Account based marketing focuses on the key accounts that will generate revenue. In my B2B past, we viewed these as target markets. When I created a roadmap for our marketing efforts, I would consult sales to better understand when certain markets were going to be making their purchases for our products and marketing to them leading up to and during that time.
Each market had its own demographic and its own buying time. This kind of roadmap allowed for the department to put greater focus on specific times during a key time during the year. It allowed us to hone in on our various initiatives and better analyze the results, rather than taking a shot gun approach and hitting all customers at once with one blanket message regardless of their interest, purchasing power, or specific need.
Account based marketing, takes some of the above into account and puts it into 5 key steps, at least according to Marketo’s findings:
- Discover & Define Your Key Prospects
- Define Personalized and Effective Messaging
- Determine Optimal Channels
- Execute Targeted Campaigns
- Measure, Learn & Optimize
What approach are you taking to ensure that you are focusing on key markets, or accounts, during the right time in their buying process?