Building an Account-centric Organization: Part I

Apurva Pathak | July 1, 2022 | 651 views | Read Time : 05 min

Building an Account-centric Organization
The only constant thing about account-based marketing (ABM) is its evolution. ABM goes beyond plain sales and marketing. It is a strategic and dynamic approach to marketing. It influences B2B buyers who are savvy, digitally native, and educated buying committee members who are otherwise difficult to target, let alone convert.

ABM has evolved from pure one-to-one ABM to one-to-few and one-to-many. We know how ABM is now ABX, which harnesses intent data and programmatic advertising for better results.

Consider a company that wants to implement account-based marketing on its key accounts. If every aspect of this organization revolves around the needs, demands, and requirements of its key accounts, it becomes an account-centric enterprise.

In the first part of this article, we will discuss how an account-based approach on an organizational level can enhance your ABM strategy and help you create relationships that deliver mutual value and growth.

Building an Account-Centric Organization

Transforming an entire organization into an account-centric one is overall an eight-step process. Let us look at the first four:

Two-fold Approach: Check Your Foundation

Examine your foundation before implementing an account-based strategy. Ensure that your tech stack is optimum and that the right employees handle the right responsibilities. Secure the internal buy-in needed to get your ABM program up and running.

Adaption: Make Your Changes Eventually

Make changes to your current strategy only when required and over time. It is unnecessary to completely revamp your organization to align it with your ABM efforts. Ideally, make changes based on your performance. Always focus on the target account so all your teams— demand generation, events, sales, and marketing teams— will have the mindset to target your ICP. The correct approach is to enhance your processes as you go.

Awareness: Train and Educate Your Teams

Your entire team should live and breathe ABM. Align your sales and marketing teams. Other teams should match their processes to best suit the target accounts’ needs. Train and educate your teams, so they can easily adapt to new ABM processes and don’t feel blind-sided.

Analysis: Data Matters a Great Deal

Understand your data. Constantly review, acknowledge, and adjust your processes based on the data at hand. Then, support it with the knowledge of your salespeople. Get their input and advice on which accounts to engage with for optimal results. Then, bring them into the decision-making process for outstanding results.

It’s a Process

Building an account-centric organization requires time and commitment. In the next part of this article, we will discuss important aspects that impact and govern the success of your ABM strategy.

Stay tuned to read the next part of the article.

Spotlight

Mediaxis Marketing

Mediaxis is a leading provider of professional sales and marketing services to emerging market clients. Mediaxis expertise is in the acquisition and retention of customers through an effective combination of approaches including working with a network of independent sales companies, made up of motivated and hardworking sales teams as well as telesales and online methods.

