Programmatic ABM
Article | June 9, 2022
Understanding how a B2B buyer’s journey naturally progresses is key to designing a digital marketing program that works in any economic climate. When we do this with our clients, it allows us to see their marketing as a whole, rather than looking at isolated marketing tactics and getting overly focused on minor issues. Once we understand what’s already working for a client, we can then apply an informed strategy to amplify their successes. Occasionally, we may also recommend that a client step back from a few marketing tactics that might not be working well enough.
Read More
Account Based Data
Article | August 19, 2022
In Part I of this article, we discussed the importance of the ABM foundation, ideal momentum of change, team training, and analyzing data to understand the performance of your ABM strategy.
In this part, we will look at how CX, sales enablement, a strong team and consistency matter in successfully transforming your organization into an account-centric one.
ABX: Endorse Experience
Focus on the kind of experience you want to offer your target account. Offer them a customized and account-centric experience. Involve every department at a granular level to achieve an excellent customer experience.
Enablement: Sales Resources Are Vital
Support your sales teams through communication that works for them. Provide them with the right tools, content, insights, and data, even if they know how to do their job. Support and motivate them to close more deals.
Consistency: Checking What’s Working
Review your performance weekly and discuss outcomes with your teams—improvements, hurdles, and failures included. A full view of your strategy will show you where you need to make changes so you can fix them and make your ABM efforts work.
Experience: Hire ABM Experts
Executing ABM can be an overwhelming experience if you are new to it. Consider bringing in someone who has already run some successful ABM campaigns to make the process smoother. Doing this will guide and support your long-term efforts.
Businesses and Customers Reap Rewards
When an organization focuses solely on its target accounts, it achieves:
Higher conversions and ROI
Effective target audience reach
Reduced customer attrition
Business growth
Synchronization in cross-functional teams
Competitive edge in the market
When target accounts choose an account-centric company, they get:
Customized solutions to their pain points
Support throughout the buying journey
Excellent customer experience
Long-term business association
An ITSM Firm Addressed Revenue Concerns with an Account-Centric Approach
A British IT service management (ITSM) analytics SaaS firm re-evaluated its ABM efforts to address revenue concerns. It increased relevance across all channels — LinkedIn profiles, content, and messaging to directly address decision-makers.
It aligned its sales and marketing teams. Furthermore, it changed its focus to improving customer interactions along the buying journey. As a result, it gained customers like GoDaddy, British Airways, and JCPenney. A larger firm with a presence in North America, the UK, Europe and APAC acquired it as a part of a business expansion strategy.
Wrapping It Up
Amber Bogie, ABM Strategy Lead at Degreed, says, “In terms of attribution, if it's an ABM account, and it's seeing success, I'm attributing that to a company-wide effort of focusing on the right accounts using an ABM strategy.”
Amber Bogie, ABM Strategy Lead at Degreed, says, “In terms of attribution, if it's an ABM account, and it's seeing success, I'm attributing that to a company-wide effort of focusing on the right accounts using an ABM strategy.”
Remember, ABM works differently for different organizations. Therefore, there is not a one-size-fits-all approach, so you need to zero in on what works best for your organization to get everyone on board to achieve ABM success.
Read More
Buyer Intent Data
Article | March 6, 2023
Over the last couple years, there has been a paradigm shift in the way customers engage with brands. The effect of this shift has also trickled down to the B2B domain. The marketing strategies that drove sales and revenue pre-COVID no longer work. In response, brands are focusing on revolutionizing their marketing strategies by implementing ABM to optimize their processes and drive a higher ROI. Today, 67% of brands leverage account-based marketing.
Account-based marketing (ABM) is the answer to B2B marketers’ struggles as they navigate through the volatile business situation that the pandemic has created. It uses content personalization, focused targeting of high-value accounts, and aligns the marketing strategy with business goals. Through multiple platforms, brand awareness, and optimized processes, ABM gives a higher ROI than any other marketing strategy.
In an interview with Media 7, Mark Emond, Founder and President of Demand Spring, talked about B2B marketing strategies, content, and technology stacks.
