Account Based Marketing (ABM) has established itself as one of the most effective strategies in B2B marketing by enabling companies to target the needs and challenges of individual key customers. Generative AI (GenAI), an advanced form of artificial intelligence that can create content, analyse data and develop customised solutions based on these insights, is powering ABM in a whole new way. By integrating GenAI into ABM, companies can not only gain deeper insights into the needs of their target customers, but also create highly personalised and relevant content at scale. This article explains the basics and uses simple examples to show how GenAI can fully realise the potential of ABM. It also presents tools that already combine GenAI and ABM today.
Account Based Marketing
Account Based Marketing (ABM) is a strategic marketing method that focuses on the individual needs and challenges of selected target customers. In contrast to traditional marketing, which aims to address a broad target group, ABM focuses on specific accounts in order to develop customised campaigns and address the needs of these accounts in a targeted manner. The comparison of fishing is often used: traditional lead generation fishes with nets and catches a lot of unnecessary by-catch in addition to the target customers. Account-based marketing, on the other hand, uses spears - in other words, it only catches customers who fit into the ‘prey scheme’.
Steps in account-based marketing
In contrast to inbound marketing, where all incoming prospects are selected at the end, ABM starts with selection at the beginning. This allows a very specific target group with individual problems to be addressed on several channels. ABM also addresses several target groups, but each with dedicated campaigns:
- Identification of target accounts: The first step is to identify the companies that offer the greatest sales potential and narrow them down precisely based on criteria
- Creation of account profiles: A detailed profile is created for each target account, containing information about the account's specific needs, challenges and decision-making processes.
- Contact identification: For the companies identified in this way, the corresponding people who fit the profile are found.
- Development of personalised campaigns: Customised marketing and sales strategies are developed for the contacts that are precisely tailored to their needs and interests.
- Execution of the campaigns: Campaigns are played out on various channels (e-mail, social media, online/offline advertising, calls).
- Measurement and optimisation: The results of the ABM campaigns are continuously monitored and analysed in order to measure success and adjust and optimise the strategies if necessary.
Advantages of account-based marketing
The targeted focus on individual customers makes it possible - especially for companies in niches and with high turnover per customer - to utilise sales resources more efficiently and create a measurable customer journey.
- Personalisation: ABM makes it possible to create highly personalised content and offers that are precisely tailored to the needs and challenges of the target accounts.
- Efficiency: By focussing on selected accounts, marketing and sales resources can be used more efficiently, resulting in higher conversion rates and better use of budget.
- Stronger customer relationships: ABM encourages the development of deeper and more long-term relationships with key customers, resulting in higher customer satisfaction and retention.
- Measurability and ROI: ABM campaigns are often more measurable than broad marketing campaigns as the target audience is clearly defined and specific KPIs can be set for each account. This makes it easier to monitor the success and optimise the campaigns.
Generative AI
Generative AI, such as ChatGPT, is an advanced type of artificial intelligence that is able to create new content from input data (usually textual instructions) that goes beyond text. For example, an AI can create images, videos or pieces of music.
The latest GenAI versions also have access to the internet and can therefore independently perform complex tasks such as researching company information.
Use cases for generative AI in account-based marketing
Generative AI enables the automation of many data analysis and research tasks in ABM as well as the creation of new and highly personalised content. In principle, this makes it possible to create a marketing campaign that is individually tailored to each lead. This makes ABM not only significantly more efficient, but also more effective. Let's look at this using a concrete example.
ABM for a new target group
Let's imagine we are a manufacturer of cosmetics packaging who has now also developed sustainable paper packaging for shampoos and therefore needs to reach a new target group.
Identification and information research
In order to gain a foothold in the market as quickly as possible, the first step is to utilise existing customer relationships and identify the companies that manufacture hair care products as well as cosmetics - a time-consuming undertaking with several thousand customer relationships. With GenAI, this type of research is possible in no time at all. Modern tools can analyse and evaluate existing lists according to any criteria. In addition, publicly accessible information can be researched automatically, which can then be used for a personalised approach.
Tools for customer segmentation and research: clay, venta
Identification of suitable contact persons
New contacts are also needed for the new product. Here too, artificial intelligence can help to automate the research. Modern tools usually have their own database and provide a range of contact options, such as LinkedIn profiles, emails or even telephone numbers.
Tools for lead identification: apollo, cognism, zoominfo, venta and a lot of others
Generate content
The contacts should now be approached on various channels, such as LinkedIn or by email. Marketing materials should be created and content generated for this purpose. In addition to ChatGPT, which is well suited for creating marketing texts, there are now several new tools for creating media.
Tools to create images: canva, freepik, adobe firefly
Tools to create videos: pika, canva
Tools to create sounds: elevenlabs
Personalisation
With the help of GenAI, individually personalised messages can be generated completely automatically. This means that not only the information found about a company, but also social media posts or similar activities by individuals can be processed into personalised messages. A message like this could be generated:
‘Hello Mr Reuther,
I saw your last post on LinkedIn about the sustainable orientation of Reuther Kosmetik- und Haarpflege. In it, you also mention that you are trying to save plastic in the packaging. We have developed shampoo packaging that is made of 100% paper and is compostable. Would you be interested in having a chat with us?’
Tools to personalise messages: ChatGPT, amplemarket, venta
Measuring and analysing
Measuring success is a key aspect of ABM and is significantly improved with the help of GenAI. Instead of just measuring click or response rates, it is now also possible to analyse the type and manner of interaction. For example, email responses can be automatically checked for content and categorised. This makes it quick and easy to gain new information and initiate the next steps: if an out-of-office email is recognised, for example, an email can be sent automatically after the end of the holiday.
Tools for E-Mail Handling: venta, lagrowthmachine, monkeylearn
New tools for analysing the customer journey also make it possible to analyse the entire buying journey in ABM.
Tools zur anlyising the Customer Journey: hockeystack
Conclusion
Account Based Marketing (ABM) has established itself as a particularly precise and effective strategy in B2B marketing by enabling companies to target their sales and marketing activities to selected key customers. The integration of Generative AI (GenAI) into ABM takes this strategy to a new level by allowing companies to gain deeper insights into the needs of their target customers and create highly personalised content at scale.
This article has highlighted the basics of account-based marketing and the key benefits of this method, including increasing efficiency and improving customer relationships through customised campaigns. The application of GenAI technologies further enhances these benefits. GenAI offers powerful tools for data analysis, research automation, content creation and communication personalisation. Relevant tools have been linked in the article.
Bonus
As mentioned, Generative AI can also compose pieces of music, e.g. this song for all readers who have read to the end of this article: https://suno.com/song/55ac21b0-b7a1-4a01-baf5-1b50c1be9484
