ABM Implementation in Different Target Segments

ABM Implementation
Have you browsed about account-based marketing and how successful it has proved for businesses? Do you wonder whether your business fits in the ABM strategy? And even if you practice ABM, what is to be done differently for your business?

Well, we have answers to all your questions.

As Clive Armitage, CEO at Agent3, said, “We have to act as the eyes and ears of marketing innovation for our clients; they trust us to help them navigate the pace of change in the way that the process of marketing is evolving.”

Thus, your marketing and sales team should be on the same page to deliver an excellent and personalized customer experience.

The implementation of ABM in different industries may be different but the challenges faced are somewhat the same.

The baisc challenge for ABM are personalization and quality content.

So, let us dig deeper into how ABM works for different industry segments. And also focus on how each industry should strategize for successful account-based marketing.

How Is ABM Different for Different Industries?


Every company has different products to sell to various companies. Also, if you sell the same product to distinct companies, you need a unique tactic for every organization.

Account-based marketing is crafting such individual approaches for every client that matters.

For example, if you are an advertising company and you need a luxury car brand account, your ABM strategy will be different for different car brands. It can also be designed differently for every decision-maker.

Thus, you have to be very focused and delicately plan strategies for the target account.

Apart from the people you target, also keep in mind the industry segment that you target. It will help to align strategies with both brands.

Now let us discuss some different types of ABM strategies that work for distinct industry segments.

Types of ABM Strategies (with Real-time Examples)


ABM is a beneficial strategy for all types of companies. But it works wonders for organizations that target large companies who have relatively long sales cycles.

According to the State of Account-Based Revenue Engine 2019 report, organizations saw a whooping 91% improved ROI post-ABM implementation.

Hence, let us see how different ABM strategies have their way of working.

Events


Events have proved to be the most successful of all the ABM strategies.

Once target clients accept the personalized invites to the events, the sales team can easily have in-person meetings. Also, a souvenir, gift, or a creative way of a follow-up meeting should be an incorporated strategy of the event.

Example:

Thomas Reuters is an organization that provides news and information tools for professionals. Their challenge was retention and expansion with their key accounts. Thus, they created an event opportunity for these accounts.

In these events, the top executives of the exclusive accounts could speak. And Thomas Reuters would quote them in whitepapers, blogs, and more.

It ensured that the sales team would be in contact with the key accounts all year round. Thus, it increased retention and built good relations.

Webinars


A webinar is an option when the physical presence of clients at a similar geographical location is not possible.

But a webinar allows curating a more personalized experience and at convenient times with less utility of resources.

Example:

HotJar Lightning Talks conference is a webinar hosted by HotJar. This webinar gives the speaker maximum of five minutes to address a particular topic. Thus, no long presentation but just a short glimpse of informative or marketing strategies.

Businesses participate in the webinar to present the challenges and solutions to their prospective clients.

Thus, HotJar had many B2B clients participating in the conference and, the idea became a big hit!

Direct Mails


Gifts, marketing material, and creative packages sent through direct mail are a success in ABM. However, account-based marketing requires personalization and direct mail is the best tactic to deliver that.

Example:

Billing Tree is a technology-driven payment processing organization.

It faced the challenge of scheduling meetings with the targeted accounts. Thus, they mailed 100 locked cases secured with two combinations of padlocks. These cases contained US$ 100 Amazon gift cards. Billing Tree gave the combination once they got the appointment with the account.

And once the client opened the case, the lid had a video player embedded in it that played the video pitch for the account.

Billing Tree generated an account engagement rate of 60% with the ABM strategy of direct mail.

Advertising


Personalized advertising has become an easy thing, thanks to IP targeting and re-targeting technology. It allows you to target the big fishes rather than the traditional wide net fishing.

Example:

DocuSign is an eSignature transaction management and solution provider company. It wanted to generate more traffic and click-through rates to form gated content.

The company executed personalized ad campaigns to the target accounts that contained industry-specific images, content, and peer logos. And with detailed web analytics, they targeted the accounts at specific times.

This personalized ads ABM strategy boosted DocuSign’s age views by 300% with a massive conversion rate!

Personalized Website Experience


Technology these days has expanded its horizons to provide incredible experiences, and personalized website experience is one of those. Once you get the technicalities right, your target accounts can have an out-of-the-world personalized experience when they visit the desired page or the website.

Example:

Savi provides sensor analytics solutions for organizations. Their main client bases are the ones that give critical decisions based on the location and status of people. Thus, Savi has to deal with private and government organizations.

