Account-based marketing (ABM) is a strategic marketing approach that focuses on targeting high-value accounts or customers instead of mass marketing to a broad audience.

Although the phrase was coined in or around 2002/2003, the utilisation and strategic implementation of this marketing process/strategy in the recruitment sector remains low today.

The recruitment sector can benefit greatly from the fundamental principles of ABM, but unfortunately, these principles are not fully utilised due to the significant gap between sales and marketing. Implementing an ABM strategy can help to bridge this gap, enhance marketing effectiveness, and ultimately lead to increased profits.

Key Learnings

1. Drive Sales and Marketing Collaboration to the Next Level with ABM!
2. How to Use the Building Blocks of ABM to Boost Your Recruitment Sales
3. Think Smarter, Not Bigger: How ABM Can Transform Your Sales Strategy Without Breaking the Bank!

What is Account-based Marketing (ABM)?

Here is leading CRM provider Hubspot’s definition of ABM:

“Account-based marketing (ABM) is a focused growth strategy in which Marketing and Sales collaborate to create personalized buying experiences for a mutually-identified set of high-value accounts.”

The last 20 years have seen ABM grow into something of a marketing phenomenon; so much so that 94% of B2B Marketers in a recent survey claimed to be using ABM, with mature programs delivering around 79% of sales opportunities. It really is the number 1 marketing strategy in B2B marketing.

The core concept of ABM is centered on the identification of a suitable set of accounts for the company’s product or service, conducting research on the crucial decision-makers within those accounts, and creating a tailored marketing strategy that addresses the unique needs and concerns of each account.

There are three main types or levels of ABM:

1. 1-2-many: is a hybrid model that focuses on targeting a specific set of accounts, but with a broader approach to marketing tactics (good segmentation)
2. 1-2-few: that focuses on targeting a select few high-value accounts with a highly personalised marketing approach. In this model, the marketing team identifies a small set of key accounts (again good segmentation)
3. 1-2-1: is a highly personalized model that focuses on targeting individual high-value accounts with a one-to-one marketing approach.

Power Up Your Sales and Marketing Teams with ABM: The Key to Greater Collaboration

(Account-Based Marketing) requires a close collaboration between sales and marketing teams in order to be successful. This collaboration involves both teams working together to identify high-value target accounts and to develop a customized marketing and sales strategy for each account.

This is essentially making sure that marketing speak to sales before any activity takes place to define the ideal client profile (ICP) and the total viable marketing (TVM).

This can be called a HIT LIST or TARGET LIST.

In the past, the Marketing Qualified Leads (MQLs) approach was disjointed, with marketing teams celebrating likes, downloads, and email subscriptions, but failing to convert them into sales. This was due to the classic MQL at all costs approach, which focused on quantity rather than quality. However, what the sales team really wants is a lead, conversation, or foot in the door within the target accounts in their hit list, which requires a more strategic and targeted approach.

And that all starts with a discussion between sales and marketing on their hit list.

Unlocking the Power of ABM: How Recruitment Companies Already Have the Building Blocks in Place!

Recruiters are the best marketing people. The best ones: identify the markets, identify their ideal client, communicate their message to them, to these lists defined by segmentation. Marketing 101.

They have their own lists. On the CRM, in their top drawer, on LinkedIn.

BUT, most recruitment companies won’t have developed the list for their entire company, just the recruiter target lists, so it’s marketing’s job to define and use this list. In most recruitment companies, this list will not total more than 500 target accounts or between 20 and 30 target accounts for each recruiter.

And most marketing people have never had conversations about that list or brought the lists together to build the TVM (Marketing 101).

As mentioned earlier, developing a list is the number one building block for starting an ABM programme. However, in most recruitment companies, this critical step is often overlooked, and instead, they focus on creating more content on LinkedIn to gain likes from people who are not in their Ideal Customer Profile (ICP) or Total Viable Market (TVM).

The benefits of moving to full fat ABM is increased conversions, retention and expansion in current accounts. Metrics that are business critical results not vanity metrics, more on this in future blogs.

Think Big, Spend Small: The Winning ABM Mindset

Once a hit list of high-value accounts has been developed, an ABM strategy can be developed to engage with and convert these accounts. The focus should be on this hit list, using a 1-2-many or 1-2-few strategy as outlined earlier. However, for super high-level accounts, a 1-2-1 strategy may be required, which will be discussed in future blogs.

Marketing efforts, including ads, emails, events, and content, should be directed towards this group. A variety of tactics, such as targeted advertising, personalised email campaigns, and customised content, can be used to engage and nurture leads within the Total Viable Market (TVM)

Marketing teams should prioritise quality over quantity and focus their energy on engaging with and converting leads within the TVM. By doing so, they can generate more excitement and revenue from high-value accounts.

Conclusion

Account-based marketing (ABM) is a strategic approach that focuses on targeting high-value accounts instead of mass marketing.

The recruitment sector can benefit greatly from ABM, but it remains underutilised due to the gap between sales and marketing.

To be successful, ABM requires close collaboration between sales and marketing teams, with both working together to develop a customised marketing and sales strategy for each account or group of accounts.

The key to starting an ABM program is developing a list of high-value target accounts.

Once a hit list has been developed, marketing efforts should be directed towards this group, prioritising quality over quantity to engage and convert leads within the Total Viable Market (TVM).