tools.
Here you can create a sales workflow optimised to visualise the deals across the board.
Connecting with accounts on a 1-on-1 basis is extremely crucial. The Engage module helps easily manage multiple accounts while you build your audience.
The platform encourages you to create “plays” across advertising, Linkedin, retargeting, direct mail and email. Align the marketing department with the rest of the organisation. There by reaching customers in the most personalised way.
Summary and TL;DR
- ABM is Account based marketing
- It’s a sales driven strategy to establish relationship with clients
- The tools you needs are
- Data sourcing, and sorting
- Outreaching tools like Email automation and Social media Aggrigator
- Tool to engage by creating “plays”