While the account may have been generated and nurtured by marketing using digital channels from the business as a whole, Node reports that ABM only generates 15-20% penetration into target accounts.
Account-based selling is the process of deepening those mobile number in cambodia relationships with one-to-one, direct communication that is still highly personalised and tailored to the prospective account.
Both ABM and ABS are required to successfully win key accounts.
In fact, the two are so intrinsically linked that there’s a new term that tries to cover all aspects of account-based activity: account-based engagement (ABE).
The definition of account-based engagement
According to BCG:
“Using the term account-based engagement (ABE), rather than account-based marketing, shifts the focus to aligning marketing with sales and service and better communicates what is critical for success. This helps clarify and position what’s required for senior marketing, sales, and service executives and their organizations to be successful with this strategy and adapt the approach for their business models.”
In a nutshell, account-based engagement involves marketing, sales, and customer service teams for a united approach to identifying and winning key accounts, through multiple touchpoints that are highly personalised.
Consider ABE the holy grail of new business strategy!
So why Marketing Cloud Account Engagement’?
For all of our confusion, when Salesforce decided to change the name of Pardot to Marketing Cloud Account Engagement, they did so with reason and purpose.
Primarily, Pardot has been used for winning business accounts rather than sales from individual consumers. Having account’ within the product name makes it obvious that the tool is ideal for (although not limited to) those longer sales cycles and nurture activities associated with business-to-business transactions.
Account-based engagement is also the way of the future for many of these businesses with high-value, sales team led products or services. Given that Pardot is a powerful tool that can make much of this approach possible for its users, it makes sense to allude to this within the name.
As Salesforce describes the platform:
“Marketing Cloud Account Engagement helps you align marketing and sales around leads, buyers, and accounts to close deals faster.”
It may be a mouthful, and a long name to include within our own marketing materials as a Marketing Cloud consultancy, but Account Engagement is logical and we’ll all have to get used to it!
If you’d like to explore how Marketing Cloud can support your ABM or ABE strategy, get in touch.