Literature Review on How Can a B2B Company Enhance Its Customer Engagement and Account Based Marketing report

Abstract

Account-based Marketing has been well received in the B2B market. The need for companies to target high value accounts has become paramount in building account relationship and retaining long-term revenues. However, a well-design ABM plan to a specific account requires close monitoring and analysis of not only the macro environment of the account but also the internal stakeholders with regard to individual buying preferences. Besides the technicality by offering matching products, how to effectively create and deliver perceived value beyond monetary value becomes a challenge. Therefore, this paper draws from the available literature and with semi- structured expert interviews to address the question of “What are the best practices in 1-1 ABM that could help shift perception through relationship management and thus increase share of wallet and ensure long-term profitability?” From our findings, it is imperative for AMBers to not only utilise relevant marketing channels in delivering the functional value, but also the message that builds a unique story which goes beyond the perceived-value of product; that is, in line with account’s strategy and co-create with them to nurture a long-term partnership.