How to differentiate your business in a competitive market

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Marketing has become increasingly competitive with the development of technology such as automation that enhances the process. And, many businesses have scrapped traditional marketing in favour of Account Based Marketing (ABM) to remain competitive.

So, what is account based marketing?

ABM is a business-to-business (B2B) strategy that focuses sales and marketing resources on target accounts within a specific market.

But, with 70% of B2B organisations either adopting or planning to adopt ABM practices, your business needs to have a thorough understanding of ABM and how to execute a campaign effectively to stand out amongst market ‘noise’.

People switch off to marketing communications if they’re not relevant or personalised, and the statistics below demonstrate this.

• Last year, 12.2 million people in the UK blocked ads on a desktop computer, laptop or smartphone (Marketing Week)
• 62% of consumers expect companies to send personalised offers or discounts based on items they’ve already purchased (Salesforce)
• 56% of brands using an emoji in their email subject lines had a higher open rate (Experian)
• 90% of leading marketers say personalisation significantly contributes to business profitability (Google)

The benefits of ABM

So many businesses are trying to nail ABM because it yields so many benefits, with 85% of marketers reporting that it significantly benefited them in retaining and expanding existing client relationships (Marketo).

If you execute ABM well, it will differentiate your business and deliver:

• Quality lead generation
• The opportunity for more personalised marketing communications that results in greater conversion
• Measurable progress and ROI
• Shorter sales cycles
• Sales and marketing team alignment
• Trustworthy client relationships

Businesses and consumers have more choice than ever in the marketplace, with many business offerings seeming the same approach to grow. When used effectively, ABM can help you gain a competitive advantage and can position your business as the solution to your prospects’ problems.