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Buying Group Marketing: Another Evolution of ABM

Apurva Pathak | May 23, 2022 | 1214 views

Buying Group Marketing: Another Evolution of ABM
B2B marketers use account-based marketing (ABM) to generate business because it allows them to drive focused account-level interactions. These interactions are a result of relevant and customized messaging. Today, the messaging focuses on not just one decision-maker but a group within the target account that green lights a buying decision. This natural evolution in ABM implementation is called buying group marketing (BGM). It isn’t a new concept but keeps evolving. B2B marketers are religiously implementing BGM in their ABM strategy to get a competitive edge and to keep up with the changing trends in the ABM industry.

Carefully created buyer personas are used to create hyper-personalized campaigns for buying group members. In this sense, BGM is a person-centric marketing approach, differentiating it from an account-based marketing approach.

While talking about buying group marketing, Dmitri Lisitski, CEO and Co-Founder, Influ2, a B2B targeted advertising solutions provider, said,

"Buying Group Marketing will empower B2B marketers to achieve greater precision by extending this approach more holistically across their programs."


How Does BGM Drive Revenue?

Revenue factors into every effort that aims to increase sales numbers, retain customers, and engage prospective customers. Let us look into how BGM drives revenue in the B2B domain.

Closing the Gap Between Sales and Marketing

Organizations struggle to bring sales and marketing teams together. They max out their budgets to make it happen, but more often than not, they do not get the expected results. Additionally, their marketing automation platform doesn’t make the connection between the multiple leads coming from the same account. This lack of insight can affect the performance of the entire demand management process, such as sales, revenue development, and customer organization. 

Buying behaviors are constantly shifting. It is crucial to use a fresh approach that enables the teams to connect directly with the target accounts’ decision-makers, offering them just what they need through effective campaigns and driving revenue is crucial.

In the buying group framework, marketing and sales align their goals and operations, share important insights on buyer personas, orchestrate messaging for campaigns, and collate data from platforms such as CRM and sales engagement tools to successfully find common ground for approaching a buying group. They are no longer stuck on one side of the MQL wall but are involved in every stage of the conversion process. As a result, they guide specific buying group members to make a buying decision and generate revenue.

Putting Buyer Experience on Top

In a Forrester survey, 94% of respondents said they sold to buying groups that had three or more individuals, while 38% said that they sold to groups of 10 or more.


Purchase decisions in large enterprises are never restricted to one individual. The bigger the purchase decision, the bigger the buying committee. The bigger the buying committee, the larger the pool of buyer personas that need targeting.

For example, if the HR department of a growing organization realizes that it needs a new human capital resource management system (HCRM) to manage its HR-related processes, then a buying group is created to choose a new system. When this group goes to the market to find a solution, it becomes a potential lead for HCRM providers, and the lead is called a demand unit. Targeting this demand unit with not just the HCRM but also a travel and expense solution (T & E) is possible with BGM.

In BGM:

  • Every step in the buyer’s journey is based on buyer personas and presents value to the buying group.
  • Every demand management process focuses on the buying group.

Through this approach, multiple types of selling opportunities can be explored. All this effort appeals to different buying group members in different ways and will push them to get in touch with the sales team and make a purchase decision.

Offering Solutions to Pain Points

Information designed precisely to complete the purchase should be provided to every member of the buying group committee. Interestingly, before making a purchase decision, members of the buying group will explore the content of different solution providers. According to a recent study by Dimensional Research, 90% of buyers thought that positive online reviews of a product or service influenced their buying decision. This is just one type of information that the buying group members will consume before they make a buying decision.

With the help of real-time intent targeting or cognitive product targeting, it is easier to understand the customer’s intent through channels like websites, apps, and email. The terms searched, specific or broad, can point to the needs and requirements of a member of the committee. Once the intent is clear, buyer personas can be segmented and targeted with prescriptive content that talks about solutions to their pain points and how the expected results are achieved. For example, if a C-level buying committee member displays a high level of intent activity, then it is highly likely that he or she is looking to make a strategic investment. Such an opportunity will be ready for sales conversion in a couple of months.

How Should You Implement BGM on Sales Funnel?

