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Article | February 19, 2020
Did you know that 80 percent of B2B buying decisions are based on a buyer’s direct or indirect customer experience, and only 20 percent is based on the price or the actual offering? That’s quite a ratio, and helps support the case for adopting an account based marketing (ABM) strategy that leverages personalization tools and tactics to not only drastically improve the customer experience throughout the sales process, but do wonders to your bottom line. After all, an ITSMA and ABM Leadership Alliance study found that in 2019, 71 percent of companies saw greater ROI within their ABM efforts versus their traditional marketing strategies. B2B businesses are taking notice, with the same study finding 73 percent of marketers planning to increase their ABM budgets in 2020. Kudos to them! But ABM is only as effective as the strategy you set in place and the high quality sales content required to keep B2B buyers engaged. That’s where ABM finds its perfect match in personalization.
Revenue teams need to be equipped with actionable information in order to move buyers through an account-based buying journey and close sales. But much of the information they need lives in the “dark funnel,” an ocean of anonymized buyer data. Gathering intent data can give revenue teams the advantages they need to successfully guide prospects in the buying journey.
The B2B sales cycle can be a long journey with many twists and turns in the road. For example, when you’re selling a complex service or piece of software that’s going to impact multiple processes within a business, you need to be patient and attentive in your lead nurturing process. However, here I want to talk about one powerful approach to give your lead nurturing strategy extra fuel and encourage a faster conversion. This is focused on Account-based Marketing (ABM), an approach that has become increasingly popular within B2B organizations over recent years. In his Smart Insights article, Adrian O’Gara defines ABM as: “a strategic approach that coordinates personalized sales and marketing efforts, to target specific accounts for new business and create deeper and broader relationships with existing customers.” Essentially, ABM creates “markets of one” based on specific accounts, allowing you to make your marketing efforts highly specific and personal.
We asked, you answered. We had the chance to hear from over 100 marketers across different company sizes, all pitching in their perspective on the marketing landscape as we take off into 2020. After 2019, we quickly learned that things can feel overwhelming endless channels, tactics, and tips flood our brains each day. With articles like, “The 51 Most Effective Marketing Channels For the Year,” it’s no wonder heads start spinning around all the ways you can get in front of prospects and customers. Before we ran just another inventory on all of the channels and tactics, we wanted to check in with marketers to see where their priorities lie and what skills their teams need to succeed. Before you jump to action, it’s key to reevaluate what you want to achieve and take a look at the marketers behind the scenes.
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