“In today’s long B2B buying journey, buyers are in control and they are interacting across multiple channels. The key is to use data and technology to serve up highly targeted content across channels, tuned to the stage of the buyer’s journey a prospect is in, and what their behavior shows they are most apt to engage in.”
The following five emerging trends in account-based marketing have defined ABM in 2021 and may influence the way it evolves in 2022:
Data Integration
Manually researching target account data requires resources and time. To overcome this challenge, businesses use integrated marketing automation and CRM to collect firmographic data (company size and location), technographic data (target company’s technological choices), behavioral and intent data, predictive analytics, and more to optimize their ABM campaigns.
Marketing automation and CRM keep track of this integration so that brands can segment their prospects effectively. With the help of this integration, they can also find accounts similar to their target accounts. Breaking down internal info silos for cross-departmental collaboration promotes using the valuable customer intelligence that departments have. For example, the product management department can share the customization preferences of the clients they work with. This information can help marketers offer clients just what they want. Data integration helps steer ABM campaigns in the right direction.
New Tools
A wide array of tools to simplify and optimize account-based marketing are available on the market. These tools are used for CRM and marketing automation, intent monitoring, campaign execution, orchestration, measuring and reporting the performance of the ABM campaign, and content syndication. These tools are a part of the martech stack that brands use to find key accounts closest to their ideal customer profile (ICP). They facilitate better resource allocation so that personnel can spend more time on personalized interactions with the target accounts.
B2B businesses prefer using marketing automation platforms that they can customize to fit their needs, like sending email marketing (behavior based email), CRM and sales automation, campaign tracking, account-based digital marketing, and analyzing the performance of their ABM campaign, instead of creating a martech stack from scratch. They choose software that can have numerous integrations, products, and services to better adapt to changing circumstances.
Omnichannel Presence
Omnichannel presence is one of the most influential emerging trends in account-based marketing. Brands need to be present and relevant in the lives of their customers. They do this by using different channels for communication and engagement so that their relationship is deep and meaningful, focusing on understanding their problems and offering effective solutions.
A 2019 study by Gartner found that B2B buyers only spent 17% of their time meeting with potential suppliers. In the current pandemic situation, in-person events and meetings are replaced by AI-powered chat bots, behavior-based emails, personalized website content, and account-based digital advertising so that customers receive a steady flow of information from businesses across different channels. Marketing automation streamlines this omnichannel communication in ABM. However, it can also complicate things for buyers because of the barrage of information they receive. The Gartner study found that 77% of B2B customers found their purchase journey difficult. Striking a careful balance is necessary while integrating new channels into your strategy.
Customized Content
According to a 2020 ABM Benchmark Survey Report, 42% of respondents are personalising their content to increase account engagement and build long-term relationships. Businesses are creating tailored content for specific industries, roles, titles, challenges, and needs. Their content strategy is based on mapping content to suit a specific buyer persona. They engage the buyer at every stage. As one of the most important emerging trends in account-based marketing, customized content is making a huge difference in lead generation, conversion, and retargeting accounts.
The latest tools allow B2B marketers to personalize content based on target accounts’ interests and preferences. Selecting an appropriate content format, topics of interest, and the response to the use of respected industry influencers are mapped to create hyper-personalized content to better connect with prospects, especially decision-makers. Using marketing automation can modernize this process and deliver extraordinary results in terms of conversions and lead nurturing.
Account Metrics
Assessing the performance of an ABM campaign is of paramount importance if marketers want to meet their ROI expectations. To keep up with the emerging trends in marketing and analyze campaign performance, B2B marketers are focusing on account-centric metrics. Generated revenue and the number of accounts gained and retained are mapped using metric tools. Marketers also focus on KPIs like win rate, pipeline velocity, pipeline contribution, and account engagement score to measure the success of their ABM campaigns. As account-based marketing is evolving, it is crucial to map campaign performance so any weaknesses can be taken care of and the campaign can be optimized for better results.
Connecting siloed data sets across the entire content strategy becomes easy because of these ABM-specific metrics. These metrics gather valuable information that impacts purchase decisions as prospects move through the sales and marketing cycle.
