Buyer Intent Data
Article | October 7, 2022
Introduction: Account-based Marketing and ABM Tactics
B2B account-based marketing is a strategic approach that focuses on targeted campaigns for high-value accounts. An account-based marketing strategy involves identifying target accounts, reaching out to them using hyper-personalized content, and engaging them in the right way and at the right time, irrespective of their position in the sales funnel. Closing the deal through an alignment between sales and marketing is the ultimate goal of an effective account-based marketing campaign. By using certain ABM tactics, you can enhance your campaign. Let us first understand what account-based marketing is, what challenges it can help you scale, and how it can help you get a higher ROI compared to any other marketing strategy that exists today.
Why Should You Implement Account-based Marketing?
According to ITSMA, 87 percent of marketers say that ABM marketing outperforms other marketing investments. B2B account-based marketing gets better results year-over-year after its implementation. With changing times, B2B customer expectations have changed. A more humane marketing strategy, customized content, the right channels, and a smooth customer experience are some of them. Not only does ABM targeting offer solutions to customers’ specific challenges, but it also converts leads with buyer intent into customers. Here are some of the challenges that an effective account-based marketing strategy will help you overcome:
Aligning Your Sales and Marketing Teams
The account-based marketing process involves streamlining the goals, objectives, and metrics of your sales and marketing teams. This eliminates the possibility of poor communication. Instead, there is a group effort to go after the right people to get a better return on investment.
These teams centrally view the targeted accounts through your CRM. This breaks the silos and boosts the impact of your ABM tactics. It allows unobstructed data sharing between marketing and sales. The account-based marketing process solely functions using centralized data and empowers both teams to make the most of the intent data and predict when and how to engage with the stakeholders of the target accounts.
Effective Content Personalization
As a central metric, customer experience is of paramount importance to creating lasting associations with target accounts. Most customers know what they want and need, are aware of the market conditions, and seek solutions that work best for them. They want these solutions to be offered to them on a platter through predictive customer experience. ABM scores a homerun in this aspect. It connects customers with content personalization characterized by distinct messaging speaking about challenges and solutions. Content is important to the success of an account-based marketing campaign right from the start.
Achieving Complete Data Utilization
B2B account-based marketing is a data-driven marketing technology that drives success for your business. Data is used to predict the needs of target accounts, understand their pain points, and preferred channels of communication. Clean intent data helps in increasing brand awareness among target accounts, streamlines the buying cycle, and assists marketing in creating content and messaging that best represents your brand and sharing it with sales teams so that they can use it to convert leads. Feedback data can also help marketing to access the success of the account-based marketing campaign and improve it to get better results in the future.
Maintaining Long-term Relationships with Customers
No matter the kind of B2B marketing strategy (ABM Lite, Strategic ABM, or Programmatic ABM) you choose to apply, its personalized approach boosts confidence and trust in buyers because they experience a stellar customer experience. Through customized content and focused service offerings, lasting long-term relationships with target accounts can become a reality. It also creates new opportunities for businesses.
Marketing Budgeting
An account-based marketing program enhances marketing budgets by improving customer retention and makes it easier to track ROI. It also improves your brand awareness, engagement, and lead quality metrics, so you can allocate your resources better.
Now that the benefits of account-based marketing are evident, let us now look at ABM tactics to further enhance your B2B account-based marketing strategy.
ABM Tactics to Optimize Your Marketing Strategy
Before you start using any tips and tricks to optimize your account-based marketing program, you should set your expectations and finalize the KPIs you intend to use to measure the success of your B2B ABM marketing tactics.
Let us explore some ABM tactics that can optimize your account-based marketing program:
Optimize Your ABM Funnel
Optimizing your ABM funnel may be one of the most effective account-based marketing tactics that can help you achieve growth.
Target Accounts
Optimize your target accounts using the following ways:
Content Auditing
Audit your content and verify if it caters effectively to your target accounts’ personas and the industry they belong to. Stringently review every content piece you have to ensure it is hyper-personalized and addresses the target accounts’ needs and pain points. Sometimes, your content may help you tighten your target account list.
Use Intent Data Wisely
ABM targeting should be dynamic. Update your target account list based on the intent data you receive from CRM and other platforms. You must know what your target accounts are searching for. Is it something about your business, your product, or the solutions you offer? You should always use this data to enhance your list.
Approach Different Segments
Simultaneously run multiple account-based marketing campaigns with different levels of personalization and investment. Choose from ABM Lite (one-to-few accounts), Programmatic ABM (one-to-many accounts), or Strategic ABM (one-to-one) based on your ABM targeting goals.
