Account-based marketing (ABM), also known as key account marketing, is a strategic approach to business marketing in which an organization considers and communicates with individual prospect or customer accounts as markets of one. The popularity of this approach is growing, with companies such as BearingPoint, HP, Kilroy Travels, Progress Software and Xerox reported to be leading the way.
Account-based marketing has grown since the mid-1990s as a demonstration of the trend away from mass marketing towards more targeted approaches. It parallels the movement in business-to-consumer marketing away from mass marketing where organizations try to sell individual products to as many new prospects as possible to 1:1 marketing where they concentrate on selling as many products as possible to one customer at a time.
While business marketing is typically organised by industry, product/solution or channel (direct/social/PR), account-based marketing brings all of these together to focus on individual accounts. [source: Wikipedia]
Sayed Farrukh Ahmed
Assistant Professor
Faculty of Business & Economics
Daffodil International University
