Programmatic ABM
Article | June 9, 2022
6sense, the leading platform for predictable B2B revenue growth, today announces the results of the commissioned Total Economic Impact (TEI™) study conducted by Forrester Consulting examining the potential return on investment (ROI) by deploying the 6sense Revenue AI solution. The TEI study shows organizations using 6sense Revenue AI can achieve an ROI of 454% over three years, recouping their investment in less than six months with ROI increasing steadily thereafter.
These results align with 6sense’s own analysis of customer data which indicates a significant increase in revenue growth obtained within the first two quarters of prioritizing 6sense Qualified Accounts (6QA) which are prospects in-market to buy a solution and represent an ideal fit.
“As sales and marketing teams face increasing challenges to predictably grow pipeline and revenue while optimizing resources, our customers rely on 6sense as their unique competitive advantage to help them align on targets, maximize efforts, and significantly scale growth,” said Jason Zintak, CEO of 6sense. “We believe Forrester’s findings confirm that applying AI-driven insights to prioritize and target the right accounts at the right time with 6sense Revenue AI increases revenue and drives efficiencies across sales and marketing.”
According to the study participants, before using 6sense Revenue AI their organizations’ traditional marketing and sales efforts had languished while costly time and resource investments no longer provided results. Frustrated revenue teams were ineffective, often using point solutions requiring significant manual effort while delivering little value. They selected 6sense to create pipeline more efficiently and predictably.
Leveraging 6sense Revenue AI to capture buying signals and target the right accounts at the right time, the TEI study’s composite customer experienced the following benefits:
Increased sales revenues: Interviewees reported that 6sense identified 6QA opportunities were more likely to close and had higher average contract values. By increasingly focusing on prioritized accounts, revenue teams delivered significant gains in profits for their organizations.
2X increases in average contract value
4X increases in win rate
31% increases in opportunity volume
Decreased costs: Interviewees cited using 6sense to market and sell more efficiently and effectively. Acting on insights provided by 6sense unlocks significant resource optimization gains, including:
40% reduction in aggregate costs to qualify opportunities
40% reduction in effort to close opportunities
20-40% reduction in time to close deals
Study participants reported a wide range of optimization and cost reduction benefits using 6sense Revenue AI including sales productivity gains from enhanced insights and better prioritization, tech stack consolidation, improved conversion rates across the buyer’s journey, reduced customer acquisition costs and optimized marketing spend. One interviewee indicated their customer acquisition costs dropped by nearly 50% within two years of implementing 6sense.
“6sense Revenue AI is the first and only platform to apply the power of data, machine learning, and automation across the entire buyers’ journey to provide a better customer experience and produce the kind of pipeline that converts to revenue. This means the entire revenue team makes insight-driven decisions, prioritizes time and resources more effectively, and realizes better outcomes,” said Amar Doshi, SVP of Product and UX at 6sense. “Our customers repeatedly claim results similar to those that participated in the TEI Study.”
To develop the study, Forrester interviewed nine 6sense customers, identifying the benefits, risks, and outcomes they experienced while using the company’s product experience platform. Forrester’s (TEI) consulting practice develops business value justification analysis to help organizations understand the financial impact of a technology investment. The TEI methodology has been used for over 20 years by technology organizations. It consists of four components to evaluate investment value: cost, benefits, flexibility, and risk.
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Buyer Intent Data
Article | June 20, 2023
Many businesses employ Software-as-a-Service (SaaS) for its flexibility and simplicity to fulfill their marketing requirements. Different types of SaaS marketing platforms help companies simplify their marketing needs. But growing a SaaS company isn’t easy. It is quite challenging because the industry is flooded with competition. Research had predicted very early on that 73% of the companies would turn all their apps into SaaS by 2021, making SaaS competition fiercer than ever. Marketeers eye for consumers’ already limited attention spans in B2B and B2C spaces.
