The ABM to ABX Transformation Drives Account Engagement

Apurva Pathak | May 13, 2022 | 193 views

ABM_News.jpg
Account-based marketing brings in a higher ROI compared to other marketing activities. It targets key accounts, but not always at the right time. The buyer experience gets compromised if the strategy does not align with the account’s buyer journey.

Demandbase CMO John Miller paints an interesting picture of what ABM is.

“The analogy that I've always used to describe ABM was fishing with spears, which was an effective analogy. But at the same time, it doesn't feel very good to get poked by a spear.”

- Demandbase CMO John Miller

If ABM pokes accounts without respecting them or creating an emotional connection with them, customer success cannot be guaranteed. This is where ABX comes in. It’s a GTM strategy that puts the value of customer experience above the value of key accounts.


ABM ››› ABX: Why Are B2B Marketers Adopting ABX?

B2B marketers clearly understand how effective the ABX strategy is compared to good old ABM.

Here are the reasons why:
  • Buyer groups are the stars of the show.
  • AI insights provide accurate information on which accounts exhibit buyer intent and what they are looking for. These accounts are engaged through hyper-personalized campaigns only when they are in the buying phase.
  • Marketing, sales, and customer success teams ensure every touchpoint consistently delivers value to the customer.
  • ABX execution involves being agile enough to adapt to the ever-changing behavior and needs of the customer.
  • Every customer is nurtured to deepen loyalty for a long-term business relationship.

Why Does ABX Matter?

Upgrading your plain old ABM strategy to an ABX strategy simply means applying customer experience best practices to your marketing processes. Consequently, your campaigns are trustworthy, impactful, empathetic, and relevant to every stage of your customer’s journey. Targeted messaging that appeals to every member of the customer’s buying team influences the buying decision of the account. The strategy brings sales, marketing, SDR, and customer-facing teams together so they work towards creating a wholesome customer experience consistently across all the touchpoints.

Conclusion

In a world where there is a continuous influx of information and a scarcity of attention, any kind of interruptive marketing may be ineffective and off-putting. Companies should focus on ABX to build trust with key accounts and create engagement that isn’t forced through perfectly orchestrated interactions across a project or management lifecycle.

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Intent Marketing: Removing Guesswork Out of Marketing

Article | July 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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Account Selection: How To Win Before You Start

Article | June 21, 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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5 Steps for Succeeding in Account-Based Marketing

Article | July 1, 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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Slashdot Media is the global leader in professional technology communities. Its properties - Slashdot, SourceForge and Freecode - provide tools, software and forums where IT professionals collaborate, and discuss technology news and products with their peers.

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6sense | November 23, 2022

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Contentsquare Celebrates CX circle Award Wins for London and Paris Flagship Immersive Experiences

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

CIENCE | November 01, 2022

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6sense | November 23, 2022

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

CIENCE | November 01, 2022

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