OTHER ARTICLES
CORE ABM

Intent Marketing: Removing Guesswork Out of Marketing

Article | August 5, 2022

In 2018, Demand Gen Report’s ABM Benchmark Survey found that 25% of participating B2B companies used buyer intent data and monitoring tools. 35% of them planned on using intent data within a year. Cut to 2022, and about 99% of B2B marketers are using some form of B2B intent data in their marketing campaigns to target accounts (Source: InboxInsight). In his exclusive interview with Media 7, Gil Allouche, CEO of Metadata.io, talked about how data helps convert leads. “With access to valuable data, marketers are focused on leads that are more likely to become buyers. They can also work on targeting their messaging towards these potential buyers.” Buyer intent data helps in creating a robust foundation for your marketing efforts. Let us look at how intent marketing can help you get the sales and ROI you desire. Intent Marketing: The New Normal in B2B Intent-based marketing uses consumer data that signals purchasing intent through consumption of relevant content like blogs and infographics; product comparisons; product reviews; message boards; case studies; and news. Through this data, you can find out what your prospects are looking for, which stage of the customer journey they are in, if they are researching solutions or ready to make a purchase, and what kind of steps you can take to get in front of them. One of the most important benefits of intent marketing is that it removes the guesswork out of your marketing campaigns and ensures that you are targeting the correct prospects. This targeting can be done through either intent-based branding or intent-based marketing. Intent-based branding decodes the behavior of your target audience online while intent-based marketing harnesses data on the prospect’s buying behavior so you can tailor your marketing offerings accordingly. Consequently, your sales cycle is shortened. Power-up Your Content Strategy The biggest challenge B2B marketers like you face today is to cut through all the noise and create an impact on their prospects. Consumers have a host of content options. However, they do not want to consume unnecessary information. When the content is personalized to match their needs and goals, they are more likely to engage with it. Intent data helps you plan your content as it provides you with information on the theme, buyer personas and their behavior, buyer journey maps, content formats, copy, call to action (CTA), and keyword strategy that will best suit your prospect targeting efforts. An intent-based content strategy can deliver leads while increasing conversion rates and sales. It can give you the competitive edge you need to influence your prospects at the right time. Drive Sales and ROI Intent marketing brings in more conversions on landing pages and overall higher traffic and qualified leads to your website. It uses intent information to recruit engaged prospects for sales demos and events. It helps sales teams to effectively rank their leads and accounts so that they can focus on the right leads at the right time and not miss out on any sales opportunities. Your sales teams can execute effective nurture campaigns and create sales pitches with messaging that appeals to a target account’s buying committee. This messaging addresses the account’s pain points and requirements and accelerates the buying decision. Additionally, intent marketing helps improve customer retention rates and makes it easy for teams to identify cross-sell and upsell opportunities. It takes into consideration the existing customers’ signals to find any at-risk accounts to prevent churn and increase renewal. Data-driven Marketing Personalization Intent data makes it easy to personalize your marketing efforts and provides an accurate report of prospective signals, their needs, and interests so that you can segment and categorize them. Once this segmentation is done, you can determine what kind of content needs to be created and displayed for these accounts depending on their position in the buying cycle. With this kind of personalization, your target audience gets to know that you care about them and you can connect with them on a deeper level. Increase ABM Efficiency B2B buyer intent data helps your marketing, sales, and customer success teams align their goals so that they can agree on target accounts, establish lead hand-off processes, and diversify investments to target newer, relevant accounts while maintaining the current customer list. Intent data provides marketing intelligence for creating ICP in marketing, messaging, and brand positions for B2B account-based marketing. Additionally, it provides account intelligence for target account list creation, ways to increase engagement, improve lead scoring in ABM and lead nurturing tracks, thus increasing the efficiency of your account-based marketing. Summing It Up Intent-based marketing helps B2B marketers like you to understand potential customers so you can find high-value accounts and nurture them through customized content and targeted campaigns.

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CORE ABM

Account Selection: How To Win Before You Start

Article | July 20, 2022

The first step in any account based go-to-market program is to create a target account list. Whether based on a formal Ideal Customer Profile (ICP) or not, the target account list represents an organization’s definition of the best accounts and those most likely to become customers. But in reality, marketers really only communicate with a subset of the account list at any one time, and even struggle to cover the full list over the course of a year.

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CORE ABM

5 Steps for Succeeding in Account-Based Marketing

Article | May 23, 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, 2020

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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Spotlight

Mediaxis Marketing

Mediaxis is a leading provider of professional sales and marketing services to emerging market clients. Mediaxis expertise is in the acquisition and retention of customers through an effective combination of approaches including working with a network of independent sales companies, made up of motivated and hardworking sales teams as well as telesales and online methods.