Therefore, as a part of specific marketing and sales strategy, they personalized their home pages differently for different clients.

Thus, when government organizations the homepage was:


And for the corporates, the page was:


Ways to Implement ABM


According to the 2020 State of ABM Report, 94.2% of respondents have successfully implemented this marketing strategy.

Thus, you too can implement account-based marketing with these simple steps.
  • Identify your high-value clients.
  • Conduct extensive research on those clients.
  • Strategize your personalized ABM campaigns.
  • Implement the account-based marketing strategy.
  • Analyze the campaign regularly.

Importance of Personalization


Personalization is a crucial part of account-based marketing. Your extensive research about the clients helps you craft unique, creative, and personalized content for them.

A personalized experience ensures an enriched and engaging customer experience.

If a campaign exclusively provides solutions to pain points, clients become customers for life. It also helps to develop good relations.

Remember, account-based marketing is not only about conversions but also about creating brand awareness and relationships.

As Andy Bacon, VP Consulting at Momentum, has quoted, “ABM is all about building better quality relationships; the ROI will follow.”


Frequently Asked Questions


Do different industries need different account-based marketing strategies?

The meaning of account-based marketing is to provide tailored solutions to exclusive clients. So yes, different industries will require different ABM strategies.

One should use distinct and personalized approaches to target different people of the same organization. However, you have to ensure that the marketing message is the same for all, despite the personalization.

What are the different types of account-based marketing methods?

The different types to implement ABM strategies are:
  • Events
  • Webinars
  • Direct Mails
  • Advertising
  • Personalized Website Experience
  • Social Media

What role does personalization play in ABM?

ABM is all about personalization. The more personalized your content is, the more likely the chances are for conversion.

Imagine someone selling you a product designed just for solving your problems. You do not even need convincing if it is the answer to all your pain points. That is the same way in which ABM works.

Spotlight

iProspect

iProspect is a global, award-winning marketing agency that drives digital performance for many of the world’s largest brands. A trusted partner with an in-depth understanding of consumer behavior, iProspect reshapes brand strategies to meet the fast-paced demands of the convergent world with a focus on exceeding the client’s business objectives.

OTHER ARTICLES
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The 5 Things to Know About Account-Based Marketing

Article | January 11, 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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5 Steps for Succeeding in Account-Based Marketing

Article | July 5, 2022

Relative to the mass-market approach of the B2C world, B2B promotion requires a much more targeted approach. The customers are fewer and more discerning but commensurably more valuable and enduring so whether you’re trying to win over a new client or simply keep an existing client on your side, you need to be very careful with what you’re putting out. This is the reasoning behind account-based marketing, otherwise known as ABM. Instead of distributing generic marketing materials, it picks out specific prospects (or sets of prospects grouped by various shared elements) and creates personalized campaigns to suit them. It can be extremely cost-effective, but it needs to be done smartly (which isn’t easy). To help you run a flourishing account-based marketing campaign, we’re going to look at five steps you should take along the way.

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How to Successfully Set Up and Measure Your Account-Based Marketing Strategy

Article | February 10, 2022

The first lesson in this article is to stop thinking differently about ABM and B2B. Sangram Vajre is spot on when he exclaims that “ABM is B2B.” There is no real difference. Whether named or unnamed, every single campaign you launch as a B2B marketer caters to personas in different accounts. Another reality about account-based marketing is that due to the nature of omnichannel marketing and the fact that every prospect does its own research, you’re going to have to process different sets of traffic no matter how much control you think you have over your funnels. With these two things in mind, let’s look at what’s common in a successful ABM strategy, and also how to segment your audience in a way that tells the story of all the steps in your user acquisition models.

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Article | February 10, 2020

Account-Based Marketing has been one of the most preferred B2B strategies for marketers. More than 90% of marketers believe that ABM is essential for the alignment of sales and marketing teams. ABM is all about fostering a better relationship with your target accounts. And especially in this digital transformation era, it’s evident that people aren’t buying products but experiences. As per a recent PwC survey, “73% of consumers cite customer experience as an important factor in their purchasing decisions”. This shift in consumer behavior is what B2B companies/marketers should take note of. Also, ITSMA reports that of the companies that adopted ABM in the past two years, 55% are seeing a significantly higher ROI than with traditional marketing.

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Spotlight

iProspect

iProspect is a global, award-winning marketing agency that drives digital performance for many of the world’s largest brands. A trusted partner with an in-depth understanding of consumer behavior, iProspect reshapes brand strategies to meet the fast-paced demands of the convergent world with a focus on exceeding the client’s business objectives.

