Most businesses and marketers have heard the term account-based marketing, more in recent times than before. It has become a buzz word in the marketing field, but what is it exactly?
In previous times, marketers would aim to reel in as many leads and sales as possible by trying to target them all at once. As it became apparent that this was not the best strategy and actually wasted a great deal of time and money, a new plan emerged: focus on certain accounts that have the highest potential. This strategy was termed account-based marketing and proved to be very successful.
How might we see it grow and change in the current year? Read on to find out.
What We Should See from Account-based Marketing in 2019
Below are five things we might expect to see this year:
1. More businesses will adopt the use of ABM in B2B marketing.
In 2017, 36% of companies used ABM. In 2018, that number grew to 61%. It will only continue to grow in 2019 thanks to the results it provides. Studies show that about 77% of marketers currently using ABM believe that it has caused significant growth and will continue to use it.
2. There will likely be a surge of ABM strategies that are handled by AI.
Though ABM is a remarkable marketing strategy, it does face challenges. One of these is being able to swiftly and accurately determine which accounts the strategy should be geared toward. AI presents a solution to this problem since it can go through loads of data in short spans of time. Using AI systems in the ABM strategy will provide more accuracy and efficiency.
3. The use of AI will make more possible in ABM.
Humans have limits; that is a fact. Often, even with a great ABM strategy, it can be difficult for humans to determine what to do next with particular clients or how to get that client to the next step in the buying process. AI can cut through all of the confusion and automate the strategy to that particular client (4).
4. More ABM strategies will be spread among multiple tiers as opposed to focusing on only one tier.
Before now, ABM has been developed as more of a one-to-one approach. In 2019, we will likely see these strategies being spread out though they will still be extremely targeted. The multiple tiers of focus may include One-to-One, One-to-Few, and One-to-Many.
5. Marketers will most likely begin to use ABM, CRM, and marketing automation in concert for greater success.
CRM and marketing automation has been used for some time. However, they often fail to provide a complete view and the full capabilities that marketers tend to look for. Using these together with account-based marketing will provide multiple possibilities and a greater understanding.
How Can I Make Account-based Marketing My Strategy in 2019?
ABM is certainly not going anywhere any time soon. This successful marketing strategy is becoming a widely used process and, to stay relevant and competitive, B2B marketers need to be sure that they are putting it to use.
Tons of account-based marketing software and tools are available online for those ready to dive in. For those unsure of how to do this or feel it would be handled better by an experienced marketer, there are many agencies that are experts in ABM ready to help. Inventive-SMI can help you reach your goals with ABM-focused campaigns. Contact us today for more information on how to get your ABM campaigns rolling today.