Top 12 Account-Based Marketing Terms You Should Know
Digital Marketing Specialist at SalesboxAI
The ABM world is full of new terms and acronyms like ABE (Account-Based Engagement), MQA (Marketing Qualified Account), ICP(Ideal customer profile), and countless others.
If you’re relatively new, It becomes a little overwhelming. You may start to feel like you’re reading a different language. We’re here to decode the new terms and put them into your glossary. Let’s get started.
1. Account-Based Marketing
ABM is a strategy that directs marketing resources to engage a clearly defined set of target accounts. The marketing team will be focused on creating content, organizing events, and arranging entire campaigns dedicated to the people associated with target accounts. Unlike other strategies that focus on industry and/or titles as a whole, ABM provides tactical marketing approach based on the specific attributes and needs of the account you’re targeting
2. Demand Unit Based Marketing
Demand Unit Based Marketing is a more evolved version of ABM in which conversations are orchestrated between Buying Group members and selling group members using the demand unit driven methodology. This approach is also known as ABM 3.0, which provides a much improvised and cleaner tactic to your ABM efforts.
3. Account-Based Advertising
Account-based advertising or ABA is a method of advertising that uses digital ad campaigns to target highly-specific accounts with the most potential for revenue.
4. Account-Based Engagement
ABE focuses on the set of targets with account-specific programs to deepen relationships and increase wallet share with existing customers before diving into acquisition.
5. Account Lifecycle
The account lifecycle is the ABM version of the buyer’s journey. And while the buyer’s journey (Awareness, Consideration, Decision) is very lead-focused (with a focus on the individual), account lifecycles take into consideration the entire buying committee. It includes three overarching phases: Acquisition, Acceleration, and Expansion.
6. Marketing Qualified Account
MQA (marketing-qualified account) is an Account-Based Marketing equivalent of a marketing-qualified lead (MQL). An MQA is a target account that has reached a significant level of engagement to signal possible sales-readiness.
7. Account Intelligence
Account intelligence is the overall knowledge you have of a target account, meaning you understand who they are and what they really want and need. It goes deeper than top-level insights and often requires the assistance of third-party data providers.
8. Ideal customer profile (ICP):
A list of key characteristics—including environmental, firmographic, and behavioral data—that make up a company’s ideal accounts. An ICP is created by studying data from existing customers and can be used to identify future target accounts.
9. Intent Data
Intent data shows you what companies are researching on third-party sites, not your sites. Intent signals help your sales team determine what an account is interested in before they come to your website, giving them the visibility they need to tailor their strategies and further personalize their outreach.
10. Pipeline Acceleration
Pipeline acceleration (as a goal) is the act of increasing the speed at which an account moves through the account lifecycle. This typically involves an acceleration campaign, where marketing and sales work together to move accounts through the sales process.
11. Total Addressable Market (TAM)
All of a company’s possible customers in the world. From the TAM, a company narrows down a target account list.
12. Target Account List (TAL)
Whereas your Total Addressable Market (TAM) is all the accounts you could sell to, your Target Account List (TAL) is a list of all accounts you want to sell to right now. You can build out a list of your target accounts using the FIRE (Fit, Intent, Relationship, Engagement) data we’ve defined above.
Now that you’ve got a solid grasp on some of the most common Account-Based Marketing terms. Here is the link to our library where you can access more ABM related resources that help you dive deep into modern marketing.