ABM Implementation in Different Target Segments

Purva Mishra | November 26, 2021 | 50 views

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.

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Five Things That Can Make a Difference to ABM in EMEA

Article | July 5, 2022

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Buying Group Marketing: Another Evolution of ABM

Article | January 11, 2022

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Article | February 10, 2022

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Article | April 29, 2022

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Dodge Data re-engaged 30-40 visitors per day, approaching them right when they were warm, leading to more conversions than when they relied only on demand generation campaigns. Customer Retention Through Insights Post-sales experience is just as important for business growth as gaining new customers. With the help of Demandbase One, Equilar, a software and technology company, was able to retain their customers and serve them on time with the help of insights on product activity and engagement. The company received regular alerts on the accounts it was catering to so it could reach out to them and keep the existing clients happy. Efficient Lead Scoring & Pipeline Growth Pipeline growth is a criterion for success and synchronization between the sales and marketing departments, an important attribute of ABM. Buyer intent data helps business development representatives qualify prospects that show buyer intent so they can book meetings. 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FAQ How can buyer intent data providers help you increase your sales? Intent-based marketing can help you streamline your prospecting pipeline, focus your marketing effort on accounts that show buyer intent, and understand the pain points of customers. This can help you increase your sales pipeline. How can you enhance your ad campaigns using buyer intent data? Intent data can help you make your ad campaigns more granular because it allows you to capitalize on leads that show buyer intent signals. As a result, the ads will target buyers who are close to making a purchase decision. Who are some of the popular B2B buyer intent data providers? Some of the popular B2B buyer intent data providers are Bombora, Slintel, Demandbase, and ZoomInfo.

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NICE Wins the Digital Innovation Award for Customer Experience Excellence

NICE, Ventana Research | July 06, 2022

NICE (Nasdaq: NICE) today announced NICE CXone has won for Customer Experience excellence in the 15th Annual Ventana Research Digital Innovation Awards. The Digital Innovation Awards highlight technology providers that exemplify innovation and strive to create solutions that improve people, processes, information, and technology. CXone is designed to create seamless digital customer experiences, addressing the full CXi landscape. With the unique capability to understand customer intent and optimal experiences with Enlighten XO, and inject knowledge across the customer journey, CXone allows organizations to build smart assistants with a data-driven approach and not based on guesswork. As part of the judging process and methodology, Ventana Research examined case studies and submissions to evaluate nominated organizations’ leadership and outcomes using technology, the best practices it utilized, and the associated business impact and value. All types of organizations were invited to participate, and submissions spanned industries and organizations of all sizes across the world. Paul Jarman, CEO, NICE CXone, stated, “Providing frictionless digital experiences is at the core of our innovation and we are honored to be recognized by Ventana Research. With our unique data and AI capabilities, our digital portfolio takes the guesswork out of the bot building process and is the only way to create the smart self-service experience that consumers demand. “NICE is tackling the limitations of building chatbots head-on, by applying AI at scale to engineer better recognition and accuracy,” said Keith Dawson, Vice President and Research Director for CX at Ventana Research. “NICE is tackling the limitations of building chatbots head-on, by applying AI at scale to engineer better recognition and accuracy,” said Keith Dawson, Vice President and Research Director for CX at Ventana Research. “CXone is an example of innovation made real, in the service of smoother and more successful customer experiences.” About NICE With NICE (Nasdaq: NICE), it’s never been easier for organizations of all sizes around the globe to create extraordinary customer experiences while meeting key business metrics. Featuring the world’s #1 cloud native customer experience platform, CXone, NICE is a worldwide leader in AI-powered self-service and agent-assisted CX software for the contact center – and beyond. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, partner with NICE to transform - and elevate - every customer interaction. www.nice.com About Ventana Research Ventana Research is the most authoritative and respected market research and advisory services firm. We provide insight and expert guidance on mainstream and disruptive technologies through a unique set of research-based offerings including benchmark research and technology evaluation assessments, education workshops and our research and advisory services, Ventana On-Demand. Our unparalleled understanding of the role of technology in optimizing business processes and performance and our best practices guidance are rooted in our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions in every industry. This benchmark research plus our market coverage and in-depth knowledge of hundreds of technology providers means we can deliver education and expertise to our clients to increase the value they derive from technology investments while reducing time, cost and risk. Ventana Research provides the most comprehensive analyst and research coverage in the industry; business and IT professionals worldwide are members of our community and benefit from Ventana Research’s insights, as do highly regarded media and association partners around the globe. Our views and analyses are distributed daily through blogs and social media channels including Twitter, Facebook, and LinkedIn. To learn how Ventana Research advances the maturity of organizations’ use of information and technology through benchmark research, education and advisory services, visit www.ventanaresearch.com

