Take a look at your customer base and, if you’re a B2B company, you’ll find that it probably follows the 80:20 rule where the majority of sales (often around 80%) come from a small proportion of customers (that’s the 20%).
That being the case, it makes sense to focus your resources on these high value customers as that will give you more bang for your buck. That’s the principle underpinning Account Based Marketing (ABM), an approach where a separate marketing plan is created for each high value (or high potential) account.
If you’re planning to adopt an ABM approach though, it’s essential that your strategy is based on thorough research. Otherwise, you’ll simply be mass marketing to a smaller group. Here’s the three insights which should form the foundation of any ABM strategy.