Core ABM
Article | June 20, 2023
In 2021, 70% of marketers reported using an account-based marketing campaign. Since 2020, their numbers have gone up by 15%. One of the reasons ABM has become so popular is that it can greatly enhance customer loyalty and revenue by tailoring the buyer's journey for unique clients. ABM tactics can further enrich an ABM strategy.
In an interview with Media 7, Tim Kopp, CEO of Terminus, talked about the account-based marketing process.
“ABM flips the traditional approach of generating leads on its head. It doesn’t adhere to the idea that a full sales funnel will create a trickle-down effect leading to high conversion rates. Instead, ABM enables marketers to refine the criteria by which they identify buyers. While marketers might not have the same amount of leads, each lead is targeted and relevant — and thus more likely to convert.”
Account-based marketing is being implemented confidently by more and more B2B marketers. It is important to find ways to amplify its impact on your revenue through accurate targeting and conversions. Let us take a look at three effective ABM tactics that can help you enhance your account-based marketing strategy.
3 Effective ABM Tactics for B2B Marketers
Improve Your ABM Funnel's Performance
Account-based marketing funnel optimization may be one of the most effective ABM tactics to grow your business.
The following techniques can help you improve your funnel’s overall performance:
Audit Your Content Smartly
Check if your content is personalized according to your target accounts' personas and industry. Does it address the specific needs and pain points of your target accounts? Your content can help you narrow down your list of ideal customers.
Make Good Use of Intent Data
Dynamic ABM targeting is essential. Based on data from your CRM and other platforms, update your list of target accounts. Make sure you have a good idea of what your target audience is looking for. Are there issues with your company, products, or services that you provide? Always use this information to improve your list.
Approach Different Markets Confidently
Run multiple account-based marketing campaigns with varying degrees of customization and investment parallelly. Choose between ABM Lite (targeting a small number of accounts), Programmatic ABM (targeting many accounts), or Strategic ABM (targeting a single account) according to your business goals.
Optimize Engaged Accounts
No two engaged accounts can be in the same sales funnel stage. So, optimizing engaged accounts can be difficult. Start by tracking click-through rates, organic website traffic, email open rates, and any other digital interactions with your brand to see how effective your ads are. Your ads must be both informative and visually appealing. Reach engaged accounts through social media, email, and other suitable channels.
Unlock Opportunities
Lead generation strategies based on advertising retargeting allow your sales team to tap into accounts that have previously interacted with your ads with renewed vigour. By working with your sales team to develop an account engagement model that defines an "engaged account," you can streamline the lead generation strategies by limiting the number of accounts that your team is required to manage.
Increase Outreach
Your target account stakeholders' employees should be the focus of your outreach efforts. Target accounts can be contacted via direct mail or in-person meetings. As a result, new pipeline opportunities are now available. You can reach a larger audience by using one-on-one C-level campaigns like phone calls and demos.
Implement Marketing Automation
Artificial intelligence (AI) marketing can help you improve your B2B account-based marketing strategy. It gives you predictive insights and makes your communication more effective.
In your account-based marketing process, marketing automation can run email campaigns that can show you how people interact with your account.
CRM data is used by AI and big data to get information about people from different platforms. This information can help you make your content unique for more ABM targeting. Account-based marketing services give you the ability to run targeted marketing campaigns at scale. As an account-based marketing service, ABM automation aims to target firms with multi-person purchasing committees extensively by utilizing individualized content and engagement to influence their purchase decisions.
The immediate impact of using marketing automation in your B2B marketing strategy is a shorter sales cycle, a free marketing team, better sales and marketing team alignment, and stronger customer retention.
You can start off by creating your ICP. After that, you can set up your target account, integrate your account-based marketing strategy with marketing automation software and your CRM. Then you can create impressive campaigns, personalize content, and offer tailored engagement to your target accounts. You can access the performance of your ABM marketing strategy using marketing automation software’s dashboard and tweak your strategy to make the most of it.