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Merkle Named a Leader Among Customer Data Strategy and Activation Providers

Merkle | July 07, 2022

Merkle, dentsu's leading technology-enabled, data-driven customer experience management (CXM) company, announced that it ranked as a Leader in The Forrester Wave™: Customer Data Strategy and Activation Services, Q2 2022 report by leading independent research firm Forrester Research, Inc. The agency is recognized for its focus on connecting marketing to customer experience, e-commerce, and technology. The Forrester Wave™: Customer Data Strategy and Activation Services Wave, Q2 2022, used 27 criteria to evaluate eight providers. The report reveals how each measure up and helps marketers select the appropriate partner to meet their needs. According to the report, "Merkle serves as the glue that connects departments, data, and dentsu agencies." The report also noted "with a long legacy in direct marketing, Merkle is highly capable of database builds and management. And it receives high marks for its technology capabilities," and went on to say that, "Merkle has a deep analytics bench and takes an analytical approach to much of its work." Merkle received the highest possible scores in many criteria, including first-party PII management, data sourcing, zero-party data, regulatory compliance, marketing technology, cross-channel marketing execution, and advanced customer analytics. "We are honored to be recognized by Forrester as a Leader in customer data strategy and activation services. This ranking is a validation of our vision and our ability to execute on that vision," said Pete Stein, President, Merkle Americas. "We are honored to be recognized by Forrester as a Leader in customer data strategy and activation services. This ranking is a validation of our vision and our ability to execute on that vision," said Pete Stein, President, Merkle Americas. "Merkle partners with brands to deliver on customer expectation – systemically applying data and tools to integrate customer experiences and optimize value, now and ongoing." The company's newest ranking complements dentsu's evaluation as a Strong Performer in The Forrester Wave™: Global Digital Experience Services, Q2 2022. That report noted that dentsu's "identity product, marketing execution platform, and ShopNXT retail enablement tools are strong core assets that dentsu uses to augment clients' XA." Dentsu received the highest possible scores in the customer experience strategy and insights services, digital marketing strategy/implementation services, immersive (AR/VR) experience services, proprietary software assets, and privacy resources criteria. About Merkle Merkle, a dentsu company, is a leading data-driven customer experience management (CXM) company that specializes in the delivery of unique, personalized customer experiences across platforms and devices. For more than 30 years, Fortune 1000 companies and leading nonprofit organizations have partnered with Merkle to maximize the value of their customer portfolios. The company's heritage in data, technology, and analytics forms the foundation for its unmatched skills in understanding consumer insights that drive hyper-personalized marketing strategies. Its combined strengths in consulting, creative, media, analytics, data, identity, CX/commerce, technology, and loyalty & promotions drive improved marketing results and competitive advantage. With more than 14,000 employees, Merkle is headquartered in Columbia, Maryland, with 50+ additional offices throughout the Americas, EMEA, and APAC.

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Choiceform drives the growth of company by upgrading CEM concept to the Total Experience Management platform TX