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Seeding and harvesting the sales pipeline — the process of acquiring, capturing, qualifying and converting business opportunities — are essential to the growth and profitability of B2B marketers across every industry and geographic sector. Marketing is largely responsible for driving this business process, yet nearly two-thirds of lead gen and engagement strategies are underperforming. A new Chief Marketing Officer (CMO) Council report, produced in collaboration with WM America, entitled “Fire Up Your Revenue Generation Engine,” covers critical aspects of lead generation and engagement. This includes models and metrics for tracking and measuring performance, best practice demand-gen execution, ways to score effectiveness, and more. The latest CMO Council research finds scores of marketers falling behind in lead scoring, account-based marketing, accelerated pipeline, and intention-based marketing. Key findings from a Q4 survey of over 170 B2B marketing, sales, revenue, growth, demand gen and campaign execution leaders include: 63% say marketing must own and optimize a company’s revenue-generation engine 64% say their lead gen and engagement strategy underperforms 78% of highly evolved marketers are satisfied with their accelerated pipeline, compared to only 15% of lesser evolved marketers “In today’s competitive data-driven environment, marketers should no longer be satisfied with paltry returns on their sizable lead-gen and ABM investments,” the report notes. “It’s time to turn the tables on inefficient, ineffective, and outdated practices for anticipating, adapting, and responding to customer needs and opportunities.” “Marketers must climb the evolutionary ladder and leave behind outmoded and dated practices,” notes CMO Council executive director, Donovan Neale-May. “Using AI-derived, intention-based buyer data and advanced sales intelligence are among the ways growth marketers bring more precision, predictability, and performance to B2B account marketing investments.” The CMO Council’s research revealed the top five skill sets contributing to improved ABM-driven business outcomes: Better segmentation and precision targeting of buyers and influencers On-demand customer business intelligence and personal buyer insights Tighter integration of demand gen, channel, direct sales, and support teams Greater utilization of tools and data sources for richer prospect profiling Proactive and timely pre-sales follow up and cultivation strategies The CMO Council has uncovered widening gaps in performance between highly evolved marketers and lesser evolved marketers. Gaps are occurring in four core capabilities: lead scoring, account-based marketing, accelerated pipeline, and intention-based marketing. This report tiers factors that make up a model for better identification, engagement and conversion. The model coincides with the CMO Council and WM America’s thought leadership initiative to advance lead revenue science practices through a certified Lead Evaluation and Assurance Process, or LEAP model. “Marketers will need to take a few LEAPs of faith in the coming months, because sticking to the status quo is just not practical or possible anymore. As data becomes more critical than ever before, CMOs need to extend their visions for innovation and forward-thinking strategies,” according to Lee Salem, WM America’s Vice President of Sales. Methodology The report is based on a survey of over 170 heads of B2B marketing, sales, revenue, growth, demand gen and campaign execution in Q4 2023. 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We take pride in helping our customers drive deeper engagement with their target audiences and extract meaningful insights that result in revenue growth,” said Callan Young, CMO, ON24. “It is our honor to recognize the leading organizations that exemplify excellence in leveraging our platform to create digital experiences that not only meet but surpass their audience’s expectations.” The following organizations were recognized for delivering outstanding digital experiences on the ON24 platform in 2023: Danfossdrove product growth and customer retention by leveraging distributor, reseller and customer data to optimize its webinar and digital engagement program. FloQastinfluenced 82% of event pipeline in Q3 and created 120+ new active opportunities by routing high-quality leads from in-experience demo requests directly to sales. Global X ETFsincreased qualified, high-value leads in Australia by 22%, by integrating ON24 engagement data with their CRM and using the platform’s personalization capabilities. Informaticascaled a live event into a hybrid experience across three key regions simultaneously, driving registration and delivering a consistent customer experience on a global scale. Infopro Digitalincreased conversion rates and registrations by automating processes on the ON24 platform and making real-time adjustments based on customer feedback. Kasperskydrove product adoption and business growth by creating new relationships with prospects and fostering existing relationships with customers. KnowBe4generated over $300k in pipeline through an ON24-powered digital experience. The National Association of Student Financial Aid Administrators (NASFAA)achieved 100% participant satisfaction for its unique and impactful digital experience powered by the ON24 platform. PowerSchoolachieved record-breaking registration rates, 75 CTA clicks, over 400 poll responses and 300+ content downloads during an educational experience with ON24. S&P Globaldoubled marketing qualified leads and boosted engagement by designing an ON24 digital experience personalized to different customer segments. Tata Consultancy Servicesdrove revenue growth with record-high registrations for their webinar on ON24, resulting in 70% attendee participation across 30 countries. Texthelpsourced leads during a webinar series and converted at least 70% of them into marketing-qualified leads within 30 days. TOPdeskincreased revenue and improved its customer engagement by 7% YoY and extended the shelf life of its content with an on-demand hub. TravelMediaGroupclosed three deals from a single digital experience by creating a seamless and engaging customer experience on ON24. UCBachieved a 50%+ attendee conversion rate by enhancing the HCP’s experience and integrating ON24 engagement data with its business intelligence system. UnitedHealthcareachieved an 80% cost savings, increased attendee score and engagement with a new digital engagement strategy and an always-on content hub. Wood PLCsourced leads, increased audience engagement and automated continuing professional education credits on ON24, across different time zones. ZoomInfosurpassed webinar benchmarks by generating a record number of marketing-qualified leads and 190 scheduled demos, resulting in 10 closed-won deals. To learn more about 2023’s leaders in digital engagement, watch the on-demand webinar here. About ON24 ON24 is on a mission to re-imagine how companies engage, understand and build relationships with their audience in a digital world. Through our leading sales and marketing platform for digital engagement integrated with generative AI, businesses use our portfolio of webinar, virtual event and content experiences to drive engagement and generate first-party data, delivering ​revenue growth across the enterprise – from demand generation to customer success to partner enablement. ON24 powers digital engagement for industry-leading customers worldwide, including 3 of the 5 largest global technology companies, 3 of the 6 largest US banks, 3 of the 5 largest global healthcare companies, and 3 of the 5 largest global industrial manufacturers, enabling organizations to reach millions of professionals a month for billions of engagement minutes per year with all the first-party data being captured, generated and integrated from one place. ON24 is headquartered in San Francisco with global offices in North America, EMEA, and APAC. For more information, visit www.ON24.com.

