What Is ABM Marketing?

The digital marketing world is growing more complex. As a result, maintaining the health of your business’s online presence becomes vital. ABM Marketing is the newest tactic in the e-commerce marketing arsenal. Use it to help you stay ahead of the curve.

But you may be asking, “What does ABM stand for and how will it work to boost my sales?”. In this article we’ll explore the concept of ABM marketing. We’ll also dive into how the 4 Ps of a marketing mix enhances its effectiveness.

The 4 Ps are a mix of marketing models that are always important to know. They are Product, Price, Places, and Promotions. They help ABM marketing strategists develop deliberate marketing plans around products.

If you’d like to learn more about other marketing and ecommerce related topics, we cover a lot more on our blog, such as What is Web copy? and Ecommerce Marketing Examples. Be sure to check out all our currently available posts. 

What Is ABM Marketing?

ABM is a marketing approach that focuses on key accounts. It also uses data-driven insights to create relevant messaging. It's an e-commerce company’s secret weapon to stay ahead of the competition. After all, over half of the world’s online purchases come from personal recommendations. So, you’re also up against friends, family, and colleagues.

It’s easy to think about your entire target market as one big group. Thankfully, ABM allows e-commerce companies to focus on specific accounts within their market. 

Now that you know what ABM marketing and the 4 Ps marketing mix is, how do you integrate the two concepts?

How To Integrate ABM Marketing With The 4 Ps of a Marketing Mix

The "Product” is the first P of the 4 Ps of marketing mix that e-commerce companies need to tackle. ABM can help e-commerce companies promote their products to the most likely customers. E-commerce companies can use ABM tactics with their target account. It will determine what customers need and deliver better than the competition.

"Price" is the second "P" that e-commerce companies need to consider. ABM marketing can help companies determine their price structure. It is crucial to avoid leaving money on the table by charging more than necessary for products. At the same time, you must convince customers of your product’s value. Focus on quality and convenience to drive sales.

The third "P" that e-commerce companies need to focus on is "Promotions." ABM Marketing can help e-commerce companies prosper by promoting their products on social media. The easier it is to buy and share your product, the better.

The fourth "P" is "Places." Companies need ABM e-commerce marketing tactics to help decide where to sell products. For example, is it a good idea to sell on Amazon?

How To Install ABM Strategy In Your Business

Begin by developing buyer personas for each type of account within your target market. You should tailor your e-commerce marketing strategy to each persona. Focus on the specific needs and desires of that type of customer.

So, you've created a buyer persona for your target accounts. Now what? E-commerce marketers can start working on their ABM approach in three main areas: 

• Lead generation

• Account engagement

• Sales outreach

But, how is it done? Here are a few practical examples.

Lead Generation 

E-commerce marketers should use ABM to focus their lead generation efforts. Keep an eye on accounts with the highest likelihood of becoming customers. These are likely the ones most engaged with your company's product or service. Companies can determine this from customer account activity data within their target market.

Account Engagement 

Second, e-commerce marketers can engage with these accounts tailored to the specific customers' needs and interests through history nurturing campaigns that use data from lead generation efforts. E-Commerce companies should also focus on marketing tactics that help them to determine their price structure.

Sales Outreach 

Third, e-commerce marketers can use ABM to engage with accounts to drive them towards partaking in account sales outreach campaigns and targeted email campaigns. E-commerce companies can use marketing tactics to navigate the sales process by making it easy for customers at all levels of engagement to buy and share your product within their networks.

Benefits Of Implementing ABM Marketing Strategy

Lastly, account-based e-commerce marketing offers many benefits for companies, including reduced lead generation costs and higher sales conversion. ABM is an efficient way to stay one step ahead of your competitors by focusing on key accounts within a specific market that can help create customized product messaging just how they like it!

In summary, with ABM, you can reach a specific audience with the right message at the right time. This strategy will help your startup grow by building relationships as well as connections. Now that we've discussed ABM and how to implement an ABM marketing plan for your business, are you ready to get started? Let us know! We would be happy to take care of all the hard work, so you don't have to!