Is ABM right for you? 🤔

ABM isn’t the right approach for every type of business.

This is a simplified version of when & when not to think of implementing Account Based Marketing (ABM)

So, when should you think of ABM?

I’ve listed 7 simple pointers that you can use to decide whether ABM (Account Based Marketing) is right for your business:

1. You have a complex & long sales cycle (3-6 months or more)
2. You have an ACV of $30k or more (ACV is annual contract value)
3. You have a clearly defined ICP (ideal customer profile)
4. You are not targeting the whole world (limited target accounts)
5. You are targeting high level decision makers (VP, C suite etc)
6. You’re not in a urgent rush (1-2 mo timeline) to close deals
7. You want to build deep customer relationships

If you check 5 or more boxes from the above, you should seriously think of implementing ABM to grow your top-line 💸

But before you make a decision, you should ask yourself this question:

Does ABM align with my business objectives?

If your answer to the above is “Yes”

Then you are sure-shot go ✅

But why does ABM actually work?

One word - “Focus”

Allow me to explain with an example

When Bill Gates first met Warren Buffett, their host at dinner, Gates’ mother, asked everyone around the table to identify one thing…

What they believed was the single most important factor in their success through life.

Gates and Buffett gave the same one-word answer

“Focus”

Because you are….

• Focusing on few accounts
• Ones with high intent & value
• Creating personalized content
• Aligning your sales & marketing teams
• Using data driven insights to make decisions

With this focused effort, your chances to win these deals increase

When does ABM not work?

There are certain scenarios and characteristics of companies that may not be well-suited for ABM implementation

Here are some instances when businesses should think twice before starting ABM:

1. Short term marketing objectives: If your company's marketing goals are immediate lead generation or quick conversions, ABM might not be the best fit
2. High volume, low-value sales: Businesses that deal with high-volume, low-value transactions might not find ABM cost-effective
3. No clear ICP: If your company's marketing team has not yet fully established an ICP, launching an ABM campaign may not yield fruit
4. Sales & marketing work in silos: Lack of synergy between sales & marketing or if there are conflicting priorities, ABM may not deliver the desired results

If I want to implement ABM, what should I do next?

After working closely with 200+ seasoned B2B marketers in the past 4 years

We have understood a thing or two about ABM

We have condensed learnings into 7 tactics every ABM marketer should follow on this detailed blog here