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Generative AI Leaders Gan Poach New Chief Revenue Officer from ABM Giants 6sense

Generative AI, 6sense | November 14, 2022

Sequoia-backed state-of-the-art generative AI engine, Gan, unveiled their new Chief Revenue Officer, Anupreet Singh, in didactic fashion — by having their AI generate him on a LinkedIn livestream. Anupreet, who previously headed GTM at Slintel (a 6sense company), will now ply his trade building Gan's global revenue efforts across all channels. This comes at a crucial time when Gan will go full steam ahead with their plans to build the generative AI video personalization layer of the World Wide Web — a quantum leap for the visual cortex of the internet. When asked about the decision, Anupreet beamed, "When I first met Suvrat Bhooshan, I saw an AI prodigy desperate to create something significant in the field of generative AI." When asked about the decision, Anupreet beamed, "When I first met Suvrat Bhooshan, I saw an AI prodigy desperate to create something significant in the field of generative AI. But little did I know that Gan’s entire technical team was as sophisticated as it gets. I couldn’t believe the difference in quality between Myna by Gan and its closest competitors. This means we're almost single-handedly building the generative video personalization space." Myna by Gan has powered some of this year’s most innovative marketing campaigns of brands including Zomato, Swiggy, and Samsung, which saw them feature as one of only 200 technologies at TechCrunch Disrupt 2022. Anupreet added, "Video personalization started with Google’s text-to-speech in 2018, and followed by AR digital avatars of humans. With Myna, we’re unlocking a whole new level through hyper-personalised video-based marketing campaigns. With our product, human recordings come alive to speak personalised words based on who’s watching! For users to hear their name, city, most ordered item, etc. from your brand ambassador is as real as it gets. When I first experienced the product, I knew I wanted to make this superpower available to every marketer and salesperson.” Till date, Myna by Gan has generated over 55,000 hours of AI personalised content in 8 languages; watched by over 500 million viewers worldwide. Gan Founder and CEO, Suvrat Bhooshan, also chimed, "With our product adoption growing at a meteoric pace, it was a no-brainer for us to bring in Anupreet, who has led multiple tech start-ups to astronomical growth. We're going all-in with our go-to-market efforts, and we have huge plans for the future."

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CIENCE Announces General Availability of GO Digital DSP Powered by CIENCE GO Data

CIENCE | November 01, 2022

CIENCE® introduces the next generation of account-based marketing (ABM) today with the general availability and official worldwide release of CIENCE GO Digital. CIENCE GO Digital combines the industry-leading GO Data custom audience creation platform and Bidder-as-a-Service (BaaS) demand-side platform (DSP) functionality to give marketers precise and programmatic ad targeting for custom audiences. Unlike other platforms, GO Digital offers the best of both worlds in a single offering: GO Data custom audience creation comes bundled with advanced advertising options for display, video, or audio advertising channels. “We’re excited to become marketing’s best friend, or at least its new secret weapon,” said Eric Quanstrom, Chief Marketing Officer at CIENCE. “We’re excited to become marketing’s best friend, or at least its new secret weapon,” said Eric Quanstrom, Chief Marketing Officer at CIENCE. “We use GO Digital to target our entire ideal customer profile (ICP), which we’ve created in CIENCE GO Data. It’s a seamless account-based marketing workflow that helps us raise awareness and sell our offerings. Because of the targeting capabilities, we’ve seen three times the industry standard click-through rates (CTRs) on our display advertising. And we’ve done this at less than a quarter of the costs of the previous solutions we’d used. This has enabled us to scale our advertising programs to significant volumes of leads.” Market Acceptance The CIENCE GO Digital product has been in beta since Q2 and has already achieved remarkable throughput and adoption in a short period of time. CIENCE GO Digital was just recognized as a Fall 2022 category leader by SourceForge. The SourceForge category leader is only awarded to select products that have attained the highest levels of praise from user reviews from among more than 60,000 products on the platform. “We’re hearing really good feedback on the ability to reach a company’s ICP—and only their ICP—without wasted ad spend,” said Quanstrom. “This potent combination of any ad format, advanced bidding capabilities, and the most comprehensive, accurate contact data on the market is proving to be a winning combination.” Unique Functionality Unique among DSPs, CIENCE GO Digital offers a system that allows buyers of digital advertising inventory to manage both ad exchange and data exchange accounts. Real-time bidding for online advertising (display, video, audio) takes place within the ad exchanges, and by utilizing the CIENCE GO Digital DSP, marketers can manage their cost per mile (CPM) bidding. These advanced Bidder-as-a-Service options keep costs lower than other ad solutions. Furthermore, CIENCE GO Digital bundles CIENCE GO Data—campaign validated data from the number-one ranked lead generation firm in the world—thus providing exacting target audiences. It is possible to reach both hyper-targeted small segmented audiences or hit an entire total addressable market (TAM) cost-effectively, depending on marketing goals. Using the CIENCE GO Digital DSP allows marketers to optimize campaigns based on set key performance indicators such as effective cost per click (eCPC) and effective cost per action (eCPA). CIENCE GO Digital Pricing GO Digital customers benefit from an annual platform subscription service, which then includes flexible target CPM rates—with no monthly spending commits. “We’re playing by our own rules to shake up the industry and bring value to our customers,” said Quanstrom. “Media buying is incredibly easy with CIENCE GO Digital. Our main goal is to offer all the benefits you’d need to go out and buy separately when it comes to reaching your specific ICP target audience … all in one best-of-breed platform.” About CIENCE CIENCE offers a unique blend of data, software, managed services and process to scale fast-growth companies. CIENCE delivers consistent results for over 2,500 companies across more than 250 B2B industries. CIENCE is a global organization with headquarters in Denver, CO (USA), and offices all over the world. Connect with us online at cience.com or on LinkedIn, Twitter, or Facebook.

