Buyer Intent Data
Article | March 6, 2023
You’re overcomplicating it. You don’t need the studio lighting, you don’t need a $2000+ camera, you don’t need a full production crew. Actually, it can actually be more effective for your content to not use any of this. Keep reading to learn how.
By now, I’m sure you’ve noticed the rise of user-generated content (UGC). UGC is photos and videos created for your brand by customers, viewers, or followers. There’s so much beauty in this and throughout 2020, with everyone stuck inside their house, lots of companies had no choice but to make do with what they could. Sometimes this meant FaceTime photoshoots or videos that customers shot on regular iPhones. I am a huge fan of user-generated content and most consumers are, too.
Let’s unpack the beauty of why this is such a beautiful and effective form of content on both the customer side as well as the business’ side.
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Account Based Data
Article | August 19, 2022
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.
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Buyer Intent Data
Article | October 7, 2022
Have you browsed about account-based marketing and how successful it has proved for businesses? Do you wonder whether your business fits in the ABM strategy? And even if you practice ABM, what is to be done differently for your business?
Well, we have answers to all your questions.
As Clive Armitage, CEO at Agent3, said,“We have to act as the eyes and ears of marketing innovation for our clients; they trust us to help them navigate the pace of change in the way that the process of marketing is evolving.”
Thus, your marketing and sales team should be on the same page to deliver an excellent and personalized customer experience.
The implementation of ABM in different industries may be different but the challenges faced are somewhat the same.
The baisc challenge for ABM are personalization and quality content.
So, let us dig deeper into how ABM works for different industry segments. And also focus on how each industry should strategize for successful account-based marketing.
How Is ABM Different for Different Industries?
Every company has different products to sell to various companies. Also, if you sell the same product to distinct companies, you need a unique tactic for every organization.
Account-based marketing is crafting such individual approaches for every client that matters.
For example, if you are an advertising company and you need a luxury car brand account, your ABM strategy will be different for different car brands. It can also be designed differently for every decision-maker.
Thus, you have to be very focused and delicately plan strategies for the target account.
Apart from the people you target, also keep in mind the industry segment that you target. It will help to align strategies with both brands.
Now let us discuss some different types of ABM strategies that work for distinct industry segments.
Types of ABM Strategies (with Real-time Examples)
ABM is a beneficial strategy for all types of companies. But it works wonders for organizations that target large companies who have relatively long sales cycles.
According to the State of Account-Based Revenue Engine 2019 report, organizations saw a whooping 91% improved ROI post-ABM implementation.
Hence, let us see how different ABM strategies have their way of working.
Events
Events have proved to be the most successful of all the ABM strategies.
Once target clients accept the personalized invites to the events, the sales team can easily have in-person meetings. Also, a souvenir, gift, or a creative way of a follow-up meeting should be an incorporated strategy of the event.
Example:
Thomas Reuters is an organization that provides news and information tools for professionals. Their challenge was retention and expansion with their key accounts. Thus, they created an event opportunity for these accounts.
In these events, the top executives of the exclusive accounts could speak. And Thomas Reuters would quote them in whitepapers, blogs, and more.
It ensured that the sales team would be in contact with the key accounts all year round. Thus, it increased retention and built good relations.
Webinars
A webinar is an option when the physical presence of clients at a similar geographical location is not possible.
But a webinar allows curating a more personalized experience and at convenient times with less utility of resources.
Example:
HotJar Lightning Talks conference is a webinar hosted by HotJar. This webinar gives the speaker maximum of five minutes to address a particular topic. Thus, no long presentation but just a short glimpse of informative or marketing strategies.
Businesses participate in the webinar to present the challenges and solutions to their prospective clients.
Thus, HotJar had many B2B clients participating in the conference and, the idea became a big hit!
Direct Mails
Gifts, marketing material, and creative packages sent through direct mail are a success in ABM. However, account-based marketing requires personalization and direct mail is the best tactic to deliver that.
Example:
Billing Tree is a technology-driven payment processing organization.
It faced the challenge of scheduling meetings with the targeted accounts. Thus, they mailed 100 locked cases secured with two combinations of padlocks. These cases contained US$ 100 Amazon gift cards. Billing Tree gave the combination once they got the appointment with the account.
And once the client opened the case, the lid had a video player embedded in it that played the video pitch for the account.
Billing Tree generated an account engagement rate of 60% with the ABM strategy of direct mail.
Advertising
Personalized advertising has become an easy thing, thanks to IP targeting and re-targeting technology. It allows you to target the big fishes rather than the traditional wide net fishing.
Example:
DocuSign is an eSignature transaction management and solution provider company. It wanted to generate more traffic and click-through rates to form gated content.
The company executed personalized ad campaigns to the target accounts that contained industry-specific images, content, and peer logos. And with detailed web analytics, they targeted the accounts at specific times.
This personalized ads ABM strategy boosted DocuSign’s age views by 300% with a massive conversion rate!
Personalized Website Experience
Technology these days has expanded its horizons to provide incredible experiences, and personalized website experience is one of those. Once you get the technicalities right, your target accounts can have an out-of-the-world personalized experience when they visit the desired page or the website.
Example:
Savi provides sensor analytics solutions for organizations. Their main client bases are the ones that give critical decisions based on the location and status of people. Thus, Savi has to deal with private and government organizations.
Therefore, as a part of specific marketing and sales strategy, they personalized their home pages differently for different clients.
Thus, when government organizations the homepage was:
And for the corporates, the page was:
Ways to Implement ABM
According to the 2020 State of ABM Report, 94.2% of respondents have successfully implemented this marketing strategy.
Thus, you too can implement account-based marketing with these simple steps.
Identify your high-value clients.
Conduct extensive research on those clients.
Strategize your personalized ABM campaigns.
Implement the account-based marketing strategy.
Analyze the campaign regularly.
Importance of Personalization
Personalization is a crucial part of account-based marketing. Your extensive research about the clients helps you craft unique, creative, and personalized content for them.
A personalized experience ensures an enriched and engaging customer experience.
If a campaign exclusively provides solutions to pain points, clients become customers for life. It also helps to develop good relations.
Remember, account-based marketing is not only about conversions but also about creating brand awareness and relationships.
As Andy Bacon, VP Consulting at Momentum, has quoted, “ABM is all about building better quality relationships; the ROI will follow.”
Frequently Asked Questions
Do different industries need different account-based marketing strategies?
The meaning of account-based marketing is to provide tailored solutions to exclusive clients. So yes, different industries will require different ABM strategies.
One should use distinct and personalized approaches to target different people of the same organization. However, you have to ensure that the marketing message is the same for all, despite the personalization.
What are the different types of account-based marketing methods?
The different types to implement ABM strategies are:
Events
Webinars
Direct Mails
Advertising
Personalized Website Experience
Social Media
What role does personalization play in ABM?
ABM is all about personalization. The more personalized your content is, the more likely the chances are for conversion.
Imagine someone selling you a product designed just for solving your problems. You do not even need convincing if it is the answer to all your pain points. That is the same way in which ABM works.
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Core ABM
Article | May 23, 2022
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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