It’s terrific to see that some of the major players in the account based marketing (ABM) technology space such as Demandbase and Marketo are starting to use the term “ABX”. I coined the term back in 2017-18 and have been using it since. I recognized then that “ABM” can be limiting even though the concept is terrific. The name ABM, as I had found in client discussions, often narrowed rather than expanded the perception of value of this account based discipline, in the minds of many who first heard it.
ABX has no such baggage; it presents the promise of effectively delivering customer value, without tying itself (in name) to one part of an organization. The planning and implementation of ABX adds value when it’s coordinated across entire organizations.
I coined the term ABX after multiple discussions about ABM with CEO, CSO, COO, and CRO friends. They heard “Marketing” in Account Based Marketing and immediately put it in a box, as if ABM was a marketing campaign only — versus the strategic, cross-company, revenue-driving, planning and execution practice I know it to be. “Account based” was well understood and appreciated, so that was not the issue.
ABX and Value
I believe in the power of account based sales, marketing, go-to-market, and value. When you start with understanding how your customers define value themselves, in their industry, in their company, in their role – ABX becomes a hugely powerful asset.
What’s great about ABX, too, is that it works equally well whether you’re seeking to
- add value and grow within other parts of an existing account, or
- help new clients make the right decision to solve a business issue, enabling them with precisely the most important information they need to select the right solution.
ABX: Where X Equals…
This is why I came up with the name ABX. At different times, X can equal excellence, acceleration, engagement, experience — but it must always be anchored in value, and delivering that value in a way that helps your customers decide on the solution that is going to advance their own projects, company, business, and personal performance (yes, this too!).
As I mentioned in last week’s article, “Let’s Call it Relationship Generation Instead of Demand Generation”, this is all about making it easier for your customers to do business (and to buy your solution)!
ABX as the Future of Account Based
I’ve given ABX a lot of thought and focus over the past several years. With a sense of pride and some ownership, I urge everyone to consider this carefully:
ABX is not simply a different letter attached to the same practice. ABX is the next step in the evolution of the account based approach.
Through my years of customer-facing experience, within sales, marketing, with customer success, with sales and marketing ops, I’ve learned this: take specific steps to take to make ABX real. And making ABX real means more revenue, better relationships, and long-term success for all parties involved.
It’s great that ABX is becoming an industry-wide term! I look forward to seeing ABX, in its proper implementation, serving as the multiplier for adding real value and results, now and long into the future.