Engaged Accounts
Optimizing engaged accounts can be difficult because no two engaged accounts can be in the same stage of the sales funnel. Checking on how your ads are performing through click rates, organic visits on your website, email click through rates, or any other digital interaction with your brand can be a good start. Your ads should be informative yet beautiful. Improve on your copy and tighten your target account list so you reach out only to the accounts that are engaging with your content. Go all out through social media, emails, and all other channels available on the internet to reach out to engaged accounts. These account-based marketing tactics ensure that you take advantage of target account engagement enthusiastically through all channels.
New Opportunities
Help your sales team to enhance the rate of new opportunities through lead generation strategies created by ad retargeting so they can tap into the accounts that have interacted with your ads previously with renewed vigour. Creating an account engagement model to define an ‘engaged account’ in collaboration with your sales team can smoothen out the process of controlling the number of accounts it has to work on.
Outreach
Focus on creating or warming up existing relationships with the employees of your target account stakeholders. Use direct mail or personal meetings to get in touch with your target accounts. This opens the doors to new pipeline opportunities. One-to-one C-level campaigns, phone calls, and demos can be used to reach more people, warm up leads, and create brand awareness.
Improve Sales Velocity
Sales velocity is the average time taken from when an opportunity is created to when it is converted into a customer. Treat every opportunity that comes your way with the same dedication that you show to your target accounts. This approach is applicable to all the lead generation strategies you execute. Opportunities may make their way through your ABM platform or through inbound channels. Once they make their way through the funnel, make it a point to shift from awareness to ROI campaigns by exhibiting customer success stories and testimonials. These efforts can lead to a shortened sales cycle.
Harness Social Media
For the success of your B2B marketing strategy, using social media can be an effective way to capture important target accounts’ behavioral data. Follow their company accounts, stakeholder accounts, and employee accounts to remain updated. Understanding stakeholders’ and employees’ social media behaviour, likes, and engagement can help you narrow down your target account list. Strategically calling out the target accounts on social media through mentions can work in your favour.
Use Paid Advertising & Content Marketing
LinkedIn targeting, paid Google ads, industry-specific blogging along with problem and solution-oriented content can create target account engagement. Consider using account-based marketing services to market your content better and more accurately.
Marketing Automation
Artificial intelligence (AI) based marketing can optimize your account-based program by providing you with predictive insights and enhancing your communication efforts. Email campaigns can be executed using marketing automation to offer measurable account engagement. AI and big data rely on CRM data to gather user information from different platforms. This information can help you personalize your content better. Account-based marketing services offer these options to execute targeted marketing campaigns at scale.
According to a MarketingProfs survey, companies that used this ABM tactic saw 59 percent increase in closing rates.
Implement Influencer Marketing
Harness the influence of industry experts, thought leaders, and recognized contributors that your target accounts consider authentic. It can improve your conversion rate. By humanizing the buyer experience through an influencer, you can win over the trust of your accounts, encourage brand advocacy, attract new audiences, and increase the authority of the content you share. This tactic adds value to your B2B marketing strategy.
Test, Measure, Improve
Periodically testing your ad copy, content, design, and channel elements to see what works and what doesn’t is crucial to improving B2B account-based marketing. Tracking important KPIs that measure the success of your strategy can help you make it more effective. Avoid being constrained and try new things boldly. If something doesn’t work, find other ways to achieve your goals instead of scrapping the strategy. Account-based marketing tactics will only work if you analyze how they affect your strategy and accordingly keep improving its execution.
In an interview with Media 7, Daniel Englebretson, the founder of Khronos, talked about how to improve an account-based marketing strategy.
“The best programs, and the best marketers, have built their success on the back of rapid iteration and a long history of testing, learning, and continuously improving.”
Northrop Grumman Won a $2 Billion Contract by Leveraging Account-based Marketing
Northrop Grumman, an aerospace and defense company headquartered in Virginia, clinched a ten-year, $2 billion contract with VITA. Their B2B ABM marketing tactics included using marketing and business development teams that worked closely to understand VITA’s issues, needs, and priorities. They used all this information to create a focused branding campaign to target the key decision makers at VITA. They ensured that every interaction they had with VITA reinforced their IT expertise.
The Takeaway
These ABM tactics are just the tip of the iceberg when it comes to optimizing your account-based marketing program. Confidence, attentiveness, and patience are key to achieving expected conversions from an ABM strategy.
