Etini
Valued Contributor
Traditional marketing strategy has always focused on generating leads as an effective marketing strategy. However, it has been discovered that less than 1% of these leads ever progress to become potential customers. This is the reason a new, more efficient marketing model had to be introduced. It is called Account Based Marketing. This marketing approach requires that marketing efforts should be specialized according to prospective customers' special needs. It advocates that instead of targeting a wide range of audiences with marketing approaches, a marketer should do more to identify a lead that has a higher potential to become a patron, find out what methods would best suit that prospective customer, and then undertake it.
If understood properly, ABM is cheaper and more effective than the traditional lead-generating type of marketing. There is no need to try to market diapers to a student. With this approach, diapers would most likely be marketed to newlyweds and couples because they are the demography most likely to patronize the product.
If understood properly, ABM is cheaper and more effective than the traditional lead-generating type of marketing. There is no need to try to market diapers to a student. With this approach, diapers would most likely be marketed to newlyweds and couples because they are the demography most likely to patronize the product.