How Snapchat’s Bitmoji Brings Traffic to Its Discover Page
Snapchat’s Bitmoji app was launched in 2016 so that users could create their own personalized cartoon avatars. Every user’s Bitmoji appears on the Discover page, where advertisements and brand content are also displayed. This way, traffic comes to the Discover page for Bitmoji but ends up being exposed to brand content and advertisements. This is a great illustration of how personalized content can drive traffic.
Conclusion
B2B marketers are keeping up with the changing and emerging trends in account-based marketing to get the most out of their campaigns. In 2022, ABM is expected to flourish and optimize the demand generation and conversion process.
FAQ
What is the future of ABM?
ABM is expected to become robust with the use of technology like marketing automation to enhance the customer experience.
Why should businesses use account-based marketing?
Account-based marketing motivates marketing and sales teams to work together, identify target accounts, craft campaigns, and align individual accounts through the pipeline.
Read More
Core ABM
Article | September 30, 2021
Account-based marketing has gained momentum incredibly in the B2B industry. ABM promises a higher conversion rate than any other marketing strategy. It is the best personal approach to B2B marketing.
If you are new to ABM, here is a little introduction to the strategy. ABM is creating a funnel of your clients and filtering the ones who have higher chances of conversion. Once you have the required data, your sales and marketing team can collaborate to create marketing campaigns for these exclusive clients. This strategy can overcome many challenges faced by the marketing and sales team.
Generally, the challenges faced by your businesses can be to
Drive retention with the key accounts
Deliver relevant content to exclusive customers
Boost conversion percentage with the clients most likely to convert
Build a strategy for a personalized marketing approach
Once you know what ABM is and implement it correctly, your business can easily overcome these challenges. Thus, we have provided some insights on how to overcome hurdles and excel in your ABM campaign.
How to Excel in Your ABM Campaign
According to B2B data-driven companies, personalization is the biggest challenge to succeed in ABM. Nowadays, B2B clients demand personalization like B2C clients. Now, this is a difficult task as business clients have access to business profiles. Thus, the sales and marketing teams have to develop unique ideas and make extra efforts to personalize campaigns.
So basically, this means utilizing the available data in the best way possible. But sometimes, that takes up a massive investment in terms of time and resources.
Abhi Yadav, Founder & CTO of Zylotech, says,
“Drawing intelligence from data is like pushing a boulder uphill. In most cases, it takes a team of data engineers & scientists an enormous amount of time that comes with a hefty price tag.”
So how do you minimize efforts and still excel in your ABM campaign strategy?
Well, we have six lessons that organizations have learned while implementing ABM in their marketing strategy. Some of these lessons are answers to why a particular strategy failed.
Put Yourself in Your Customer’s Shoes
If you have limited access to personal data but have plenty of professional data, put it to the correct use. Put yourself in your customer’s shoes and look at the challenges they are facing at present. You can also think about their future problems and provide solutions to avoid them. Once you think like your customers, strategies and solutions become a simple task.
For example, if your targeted client is the MD or CFO of a healthcare sector. Determine how the pandemic has impacted their revenues or how they need to manage personal and government financing in these challenging times. Also, you can provide visionary solutions about future implementations for the healthcare sector.
Flip the Funnel
The traditional funnel of awareness, interest, consideration, and purchase needs to change. The implementation may work even today, but the conversion process takes time. Thus, it’s time to flip the funnel.
Flipping the funnel is the new strategy that is uprooting the traditional funnel. This method implies putting targeted organizations on the top of the funnel and then broadening it. First, it means to target the people of the organizations, then ways to connect them, and then the broadest part is to provide them with appropriate solutions.
This funnel strategy has proved to work wonders in the ABM strategy.
Personify is the leading constituent management and engagement (CME) platform. Their challenge was to create a funnel for better insights into their target market.
Their solution was to partner with product marketing and sales for an ideal customer profile (ICP). Thus the top of the funnel was sorted. Then they researched and set up personalized digital ad campaigns and sales strategies. Thus, these creative campaigns increased their brand awareness, engagement, and conversions.
