Account-based marketing is the most trending B2B Marketing strategy today and why wouldn’t it be? According to research by the Information Technology Services Marketing Association or ITSMA, 87% of marketers that measure ROI say that ABM outperforms every other marketing investment.
With all the discussions revolving around ABM, the most important or rather talked about topic is, ABM or Inbound, which is better? And this is exactly why you are here, aren’t you?
Well, to answer in short, we would say, they both are incomparable with each other and are rather complementary. To understand this further, let’s first define what ABM and Inbound are and how to do these strategies work.
Account-Based Marketing- A popular word, but what is it?
ABM is a growth-focused strategy in which the Marketing & Sales team collaborate to select a very specific group of accounts of high value and create personalized buying experiences for them.
The process begins with the alignment of sales and marketing teams who together choose a small set of accounts that have the potential of giving the highest ROI.
Once the target accounts are selected, both the teams work together to form sales and marketing strategies personalized and customized specifically for these accounts.
This would not just save time, money, and resources put into narrowing the best accounts from a pool of many accounts, but would also create a consistent buying experience for them.
That’s how ABM helps you shorten the sales cycle and put in more time to delight your target accounts helping you strengthen your relationship with them and increase ROI.
Now let’s move on to what Inbound marketing is for those who are not familiar with this term.
Then what is Inbound Marketing?
Hubspot defines inbound marketing as,
“A business methodology that attracts customers by creating valuable content and experiences tailored to them. While outbound marketing interrupts your audience with content they don’t want, inbound marketing forms connections they’re looking for and solves problems they already have.”
This way, you attract leads or potential buyers without selling or marketing directly to them.
Now, the crux of the matter: How are these strategies complementary to each other?
Though the goal of both these methodologies is to ultimately delight the prospects with personalized content and convert them into customers, inbound doesn’t reach out to the target audience but rather organically attracts them.
Whereas, ABM is an outbound strategy wherein you reach out to a very few selected accounts and plan a highly customized strategy specifically for these accounts.
Thus an inbound strategy cannot allow you the level of personalization to your leads as high as ABM can. And as ABM can only be implemented efficiently with a very limited account, it is nowhere as scalable compared to inbound marketing. This is exactly why both these strategies are highly complementary to one other.
With an integrated approach of both ABM and Inbound, one can attract prospects that may be missed due to the narrow approach of ABM, and, on the other hand, turn a lead into a customer due to a personal approach by ABM which wouldn’t be possible with inbound.
Additionally, your inbound strategy may bring in the most ideal candidate in your database to which you just have to target more personally using ABM without having to reach our to select the target accounts and reaching out to them.
So, what do you think?
Is there still a need to compare these two strategies when one can benefit more by using both in integration? Let us know your thoughts in the comments.
Also, if you are someone whose company does not have the time, money, or resources to use ABM for greater ROI, it is always the best idea to invest in ABM expert Lead generation agency such as Lorac Media. Visit here to know more about us.