We have already established the importance of buying group engagement in driving leads through the sales funnel. When sales and marketing teams share insights, marketing becomes effective and tangible. Now, let us take a look at BGM implementation in the sales funnel:


Top of the Funnel

While targeting a buying group at the top of the funnel, the focus should be on creating awareness and understanding the demand of the target account. Social media ads and relevant landing pages that act as lead magnets can help achieve this goal.


Middle of the Funnel

For buying groups in the middle of the funnel, engaging and educating the groups is imperative. Posting relevant content on social media handles can foster interaction with the members. LinkedIn messages from sales development representatives with ad and landing page support are effective.


Bottom of the Funnel

Conversations that lead to conversion start when the buying group is at the bottom of the funnel. In this stage, the account executives present members with compelling content that addresses their pain points and influences them enough to make a purchase decision.

While executing BGM, B2B marketers should begin by understanding the business needs of the target account and create a comprehensive marketing strategy to address these needs. Orchestrating a holistic experience for the buying committee through high-quality, relevant content is the next step. Achieving a strategic, operational and practical alignment with sales will ensure success and higher conversions.

Amplitude Drives 5.6x ROI on Ad Spend with Influ2’s Help

With Influ2’s person-based advertising, Amplitude, a digital optimization system provider, focused 100% on advertising to key decision-makers within its target accounts. Influ2 used engagement insights to create and execute personalized and attributable B2B marketing. The result was a 5.6x ROI on ad spend.


Last Word

ABM marketing has evolved with the help of buying group marketing. Implementing BGM with an account-based marketing strategy can create lasting relationships with target accounts, retain existing clients and bring new leads.


FAQ


What are the three important tenets of buying group marketing?

The three important tenets of buying group marketing are understanding the needs of the target account, attaining sales and marketing alignment, and creating a holistic marketing strategy that addresses the pain points of the target account.


How is buyer experience different than customer experience?

Customer experience focuses on the existing customers in the pipeline, while buyer experience focuses on the prospective customers’ complete buyer journey.


How can you engage top-of-the-funnel audiences in buying group marketing?

You can engage top-of-the-funnel audiences through social media ads and relevant landing pages that display content relevant to the needs of the target account.

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Expandi Purchases Account-Based Marketing Platform Jabmo

ExchangeWire | September 27, 2023

Expandi Group, the largest EMEA B2B martech and ad tech provider, today (September 26th, 2023) announced the purchase of B2B account-based marketing (ABM) platform Jabmo and all its marketing assets, including the well-known brand. With offices in Europe and the US, Jabmo has powered ABM B2B marketing strategies for more than 50 of the world’s largest manufacturing, life sciences, and healthcare organisations. A leading provider of ABM platforms, in December last year Jabmo was inserted as one of the top nine providers in the Gartner® 2022 Magic Quadrant™ for ABM platforms. In February 2023, the business went into administration and Expandi, in July 2023, acquired all assets of the company including the platform. The Jambo brand is now owned by Expandi Group and the platform functionalities have been integrated within the Expandi martech platform. Expandi is re-launching a stronger than-ever Jambo ABM platform leveraging most of the features of the former tool (including integration with the major social media platforms, CRM and marketing automation systems) now combined with all of the innovative Expandi applications. These include the Cyance platform for third and first-party intent-data analytics and the account based advertising platform based on a unique IP addresses database from AccountInsight. Customers and partner agencies will have greater visibility and insights across B2B markets. They will also be able to improve the results of ABM strategies and overall return on investment (ROI) by delivering targeted campaigns to companies most likely to buy. From Q4 2023, by tapping into Jabmo’s well-established network in the US and harnessing Expandi’s enriched data across markets, the Group will start serving all key markets in Asia Pacific (APAC) and North America. Raffaele Apostoliti, CEO at Expandi, said Expandi is now the only company with comprehensive B2B ad tech and martech solutions built by Europeans with Europe in mind. Our investment in Jabmo shows our continued commitment to providing unique technology platforms which fit with European markets and challenges, from privacy regulations to multiple languages and local marketing practices. About Expandi Group Expandi Group is a global leader in ad tech, martech and marketing-managed services. Expandi Group mainly operates in the market with the following brands: Expandi Match, Expandi Agency, Cyance, AccountInsight, and Session Media.

