6 Hard-hitting Lessons for ABM Strategy

Purva Mishra | September 30, 2021 | 467 views

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.

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Top 10 Rich Buyer Intent Data Software for More Sales in 2023

Article | July 1, 2022

Boost your sales in 2023 with these top 10 rich buyer intent data programs. Gain insights into customer behavior and purchasing patterns to drive conversions using the top buyer intent data platforms. Contents 1. Market Dynamics of B2B Buyer Intent Data Software 2. KPI for Good Purchase Intent Data and How Does a Buyer Intent Data Software Determine the Purchase Intent? 3. Optimizing Your B2B Buyer Intent Data Using Software to Drive Sales 4. Top 10 B2B Buyer Intent Data Tools to Accelerate Sales with B2B Account-based Marketing 5. Summing up Driving conversions has become more precise and predictable with the use of high-quality buyer intent data. As buyer intent marketing has emerged as one of the most promising tools to get the most out of your account based marketing campaigns, companies can quickly reach out to their highest potential prospects. 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Relevance: The data should be directly related to a buyer's intention to purchase a product or service. 2. Timeliness: The data should be collected and analyzed in real-time to accurately reflect a buyer's current purchasing intentions. 3. Accuracy: The data should be accurate and verified to ensure its reliability and usefulness. 4. Completeness: The data should include all relevant information about a buyer, such as demographics, previous purchases, and search history. 5. Consistency: The data should be collected and analyzed using consistent methodologies to ensure comparability over time. 6. Privacy: The data should be collected and stored in a way that protects the privacy and confidentiality of the buyer. How Does Buyer Intent Data Software Determine the True Intent of a Customer Behavior? Buyer intent data software determines the true intent of a customer behavior through various methods such as: Natural language processing (NLP) Machine learning algorithms Data analysis of customer interactions and behaviors Integration with other data sources (e.g. search history, demographics, etc.) Predictive analytics The software analyzes a wide range of data points to understand the motivations behind a customer's behavior, such as their search queries, content they engage with, and the actions they take on a website. It refers to information about a potential customer's interest or intention to purchase a product or service, usually gathered through online behavior such as web searches, social media activity, email interactions, and previous purchase history. This data can provide insights into what a customer is looking for, their buying journey, and the likelihood of them making a purchase. 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Additionally, 6Sense offers a range of ABM solutions, including account identification, account engagement, and account orchestration, to help B2B marketers effectively plan, execute, and measure the impact of their ABM programs. Albacross: Albacross is an ABM software that provides buyer intent data to help B2B marketers personalize their outreach and improve their pipeline. The platform uses lead generation and account-based marketing technology to gather insights on your target accounts' digital behavior, enabling you to prioritize your outreach and tailor your messaging to their specific needs and interests. Albacross helps B2B marketers identify their ideal customer profile and generate high-quality leads by tracking website visits and providing information about the companies visiting your website. The platform also offers a range of features, such as lead scoring, account-based retargeting, and email tracking, to help you optimize your ABM strategy and improve the impact of your campaigns. Bombora: Bombora is a B2B data solutions company that provides account-based marketing (ABM) software for buyer intent data. The platform aggregates business intent data from various sources, including content consumption, social media activity, and job postings, to help B2B marketers gain insights into the buying signals of their target accounts. Bombora's technology provides actionable data on the topics that your target accounts are researching, enabling you to personalize your outreach and tailor your messaging to their specific needs and interests. The platform works with ABM and marketing automation tools like Marketo, Pardot, and Eloqua to help you streamline your ABM processes and make your campaigns more effective. MadisonLogic: Madison Logic is a B2B marketing technology company that provides account-based marketing (ABM) software for buyer intent data. The platform offers a range of solutions for B2B marketers, including lead generation, content syndication, and programmatic advertising. Madison Logic's technology helps B2B marketers personalize their outreach by providing insights into the buying signals of their target accounts. The platform tracks the online behavior of your target accounts, such as website visits, content downloads, and email opens, to help you identify opportunities to engage with your prospects and improve the impact of your campaigns. Also, Madison Logic's ABM platform works with marketing automation tools like Marketo, Eloqua, and Pardot to help you streamline your ABM processes and improve your campaigns. Qualified.com: Qualified.com is an ABM software that provides buyer intent data to help B2B marketers personalize their outreach and improve their pipeline. 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Article | August 5, 2022

If you’ve been keeping up with new terms in B2B marketing, by now you’ve likely heard of account-based marketing (ABM). The term itself has been around for years, but with recent advances in technology, this tactic is now being adopted at a much larger scale than ever before. Still, surprisingly, I find that many B2B marketers are in the dark when it comes to ABM. So here’s a quick look into the future of B2B enterprise marketing, and why I think account-based marketing will be one of the biggest revenue drivers for B2B businesses in the very near future.

