Account-based marketing | Solutional Webdesign Antwerpen

ALL 0-9 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Account-based marketing, often abbreviated as ABM, is a strategic marketing approach that targets specific customer^[1] accounts instead of wider industry segments. The idea behind ABM is to focus on key accounts that have the potential to deliver significant long-term value. This approach relies heavily on aligning marketing and sales^[2] efforts to expand business within these identified accounts. ABM has proven successful in numerous cases, such as Northrop Grumman’s $2 billion deal. The selection of key accounts involves careful consideration of factors such as revenue history and profitability. This methodology requires not just targeting, but also developing intelligence on these key accounts, recognizing potential red flags, and optimizing marketing based on account data. In essence, ABM is a focused approach to marketing that prioritizes long-term value over short-term leads.

Terms definitions

1. ↑ customer.

1 The primary entity in this text is the "customer. A customer is an individual or entity that purchases goods or services from a business. They are crucial participants in the commercial landscape, forming relationships with businesses through transactions. Customers can also be classified as 'clients,' especially when they receive tailored advice or solutions from a business. The term 'client' originates from Latin, implying a sense of leaning or bending toward a business. Customers vary in types - from end customers who directly buy products or services, to industrial customers who incorporate these goods or services into their own offerings. These customers can have different relationships with the business, such as being employers in construction projects. Businesses often segment their customers into different categories, like entrepreneurs or end users, to better understand and serve them. The understanding and management of customer relationships is a critical area of study and practice in business.

2 The primary entity in this text is the "customer. A customer is an individual or entity that purchases goods or services from a business. They are crucial participants in the commercial landscape, forming relationships with businesses through transactions. Customers can also be classified as 'clients,' especially when they receive tailored advice or solutions from a business. The term 'client' originates from Latin, implying a sense of leaning or bending toward a business. Customers vary in types - from end customers who directly buy products or services, to industrial customers who incorporate these goods or services into their own offerings. These customers can have different relationships with the business, such as being employers in construction projects. Businesses often segment their customers into different categories, like entrepreneurs or end users, to better understand and serve them. The understanding and management of customer relationships is a critical area of study and practice in business.

2. ↑ sales. Sales is a key aspect of business operations that pertains to the selling of goods or services at a defined cost. This process entails the transfer of ownership and agreement on a price. In countries with common law, sales are typically regulated by commercial codes. The individuals involved in executing sales are referred to as salespersons, who play a specialized role in the sales process. Sales is generally seen as the final stage of marketing, implementing the plan into action. It requires persuasion and effort to bring resources into a company. Sales are considered an output of a larger system within an organization, with the sales and marketing processes supplying inputs and outputs to each other. This process is often integrated within the larger business structure in large corporations, with multiple teams focusing on driving profits and success.

Glossary

Account-based marketing (Wikipedia)

This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed.
Find sources: "Account-based marketing" - news - newspapers - books - scholar - JSTOR (December 2023) (Learn how and when to remove this template message)

Account-based marketing (ABM), also known as key account marketing, is a strategic approach to business marketing based on account awareness in which an organization considers and communicates with individual prospect or customer accounts as markets of one. Account-based marketing is typically employed in enterprise-level sales organizations.

« Back to Glossary Index