FAQ
What are the types of ABM marketing?
Programmatic ABM (one-to-many approach), ABM Lite (one-to-few approach) and Strategic ABM (one-to-one approach) are the three types of ABM marketing.
Why is account-based marketing more effective than traditional B2B marketing?
Account-based marketing targets accounts with buyer intent. It increases the conversion rate and customer experience through content personalization and a close understanding of key accounts’ needs and challenges. This focused approach leads to a higher ROI.
What are the benefits of using account-based marketing software?
An account-based marketing software powered by AI can help you reach, engage, and convert target accounts and provide you with actionable data through your websites, CRM, and marketing automation platforms. It helps you grow your business quickly and efficiently.
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Buyer Intent Data
Article | March 6, 2023
Is ABM just Another Bullshit in Marketing* or a path to success? After some exciting years of establishing and experiencing ABM, I think, there is clearly a potential for both: a chance for a significant contribution to success, or just another bullshit.
There are many paths in both directions (succeed or bullshit) - below are some thoughts and personal observations - and I leave the decision with you!
ABM and the Relationship with Sales:There is no chance for ABM if you are not working in lockstep and partnership with sales. Anything else is just bullshit.
The Right Balance to Scale ABM,1:1 ABM vs. ABM at Scale:Both approaches have their reasons and value. As ABM at scale is often discussed, the key question is: what makes the approach account based? Applying ABM methods in a scaled environment is an enormous chance to put more customers into the center, especially if 1: few is seen as a scaled 1:1 (and not as a small 1: many). Account insights are used for better planning, personalization, messaging, and content development – the right balance is the key. The chance of scaling ABM to death is relatively high - then just don't call it ABM.
From Pipeline Only to Customer Loyalty:What is the expected outcome? This quarter’s pipeline? Or a long-term successful relationship with a loyal customer? How will you measure success in such a customer relationship? There are extensive lists of KPIs for ABM. Leads are normally not part of it - for a reason.
My view is: Finally, ABM has to contribute to the business, especially in the long-term. It is relatively easy to realize short-term success, but will your accounts be loyal customers over the years? Will they grow over time or only for a quarter? Defining joint goals for sales and ABM and committing as peers to customer lifecycle-related goals, not just single deals, reduces the risk of delivering bullshit.
Is Your Approach "Marketing for Accounts" or "Account Based"?
There is value in both in marketing for accounts and in account-based marketing. If you label it “ABM,” make it account-based. Ideally, you look at your data and insights and decide: is that enough to make it an ABM approach? If so, great! If not, fix your data. My company invested an enormous effort in fixing the data and developing an innovative view of our accounts.
Listen to Your Customers! That's something I do by myself, and I ask my team to do so, too.
Have you ever asked your customer (humans, people, executives - not data) how your ABM was received? Do they value what you do for them, and what exactly makes the difference between all the many newsletters and emails they receive? We measure everything we do, but we do not really measure what we don't do. What do you think about it?
*By the way, the "bullshit statement" was made by a sales leader in one of my first ABM presentations in front of his team. We have proven multiple times the opposite, but to be constantly successful, we have to challenge ourselves daily: Is that really ABM what I do? Can I prove it? What is the expected short-term and long-term outcome? What will my customer think about it? One has to reflect on these questions.
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Buyer Intent Data
Article | August 23, 2022
ABX is about quality, not quantity.
The traditional metrics that have been used to gauge ABM success are not useful in the experience-centric realm. The new and more complex benchmarks for measuring success revolve around:
Relationship analytics
Journey analytics
Attribution analytics
Once you’ve successfully closed accounts, you want to make sure you understand which ABM programs helped to contribute to that sale so you can rinse and repeat. This is where you can evaluate how a vendor measures ABM success and the entire Account-Based Experience. You will want to choose a vendor who can help you optimize your programs from the top of the funnel to the bottom, and grow your customer’s lifetime value.
Some examples of metrics to measure include the volume and velocity of an account as it makes its way through the buyer journey. This helps you understand whether your programs are engaging enough as well as whether your sales cycle is too long.
A strong ABM vendor will also have different methods for measuring attribution since not all businesses are alike, and marketers love seeing attribution models so they can measure the success of their marketing efforts and ROI.
Other metrics to consider include advertising campaigns and website visits – but with an account-based lens. After all, you want to understand whether your advertising is reaching the right accounts and which accounts are engaging on your website. If you find you’re short-staffed, some ABM vendors offer strategic services to help you with your ABM strategy and measurement. To learn more about vendor onboarding and support, read the next section.