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Buyer Intent Data
Article | March 6, 2023
Metrics, Analytics, and Insights in ABM
It is a fact that ABM gives a higher ROI as compared to other marketing strategies. If you are a marketer who has painstakingly built an ABM strategy from scratch, you would understand the amount of time it takes to execute it and for it to show measurable results. How do you measure the success of your ABM strategy? You need to understand the metrics, analytics, and insights. Marketers use these terms interchangeably, but there is a difference between them.
By using raw data points, metrics show you the incremental changes in how target accounts interact with your brand.
Analytics compares the metrics over time to show you how your ABM strategy is performing.
Metrics and analytics together help you gain insights into what is working and what isn’t.
Insights help you take action to improve your ABM strategy.
To measure the success of an ABM strategy, you need to use ABM Key Performance Indicators (KPIs) metrics. ABM KPIs track the performance of your strategy with respect to customer service, marketing, efficiency, revenue, and employment statistics.
In an interview with Media 7, Abhi Yadav, Founder & CTO of Zylotech, talked about the importance of customer intelligence in marketing:
Tracking every point of engagement is critical in delivering a holistic view of where buyers are actively engaged and what’s working.
Defining ABM KPIs
Use the SMART criteria to evaluate the effectiveness of a KPI. SMART stands for Specific, Measurable, Attainable, Relevant, Time-Bound.
By identifying how well the KPI fits into these criteria, you can define it. Find answers to the following questions to define your KPI:
Is your goal specific?
Is your goal measurable?
Is it attainable?
Is it relevant to your business?
Is the goal time-bound?
A well-defined KPI should be a part of your marketing analytics strategy to accurately track the performance of your ABM strategy.
KPIs You Should Measure to Track ABM Success
Sales Funnel Metrics
Measuring sales funnel metrics can quickly pinpoint where your ABM strategy has fallen out of alignment with your business goals. They can be classified into three types:
Upper Funnel Metrics
Upper funnel or top-of-funnel metrics track the engagement rate of the leads within your target accounts. They assess the time taken for a lead to complete specific actions like opening your emails, receiving, or responding to direct mail, visiting your website, and more. You can pinpoint which leads are closer to buying based on the increase in engagement. These metrics also help you know which accounts don’t know anything about your company. You can improve your strategy to capture these accounts.
Is there a huge gap between the products and services your target accounts want and the ones you offer? This gap is the white space. Find your white space by identifying where you lack engagement within your accounts. Should you consider targeting different accounts? Eliminate the white space once you find the answers to these questions. Your goal should depend on the size of the company and the number of ICPs you are targeting.
Middle-of-Funnel Metrics
These metrics help measure the impact of your campaign on your top accounts. Are your target accounts having productive meetings and engagements with your sales team? Swiftly moving your leads to the sales team is an indicator of an effective ABM campaign. Also, you should measure the quality of the campaign based on how many leads move to the next stage of the funnel.
Bottom-of-Funnel Metrics
For the bottom-of-funnel metrics, measure average selling point (ASP) to gauge if you have targeted the right accounts with your campaign. If you have a higher close rate within your ABM accounts that means your campaign is performing well. As compared to other marketing strategies, ABM helps businesses increase their close rate.
Customer Churn Rate
The customer churn rate, also known as the attrition rate, is the number of accounts that have stopped doing business with you over a period. It should be as low as possible. It is a metric to measure the quality of the relationship you have with an account. ABM is a qualitative marketing strategy. If your churn rate is high, then reevaluate your products and services and confirm that you are targeting the right accounts. Understanding your target accounts better is the easiest way to decrease your churn rate.
Content Engagement
Content management is of paramount importance while running an ABM strategy. With this KPI, you can track the engagement each piece of content brings. The pieces that don’t perform well should be scrapped or improved to better suit the needs of your target accounts. Email open and click-through rates point towards ineffective subject lines, content, and CTAs.
Form Fills
Form fills are important for collecting data that helps with nurturing and engaging leads. Track your form fills to confirm if you are gathering information effectively. Adjust your campaign if you are not getting the expected results.
Conversions during the Customer Journey
A good way to show your customers that you care about them is to give them several opportunities to buy or sign up. It's important to keep track of the conversion rate for each CTA so that you can figure out where customers are losing interest in the sales process. Having this information will help you improve the customer journey.
