What is Account-based marketing?
Account-based marketing (ABM) is a laser-focused approach to lead generation that targets high-value accounts. Unlike the traditional lead generation approach, which casts a wide net, ABM narrows its focus to selected prospects. B2B lead generation companies target ideal customer profiles (ICP) and select those most likely to generate maximum revenue. Today, intent data has become the cornerstone for identifying target accounts, and ABM requires accurate data to yield a high ROI from the ABM campaign.
Lead generation companies use firmographic, demographic, and technographic data to identify ideal customers. ABM works best when marketing and sales teams align to deliver relevant and personalized communication throughout the buyer journey. Hyper-personalization drives engagement in ABM. In fact, 93% of marketers using ABM agencies say their campaigns have been highly successful.
An ABM campaign’s success depends on the personalization factor that builds a meaningful connection with prospects. An ideal campaign uses a multi-channel B2B lead-generation approach to target high-value accounts. An account-based marketing program can fetch high-quality leads that make a substantial difference in revenue generation. Click here to learn how a B2B sales lead generation agency can help you implement data-backed ABM programs.
ABM has been a game-changer for businesses, but what is ABX that is making waves in the B2B landscape? Let’s find out. In fact, read further, even if it’s ABX vs ABM, or if both are the two sides of the same coin!
What is ABX?
ABX is an acronym for account-based experience (ABX), which is an evolved approach to the traditional account-based marketing program. ABX enhances the entire customer journey, from acquisition to post-sales, focusing on delivering a consistent experience. It is all about creating a seamless experience for the lead who will eventually become a customer after engagement. Actually, it’s not about ABM vs. ABX; it’s about enhancing the existing ABM strategy with ABX. The strategy involves building and further strengthening more meaningful connections through customer success and customer expansion initiatives. It’s no longer just about customer acquisition but also about expanding relationships with them, rather than halting efforts after lead generation.
Key Differences between ABM and ABX in B2B Lead Generation
ABM focuses on personalization with the help of data-driven insights to engage high-value accounts. Data helps in building meaningful connections. It enables businesses to generate high-quality B2B leads and increase revenue by acquiring the selected accounts. Account-based experience (ABX) focuses on improving the customer experience across the entire buyer journey in the B2B marketing funnel. It begins with building connections, lead generation, customer acquisition, followed by customer success and driving loyalty through customer expansion initiatives.
Markable Solutions offers a holistic 360-degree approach to B2B lead generation through account-based marketing programs, leveraging account-based experience to drive long-term, positive results for our clients.
Conclusion
ABX stands for “Account-based experience”; it’s an approach that elevates the ABM program in the true sense. It’s an evolved form of account-based marketing, which leads us to discuss the tussle between ABX and ABM. ABX builds on ABM by focusing on the entire customer experience. It aims to build lasting relationships and drive long-term growth, enabling businesses to maximize revenue.
FAQs
What is the ABM strategy?
ABM is a laser-targeted B2B marketing strategy that focuses on converting high-value accounts. It adopts personalized approach to engage a select group of accounts and concentrated on customer acquisition.
What is ABX?
ABX, or account-based experience, ensures that personalization does not end with lead generation and customer acquisition. It extends the entire buyer journey into the B2B marketing funnel, from presales to post-sales. It involves customer success and customer expansion strategies to encourage customer loyalty and increase the customer lifetime value (CLV).
What is the difference between ABM and ABX?
ABM focuses on acquiring new customers with a hyper-personalized approach, while ABX focuses on customer acquisition and retention. It improves the overall customer experience (CX).
Should businesses implement both ABM and ABX, or is it ABX vs ABM?
Yes, businesses should integrate ABM and ABX strategies. It will enable businesses to increase customer retention and achieve customer expansion goals.