Because ABX has a different set of metrics than ABM, when it comes to measuring the performance of the ABM solution from the vantage point of the customer experience, the scope also changes.
The vendors on your shortlist should, among other features:
Offer a dashboard to measure ABM impact from across the funnel.
Track volume, velocity and conversion metrics for each journey stage.
Offer customizable subscriptions for all custom reports.
People and account based heatmaps.
Allow you to combine first party, third party, firmographic and technographic data for segmentation and reporting.
Allow you to compare the performance of different audiences or account lists and evaluate the impact of specific programs.
Enable you to see the engagement and activities that influenced the different stages of a deal cycle.
Measuring a journey and a relationship in the long term requires measuring as much data as possible, so find out if they also:
Centralize your existing data sources in one location?
Track B2B metrics by account?
Track and report on anonymous first-touch visitors by account?
Have strategic services in place to help you set up ROI reporting based on your strategies? Allow you to compare different timeframes for account stages?
Provide advanced BI capabilities for ABM?
The point of measuring is to take action based on knowledge and insights, and having an ABM solution that allows you to bring together all of the relevant data points for your decision-making is pivotal for the success of your business. Our agnostic Definitive Guide to Choosing an Account-Based Marketing Platform provides you with checklists like the one above as well as the reasoning behind the need for each of the features outlined in the ebook. Check it out and take advantage of the printable list we put together for your own use at the end of the guide.
ABX is about quality, not quantity. The traditional metrics that have been used to gauge ABM success are not useful in the experience-centric realm. The new and more complex benchmarks for measuring success revolve around:
Relationship analytics
Journey analytics
Attribution analytics
Once you’ve successfully closed accounts, you want to make sure you understand which ABM programs helped to contribute to that sale so you can rinse and repeat. This is where you can evaluate how a vendor measures ABM success and the entire Account-Based Experience. You will want to choose a vendor who can help you optimize your programs from the top of the funnel to the bottom, and grow your customer’s lifetime value.
Some examples of metrics to measure include the volume and velocity of an account as it makes its way through the buyer journey. This helps you understand whether your programs are engaging enough as well as whether your sales cycle is too long.
A strong ABM vendor will also have different methods for measuring attribution since not all businesses are alike, and marketers love seeing attribution models so they can measure the success of their marketing efforts and ROI.
Other metrics to consider include advertising campaigns and website visits – but with an account-based lens. After all, you want to understand whether your advertising is reaching the right accounts and which accounts are engaging on your website. If you find you’re short-staffed, some ABM vendors offer strategic services to help you with your ABM strategy and measurement. To learn more about vendor onboarding and support, read the next section.
Because ABX has a different set of metrics than ABM, when it comes to measuring the performance of the ABM solution from the vantage point of the customer experience, the scope also changes.
The vendors on your shortlist should, among other features:
Offer a dashboard to measure ABM impact from across the funnel.
Track volume, velocity and conversion metrics for each journey stage.
Offer customizable subscriptions for all custom reports.
People and account based heatmaps.
Allow you to combine first party, third party, firmographic and technographic data for segmentation and reporting.
Allow you to compare the performance of different audiences or account lists and evaluate the impact of specific programs.
Enable you to see the engagement and activities that influenced the different stages of a deal cycle.
Measuring a journey and a relationship in the long term requires measuring as much data as possible, so find out if they also:
Centralize your existing data sources in one location?
Track B2B metrics by account?
Track and report on anonymous first-touch visitors by account?
Have strategic services in place to help you set up ROI reporting based on your strategies? Allow you to compare different timeframes for account stages?
Provide advanced BI capabilities for ABM?
The point of measuring is to take action based on knowledge and insights, and having an ABM solution that allows you to bring together all of the relevant data points for your decision-making is pivotal for the success of your business. Our agnostic Definitive Guide to Choosing an Account-Based Marketing Platform provides you with checklists like the one above as well as the reasoning behind the need for each of the features outlined in the ebook. Check it out and take advantage of the printable list we put together for your own use at the end of the guide.
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ABM Accounts
Article | November 20, 2021
The pandemic has changed the marketing world to a great extent. Customers have tremendously adapted to online buying.
