ABM is a consistent performer at the B2B level when compared to other marketing strategies. But it’s unfortunate that it’s not being adopted widely as a go-to strategy to deal with target accounts.
There’s a reason for that to happen. People implement ABM without a tailored approach and thus leading to a failure. This made many business people bat a dead eye on this miraculous technique due to some illusions. Here we present you with common misconceptions and the exact reality of ABM.
Myth #1: ABM is hard to implement
You may feel like it’s hard to implement because you have to target high-quality clients and use extensive technology. So, it takes a huge amount to spend on clients as well as on technology.
But for your comfort, look at the ABM evolved all these years as a success. Make your own strategies and set the limits without reducing great weight out of your wallet.
Don’t implement ABM on a wider scale. Select personalised contacts at small scale and set a campaign on them. You can succeed in big time.
Myth #2: ABM is totally NEW
This is the biggest myth surrounded around ABM which let the people to not try the method which is not proven. But yeah, let me say you, ABM is not at all new. Yeah, of course, the acronym may be new but the idea of doing target account marketing and selling is not new.
In those days, marketing and salespeople used to target potential customers with customised offers. It’s just some additions like technology, digital campaigns and advanced metrics to this old age theme and people started thinking otherwise.
Dive in through and you will find ABM still uses the traditional theme of tactics to interact with prospects in a better way.
Myth #3: ABM is only for marketing
The entire theme of ABM relies on marketing and sales integration and it’s really surprising to see people have misconceptions related to this issue. The marketer cannot achieve ABM goals all alone.
Marketers create content and it’s the duty of sales to lay it as a foundation and launch further interaction with the target accounts. The mistake of most business people is that they lay off sales completely out of sight in the ABM campaign. But the truth is that ABM without its two eyes i.e. marketing and sales will look completely blind.
Myth #4: ABM is just a replacement of Sales
By the overview of it, it does sense like ABM is a replacement of sales as it includes sales operations like targeting contacts and engaging with them. But there is a hidden truth that ABM also includes monitoring the target accounts and providing them with relevant content and analyse their metrics etc.
The sales and marketing as a whole constitute ABM and without any one of them, your ABM campaign is a real disaster.
Myth #5: ABM is either all or nothing
Some business people think that it’s all about implementing ABM at every product. But no, if your product is well renowned and widely circulating in the market, you need not opt for ABM and you can choose other marketing options. It’s a process of implementing both inbound and outbound at tandem wherever required.
Your success in ABM is more of a controlled one compared to inbound marketing as you deal with accounts in a more personalised manner. Your success in ABM depends upon how well you researched, monitored and connected with the target accounts.
Myth #:6 ABM is a SAVIOR of all marketing woes
First things first, it’s just a strategy, not MAGIC!
Yeah, ABM is a perfect tool to implement in marketing that solves many marketing problems. It has its limitations as well. ABM is solely meant for the individual or some group accounts. But if you implement ABM to a large audience base, it can’t guarantee success.
If the leads approach you to make a signing, then you can further work on them and nurture them by specific ABM campaigns. ABM campaigns play their part effectively. But, they can’t single-handedly solve all marketing-related problems.
You have every need to clarify these myths in order to have a broader context on ABM. Else, you would end up not implementing it effectively or executing it to failure.
It’s not a smooth sail throughout while carrying out the ABM process. There are many roadblocks around in the form of challenges and mistakes that can make implementing ABM, a difficult task.
To be cautious, let’s learn about various barriers for ABM fully implementing ABM: