Account-Based Marketing vs Traditional Digital Marketing: Which Approach is Right for Your B2B Business?

Two strategies stand out in the ever-evolving world of B2B marketing: Traditional Digital Marketing and Account-Based Marketing (ABM). But which one is right for your business? Let's dive in and explore these approaches to help you make an informed decision.

The broad reach of traditional digital marketing

Picture casting a wide net into the vast ocean of potential customers. That's what traditional digital marketing does. This approach is about reaching as many people as possible through various online channels.

Here's what you need to know about traditional digital marketing:

• It's a numbers game aiming to generate a high volume of leads. Traditional digital marketing is all about quantity. By reaching a larger audience, you increase the chances of attracting more potential customers.
• Utilizes tactics like SEO, social media, email marketing, and content marketing. These tactics are essential for increasing your online visibility, engaging with your audience, and driving traffic to your website.
• Great for building brand awareness and reaching a large audience. Traditional digital marketing is ideal for businesses that want to establish their brand and increase their market reach.
• Cost-effective for businesses with larger target markets. While the initial investment can be significant, traditional digital marketing can be highly cost-effective, especially for businesses with a large target audience.

Traditional digital marketing might be your go-to strategy if you want to make a splash and get your name out there. However, it's important to remember that while it's effective for reaching a large audience, it may not be as targeted as other approaches.

Here’s a detailed guide explaining the fundamentals of B2B marketing.

The laser focus of account-based marketing

Now, imagine trading that wide net for a precise spearfishing approach. That's ABM in a nutshell. This strategy is all about identifying and targeting specific high-value accounts or companies.

Key points about account based marketing:

• Focuses on key decision-makers within specific accounts. Unlike traditional digital marketing, ABM is not about reaching the masses. It's about targeting the key individuals within specific accounts who have the power to make purchasing decisions.
• Tailors personalized marketing strategies for each account. ABM is highly personalized. It involves creating custom content, messaging, and experiences that resonate with the specific needs and interests of each target account.
• Ideal for B2B companies or those selling high-ticket items. Account based marketing is particularly effective for businesses that sell complex products or services to a limited number of customers, like B2B organizations. It's a great way to maximize your return on investment by focusing your efforts on the most valuable accounts.
• Emphasizes developing relationships with selected high-value accounts. ABM is not just about marketing; it's about building relationships. By nurturing strong relationships with key decision-makers, you can increase your chances of closing deals and securing long-term partnerships.

77% of businesses report revenue growth with ABM strategy for their B2B business.

Account-based marketing is a more targeted and strategic approach than traditional digital marketing. It requires a deep understanding of your target accounts and a willingness to invest time and resources into building relationships. If you prefer quality over quantity and have the resources for data-driven personalization, ABM could be your ticket to success.

Here’s how you can use your customer data for B2B marketing success.

So, which aspect of marketing should you choose for your B2B business?

The million-dollar question! The truth is there's no one-size-fits-all answer. Your choice between traditional digital marketing and account-based marketing depends on your business priorities and resources. Let’s understand what suits your B2B marketing strategy.

Here are some factors to consider when making your decision:

Business goals

• Lead generation: If your goal is to generate a large number of leads, traditional digital marketing may be a better fit.
• Revenue generation: If your goal is to generate high-value revenue from a smaller number of customers, account based marketing may be more effective.
• Brand awareness: If you're looking to build brand awareness and reach a wider audience, traditional digital marketing can be a good option.

Target audience

• Size: If your target audience is large and diverse, traditional digital marketing may be more suitable.
• Specificity: If your target audience is small and well-defined, ABM can be a more targeted approach.

Resources

• Budget: ABM can be more expensive than traditional digital marketing due to the personalized nature of campaigns and the need for dedicated resources.
• Time: Account-based marketing requires a significant investment of time and effort to identify target accounts, develop personalized campaigns, and build relationships.
• Expertise: Implementing an effective ABM strategy often requires specialized skills and expertise.

Sales cycle

• Length: If your sales cycle is long and complex, ABM can be a more effective way to nurture relationships with potential customers.
• Value: If your products or services are high-value, ABM can be a more profitable approach.

The best of both worlds: Combining traditional digital marketing and account based marketing

Here's a little secret: You don't have to choose just one. Many successful B2B companies use a combination of both approaches. You could use traditional digital marketing to cast a wide net and generate leads, then switch to ABM to nurture and convert your highest-value prospects.

A hybrid approach can be particularly effective for businesses that:

• Have a large target audience: Traditional digital marketing can help you reach a wider audience and generate a large number of leads.
• Sell high-value products or services: ABM can be a more targeted and effective way to convert high-value leads into customers.
• Want to maximize their return on investment: By combining the strengths of both approaches, you can increase your chances of achieving your marketing objectives.

Here are some examples of how to combine traditional digital marketing and ABM:

• Use traditional digital marketing to generate leads and awareness. This can include tactics like SEO, PPC advertising, content marketing, and social media marketing.
• Use ABM to target and nurture high-value leads. Once you've generated a pool of potential customers, you can use account-based marketing to identify the most promising accounts and personalize your marketing efforts.
• Combine traditional and personalized content. You can create a mix of broad-based content (e.g., blog posts, webinars) and personalized content (e.g., account-specific case studies, tailored emails) to engage your target audience.
• Align sales and marketing teams. To ensure a smooth transition from traditional digital marketing to ABM, it's important to align your sales and marketing teams. This can involve sharing data, setting shared goals, and collaborating on account-based campaigns.

By combining traditional digital marketing and account based marketing, you can create a more effective and efficient marketing strategy. This approach can help you reach a wider audience, generate more leads, and increase your revenue.

What’s next

By choosing the right marketing approach or a combination of traditional digital marketing and ABM, you can significantly elevate your B2B revenue and customer experiences.

To take your marketing to the next level, consider partnering with a digital experience team like Altudo. Our experts can help you develop a customized marketing strategy analyzing your business goals, implement effective campaigns across various channels, measure and optimize your results by tracking performance and providing insights and keep you informed about the latest marketing trends and best practices.

Ready to elevate your B2B marketing? Contact us today to schedule a 1:1 consultation and learn more about how we can help you drive the utmost value from your marketing investments.

Interested in exploring how data-driven marketing can make a difference? Explore our case study featuring a global real estate giant.