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81 Percent of Hoteliers See a Lift in Revenue Once a First-Party Data Strategy is Implemented

Sojern | December 02, 2022

Sojern, the leading digital marketing platform built for travel, today released the findings of a 2022 survey to discover “How Hotel Brands Are Using First-Party Data to Drive Revenue and Build Stronger Relationships.” The study, conducted by Benchmark Research Partners with global hotel executives, sought to understand how hotel marketers are thinking about and using first-party data to inform go-to-market efforts. When surveyed about measures of success for their businesses, 81 percent of hoteliers said they have seen a lift in revenue as a result of implementing a first-party data strategy. Hotel executives from the largest global brands were surveyed with 57 percent having seen a lift in guest satisfaction at their properties. Findings found that 59 percent of hoteliers have already implemented a first-party data strategy, and 62 percent say it’s “very important” to digital marketing, while 75 percent of those who have not yet built a first-party data strategy want to build it. Of those who have established a first-party data strategy, it was primarily to maximize campaign performance (73 percent), build stronger customer relationships (67 percent) and maximize overall revenue growth (67 percent). Further findings demonstrate that hoteliers have adopted first-party data strategies not only because they saw the monetary benefits, but also the positive impact on customer satisfaction. Of those surveyed 86 percent saw a first-party data strategy as being effective in maximizing overall revenue, 76 percent in increasing campaign performance, 68 percent in building stronger customer relationships and 64 percent in increasing brand value. Future-proof marketing: Activating first-party data to increase bookings “It's no surprise that three quarters of hotel executives want to build a first-party data strategy. Personalized engagement with consumers is a powerful tool for understanding traveler behavior and creating digital campaigns that deliver the right message at the right time. Marketers must make collecting privacy-friendly 1st party data like hashed emails a priority to power their personalization strategies,” said Kurt Weinsheimer, Chief Solutions Officer, Sojern. “ Marketers can then use their first-party data to learn about their audiences—their interests, search behaviors and travel preferences—to ultimately deliver a relevant, seamless customer experience. With Google phasing out third-party cookies in the second half of 2024, a 1st-party strategy also prepares for this change.” “With the deprecation of third party cookies on the horizon, leveraging first party data is at the center of our audience strategy,” said Jacquelyn DiStasi, Senior Director, Digital Analytics & Optimization from Wyndham. “We invested early in a CDP to ensure we would be able to future-proof our media activation and prevent loss as data collection practices evolve. This shift has enabled us to be more effective and efficient with our spend, leading to better returns for Wyndham. We would highly recommend investing in a first-party data strategy to augment your media practice and partners like Sojern allow for continued growth and enhancement.” In addition, of those hoteliers who have already built their strategies more than two-thirds feel confident they will get more out of it in 2023. “With a cookieless world coming, it will disrupt the entire industry, and marketers must use this time wisely to prepare,” adds Kurt Weinsheimer. “It's a great opportunity for the industry to rethink data strategies, but this requires a new mindset. Rather than marketing to the cookie, travel brands can use the opportunity to use people-based marketing across devices. At Sojern we’re already helping hoteliers build their first-party strategy to unlock customer loyalty and drive profitability.” Supplementing first-party data with a specialist like Sojern After fifteen years supporting travel, Sojern is well versed in helping partners build long-term strategies to stay ahead of changes in the digital landscape. Knowing that direct bookings are the best way to build brand trust, loyalty and profitability, marketers are encouraged to build relationships with their customers to increase the engagement, efficiency and effectiveness of travel marketing strategies. Developing a first-party activation strategy with a trusted travel marketing partner across channels and devices to drive direct bookings is key to that success. To see the survey methodology and download the full Hotel Benchmark Report on how hoteliers can unlock the power of personalisation and privacy through first-party data, click here. About Sojern Sojern is the leading digital marketing platform built for travel marketers. Powered by artificial intelligence and traveler intent data, Sojern provides multichannel marketing solutions to drive direct demand. 10,000 hotels, attractions, tourism boards and travel marketers rely on Sojern annually to engage and convert travelers around the world. About Benchmark Research Partners Benchmark Research Partners conducts studies to help industry participants and technology innovators understand market changes and opportunities through peer benchmarking data.

