In the marketing world, new strategies and techniques get pioneering all the time, so businesses need to stay ahead of the latest trends and find the tactics that can help them to grow and succeed.
Two of the most common, influential techniques in today’s marketing sector are Account-based marketing (ABM) and demand generation.
For businesses that don’t operate in the marketing industry, these terms will probably be completely unknown, which is why we’ve put together this guide to each to show which one will work best for your business.
What Is ABM?
ABM, which is sometimes called key account marketing, combines marketing with sales to create targeted campaigns that address the needs and expectations of a specific set of potential customers.
There are three main types of ABM:
- 1-1 ABM: where you target specific customers and work to create personalised content that drives them to start collaborating with your organisation
- 1-Few ABM: in which you target a specific set of leads with unique content. Choose an audience with similar needs, so that you can create templates that appeal to them all and require limited customisation
- 1-Many ABM: this approach involves creating an inherently similar audience so that you can send out content that will resonate with them all
Each style of ABM has its merits and its flaws, so you should review each type and consider how much work and expertise you want to put into your ABM campaign, and what you want to get out of it before you choose one.
What Is Demand Generation?
Demand generation is an innovative marketing strategy that involves showing potential customers why they should be working with your company and using its products or services.
Using data, your company can use this technique to guide every lead through each stage of the sales funnel; from interested website visitor through to paying client.
Demand generation is a long-term commitment; it’s about reinforcing your brand at every stage and on every platform, be it physical or digital. By continually pushing your brand’s message and showing customers what your business is all about, you’ll be able to drive them to understand why they should be working with you.
The technique often involves multiple strategies, such as posting dedicated blog posts to encourage demand and show potential clients how your offering can benefit them, through to social media creation and generating email lists of promising leads. As such, it requires a long-term commitment and a lot of expertise and hard work to implement a demand generation strategy successfully.
Account-Based Marketing vs Demand Generation: Which Is Best For My Company?
ABM and demand generation are both incredible marketing strategies, and if you use them correctly, they can help you to grow your business and achieve the success that you desire.
As mentioned earlier, ABM is a targeted campaign, and as such, it revolves around putting a lot of effort into nurturing a select number of leads.
Demand generation, however, is a constant process that requires constant vigilance if it is to be successful. As such, each type of marketing will benefit different businesses, depending on your goals and the resources you have to put into your marketing strategy.
When trying to work out which strategy is best for your company, you must liaise with your marketing team and find out what they feel is best for your company.
In many cases, both strategies could be useful and help to drive your company forward. ABM is better for achieving short-term goals and targeting specific leads, while direct marketing can help you to improve your overall sales and reach a broader range of customers.
How Do I Get Started With ABM or Demand Generation?
Hosting your initial ABM campaign is an exciting experience, but it also requires a lot of preparation and hard work. Make sure that you plan everything minutely, and that you have created personalised content that resonates with your lead or leads.
When you’re starting a demand generation campaign, you need to think about the long-term and make sure that you have a strong brand. Demand generation is closely linked to inbound marketing, so you should make sure that both strategies are in tandem.
If you’re struggling to understand which strategy is best for you, or you just need help implementing your marketing plan, then you can consider working with an outsourced marketing agency.
Find an agency that has experience implementing the style of marketing that you want to target so that they can offer you an expert service that helps you to achieve your business goals.
Learn More By Following ABM Hero
As mentioned above, the marketing landscape is continuously evolving, so you need to make sure that you keep your finger on the pulse. ABM Hero is here to help: sign up to our newsletter to get the latest ABM news, views and insight straight to your inbox!