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Account Management

Bestselling Author Launches 'The Integrated Marketing Handbook': Your Guide to a Game-Changing Marketing Strategy

Accesswire | September 29, 2023

Bestselling authors Dr. Raghavendra Hunasgi and Priyanka AB Brahmbhatt illuminate the path to effective marketing in their latest book. Renowned for his transformative insights into marketing and growth, the bestselling author and co-founder of Zeebu, Dr. Raghavendra Hunasgi, is set to captivate readers once again with a powerful new addition to the world of marketing literature. His new book, "The Integrated Marketing Handbook: Your Ultimate Guide to Building a Killer Marketing Strategy," promises to be a compelling resource for those seeking to revolutionize their marketing approach. The book is co-authored by Priyanka AB Brahmbhatt, a dynamic entrepreneur, visionary thinker, and accomplished author whose innovative ideas and strategic insights have been instrumental in shaping the narrative of this compelling work. Dr. Raghavendra Hunasgi is a recognized expert in the fields of marketing and branding. His debut book, "Unleashing Growth: 15 Growth Marketing Hacks Every Entrepreneur Should Know," which provides invaluable insights into growth marketing, was hailed as a bestseller in 2020 in the business, management, and entrepreneurship categories. His expertise and innovative approach have made him a sought-after voice in the industry. In "The Integrated Marketing Handbook," Dr. Raghavendra Hunasgi, along with co-author Priyanka Brahmbhatt, presents a comprehensive guide to maximizing marketing reach and effectiveness by integrating various strategies. The book is a treasure trove for marketers and entrepreneurs, offering an in-depth exploration of inbound, outbound, and account-based marketing techniques. Each strategy is explored in depth, from attracting customers through content creation in inbound marketing to reaching out to customers through various forms of advertising in outbound marketing and building relationships with key accounts in account-based marketing. Dr. Hunasgi's expertise in marketing and branding is evident as he provides practical advice on how to effectively integrate these strategies. The book serves as a practical guide, offering insights on aligning messaging, targeting the right audience, and measuring success to maximize results in today's competitive environment. As an author, my passion has always been to delve into the diverse aspects of marketing and growth strategies. My previous book, ‘Unleashing Growth,' provided readers with proven systems for growth marketing, and now with ‘The Integrated Marketing Handbook,' I invite readers to join me on a journey through the complex world of integrated marketing. It's an honor to share these insights and experiences with my readers, says Dr. Raghavendra Hunasgi. Priyanka Brahmbhatt adds, "‘The Integrated Marketing Handbook' is designed to resonate with a broad audience, captivating both those familiar with our previous work and those encountering our writing for the first time. We believe that this book will serve as a valuable resource for anyone looking to enhance their marketing strategies." With these powerful insights from both authors, ‘The Integrated Marketing Handbook' is set to be a game-changer in the world of marketing literature. Those interested in securing a copy will find it readily available on Amazon: https://amzn.eu/d/flBGt0T. For media inquiries, interviews, and speaking opportunities, you can reach out to Dr. Raghavendra Hunasgi on LinkedIn. About Dr. Raghavendra Hunasgi Dr. Raghavendra Hunasgi is a globally recognized expert in marketing and branding. He is the co-founder and chief marketing officer of Zeebu, a pioneering on-chain B2B invoice settlement platform. His strategic insights have been instrumental in guiding Fortune 500 companies to success through insight-driven marketing. A globally-renowned entrepreneur, published author, and in-demand speaker at TEDX and conferences around the globe. He is a 21st-century leader and influencer whose words and work in the field of marketing and branding are helping organizations leapfrog to the next level. He is ranked amongst the top 100 CMOs in the world. He speaks and writes enthusiastically about brand strategy, entrepreneurship, product innovation, growth marketing, and sales. His work has been published in the Wall Street Journal, Forbes, Entrepreneur Magazine, and more. About Priyanka Brahmbhatt Priyanka AB Brahmbhatt is a visionary corporate governor and thought leader currently working as the executive board member for the Bankai Group of Companies. She is also a UNSDG advocate, a Forbes U 30 nominee, a Forbes NY Council member, an author and philanthropist, and a motivational speaker. She has led several narratives, especially in the tech space on gender equality and equity. She is a Data-Driven Marketeer by education and passion, holding a gold medal from the National Marketing Honor Society.

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