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Account Based Marketing (ABM)
Account based marketing (ABM) refers to high-level coordination between marketing, sales, account management, and customer success to gain or grow customers at the account level (and not the individual contact or lead level). With ABM, the idea is that the highest value B2B customers are companies, and to keep and grow a customer, you need to win an entire account, not just one or two people who work there.
Account based marketing is a lot more than just marketing. To be successful at ABM, your entire revenue organization needs to be on board - you need alignment across all customer-facing departments. You need to instrument and align your tech stack and other tools, as well as your processes and people. Everyone should be using the same CRM in the same ways - your CRM should be the sole source of truth about your customers. In addition, your company needs to have a well-defined buyer journey with clear stages. Finally, you should be sure your company has a mechanism for identifying and correcting problems quickly.
Some people use the term ABX, as well. That means account based experience. Learn more about that with our free guide here.
Looking for even more details about implementing an account based marketing program, watch this Q&A with ABM expert Erik Huddleston.