ABM or Account Based Marketing, we are all inundated with it on social media or through newsletters. Yet, it is not always clear how to get started with it. No love at first sight perhaps, but it’s definitely worth taking a step further.
Here’s how to give your ABM story a ‘They lived happily ever after’ in 4 steps (and with a little help)!
1. What ABM relationship are you going for?
First and foremost, carefully choose the target you are aiming for. In the ABM pond, we distinguish 3 relationship types:
- Acquisition or B2B Lead Generation – You go for a new customer you have your eye on and get him/her excited about a future relationship.
- Acceleration – You want to accelerate business with an existing client or provide new opportunities so your relationship doesn’t end in a dead end.
- Expansion – You want to keep the attention of your existing customer and get even more out of your relationship.
When you have determined your relationship goal, it’s time to map out your new or existing B2B customer. To do this, put the following 2 factors on an axis:
- Relative Business Strength
“What is our position to win, retain or grow business within this relationship?”
- Account Attractiveness
“How attractive is it to do business with this customer?”
2. Look deeply into their eyes (and data)
Ok, you know what you want to achieve? Now it’s time for some serious research. Just like a relationship agency you are going to find out everything about your (future) B2B customer. Both the good and the bad. The more you know, the more targeted your communication will be. After all, that is what you are going for.
Map out your target group. Some questions that can help:
- What is the company like?
- Who are they working with?
- Are there other companies? Other brands?
- What company hierarchy is in place?
- Who works there? Do I already know someone?
- What functions are running around?
- Which channels can I find/reach them on
You don’t have to stalk your customers for this. But knowing where they hang out and what their interests are does ensure that you can start interesting conversations.
3. An ABM match made in heaven
Now you know what you can expect, it’s time for a first date. And the ice is quickly broken. After all, you know everything about what your account is looking for and what you can offer.
Do not hesitate to bet on several horses (for once). Build relationships with multiple people within an account. Business decisions are usually made by more than one person.
Try out as many channels as you can and take your time. Find out in which way you reach your B2B costumers best. With video marketing, social media advertising, display advertising, search engine optimization or public relations?
After 6 months of dating, you should have an idea of what works and what doesn’t.
4. ABM love is a verb
You’ve piqued their interest? Congratulations! Now keep the fire burning. Make sure they can’t/won’t live without you. Keep their attention with fresh content. Create real ambassadors who spontaneously talk about you.
After 6 months, it’s important to look back at what did/didn’t work out. Have a serious ‘chat’.
What about the effective turnover? Any new deals? And what about your reputation? Have you been picked up by the right profiles?
On the basis of collected data you will see where there is still room for growth. And before you know it, you will have reached your ‘Diamond ABM anniversary’.
Interested in ABM? At BBC, we are happy to assist you with the necessary relationship advice.