They increased their on-site visitors by 39 times by implementing this strategy.
Make the Best Use of Technology
There are a plethora of tools available to strategize and implement ABM. But organizations do not make full use of these tools, leading to wastage of time, resources, and resources.
Survey the market and know there are tools developed to optimize ABM strategy and keep track of account-based metrics. Implement these tools, and you will notice that your work gets executed faster and in an intelligent way.
P.S. Human-assisted AI technologies help organizations to build compelling campaigns and optimize revenue operations.
Streamline Your Processes
Sometimes organizations do not realize that ABM requires streamlining processes with the regular ones. ABM strategies require experimentation. You have to select the strategy that suits you and your organization in the best way. Thus, ensure that your teams do not get overwhelmed by the process.
Thus, define roles, responsibilities, and the entire execution plan when the target accounts are shortlisted.
VersionOne, a cloud-based agile application life-cycle management (ALM) software provider, simplified the process by implementing data-driven approaches. Thus, VersionOne gave both teams access to monitor the ABM strategy and the success of the targeted accounts. Thus both the teams worked in collaboration and focused on segmentation. This helped in building a proper pipeline between the sales and marketing teams.
This doubled VersionOne’s sales by streamlining the processes between the sales and marketing teams.
Focus On Retention
ABM is not only targeting exclusive clients and converting them. But you have to track and retain them. Many a time clients convert and the organization forgets to follow up. Thus, it creates a void for current and future clients, as the success rate is incredibly defined by retention.
For example, small gestures like regular surveys, emails regarding workflow, and more can play an essential role for the clients to know that you care.
Do Not Refrain from Outsourcing
Outsourcing is a great way to ease out tasks and get a filtered list of high-value clients. Also, companies that specialize in data-driven technologies can provide you with more relevant information about the clients than your in-house team.
So, avail services from experienced companies and industry leaders in providing you with the best list of relevant clients. These professional organizations know the pain-point of the clients, which helps you in planning your ABM strategy.
That’s All Folks
We hope we have provided you with solutions to the hurdles that you face while strategizing ABM. Remember, ABM strategy cannot be mastered overnight. So set goals, implement ABM, learn from the results and repeat- it is that simple!
Frequently Asked Questions
Which is the best way to succeed in ABM?
The key idea is to focus on the personalization and retention of the clients. Your ABM strategy is likely to succeed if you provide personalized solutions to your exclusive clients. Success in your ABM strategy depends on your team, your account-based marketing campaigns, and the level of experimentation you do.
Is it okay to outsource for account-based marketing?
If your organization does not want to invest the time, resources, and technology required for ABM, it is good to outsource it. These third-party organizations can help you provide you with a list of the best clients and their information.
How important is ABM strategy?
ABM is an essential strategy as it helps to shorten the sales process and increases the conversion rate. In addition, it helps an organization concentrate on the most exclusive clients and retain them, thus generating better revenue and ROI.
{
"@context": "https://schema.org",
"@type": "FAQPage",
"mainEntity": [{
"@type": "Question",
"name": "Which is the best way to succeed in ABM?",
"acceptedAnswer": {
"@type": "Answer",
"text": "The key idea is to focus on the personalization and retention of the clients. Your ABM strategy is likely to succeed if you provide personalized solutions to your exclusive clients. Success in your ABM strategy depends on your team, your account-based marketing campaigns, and the level of experimentation you do."
}
},{
"@type": "Question",
"name": "Is it okay to outsource for account-based marketing?",
"acceptedAnswer": {
"@type": "Answer",
"text": "If your organization does not want to invest the time, resources, and technology required for ABM, it is good to outsource it. These third-party organizations can help you provide you with a list of the best clients and their information."
}
},{
"@type": "Question",
"name": "How important is ABM strategy?",
"acceptedAnswer": {
"@type": "Answer",
"text": "ABM is an essential strategy as it helps to shorten the sales process and increases the conversion rate. In addition, it helps an organization concentrate on the most exclusive clients and retain them, thus generating better revenue and ROI."
}
}]
}
Read More