I’ve had this question numerous times while speaking on account-based marketing (ABM) the past few weeks. Many assume that ABM only applies to enterprise sales targets. And while I could argue a fully-implemented account-based strategy grows in importance with the size and complexity of the buyer, several account-based strategies and tactics work equally well for small companies.
So yes, ABM works for SMB. Just ask yourself these questions:
How many stakeholders are involved, internally, in the buying decision?
If the answer is more than one, ABM can help you. Creating a matrix of messaging for each stage of the buying journey by decision-maker, stakeholder or influencer can help you customize the approach and increase your likelihood of success. Even just using these different messages on the phone with your sales team can make a difference.
How much are you willing to spend to acquire a new customer?
ABM doesn’t mean direct mail or high-cost dinners. ABM doesn’t require any particular minimum spend. Someone asked me last week what the minimum technology stack was to implement ABM. My answer was the telephone.
Of course, engaging an enterprise target might be worth more to you than engaging an SMB target. So, accordingly, the channels and spend you’re willing to employ may differ. But the fundamentals – an account-oriented, integrated approach to the internal buying committee – can be executed in a number of ways, with a wide variance of budgets, depending on your price point and margin threshold.