Why Every Ambitious B2B Business Needs Account Based Marketing

Throughout the internet, you will find multiple definitions of Account-Based Marketing. In gist, it’s a strategic approach to engaging, converting and delighting your key accounts.

Let’s be real: as we speak, there are a hundred other companies vying for the limited attention span of your clients. And it’s B2B sales, where sealing a deal can take from months to a year. Account Based Marketing isn’t just a marketing tactic; it’s a mindset and it’s the way forward.

In this blog, we explore why it’s a game-changer for enterprises looking to target high ACV clients. 

How ABM Marketing Differs from Traditional Marketing 

Traditional marketing involves targeting a larger group of potential customers through advertising, email campaigns, events and other channels. While there’s nothing inherently wrong with these generic, wide-reaching campaigns, they don’t always provide the personalised approach that some businesses require.

Instead of navigating through an ocean of unqualified leads, Account Based Marketing (ABM) takes a direct route, focusing on engaging and nurturing specific target accounts.

But for a large enterprise eyeing high ACV clients, this is the distinction that matters the most; superior sales and marketing alignment.

In traditional B2B marketing, sales and marketing teams often have disparate goals and strategies, rarely finding common ground. ABM ensures complete harmony between these two pillars of business strategy. Both sales and marketing share the same goal – nurturing and converting the same set of high-value accounts. 

Aligning Marketing and Sales: Why ABM is the Way

If you have worked in sales or marketing, you’re familiar with the unmistakable gap between these two critical teams. Everyone understands that these two teams are stronger together than on their own.

Yet, in most enterprises, we see sales and marketing operating in parallel universes. Every ambitious company inevitably reaches a point where they must streamline their sales and marketing efforts.

Here’s how ABM helps:

1) Unified Goals for Both Teams: ABM kicks off by identifying a shared list of key accounts, ensuring both teams target and prioritise the most promising prospects. 

2) Standardised Processes: From marketing’s stand point, ABM eliminates the need to have multiple communication materials for vaguely defined audiences.

It provides marketing with a clear focus on the precise target audience, challenges, and optimal positioning. Once marketing runs the top funnel race, they seamlessly pass the warm leads onto sales.

3) Strategic Content Alignment: Marketing, Sales and any other relevant teams co-create content that speaks directly to target accounts.
This teamwork ensures a unified message, making every interaction with the brand consistent, as if you were talking to each client one-on-one.

4) Transparent and Unified Reporting: ABM platforms facilitate transparent reporting, giving a unified view of marketing and sales activities.
This shared visibility enables both teams to track progress, measure success, and make data-driven decisions collaboratively.

5) Easy Closing: With a fine-tuned list of qualified leads, sales teams can focus on what they do best – closing deals. The streamlined process enables a more direct and effective approach, reducing the chances of leads falling through the cracks. 

6) Continuous Feedback Loop: ABM fosters a culture of continuous improvement through a feedback loop between marketing and sales. Insights from sales interactions inform marketing strategies and vice versa, creating a cyclical process that benefits everyone.

How to Get started?

Get everyone on the same page

ABM is not a solo endeavour; it’s a team effort that requires alignment and commitment from all major stakeholders. And every good strategy begins with clear, common goals and the right alignment.
Start by establishing a foundation that resonates with marketing, sales, customer success, and any other relevant teams.

Questions to keep in mind: 

  • How do we ensure effective communication between marketing, sales, and customer success teams? 
  • Should we create a taskforce that can be on top of this? 
  • What are the common goals that will guide our ABM strategy?
  • What steps can be taken to ensure everyone understands and supports these goals?
  • Measures to maintain long-term commitment from all teams?

Identify the right accounts and personalise your way in

Precision is the key to ABM success. Begin by investing time in researching and identifying the right target accounts. Leverage user intent data from various touchpoints to build detailed personas and identify your key accounts. Once this groundwork is laid, craft a personalised communication plan for each account. Consider starting with persona-based personalization and evolving to account-specific customization.

Questions to ask:

  • What sources can we tap into for aggregating user intent data?
  • How do we ensure the accuracy and reliability of the data collected?
  • What criteria should be considered when building detailed personas for target accounts?
  • How frequently should personas be revisited and updated?
  • How can we tailor our message to resonate with each specific account?

Set the right KPIS

Measuring the success of your ABM approach requires a strategic approach. Establish Key Performance Indicators (KPIs) that align with your overall goals.
The below are some examples that can help you customise your own KPIs:

  • Outreach KPIs: Impressions, click-through rates, landing page visits, form-fills, downloads, and conversions 
  • Account scores: engagement score, penetration rate, progression rate 
  • Revenue related: Average deal size, Customer lifetime value, Revenue generated 
  • Lifetime related: CLTV, sales cycle length, Account churn rate.

Don’t overlook holistic measures like Customer Satisfaction Score, Share of Wallet, and qualitative aspects such as the quality of relationships and trust built over time.

Questions to keep in mind:

  • How closely do our chosen KPIs align with the overall objectives of our ABM strategy?
  • Any additional KPIs to be considered based on our unique goals?
  • How often should we review and reassess our KPIs?
  • What benchmarks or industry standards can we use to gauge the success of our chosen KPIs?

Incorporate AI tools 

Like every other domain, AI is changing ABM in big ways this year. And if you want to do ABM right, it’s worth considering AI-powered analytics tools that will help you level up your personalization game.

AI doesn’t just crunch numbers; it decodes the narrative hidden within the data.
It identifies trends and patterns, transforming raw information into actionable insights. This means your team isn’t drowning in a sea of data; they’re sailing on a ship of intelligent decisions.

Questions to consider: 

  • What specific AI-driven tools align best with our ABM strategy and objectives?
  • How do we evaluate and choose tools that are scalable and adaptable to future needs?
  • What steps can be taken to train our team on utilising AI tools effectively?

Conclusion: Embracing ABM as the Pillar of Enterprise Growth

In conclusion, ABM stands as a vital approach for enterprise growth, going beyond transactional approaches. 

ABM represents a smart evolution in how we market, focusing on building genuine relationships that last. It’s about moving from mass targeting to focusing on high-value, targeted accounts. It’s about collaborative efforts to enhance customer experiences and drive results.

At Savittr, we can help you set up and scale your entire ABM strategy. Let us guide you through the process, ensuring your business thrives in the age of personalised marketing.

Learn more: savittr.com

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