Choiceform | July 07, 2022

Choicefom, China's leading CEM management platform provider introduced a brand-new CEM concept to its Total Experience Management platform TX that helps to improve customer experience and clients' business performance. According to forecasts from IDC, QY Research and Touch PointChina's customer experience management (CEM) market is on track to grow to US$1.8 billion in 2022, accounting for 15 per cent of the global market. China is now stepping into a fast track of enterprise growth with the focus on enhancing the customer experience. With the new concept, Choiceform helps to create business growth for its clients through its absolute advantages in three steps. 1.Launching its strategic concept of the Total Experience Management In China, many industries are about to enter the stage of slow growth and saturation. For companies, the demand for consumer insights and for experience data is growing rapidly, opening the way to significant development potential for CEM. It may soon become something no company can do without. Consequently, it becomes very important to accurately define CEM. The TX Total Experience concept proposed by Choiceform is a customer-oriented strategic management system that includes brand experience (BX), product experience (PX) and service experience (SX), supplemented by employee experience (EX). The perfect combination of the four metrics demonstrates a complete holistic consumer insights which drives enhanced experience management. Not to be overlooked is that employees will also directly affect how a customer feels about the company and the brand. CX and EX will form a positive cycle of complementary and sustainable development. Choiceform TX was born from the concept that CEM must be comprehensive. 2. Improving customer satisfaction with scalable one-to-one interactions across the customer's whole life cycle The customer journey is an important vehicle to creating the best customer experience. Choiceform emphasizes the use of Moment of Truth to define the experience strategies, and to merge the scattered operational data with quality experience data scientifically. Across the full life cycle, in addition to solving the problem of data silos and achieving data convergence, it is more important to uncover the painpoints and unmet needs so as to transform and reshape the experience. When optimizing the interactions with customers, Choiceform TX will automatically initiate sustainable and scalable one-to-one interaction campaigns. The automatic advance warning + multi point trigger mechanism creates a one-stop professional and standardized closed-loop management system, to ensure a sustained interaction across the whole life cycle in real time. Based on the development plan for modular applications, Choiceform will expand from a SaaS platform provider to PaaS platform provider starting this year, making it easier for companies to connect with different SaaS applications. 3. TX is not just a tool, but the brain of enterprises developing the date-driven scientific strategic growth decision Discovery and predictions are the core of insights, while effective decisions based on the conclusions is the ultimate goal. In the future, companies that can minimize the process from data collection to decision making will be better positioned to seize market opportunities. The Choiceform TX platform truly makes data work, discovers and identifies the most valuable information for companies, and empowers them to find the best marketing paths through intelligent and digital technological innovation, transforming every decision into one that is science-based and informed. The value of Choiceform does not only lie in helping companies collect data, but about helping them improve customer satisfaction, retention, and ROI conversion rates. This is the unmistakable difference between CEM and other big data solutions. CEM is no longer a tool to execute processes, but a key factor in driving strategic business decisions. Data and technologies are the basic elements, but data security in its most comprehensive form is the fundamental protection. Choiceform's "data security control center" provides security protection for different data levels and covers the whole data life cycle from generation to deletion. Firstly, infrastructures with comprehensive defense capabilities are built to cover the security baseline in the machine room as well as across the network, system and application data, so as to improve the capacity to deal with advanced security threats. Secondly, a resource management infrastructure is built to prevent unauthorized data access and maintain data confidentiality, integrity and availability through data encryption, key management and data shielding, among other techniques. Thirdly, normalized security operation infrastructures are built for compulsory implementation of secure development lifecycles (SDLs), effectively removing security vulnerabilities, as well as for dealing with every kind of security issues in a comprehensive, networked, systematic way through continuous implementation of vulnerability scans, penetration tests, code audits, security scheme design and implementation, security training and establishment of emergency response teams. Choiceform is committed to implementing data security standards in compliance with the strictest regulatory guidance. Integrating its advanced abilities in providing customer insights with technologies to empower industry development Choiceform's business has from day one been CEM, with its prowess in technology integration and in providing customer insights setting it apart from the competition. Founded in 2015, Choiceform currently has teams in Shanghai, Beijing, Guangzhou and Wuhan, serving customers in the automobile, real estate and property, finance, fast moving consumer goods (FCMG), computers, communications, consumer electronics and gaming sectors, among others. Core R&D teams account for 65% of the firm's headcount. Choiceform has also assembled an insight team led by senior industry experts, all with more than 20 years' experience, to drive the global data insights practice. Choiceform Founder and Chief Executive Officer Wester Xi said, "This year is the seventh year since our inception. Choiceform has it in its roadmap to build a world-class product with Chinese characteristics and to continue driving the development and growth of the Chinese CEM market." Choiceform Founder and Chief Executive Officer Wester Xi said, "This year is the seventh year since our inception. Choiceform has it in its roadmap to build a world-class product with Chinese characteristics and to continue driving the development and growth of the Chinese CEM market." About Choiceform Choiceform is China's leading Total Experience Management platform. It is the new growth engine for customer-centric enterprises. The company is dedicated to integrating multi-source data, discovering and predicting the real needs and preferences of every customer through cloud technologies, while delivering solutions that drive science-based decision-making across organizations.

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NICE Wins the Digital Innovation Award for Customer Experience Excellence