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MRP Announces the Appointment of Christopher Rack As CEO

PR Newswire | May 12, 2023

MRP, a leading provider of account-based technology and solutions, today announced Christopher Rack's appointment as its Chief Executive Officer (CEO). Chris will report directly to Seamus Keating, CEO of publicly-listed parent company FD Technologies. Chris joins MRP with 16 years of B2B sales and marketing technology experience, leading teams in high-growth organizations and helping clients successfully navigate complex and constantly changing business environments. Chris joins MRP from DemandScience, where he served as Chief Revenue Officer, and brings a wealth of experience in growing businesses and leading teams in demand and lead generation. Chris worked previously for other early-stage, rapid-growth companies in this space, including eMedia and Spiceworks. Chris expressed excitement about joining the company and contributing to developing fresh growth opportunities for MRP clients, stating: "This is an exciting phase in MRP's journey. Already established as an industry-leading provider of account-based technology and tech-enabled services, demand for MRP's solutions is high and we are well positioned to scale. I look forward to bringing my expertise and experience to the role, working closely with the senior management, board members, and the entire MRP team to take the company to the next level of growth." Seamus Keating, CEO, FD Technologies: "Our strategy as a Group is to support each business unit's distinct value proposition and maximize its growth opportunity. We are delighted to welcome Chris to lead the MRP business and I look forward to working with him and the team to deliver enhanced customer satisfaction and revenue growth." About MRP MRP revolutionizes how sales and marketing organizations reach and connect to the right buying groups and decision-makers, cost-effectively driving engagement and revenue, globally and at scale. Applying the industry's leading account intelligence and the broadest selection of orchestration channels in the market today, MRP Prelytix® powers over 1,000 programs across six continents to coordinate, execute, and optimize them in up to 20+ languages.

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2023 State of B2B Marketing Budgets Survey Finds Increasing Need to “Defend the Spend”

PRWeb | April 26, 2023

Integrate, the leader in B2B Precision Demand Marketing (PDM), today announced new research on “The State of B2B Marketing Budgets 2023” that reveals how marketing budgets, priorities, and sentiments have changed in the past six months. The report found that nearly 50% of B2B marketers cite the difficulty of using data to inform decisions and measure performance as the biggest challenge, suggesting an increasing need for marketers to “defend the spend” to finance departments and C-level executives. As a result, nearly 90% of marketers surveyed report that data compliance and accuracy is a priority at their company. This study is follow-on research from “The State of B2B Marketing Budgets 2022” and was conducted with global research and advisory firm, Demand Metric. “Today’s B2B marketers are in the unenviable position of making the unpredictable predictable in an uncertain market, and that means recalibrating everything from their goals to their focus,” said Colby Cavanaugh, SVP, Marketing at Integrate. “This research suggests that today’s marketers are incredibly resilient, and they’re adapting by being flexible and leveraging both what they know works and investing in creative new solutions to drive pipeline.” With rising interest rates, bank failures, and other economic headwinds looming, many B2B companies are hedging their bets and tightening budgets, forcing marketers to do more with less. In fact, the next biggest challenges the survey found include headcount cuts (40%), increasing growth targets (39%), and budget cuts (38%). What’s more, 66% of respondents report that they are experiencing burnout as a result of additional economic stressors. Interestingly, despite these challenges, 72% say their marketing team will meet or exceed goals in 2023. Meanwhile, 84% of marketers surveyed report having a neutral to optimistic outlook for the remainder of 2023, up slightly as compared to 80% six months ago. To adapt to these shifting tides, “The State of B2B Marketing Budgets 2023” survey found that 57% of B2B marketers are optimizing for growth in 2023 by leveraging customer marketing (upsell/cross-sell); 42% are building team skills and adding new competencies; and 36% are investing in existing verticals or markets. They are also cutting travel budgets (46%), consolidating teams/job responsibilities (41%), and relying more on contractors (36%) and agencies (34%). The top three areas marketers plan to invest more in include customer marketing, content creation/strategy, and sales enablement. As for budget spend for specific marketing disciplines, the survey found that about 40% of marketers are spending about the same on ABM, communications, content, demand generation, field/event marketing, marketing operations, product marketing, and sales enablement. This is in contrast to the 2022 results, which reported starker changes to planned budget investments with nearly 50% planning to invest more in digital marketing, content creation, and customer marketing, while 53% planned to spend less on ABM. Today, the areas marketers are investing more in include customer marketing (38%), marketing operations/technology (37%), and product marketing/strategy (36%). Conversely, marketers are investing less in ABM (25%), communications (24%), and demand generation (22%). The survey results find that two-thirds of marketers (67%) are satisfied with their current marketing approach and 64% are satisfied with their martech stack. However, there is always room for improvement as 80% report evaluating their martech stack on a continual basis and 77% report redundancies in their martech stack. “These survey results indicate that despite economic challenges, B2B marketers are forging ahead and making do with the resources they have with a focus on their customer,” said John Follett, Co-Founder, CXO & Head of Research at Demand Metric. “They’re overworked but optimistic and are in the greatest need of accurate and connected data to better understand their buyer, guide their decisions, and defend their spend in difficult times.” "The State of B2B Marketing Budgets 2023" report was fielded in March 2023 to 524 respondents across the U.S. and UK. Download the full report here or read a recap of the results in our blog, "Marketing Spend Infographic: 2023 State of B2B Marketing Budget Survey. About Integrate Integrate connects, governs, and measures marketing campaigns across demand channels. This enables marketers to launch cross-channel buyer experiences, ensure data integrity, measure the impact of their programs, and inform the next best investments. Integrate works with high-growth and enterprise organizations like Salesforce, Microsoft, Akamai, and Pluralsight to power their Precision Demand Marketing strategies. Today, Integrate’s Demand Acceleration Platform helps create more precise and personalized buying experiences that reach the right buyer with the right message at the right point in their buying journey, and ultimately convert more leads to revenue. For more information, please visit http://www.integrate.com or follow us on LinkedIn, Facebook,Twitter and Instagram.

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