What is ABM in marketing — and what are the different types?

This is the first blog in our ABM series explaining what ABM in marketing is and the three different types of ABM – one to one, one to few, one to many.

If you already have knowledge and experience of ABM, you’d be better skipping to the next blog – Why Account Based Marketing isn’t delivering the customer growth you need. In this second blog we discuss the six issues with traditional ABM, the goals of ABM and how you can increase customer growth and CLTV.

What is ABM (Account Based Marketing)? 

In simple terms, ABM is an aligned marketing and sales strategy that targets a specific set of ‘right fit’ and high-value accounts. The objective is usually to increase revenue or accelerate the route to revenue.  

72% of marketers say account-based marketing (ABM) outperforms all other marketing investments, which explains why 71% of companies plan to increase ABM spend in 2023.

CIM

What are the different types of ABM in marketing? 

The different types of ABM strategies relate to who you are targeting, the associated value or return of these accounts, and how you then engage and reach them. 

ABM is useful to address the complex decision-making unit in B2B sales 

We all know it’s critical to provide the right messaging when speaking to either an existing or potential customer. The fact a typical buying group for a complex B2B solutions consists of 6-10 decision makers and 30 influencers means consistent and relevant messaging at every potential touchpoint is also key.¹ 

This is especially true when we know customers ‘loop’ and revisit the different buying tasks constantly, in fact 80% revisit each of the six buying ‘jobs’ at least once.* ² 

*Six buyer jobs: 1) Problem identification > 2) Solution exploration > 3)  Requirements building > 4) Supplier selection > 5) Validation > 6) Consensus creation.