Phone Calls and Scheduled Demos
Keeping a record of your phone calls and scheduled demonstrations is crucial to measuring your ABM success. You are creating a personal connection while interacting with the customer so they may take you closer to converting a deal.
Conversion Rate
Every ABM strategy’s aim is to drive sales and acquire new customers. As a metric, the B2B conversion rate is important because it helps you evaluate the success of your campaign and compare your performance to the previous year.
Customer Retention
Assess the health of your accounts by measuring customer satisfaction. A Net Promoter Score (NPS) can determine how satisfied your accounts are with your product or service. You can seek their feedback and use it to create better customer experiences and, in the future, design products and services to cater to their needs so you can retain your customers.
Average Deal Size
This KPI is primarily used by sales managers to understand how well they have utilized the opportunities that have come their way. It is calculated by dividing your total monetary amount of deals by the total number of deals that were converted. It can help the sales team understand what the average deal size is that they are looking at and what they can aim for.
Popular ABM Analytics Tools
The most popular and widely used ABM analytics tools are Microsoft Excel, LeanData, Salesforce, Google Analytics, Marketo, Engagio, DemandBase, and Terminus.
How ServiceMax Saw a 300% Increase in Their Conversions Using DemandBase
Using DemandBase’s Forms solution to collect user data, AI-powered DemandBase Site Optimization for data personalization, and DemandBase Analytics to understand traffic trends, bounce rates, conversion rates, and other critical website metrics, California-based Service Execution Management company ServiceMax, witnessed a 300 percent increase in their conversions, a 70 percent decrease in bounce rates, and a 100 percent increase in page views per session.
Key Takeaways
Measuring the success of your ABM strategy is crucial to understanding the strong and weak points of your strategy. A lot of trial and error goes into creating an effective ABM strategy. Define and measure your ABM KPIs to optimize your ABM strategy for better results.
FAQ
What are the most important ABM KPIs?
Some of the most important KPIs are upper funnel metrics, customer churn rate, and conversion rate.
What are some popular ABM analytics tools?
Popular ABM analytics tools include Salesforce, Google Analytics, Marketo, Engagio, DemandBase, and Terminus.
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Buyer Intent Data
Article | September 11, 2023
Gain insights into 2023 buyer intent data trends. Explore key marketing technologies and strategies essential for businesses to enhance their ability to engage potential customers effectively.
Buyer intent data is indispensable for businesses in an increasingly fast-paced and data-centric account-based marketing (ABM) space. It serves as a compass guiding marketing and sales efforts by providing profound insights into consumer behavior and purchase intent. With this information, businesses can precisely target their targeted audiences, personalize their messages, and optimize their resource allocation, all of which result in higher conversion rates and a greater return on investment.
With rapidly changing customer behavior and evolving marketing space, buyer intent data has become the cornerstone of contemporary marketing and sales strategies. In 2023, it is set to reach new milestones, fueled by growing technological advancements and a deeper understanding of consumer behavior.
As a result, it is essential for B2B businesses and marketing teams to be aware of the emerging buyer intent data trends to adopt cutting-edge technologies and strategies that enhance their ability to understand and engage potential customers effectively.
Futuristic Buyer Intent Data Trends for 2023 and Beyond
In an era where competition is fierce and customer expectations are continually growing, harnessing the power of buyer intent data is not just advantageous; it's fundamental for achieving sustainable growth and increasing market share in the space. Furthermore, it bolsters customer engagement and loyalty by demonstrating a commitment to understanding and meeting their needs.
Businesses that embrace B2B buyer intent data gain a decisive advantage, positioning themselves as agile and customer-focused enterprises ready to thrive in the marketing domain. Consequently, staying informed about buyer intent data trends is not only a strategic advantage, it's a necessity for sustained growth and relevance.
Here are some of the latest buyer intent data trends that businesses must be aware of in 2023
AI-Powered Predictive Analytics
One of the most exciting trends in buyer intent data is the increasing role of artificial intelligence (AI) and predictive analytics. AI-powered buyer intent data tools analyze vast amounts of data to identify patterns and trends that might not be apparent to human analysts. This, coupled with predictive analysis, enables businesses to predict buyer intent more accurately.