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Bloomreach and Sonepar to Power Continued Search Relevance for Customers

Business Wire | January 12, 2024

Bloomreach, the platform fueling limitless e-commerce experiences, today announced Bloomreach Discovery will continue to power product discovery for Sonepar, the global world leader in B-to-B distribution of electrical products, solutions, and related services, as the companies renew their existing partnership. With Bloomreach Discovery’s AI-driven search and merchandising capabilities, Sonepar enables customers around the world to find what they want to buy — when, where, and how they want. “Sonepar is pleased to partner with Bloomreach as we continue to pursue our next stage of digital transformation,” said Fabrice del Aguila, SVP Digital Factory, Sonepar. “We look forward to leveraging Bloomreach’s expertise in product discovery as we become the first global B2B electrical distributor in the world to offer the best omnichannel experience to all our customers.” Sonepar leverages Bloomreach Discovery to drive personalized experiences across its omnichannel platform. Using rich data to refine search results, Bloomreach Discovery helps customers easily discover the products they want. It also accounts for a range of attributes and quantitative search queries, creating a search experience that is not only personalized, but personalized to the unique needs of B-to-B buyers. “We’re thrilled to continue our partnership with Sonepar,” said Jordan Roper, General Manager and Head of Product, Bloomreach Discovery. “The B-to-B space has so much to gain from digital transformation, and Sonepar is a leader in making that transformation a reality. We’re proud to join them on this journey and look forward to continuing to support their omnichannel experience with the fast ROI and relevance of Bloomreach Discovery.” Learn more about how Bloomreach Discovery and Sonepar are working together to drive success. About Bloomreach Bloomreach personalizes the e-commerce experience. Its data engine unifies real-time customer and product data so businesses understand what customers really want. By connecting that understanding to every channel, the e-commerce experience becomes limitless — reflecting a changing customer as they shop. Amplified by the speed and scale of Loomi, Bloomreach's AI for e-commerce, this creates endless new paths to purchase, greater profitability, and fast business growth. Bloomreach products include: Engagement, a marketing automation platform; Discovery, an e-commerce search solution; Content, a headless CMS; and Clarity, AI-powered conversational shopping. The company has multiple AI patents and serves 850+ global brands including: Albertsons, Bosch, Puma, and Marks & Spencer. About Sonepar Sonepar is an independent family-owned company with global market leadership in B-to-B distribution of electrical products, solutions and related services. Through a dense network of brands spanning 40 countries, the Group has an ambitious transformation agenda to become the first global B-to-B electrical distributor to provide a fully digitalized and synchronized omnichannel experience to all customers. Drawing on the skill and passion of its 44,000 associates, Sonepar had sales of €32.4 billion in 2022. www.sonepar.com

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