Key Account Marketing Means Focusing on the Right Customers
Essentially, ABM narrows down your focus to your highest opportunity accounts, viewing each as a market of one and even targeting specific people at each account. While an inbound B2B marketing campaign would include relevant and intriguing content that helps a large group of potential prospects to find you, an ABM effort targets a few, high-value accounts (and their key decision makers) with customized messaging.
This includes creating relevant and personalized emails and content for each account and making them aware of events and offers that would interest them the most. ABM allows marketers to narrow and sharpen their approach by marketing straight to key decision makers, the ones who have power over whether or not to buy in. From there, marketers can begin to build trust and a strong, ongoing business relationship with them.
An organization needs to be careful in choosing which clients and prospects are their key accounts. Not all prospects or customers will meet your criteria for being a key strategic account, and you need to concentrate your ABM efforts on those that do.
What makes for a good key account prospect or customer? While the criteria could change depending on the marketplace or industry, an ideal ABM account should be one that has the most revenue potential to make a highly targeted marketing effort worth it.
Other factors to consider include the account’s past history as well as any previous relationship with you or your competitors. Also, you should find out if you and this account have mutual goals that you can accomplish together. If not, there is little point in moving forward.