ABM has been around for 20+ years, so why are there still so many misconceptions?

I view ABM/ABX (Account Based Marketing) as the engine driving high-value account growth.

The discipline has been around for 20+ years, so why do so many misconceptions still prevail? My top 3:

1️⃣ Misconception 1: ABM is something “marketing does to sales”.

💥 In reality, success only happens if both sides, Sales and Marketing, can align around mutually agreed KPIs and successfully COLLABORATE.

2️⃣ Misconception 2: ABM is a “campaign” or a “tactic”.

💥 It is neither. ABM is a LONG-TERM, coordinated account-centric approach to marketing and sales:

1. Focusing on a small number of high-value accounts that best resemble our “Ideal Customer Profile”.

2. Enabling Sales to engage, develop relationships and influence the entire decision-making committee.

3. Tailoring marketing initiatives around client insights and their strategic objectives.

4. Marketing & Sales collaborate throughout the sales cycle to increase deal velocity and size and the lifetime value of the account.

3️⃣ Misconception 3: You need technology that will run ABM for you.

💥 The statement above is often made by people who have something to gain by selling you a “solution” (surprise, surprise! : ) As an ABM practitioner of 9+ years (6 of those as an ABM consultant), I can confirm that absolutely no tech is required to start with ABM, above the basics that most B2B companies selling complex solutions to Enterprise already have in place.

There are many more misconceptions, I am sure!
Image courtesy of @kaytemccormack