The pandemic has forced B2B customers to adapt to new ways of buying and selling. Customers are ready for online meetings and connecting digitally as far as the buying approach is concerned. The only thing that matters to them is that the solutions should answer their hurdles or challenges like personalization and strategizing marketing so
But for the selling process, B2B marketing strategies needed creativity. Companies had to put their heads together to convince a buyer through conversations on digital platforms. It was not easy. But B2B companies have taken up the challenge and managed to come out with flying colors.
Let us look at the changed scenario of B2B marketing.
The Changed Scenario for B2B Marketing
In 2020, when the world came to a standstill, people expected it was just a break, and they might return to their lives in no time. But this myth was busted when people had to adopt the new normal instead of going back to normal.
Every industry faced challenges, including the B2B industry. Imagine the industry, which had the habit of meeting decision-makers and convincing them with presentations, had to do all the work digitally.
But they found solutions after some months of struggles, and the businesses were back on track. Of course, there were difficulties on the way, but they answered every obstacle with time.
B2B marketing best ideas include account-based marketing, conversational ABM, personalized campaigns, correct use of data, and more. These paved a path for successful B2B marketing amidst the pandemic.
Thus, learning from them, we have curated a list of tips for successful B2B marketing.
Tips for Successful B2B Marketing
These best ways to market B2B are listed after diving deep into the struggles of B2B marketing. The experts of this area have experienced hurdles and implemented these solutions.
Have a Buyer-centric Approach
In an interview with Media7, Dmitry Chervonyi, Chief Marketing Officer at Belkins, stated that,
“If you don't solve your customers' problems and make their lives better, then it is a waste of time to do this kind of business.”
So, you understand how essential the customer is! These days it is more about the customer than about sales. Therefore, you must have a 360-degree alignment with the customer’s needs and preferences. Through this, you have better chances of conversion.
Take Risks
The market is very unpredictable post the pandemic. The companies that you thought may not require your service can be the ones changing the game. So, do not refrain from taking risks. First, of course, calculate the risks, but they take them.
For example, before the pandemic, some businesses may have invested massive resources in digital marketing. As a result, they might not see the results immediately. But meanwhile, the pandemic erupted, and Boom! They were the only ones who survived in the market.
Thus, the results of a calculated risk may be harmful or positive, but you either earn profits or learn something valuable from it!
Implement ABM
If you are a B2B marketer and have not implemented ABM in your marketing strategy, you need to do it immediately. Account-based marketing has the best conversion rate compared to the traditional methods.
And this is the best strategy to be implemented post the pandemic. The reason is that companies have various challenges and need immediate solutions. Thus, if you filter the best clients, address their struggles, and target them, they will waste no time in approaching your sales team.
But this is possible only when you design the best ABM strategy. Click here to know more about account-based marketing for B2B.
Have an Agile Approach
Clive Armitage, CEO at Agent3, believes that,
“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.”
It means that Agent3 changes its strategies and services as per the clients and market demands. They also keep the clients in the loop of the changes and innovations happening in the market.
Thus, have an agile approach. Be ready to change your marketing growth strategies and plans according to the conditions around you.
Be Future Ready
The example set by the rental car company Hertz shows how future-ready they are with their latest investment. Despite their business being affected by the pandemic, it resurfaced itself through trusted investors. But instead of following the age-old techniques of rental cars, they ordered 100,000 Teslas to electrify its fleet.
Not only did Tesla’s shares hit sky-high but, Hertz was all over the news. This critical investment defines how Hertz is making itself future-ready as it knows the future is electric cars.
This example explains how important it is to invest for the future, considering the changing customer demands. Hence, implementing the latest technologies like AI and machine learning in marketing campaigns can make you future-ready. Plus they also create a great impression in the mind of the customers.
And We Conclude
Remember, marketing is all about understanding your customers and delivering what they want. Once you know your customers, you have hit the bull’s eye. So hit targets by taking risks, investing in technology, and developing a personalized approach.
And most importantly, adapt to the changing world to thrive in it!
Frequently Asked Questions
How to identify a successful B2B marketing plan?
Analyze your marketing performance
Perform competitor analysis
Define your marketing goals
Identify your marketing budget
Implement the latest B2B marketing trends
How successful is ABM strategy in B2B marketing?
Account-based marketing guarantees a better conversion than traditional marketing methods. Plus, it is one of the most trending strategies in B2B marketing. As a result, companies have saved many resources and fulfilled their sales targets by incorporating account-based marketing.
Does ABM guarantee a 100% success rate?
Well, ABM guarantees a success rate that may be not 100% but surely more than any other marketing strategy. The success of account-based marketing depends on the personalized content and the tailored approach you provide to your clients.
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