There are so many types of marketing out there these days—digital, outbound, inbound, event, content, guerrilla, etc. (I could go on for days, but I’ll spare you.) And there’s another type of marketing I’ve been hearing a lot about lately: account based marketing (ABM).
Do we really need another kind of marketing, you may ask. Actually, with an average of 5.4 people involved in the B2B buying decision, it makes sense to market to an entire account, not just one person.
ABM is a great strategy that can lead to success for many organizations when done right. Unfortunately, without the resources to support it, it can become the flavor of the month, quickly abandoned for the next month’s flavor.
ABM requires a strong strategy that allows you to implement it by expanding what you’re currently doing. You take a giant step into the world of ABM without an excessive draw on time and internal resources.
How do you do that? It’s simple, just harness a media frenzy™. Here’s how:
- Characterize the Frenzy
- Tailor the Frenzy
- Fuel the Frenzy
- Analyze the Frenzy
Let’s jump into the first step.
CHARACTERIZE THE FRENZY
Before you can market to an account, you must spend time understanding your buyer. For ABM, this requires you to consider the type of company that needs your solution. What size is the company in terms of revenue and employees? Where is it located? What industry is it in?
Once that’s done, you can dive into specific company names based on those characteristics. Then take it a step further by creating a profile of the key people inside each type of company and the influence those people have on the buying decision. What type of job do they have? What level are they in the organization? What are their pain points?
The reason for all this research is to be able to create content and campaigns that appeal to each profile at the various stages of the buying cycle: awareness, research, comparison and purchase.
Once you have characterized the frenzy, it’s time to tailor the frenzy to those profiles at each stage of the buying cycle. I’ll explain further in the next post.