Account-based selling vs. account-based marketing

| September 17, 2019

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Account-based marketing (ABM) has quickly become a best practice for marketing to high-value target accounts at scale. If you are selling a complex solution that touches multiple business units within a large company, you likely employ some version of account-based marketing to drive engagement with your target audiences and ultimately win new customers. When executed successfully, your ABM efforts can positively impact customer retention and even upsell revenue.

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Marketing Vitals

MarketingVitals.com is a cloud based Restaurant Intelligence Company that changes the way restaurant marketers look at data giving them the ability to plan and predict marketing results. MarketingVitals.com utilizes BIG DATA to generate analysis of restaurant’s data to deliver predictive analytics that account for prior year performance, trending sales, impact of holidays, events, weather, and several other factors.

OTHER ARTICLES

A 5 Step Journey to Launching an ABM Program

Article | February 27, 2020

While account-based marketing (ABM) has gained a lot of traction among B2B marketers, there isn’t much consensus in the industry around how to get started. We’re still seeing ABM strategies develop and mature, so the account-based playbook isn’t as clear or as widespread as the lead gen funnel was. That’s why in episode 2 of “Ask an ABM Expert”, Andrew Mahr, our Chief Customer Officer and host of the mini-series, tackles the five steps that we encourage practitioners to take when launching an ABM program. Andrew has helped launch thousands of successful ABM campaigns using this tried and true process, and today we’ll be diving into why each of these steps is foundational to fueling pipeline growth.

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CORE ABM

Why Should Businesses Incorporate Conversational Marketing in ABM?