Read More

CORE ABM

Generative AI Leaders Gan Poach New Chief Revenue Officer from ABM Giants 6sense

Generative AI, 6sense | November 14, 2022

Sequoia-backed state-of-the-art generative AI engine, Gan, unveiled their new Chief Revenue Officer, Anupreet Singh, in didactic fashion — by having their AI generate him on a LinkedIn livestream. Anupreet, who previously headed GTM at Slintel (a 6sense company), will now ply his trade building Gan's global revenue efforts across all channels. This comes at a crucial time when Gan will go full steam ahead with their plans to build the generative AI video personalization layer of the World Wide Web — a quantum leap for the visual cortex of the internet. When asked about the decision, Anupreet beamed, "When I first met Suvrat Bhooshan, I saw an AI prodigy desperate to create something significant in the field of generative AI." When asked about the decision, Anupreet beamed, "When I first met Suvrat Bhooshan, I saw an AI prodigy desperate to create something significant in the field of generative AI. But little did I know that Gan’s entire technical team was as sophisticated as it gets. I couldn’t believe the difference in quality between Myna by Gan and its closest competitors. This means we're almost single-handedly building the generative video personalization space." Myna by Gan has powered some of this year’s most innovative marketing campaigns of brands including Zomato, Swiggy, and Samsung, which saw them feature as one of only 200 technologies at TechCrunch Disrupt 2022. Anupreet added, "Video personalization started with Google’s text-to-speech in 2018, and followed by AR digital avatars of humans. With Myna, we’re unlocking a whole new level through hyper-personalised video-based marketing campaigns. With our product, human recordings come alive to speak personalised words based on who’s watching! For users to hear their name, city, most ordered item, etc. from your brand ambassador is as real as it gets. When I first experienced the product, I knew I wanted to make this superpower available to every marketer and salesperson.” Till date, Myna by Gan has generated over 55,000 hours of AI personalised content in 8 languages; watched by over 500 million viewers worldwide. Gan Founder and CEO, Suvrat Bhooshan, also chimed, "With our product adoption growing at a meteoric pace, it was a no-brainer for us to bring in Anupreet, who has led multiple tech start-ups to astronomical growth. We're going all-in with our go-to-market efforts, and we have huge plans for the future."