With advanced AI algorithms, businesses are able to sift through vast datasets, recognize intricate patterns, and predict buying intent with unprecedented precision. This technological advancement enables companies to not only identify prospective customers but also create customized marketing strategies and engage them at the precise moment when they are most likely to make a purchase. In essence, AI-powered predictive analytics is elevating buyer intent data to an entirely new level, making it an invaluable asset for any forward-thinking business striving for marketing and sales excellence.
Integration of Multiple Data Sources
Buyer intent data relied on a single source of information, such as website analytics or email engagement metrics in the past. However, with increasing emphasis on understanding customer behavior, there's a growing recognition of a holistic view of buyer intent. This, in turn, is increasingly creating a need to integrate multiple data sources.
The trend of integrating multiple data sources provides a more detailed and deeper understanding of consumer behavior, thereby significantly enhancing the value of buyer intent data. Businesses can construct an extensive mosaic of each lead's digital journey by combining data from various touchpoints and channels, such as website interactions, social media engagement, email responses, and chat interactions. This multidimensional perspective provides more in-depth and accurate insights into buyer intent, allowing companies to tailor their marketing and sales strategies with unmatched precision.
Real-time Intent Monitoring
As businesses and marketers increasingly adopt advanced technologies, the days of post-event analysis are rapidly diminishing. Now, real-time monitoring of intent has become the primary focus. The strategy involves the use of innovative tracking technologies to detect and respond to buyer signals in real-time. The trend is increasingly gaining prominence as it allows businesses to respond to buyer signals as they happen.
When a potential customer exhibits strong purchasing signals, such as extended engagement with pricing pages, repeated product demo views, or initiating a live chat, real-time alerts trigger immediate action. This instantaneous response capability enables marketing and sales teams to provide highly relevant information and immediately deploy targeted messaging or offers, significantly increasing the chances of conversion.
Cross-channel Engagement
As businesses recognize the significance of engaging with leads and consumers across multiple channels, the need for innovative strategies, such as cross-channel engagement, is rapidly growing to ensure that businesses are present where their audience is, be it via email, social media, website interactions, or even chatbots.
In an era where consumers frequently switch between channels during the purchasing journey, cross-channel engagement ensures that businesses are consistently present and responsive. It improves the customer journey, enables complete data capture and analysis, and contributes to a more in-depth and accurate understanding of buyer intent. Cross-channel engagement enriches buyer intent data by providing businesses with a more detailed and real-time view of their audience's behavior and preferences, ultimately resulting in more effective marketing and sales strategies and stronger customer relationships.
Hyper-personalization
The hyper-personalization trend is ushering in a new era of consumer intent data utilization by bringing personalization to new heights. The approach utilizes the abundance of available consumer intent data and AI-driven content recommendation engines to deliver personalized experiences to individual leads and customers.
By analyzing a prospect's past actions, preferences, and interactions, businesses can create hyper-personalized content and offers that precisely align with their interests. It also optimizes time, ensuring that engagements occur exactly when a prospect has the highest possibility of converting. This level of personalization increases the chances of conversion as well as fosters a deeper connection between brands and their target audience. Hyper-personalization is not merely favoring consumer intent data; it is elevating it, enabling businesses to deliver exceptional, one-to-one experiences that boost engagement, trust, and brand loyalty.
The Bottom Line
Buyer intent data is the lifeblood of modern businesses, providing vital insights into consumer preferences and behavior. It enables companies to determine when potential consumers are prepared to buy, allowing timely and targeted marketing and sales efforts.
Staying informed about the latest buyer intent data trends enables businesses to employ cutting-edge technologies and strategies that improve their capacity to comprehend and engage potential customers. Companies can improve their techniques, enhance customer targeting, and optimize resource allocation by foreseeing and adapting to these trends. Furthermore, being aware of these trends is crucial for maintaining customer trust and compliance with evolving data privacy regulations, thereby ensuring the ethical and responsible use of data.
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