NICE, Ventana Research | July 06, 2022

NICE (Nasdaq: NICE) today announced NICE CXone has won for Customer Experience excellence in the 15th Annual Ventana Research Digital Innovation Awards. The Digital Innovation Awards highlight technology providers that exemplify innovation and strive to create solutions that improve people, processes, information, and technology. CXone is designed to create seamless digital customer experiences, addressing the full CXi landscape. With the unique capability to understand customer intent and optimal experiences with Enlighten XO, and inject knowledge across the customer journey, CXone allows organizations to build smart assistants with a data-driven approach and not based on guesswork. As part of the judging process and methodology, Ventana Research examined case studies and submissions to evaluate nominated organizations’ leadership and outcomes using technology, the best practices it utilized, and the associated business impact and value. All types of organizations were invited to participate, and submissions spanned industries and organizations of all sizes across the world. Paul Jarman, CEO, NICE CXone, stated, “Providing frictionless digital experiences is at the core of our innovation and we are honored to be recognized by Ventana Research. With our unique data and AI capabilities, our digital portfolio takes the guesswork out of the bot building process and is the only way to create the smart self-service experience that consumers demand. “NICE is tackling the limitations of building chatbots head-on, by applying AI at scale to engineer better recognition and accuracy,” said Keith Dawson, Vice President and Research Director for CX at Ventana Research. “NICE is tackling the limitations of building chatbots head-on, by applying AI at scale to engineer better recognition and accuracy,” said Keith Dawson, Vice President and Research Director for CX at Ventana Research. “CXone is an example of innovation made real, in the service of smoother and more successful customer experiences.” About NICE With NICE (Nasdaq: NICE), it’s never been easier for organizations of all sizes around the globe to create extraordinary customer experiences while meeting key business metrics. Featuring the world’s #1 cloud native customer experience platform, CXone, NICE is a worldwide leader in AI-powered self-service and agent-assisted CX software for the contact center – and beyond. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, partner with NICE to transform - and elevate - every customer interaction. www.nice.com About Ventana Research Ventana Research is the most authoritative and respected market research and advisory services firm. We provide insight and expert guidance on mainstream and disruptive technologies through a unique set of research-based offerings including benchmark research and technology evaluation assessments, education workshops and our research and advisory services, Ventana On-Demand. Our unparalleled understanding of the role of technology in optimizing business processes and performance and our best practices guidance are rooted in our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions in every industry. This benchmark research plus our market coverage and in-depth knowledge of hundreds of technology providers means we can deliver education and expertise to our clients to increase the value they derive from technology investments while reducing time, cost and risk. Ventana Research provides the most comprehensive analyst and research coverage in the industry; business and IT professionals worldwide are members of our community and benefit from Ventana Research’s insights, as do highly regarded media and association partners around the globe. Our views and analyses are distributed daily through blogs and social media channels including Twitter, Facebook, and LinkedIn. To learn how Ventana Research advances the maturity of organizations’ use of information and technology through benchmark research, education and advisory services, visit www.ventanaresearch.com

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Merkle Named a Leader Among Customer Data Strategy and Activation Providers

Merkle | July 07, 2022

Merkle, dentsu's leading technology-enabled, data-driven customer experience management (CXM) company, announced that it ranked as a Leader in The Forrester Wave™: Customer Data Strategy and Activation Services, Q2 2022 report by leading independent research firm Forrester Research, Inc. The agency is recognized for its focus on connecting marketing to customer experience, e-commerce, and technology. The Forrester Wave™: Customer Data Strategy and Activation Services Wave, Q2 2022, used 27 criteria to evaluate eight providers. The report reveals how each measure up and helps marketers select the appropriate partner to meet their needs. According to the report, "Merkle serves as the glue that connects departments, data, and dentsu agencies." The report also noted "with a long legacy in direct marketing, Merkle is highly capable of database builds and management. And it receives high marks for its technology capabilities," and went on to say that, "Merkle has a deep analytics bench and takes an analytical approach to much of its work." Merkle received the highest possible scores in many criteria, including first-party PII management, data sourcing, zero-party data, regulatory compliance, marketing technology, cross-channel marketing execution, and advanced customer analytics. "We are honored to be recognized by Forrester as a Leader in customer data strategy and activation services. This ranking is a validation of our vision and our ability to execute on that vision," said Pete Stein, President, Merkle Americas. "We are honored to be recognized by Forrester as a Leader in customer data strategy and activation services. This ranking is a validation of our vision and our ability to execute on that vision," said Pete Stein, President, Merkle Americas. "Merkle partners with brands to deliver on customer expectation – systemically applying data and tools to integrate customer experiences and optimize value, now and ongoing." The company's newest ranking complements dentsu's evaluation as a Strong Performer in The Forrester Wave™: Global Digital Experience Services, Q2 2022. That report noted that dentsu's "identity product, marketing execution platform, and ShopNXT retail enablement tools are strong core assets that dentsu uses to augment clients' XA." Dentsu received the highest possible scores in the customer experience strategy and insights services, digital marketing strategy/implementation services, immersive (AR/VR) experience services, proprietary software assets, and privacy resources criteria. About Merkle Merkle, a dentsu company, is a leading data-driven customer experience management (CXM) company that specializes in the delivery of unique, personalized customer experiences across platforms and devices. For more than 30 years, Fortune 1000 companies and leading nonprofit organizations have partnered with Merkle to maximize the value of their customer portfolios. The company's heritage in data, technology, and analytics forms the foundation for its unmatched skills in understanding consumer insights that drive hyper-personalized marketing strategies. Its combined strengths in consulting, creative, media, analytics, data, identity, CX/commerce, technology, and loyalty & promotions drive improved marketing results and competitive advantage. With more than 14,000 employees, Merkle is headquartered in Columbia, Maryland, with 50+ additional offices throughout the Americas, EMEA, and APAC.

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