Read More

CORE ABM

CIENCE Announces General Availability of GO Digital DSP Powered by CIENCE GO Data

CIENCE | November 01, 2022

CIENCE® introduces the next generation of account-based marketing (ABM) today with the general availability and official worldwide release of CIENCE GO Digital. CIENCE GO Digital combines the industry-leading GO Data custom audience creation platform and Bidder-as-a-Service (BaaS) demand-side platform (DSP) functionality to give marketers precise and programmatic ad targeting for custom audiences. Unlike other platforms, GO Digital offers the best of both worlds in a single offering: GO Data custom audience creation comes bundled with advanced advertising options for display, video, or audio advertising channels. “We’re excited to become marketing’s best friend, or at least its new secret weapon,” said Eric Quanstrom, Chief Marketing Officer at CIENCE. “We’re excited to become marketing’s best friend, or at least its new secret weapon,” said Eric Quanstrom, Chief Marketing Officer at CIENCE. “We use GO Digital to target our entire ideal customer profile (ICP), which we’ve created in CIENCE GO Data. It’s a seamless account-based marketing workflow that helps us raise awareness and sell our offerings. Because of the targeting capabilities, we’ve seen three times the industry standard click-through rates (CTRs) on our display advertising. And we’ve done this at less than a quarter of the costs of the previous solutions we’d used. This has enabled us to scale our advertising programs to significant volumes of leads.” Market Acceptance The CIENCE GO Digital product has been in beta since Q2 and has already achieved remarkable throughput and adoption in a short period of time. CIENCE GO Digital was just recognized as a Fall 2022 category leader by SourceForge. The SourceForge category leader is only awarded to select products that have attained the highest levels of praise from user reviews from among more than 60,000 products on the platform. “We’re hearing really good feedback on the ability to reach a company’s ICP—and only their ICP—without wasted ad spend,” said Quanstrom. “This potent combination of any ad format, advanced bidding capabilities, and the most comprehensive, accurate contact data on the market is proving to be a winning combination.” Unique Functionality Unique among DSPs, CIENCE GO Digital offers a system that allows buyers of digital advertising inventory to manage both ad exchange and data exchange accounts. Real-time bidding for online advertising (display, video, audio) takes place within the ad exchanges, and by utilizing the CIENCE GO Digital DSP, marketers can manage their cost per mile (CPM) bidding. These advanced Bidder-as-a-Service options keep costs lower than other ad solutions. Furthermore, CIENCE GO Digital bundles CIENCE GO Data—campaign validated data from the number-one ranked lead generation firm in the world—thus providing exacting target audiences. It is possible to reach both hyper-targeted small segmented audiences or hit an entire total addressable market (TAM) cost-effectively, depending on marketing goals. Using the CIENCE GO Digital DSP allows marketers to optimize campaigns based on set key performance indicators such as effective cost per click (eCPC) and effective cost per action (eCPA). CIENCE GO Digital Pricing GO Digital customers benefit from an annual platform subscription service, which then includes flexible target CPM rates—with no monthly spending commits. “We’re playing by our own rules to shake up the industry and bring value to our customers,” said Quanstrom. “Media buying is incredibly easy with CIENCE GO Digital. Our main goal is to offer all the benefits you’d need to go out and buy separately when it comes to reaching your specific ICP target audience … all in one best-of-breed platform.” About CIENCE CIENCE offers a unique blend of data, software, managed services and process to scale fast-growth companies. CIENCE delivers consistent results for over 2,500 companies across more than 250 B2B industries. CIENCE is a global organization with headquarters in Denver, CO (USA), and offices all over the world. Connect with us online at cience.com or on LinkedIn, Twitter, or Facebook.

