TLDR:
There are three key reasons that marketing efforts should be started with demand generation instead of ABM. The first is because ABM is hard to execute if it’s the only means of generating revenue. Second, demand generation will be needed anyway if marketers are going to tier their prospects, which is characteristic of ABM. Lastly, marketers can apply lessons from demand generation to ABM.
Much of what marketers can find about adopting ABM comes from a place of having a lead-centric system in place. This is particularly problematic for businesses that are just getting started in marketing.
For instance, because ABM tends to require organizational buy-in, it’s hard to do effectively if it’s the only means an organization has to bring in revenue. Companies that are just starting out would benefit more from an ABM strategy that assists existing ones, rather than replacing them outright.
Even Forrester cites that the overwhelming majority of marketers believe that ABM is a marketing philosophy designed to help demand generation activities. It’s a strong argument for demand generation receiving priority over ABM.
Complimenting this argument is the fact that the tiering system on which ABM is based is rooted in demand generation to begin with. This is seen in the hyper-personalized outreach efforts in strategic ABM (tier one), personalized outreach to similar groups in ABM lite (tier two), or the general outreach attempts made to the wide marketplace in programmatic ABM (tier three).
Companies just starting in marketing would want to start with wide market demand generation efforts. The tendency to consistently measure results in traditional demand generation strategies is ideal preparation for the extensive measuring required of an ABM program.
There’s a lot of overlap involved. Not just in measuring, but in knowing which messaging performs best and which don’t. If companies new to marketing get started with demand generation first, they’ll be able to take advantage of the promise ABM makes to get greater ROI.
It makes perfect sense, strategically, anyway—it would be best for marketers to learn the basics before advancing to ABM.
Original article from Business2Community on 29 April 2019.
