What is Account Based Marketing or ‘ABM’?
Account Based Marketing is any marketing exercise, campaign, or strategy that is focused on a specific group of accounts, industries, locations, or personas. This type of marketing strategy has been implemented for years, but has only recently received attention as a named marketing strategy.
If you have historically had a good success rate with certain industries, locations, or accounts, then it follows that you should try to specifically target these audiences. ABM allows you to do just that!
Why do ABM?
Research has shown that companies which adopt ABM yield performance increases across their marketing and sales organizations. The way to accomplish this is simple: if you are able to identify industries, locations, or accounts which have historically closed at a higher rate, closed at a faster rate, or responded well to messaging tailored to them, it stands to reason that focusing marketing efforts in these key areas will yield stronger sales and marketing outcomes. Increases to conversion rates, velocity, average contract value, sales close rate, and sales efficiency have all been documented.
Many marketing teams have already applied ABM thinking to their strategy, often unintentionally. If you have an industry-specific area on your website, or localized web experiences, this could be considered a form of ABM. Addressing your audiences with copy, imagery, and content that is familiar to their industry or geography makes them feel they’re in the right place, and puts the buying experience in terms they can understand.
What ABM solutions does PathFactory offer?
PathFactory offers 2 ABM solutions: Account Based Analytics, and Account Based Content. Both solutions use Account identification technology so that even if visitors are not known to PathFactory or your Marketing Automation platform, PathFactory can infer which account an anonymous visitor is from. Starting on April 16th, 2020, out of the box, all PathFactory customers have free access for 6sense to power Account Identification within PathFactory. Optionally, customer may bring their Demandbase API key to use Demandbase for Account Identififcation within PathFactory.
Account Based Analytics
Account Based Analytics allows you to see how specific Accounts are consuming specific Campaigns or across Content Tracks (either with Target or Recommend), see where specific visitors are coming from, and have the ability to search for and discover key accounts that are consuming your content (time spent in minutes and seconds). Account Based Analytics appear within Content Track Analytics, Path Analytics, and PathFactory for Sales.
Account Based Content
Account Based Content includes Segments and Routes. Segments allows you to define key audiences within your ABM Strategy using a rule builder. These audiences can be built using any combination of industry, location, or named account. Once you have built Segments, you can leverage Routes to direct your segments to audience-specific content tracks.
|Once you’ve set up your routes and segments, you use a “Smart URL” PathFactory provides in your campaign CTAs. This means that you can send multiple audiences to the same URL and they’ll be automatically routed to content tracks specific to their interests.
How does ABM work with PathFactory?
1. Observe Accounts
Use Account Based Analytics to learn about your visitors’ accounts.
2. Create Segments
Create Segments that represent key accounts, industries, and/or locations.
3. Target Segments
Target several of these Segments with a Route that will send them to content tracks customized for specific audiences.