ABM and The 22 Immutable Laws of Marketing

The 22 Immutable Laws of Marketing by Al Ries and Jack Troupt is recognised as a marketing classic, a timeless guide to a successful strategy. So how do the Laws apply to Account-Based Marketing (ABM) today??

?? Starting with the Law of Leadership, which says that it's better to be first in the mind than to be first in the marketplace. In the context of ABM, consider HubSpot , a brand that has positioned itself as the first solution that comes to mind when many businesses think about CRM systems. This principle can be applied by finding ways to establish your brand as the go-to solution for a specific industry or business size.

?? The Law of Category suggests that if you can't be first in a category, set up a new category you can be first in. For instance, Drift, a Salesloft company , a conversational marketing platform, didn't try to compete with traditional marketing automation platforms. Instead, they created a new category, to position themselves as the leader in it. In ABM, this could mean identifying a niche within the market that is currently underserved and positioning your solution as the first and best choice for that niche.

??? The Law of Perception underscores that marketing is not a battle of products, but a battle of perception. In ABM, this is particularly relevant. For instance, Terminus (by DemandScience) , an ABM platform, doesn't just sell a product; they sell the perception of improved targeting, personalisation, and return on investment.

?? The Law of Focus emphasises the power of owning a word in the prospect's mind. In ABM, this could mean focusing on a particular feature or benefit that sets your solution apart and making that the central theme of your marketing efforts. For example, Demandbase has focused on the term "account-based,"to make it synonymous with their brand.

?? The Law of Sacrifice suggests that you have to give up something to get something. In the context of ABM, this usually means sacrificing a broader market appeal to focus on a specific niche where your solution can truly excel. However, this comes with its own set of challenges, such as a smaller target market and increased competition within that niche.

?? The Law of Candour encourages admitting a negative to gain a positive. For ABM, this could mean acknowledging that your solution may not be the cheapest or the most feature-rich, but it excels in delivering results for a specific use case or industry. This approach can build trust and authenticity, which are key to long-term customer relationships.

?? The Law of Resources reminds us that without adequate funding, an idea won't get off the ground. This is a crucial consideration for ABM applications, where developing and maintaining a sophisticated solution requires appropriate resources. It also highlights the importance of efficient resource allocation, such as through MyGTMplan, the ABM Go To Marketing planning system.

?? In conclusion, the Immutable Laws of Marketing provide valuable insights that can guide the development and marketing of ABM applications.

?? CIM | The Chartered Institute of Marketing ABM one-day training workshops offer a flexible and affordable route to ABM, backed by the Chartered Institute of Marketing.?

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