Account-Based Marketing vs. Lead Generation Marketing
Lead generation marketing is marketing techniques that focus on introducing the consumer to the product or services of a business in hopes of raising interest or questions.
But what is a lead?
Let’s formally define a lead as a person who has made an effort to show some kind of interest in your company's product or service. Basically what this means is instead of randomly cold calling individuals, you would be contacting a person or business you have already had some kind of communication or interaction with.
So, if a lead is a business or person you’ve already communicated with, the lead generation is exactly what you would think. It’s the process of starting to communicate with strangers in the hopes of turning them into contacts.
When you start considering account-based marketing that leaves you with the question of if you should pursue more leads or better leads.
Lead generation marketing encourages you to pursue more leads. The idea behind this is that generating a greater number of leads you are cutting down on the number of cold calls you are making which then increases the chances of a successful sales call.
The marketing strategies that are centered around lead generation tend to be broad messages around general topics of interest your target market may have. By doing this you are attracting many leads but they may not be the right type for your company.
Account-based marketing, on the other hand, creates individual markets for accounts that you know are good fit for your company, bringing higher value to a select few accounts. ABM is then able to send a strategically customized message to each account, specially to certain members with purchasing influence. ABM allows access all the accounts that are harder, better, faster, stronger.
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