Article | February 27, 2020

Do you target your high-value clients using account-based marketing? Have your sales and marketing teams gathered all the data required to set up a marketing campaign for your valuable clients? Well, if you have hit the start button, then you should be well-versed with conversational marketing strategies, too. What Is Conversational Marketing? Conversational marketing is a one-to-one conversation with the client or customer to provide them with an enhanced shopping experience. This conversation can include chatbots, live chats, filling up contact forms, or feedbacks. Conversational marketing helps in generating leads, revenue, and personal connection with the customers. This approach also helps in understanding the pain points of the customer at a personal level. As a result, this personalized approach attracts the customer, enhances their buying journey, and makes them feel connected to the brand. What Does Conversational ABM Mean? Conversational marketing, when incorporated in ABM, is known as conversational ABM. And it is an essential step in enhancing the client’s journey through conversational ABM. Conversational ABM is an essential aspect of account-based marketing. When targeted clients click on the ad campaigns or visit your website, they must receive a tailored treatment. Let us explain this with a basic shopping example. Assume that you are an owner of a luxury brand that sells cars. Your brand needs a public figure and, you have been targeting a couple of high-value clients for the same. You have been using ABM strategies to get to them. Finally, one day, one of them walks into your store. So what do you do? Of course, you have the best salesperson attend to them. This salesperson knows everything about the client and addresses their pain points through a lucid and formal conversation. As a result, the client feels that you have made efforts to know them and address their challenges. They understand that for you; they are more than just a customer. This personalized conversation constructed with the help of research data is known as conversational ABM. Importance of Conversational Marketing in ABM “Conversational marketing is about leveraging the power of real-time conversations and two-way dialogue to engage customers and seamlessly move them through your marketing and sales funnels. This could be online chats, social media channels, or live brand experiences, but the end goal is the same — engaging with customers one-on-one to stand out from the competition and humanize your brand.”- Nicole Bojic, SVP of strategy at InVision Communications: Conversational marketing is of extreme importance. Conversational ABM helps you stand out in your client’s vision. Once the client visits your website or clicks on the link curated for him, your team needs to be super ready to provide them a personalized experience. This approach of conversational marketing will help to: Connect the client to the brand Build rapport with the client Make the client feel that you are well-versed with their pain points and challenges. Build a personal relationship with the targeted businesses Ensure conversion and client retention How to Strengthen ABM Using Conversational Marketing Conversational ABM is developed in the most personalized and formal way. Conversational marketing in ABM is carried out through chats, calls, or in-person meetings. It is always better for a real person to have a conversation with the client in real-time instead of using chatbots. Align strategies so that your team instantly connects to the targeted client as soon as they visit your website or click on the relevant link. They should have a personalized approach right from the beginning. The best way to keep the clients connected is by involving them in a formal conversation while addressing their challenges and pain points. The live chat option has limitations, so your team should know when to switch from chats to audio or video calls. But, again, do this while keeping in mind the convenience and comfortability of the client. Whatever the mode of communication is, you need to consider the following points while initiating conversation ABM. Direct your sales team instantly to start the conversation as soon as the target account lands on your website. It may include enabling push notifications through emails, messages, or any other conversational marketing solutions. Ensure that the welcome messages and conversations are streamlined with the research and ad campaigns. The client should feel connected, in sync, and cohesive. Greet your target accounts with human-led chats over automated chats. This step amplifies a seamless customer experience. Sculpt the conversation totally about the buyer’s account. They should feel that you have made great efforts to know them and address their challenges. Your content needs to be customized to address their specific needs. Know when to upgrade from a chat conversion to an audio/video call to take things forward. Go beyond basic conversations and show how much the client matters to you. Do everything to provide them with a premium and over-the-top sales experience. And the Conversation Leads to Conversion. Based on a survey by DemandGen Report, 95% of target accounts said they would choose the solution provider who helps them navigate through each step of the conversion process. Conversational ABM is a critical step for a successful ABM. Thus, ensure you prepare your sales and marketing team for the best conversational approaches. This will eventually lead to successful engagement and conversion of the targeted clients. Frequently Asked Questions What is conversational marketing? Conversational marketing is encouraging conversations that are client-centric. These one-to-one conversations are designed to provide a personalized and premium customer experience. The conservations are aligned with the research and specifically address the pain points of the customer. What is ABM strategy? Account-based marketing is a marketing strategy that concentrates on creating strategies and targeting high-value clients. This client list for ABM is curated while keeping in mind that these are the most likely to convert. The strategy consists of gathering maximum data about the client and creating tailored ad campaigns or pitches for them. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What is conversational marketing?", "acceptedAnswer": { "@type": "Answer", "text": "Conversational marketing is encouraging conversations that are client-centric. These one-to-one conversations are designed to provide a personalized and premium customer experience. The conservations are aligned with the research and specifically address the pain points of the customer." } },{ "@type": "Question", "name": "What is ABM strategy?", "acceptedAnswer": { "@type": "Answer", "text": "Account-based marketing is a marketing strategy that concentrates on creating strategies and targeting high-value clients. This client list for ABM is curated while keeping in mind that these are the most likely to convert. The strategy consists of gathering maximum data about the client and creating tailored ad campaigns or pitches for them." } }] }

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How Marketers are Resetting their Priorities and Skills to Win Big in 2020

Article | February 27, 2020

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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How to Leverage the Power of Marketing Automation for Your Demand Gen Operations

Article | February 27, 2020

One of the most significant shifts in demand generation is the move towards account-based marketing. Traditional marketers utilized a ‘one-to-many’ approach where tracts of messages were blasted to an extensive database. The age of personalization has now dawned on-demand generation. Marketers need to tailor their messages to suit personas and targeted accounts better. This form of marketing abandons the idea of fishing with a wide net. It instead promotes hunting for your biggest fish with spears. Marketers need automation tools to enhance their account-based marketing operations. Data shows demand generation automation can increase customer engagement by 68%. It will also strengthen timely communications and increase demand gen opportunities by 58%.

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Marketing Vitals

MarketingVitals.com is a cloud based Restaurant Intelligence Company that changes the way restaurant marketers look at data giving them the ability to plan and predict marketing results. MarketingVitals.com utilizes BIG DATA to generate analysis of restaurant’s data to deliver predictive analytics that account for prior year performance, trending sales, impact of holidays, events, weather, and several other factors.

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