Account Based Marketing vs Inbound Marketing, Simplified
Have you been wondering whether you need to use inbound marketing or Account Based Marketing? To answer at once, I would suggest, use both as they both can complement each other well. Let us first understand what Account Based Marketing is and then we will see Account Based Marketing vs Inbound Marketing difference.
Since account based marketing directs focusing on a particular organization as opposed to drawing in a wide range of leads, it’s natural to accept that account-based marketing and inbound marketing are contrary. In any case, that is not valid. Inbound and ABM can really be in combination since they share a couple of principles.
If you are thinking to skip doing ABM, you need to understand what ABM is what it is not. Let’s put it simply, ABM helps you to send personalized messages and focus on individual accounts rather than focusing on generating dozens of leads.
Square 2 states in this way –
ABM is a strategy that applies the standards of inbound marketing to those individuals who have not yet begun their buyer journey.
Let’s see the difference between Account Based Marketing vs Inbound Marketing.
Account Based Marketing vs Inbound Marketing
- Unlike inbound marketing which focuses on a huge audience, Account Based Marketing focuses on only a few potential clients.
- ABM focuses on previously defined ideal customer profiles rather than filtering leads later on.
- ABM uses content that is targeted and relevant rather than attracting anyone and everyone as inbound marketing does. In inbound, you cannot control who will read your content or download your eBook.
ABM is executed using below four steps –
This stage defines your ideal customer profile based on the number of criteria such as age, industry, technologies they use, etc.
You don’ t stop just after listing down your target accounts but you also find out who are the key decision makers in your target account.
After you collect all the insights from the social media, you can run personalized campaigns.
Once you start catering to your clients’ needs, you start getting referrals and recommendations.
Inbound aims at increasing their sign-ups and hence expect prospects to visit your website to further guide them to your sign up form. Inbound marketing after getting the leads nurtures them through an email newsletter. Leads are then filtered on the basis of the interest they have shown.
But ABM is different because it first identifies the target audience and then focuses only on them by doing personalized campaigns. Account Based Marketing aims at building strong relationships. This can be done by sending personalized emails to individuals in the target accounts than sending mass emails to many people in the same organization.
Account Based Marketing vs Inbound Marketing – When should you use what?
Because ABM is trending recently doesn’t mean inbound marketing is not winning big deals anymore. You need to decide which one is better for you depending on what you are aiming at. For example, for SMEs, if you use inbound marketing then it would be cost-effective for you but for big businesses you need to use ABM. If you see 99% of the marketing efforts and budget is wasted in inbound since only one out of 100 leads gets converted. Hence using inbound for SMEs pretty much makes sense.
If your deal size increases, then you only have a small group of companies and a few individuals in it to target. In this case, if you use ABM, you are allocating most of your budget and efforts on these accounts thus optimizing for 99% that you couldn’t convert using inbound marketing.
You can also use inbound first and then whatever leads you to get, those you can target using ABM.
Decide who do you cater your solutions to and depending on that, you can decide whether you need to go for inbound or ABM marketing. For example, if you need to sell cooling systems to Penguins, you will not target any other animal in the zoo. Your potential customers would be Zoos in your country. ABM’s focused approach will help target all the decision makers.
Inbound marketing uses blogs, landing pages, and service pages whereas ABM uses detailed content such as webinars, case studies, infographics, reports, etc. Inbound helps prospects as they research for the products online by answering their questions.
Why should you combine inbound and Account Based Marketing technique?
Though inbound is not purely a marketing activity, it is particularly focused on marketing while ABM on sales and traditionally these two teams work independently. Using a combination of techniques can bring both the teams together. It can be difficult to decide which marketing strategy to use. But by using a combination of techniques, you can achieve your company’s business goals. Design your content strategy to serve both purposes of reaching key individuals and driving more traffic to your website.
This was a lot of input from our side on Account-Based Marketing vs Inbound Marketing. Now, we are waiting to hear it from you. Why not comment in below section?