Read More

BUYER INTENT DATA

81 Percent of Hoteliers See a Lift in Revenue Once a First-Party Data Strategy is Implemented

Sojern | December 02, 2022

Sojern, the leading digital marketing platform built for travel, today released the findings of a 2022 survey to discover “How Hotel Brands Are Using First-Party Data to Drive Revenue and Build Stronger Relationships.” The study, conducted by Benchmark Research Partners with global hotel executives, sought to understand how hotel marketers are thinking about and using first-party data to inform go-to-market efforts. When surveyed about measures of success for their businesses, 81 percent of hoteliers said they have seen a lift in revenue as a result of implementing a first-party data strategy. Hotel executives from the largest global brands were surveyed with 57 percent having seen a lift in guest satisfaction at their properties. Findings found that 59 percent of hoteliers have already implemented a first-party data strategy, and 62 percent say it’s “very important” to digital marketing, while 75 percent of those who have not yet built a first-party data strategy want to build it. Of those who have established a first-party data strategy, it was primarily to maximize campaign performance (73 percent), build stronger customer relationships (67 percent) and maximize overall revenue growth (67 percent). Further findings demonstrate that hoteliers have adopted first-party data strategies not only because they saw the monetary benefits, but also the positive impact on customer satisfaction. Of those surveyed 86 percent saw a first-party data strategy as being effective in maximizing overall revenue, 76 percent in increasing campaign performance, 68 percent in building stronger customer relationships and 64 percent in increasing brand value. Future-proof marketing: Activating first-party data to increase bookings “It's no surprise that three quarters of hotel executives want to build a first-party data strategy. Personalized engagement with consumers is a powerful tool for understanding traveler behavior and creating digital campaigns that deliver the right message at the right time. Marketers must make collecting privacy-friendly 1st party data like hashed emails a priority to power their personalization strategies,” said Kurt Weinsheimer, Chief Solutions Officer, Sojern. “ Marketers can then use their first-party data to learn about their audiences—their interests, search behaviors and travel preferences—to ultimately deliver a relevant, seamless customer experience. With Google phasing out third-party cookies in the second half of 2024, a 1st-party strategy also prepares for this change.” “With the deprecation of third party cookies on the horizon, leveraging first party data is at the center of our audience strategy,” said Jacquelyn DiStasi, Senior Director, Digital Analytics & Optimization from Wyndham. “We invested early in a CDP to ensure we would be able to future-proof our media activation and prevent loss as data collection practices evolve. This shift has enabled us to be more effective and efficient with our spend, leading to better returns for Wyndham. We would highly recommend investing in a first-party data strategy to augment your media practice and partners like Sojern allow for continued growth and enhancement.” In addition, of those hoteliers who have already built their strategies more than two-thirds feel confident they will get more out of it in 2023. “With a cookieless world coming, it will disrupt the entire industry, and marketers must use this time wisely to prepare,” adds Kurt Weinsheimer. “It's a great opportunity for the industry to rethink data strategies, but this requires a new mindset. Rather than marketing to the cookie, travel brands can use the opportunity to use people-based marketing across devices. At Sojern we’re already helping hoteliers build their first-party strategy to unlock customer loyalty and drive profitability.” Supplementing first-party data with a specialist like Sojern After fifteen years supporting travel, Sojern is well versed in helping partners build long-term strategies to stay ahead of changes in the digital landscape. Knowing that direct bookings are the best way to build brand trust, loyalty and profitability, marketers are encouraged to build relationships with their customers to increase the engagement, efficiency and effectiveness of travel marketing strategies. Developing a first-party activation strategy with a trusted travel marketing partner across channels and devices to drive direct bookings is key to that success. To see the survey methodology and download the full Hotel Benchmark Report on how hoteliers can unlock the power of personalisation and privacy through first-party data, click here. About Sojern Sojern is the leading digital marketing platform built for travel marketers. Powered by artificial intelligence and traveler intent data, Sojern provides multichannel marketing solutions to drive direct demand. 10,000 hotels, attractions, tourism boards and travel marketers rely on Sojern annually to engage and convert travelers around the world. About Benchmark Research Partners Benchmark Research Partners conducts studies to help industry participants and technology innovators understand market changes and opportunities through peer benchmarking data.

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