Some decades back in automobile manufacturing, the Toyota Production, or Lean Manufacturing Methodology as it has become more commonly known, radically changed the car-making industry. Account Based Marketing (ABM) looks to achieve some of the same benefits, and helps to improve marketing and sales efficiency while reducing wasted efforts.
We’re not ready to claim that ABM will revolutionize your company’s performance to the same degree the Lean Methodology did for auto manufacturers, but as we consult with our clients about ABM, we can’t help but notice the similarities between the two. Without a doubt, a well-executed ABM strategy will streamline your marketing processes and reduce waste.
When done correctly, ABM eliminates wasteful efforts and unifies the processes and activities of the sales and marketing departments toward a common, more productive end. For instance:
Account-Based Marketing eliminates less than qualified prospects early in the process, preserving resources for more targeted (less wasteful) efforts.
ABM focuses marketing initiatives on targeted, high-value accounts rather than broad-based, “large-net” efforts that result in poor leads and sales team frustration.
Rather than broad attempts to reach a wide audience, ABM directly targets and nurtures primary decision makers at key accounts with quality content that specifically addresses their immediate needs.
As a result of all this, ABM expedites the sales process, generates more revenue and hastens ROI.
According to Forrester Research, less than one percent of leads become revenue-generating customers, so it’s easy to see why ABM has gotten so much attention in recent years from both sales and marketing organizations. It streamlined your sales and marketing efforts and eliminating wasteful activities for both organizations. And it is another reason to take a serious look at how ABM might help your company.
If you’d like to learn more about our views on Account-Based Marketing, get in touch with us today.
