ABM is also called Key Account Marketing and it’is a special type of approach to marketing communication, consisting in narrowing the target group of message recipients to a specific group of clients or potential company’s clients (accounts). A characteristic feature is that the message is directed to a specific group of recipients – only to a specific group of clients listed by a specific company.
Account-based marketing (ABM) is a targeted approach to B2B marketing, where marketing and sales teams work together to manage the best-matched accounts and turn them into customers. The main approach in ABM is to put the consumer in the center of all of our activities and build a strong relationship.
This is against the traditional logic of marketing, which is, firstly, a massive operation, and secondly, it is mainly focused on acquiring new customers. Therefore, the natural domain of Account Based Marketing is any programs whose task is to increase sales to existing clients, eg in the form of cross-selling or up-selling.
The greatest strength of Account Based Marketing may be the use of the fact that the goal of the marketing action is not a new client, about which we know very little but an existing client with whom we may be in a long-term and intimate relationship; our employees (salespersons, consultants, customer service representatives) may contact each other daily, talk and work with their colleagues on the client’s side.
In other words, we have a lot of valuable information from many sources about your client. :
· Data from the CRM system,
· Data from the sales service system,
· Data from employees who have contact with the client,
· Marketing data (usually from the Marketing Automation system).