The foundation of a successful account based marketing (ABM) campaign comes with having a solid grasp on the overall strategy. While there may be a million different articles, webinars, and think-pieces out there on the different facets of ABM, they all come down to one central tenant: ABM is a B2B marketing strategy that targets high-value accounts with tailored content and messaging. There is no “cast a wide net” metaphor here; ABM tools, digital channels, and outreach tactics function so your marketing and sales teams can use their resources in a highly effective, focused manner.
The second concept every B2B marketer should know is there is more than one type of ABM—each with its own set of guidelines and best practices.
- 1:1 ABM (also called Strategic ABM)
- 1:Few ABM (or ABM Lite)
- 1:Many ABM (can be referenced as Programmatic ABM)
Here, we’ll focus on the difference between one-to-one and one-to-few ABM, but if you decide to dive deeper into the world of account-based marketing, it’s imperative to know which tactic (or blend of tactics) will work best for your company, the product or service you offer, and your audience.
What is a 1:1 ABM campaign?
One-to-one account-based marketing is a strategy that delivers bespoke content and messaging directly to individual target accounts, treating each account as a market of one. These strategies lead to better engagement, improved relationships, and company loyalty with prospective customers.
To build meaningful relationships with your target audience, your messaging needs to be relevant, action-oriented, and, above all, personalized. Some of the most effective one-to-one strategies include:
- Customized Content: Delivering content that incorporates an account’s specific struggles is an effective way to show your prospects you’ve done your research.
- Tailored Online Experience: Provide a unique online experience with custom web pages—incorporate their company logo, name, and even job title.
- Targeted Promotions and Deals: Engage your audience with targeted promotions offering a discounted solution to an immediate problem.
Building relationships is crucial not only for driving conversions, but for customer retention as well. Research by Bain & Company on the impact of customer loyalty on cost savings found that an increase in customer retention of just 5% produces an increase in revenue of more than 25%. Additionally, the Database Marketing Institute reports that developing meaningful relationships increases the number of orders placed by customers and the average size of orders, leading to an increase in total revenue.
What is a 1:Few ABM campaign?
One-to-few account-based marketing is similar in that it focuses on personalizing engagement for a small group of relevant target accounts. The same content personalization strategies as one-to-one marketing are used, but they’re scaled up to target a larger number of accounts that share similarities in profile and industries. One-to-one and one-to-few ABM both rely on developing an understanding of your audience and nurturing relationships through relevant, reliable content—not by bombarding them with endless ads and offers.
Should you use one-to-one or one-to-few ABM?
It depends on the product or service you’re offering and the number of resources—time or money—you have available. Creating customized assets for every single target account in a 1:1 ABM campaign is time-consuming and expensive, while one-to-few ABM enables you to scale your approach to more efficiently reach larger groups of relevant accounts. These accounts can be grouped by industry, job title, or even specific pain points, and from there, content can be optimized to generate better engagement with each group of accounts. With one-to-few ABM, you can target entire buying committees with relevant, consistent messaging to achieve buy-in from the entire team.
Benefits of One-to-One and One-to-Few ABM
Generate Engagement
Consistent, personalized messaging designed to resonate with in-market audiences increases the quality and quantity of engagement with relevant accounts. As accounts move through the funnel, your content becomes more customized to address each account’s specific needs. According to LinkedIn, customizing content by 20-30% results in an average increase in engagement of 27%. More engagement leads to more conversions and, you guessed it, more successful campaigns.
Build Trust / Reputation / Market Share / Authority
One-to-one and one-to-few ABM work to establish your company as an industry authority that can be trusted. As your reputation (or market share) grows, valuable prospects will seek you out as an expert opinion on the issues they encounter. Trust is fundamental to closing deals; if buying committees trust your company, they will trust your product or service when it comes time to purchase a solution.
Grow Your Revenue
Your one-to-one and one-to-few strategies, if executed successfully, will fill your sales funnel with high-value prospective customers. By only targeting a smaller number of accounts, your budget is used more efficiently, preventing wasted energy and ad spend, and improving your ROI.
Interested in learning more about account-based marketing? Schedule a demo with our team.