Analyze and Improve Your Strategy
B2B account-based marketing requires regular testing of your ad wording, content, design, and channel aspects to see what works and what doesn't. You can improve the efficiency of your approach by keeping tabs on key performance indicators (KPIs). Instead of abandoning a tactic because it isn't working, improve it by tweaking it. Account-based marketing approaches can succeed only if you assess how they affect your strategy and continually improve its execution.
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.”
Developing an efficient B2B marketing strategy using the ABM approach requires a great deal of trial and error. Optimize your ABM approach by defining and measuring your KPIs. This B2B ABM marketing tactic is crucial to understanding how effectively you are engaging key accounts and moving them forward in the sales funnel.
Couchbase Generated $1.5 Million in Pipeline Opportunities Using ABM
Couchbase, a NoSQL database provider for enterprises, used a data-based ABM strategy to determine the interests of their target customers. They then combined real-world behavior with system-generated social personas of their customers, which helped them generate $1.5 million in pipeline opportunities.
Conclusion
These account-based marketing tactics can help you optimize your ABM marketing strategy. Concentrating on your funnel metrics and KPI and constantly improving your strategy can help you get the best results.
FAQ
What are funnel metrics?
Velocity (time spent in days by a prospect in each stage of the funnel), conversion rates (percentage of leads that move from stage to stage in the funnel), and volume (number of leads passing through any stage of the funnel) are funnel metrics. Improving them is a great B2B ABM marketing tactic.
What are the benefits of account-based marketing automation?
ABM automation is a great account-based marketing tactic. It allows you to set up a marketing process at once and then scale it across different campaigns. With the help of automation, tasks like media buying, modeling, upselling, and ad targeting are carried out efficiently.
How can you develop an effective ABM strategy?
Start by identifying key accounts. You can then map their decision-makers, create targeted campaigns to get their engagement, decide on the best channels to approach them, execute your marketing campaigns, and finally measure the results of your ABM strategy.
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Account Based Data
Article | June 29, 2023
It’s hard to believe that a B2B marketer isn’t aware of the value of Account-Based Marketing (ABM) and has switched over as well. Being in a B2B business, if your priorities include efficacious alignment with sales, delivering higher quality and apter leads, and linking other marketing activities that hit directly to revenue, ABM is undoubtedly a practical part of your thinking. But, despite this, only because the benefits are understood doesn’t state that the process for building an ABM program always is the same.
ABM can feel daunting for several reasons, such as:
The complex task of pulling data together for target accounts
The science of profiling those accounts and categorizing audiences
The long-lasting task of personalizing content
And the effort involved in generating the momentum to make it all happen
However, it might be easy to assume that ABM is only workable for larger businesses with sophisticated analytics and resource to spare.
But the fact is ABM is already delivering value for a wide range of businesses. And those businesses find many essential ingredients for doing effective ABM. Out of which, a popular ingredient is LinkedIn.
It’s through LinkedIn tools that they are now integrating data from both sales and marketing. For example, by having LinkedIn-based marketing, they can now easily have a real-time view of accounts' engagement. It’s on LinkedIn where they find the targeting capabilities to deliver personalized content to the right target audiences. And it’s on LinkedIn where they can find the capabilities to scale ABM programs flexibly.
Footing of LinkedIn Account-Based Marketing
ABM strategy demonstrates benefits such as the ability to look at the impact of engagement in detail. It enables you to be precise about whom you are targeting and why. The more insight you can integrate while working with sales to plan an ABM program is the better.
The sources can come through various marketing automation platforms, ABM-specific tools, and ABM strategies. However, it’s unusual to spot an ABM program that doesn’t combine LinkedIn as a vital source of insight or, say, as a constant source of data collection and the crucial execution channel.
Its function across the various stages of an ABM program makes LinkedIn a worthy starting point for marketing teams to build an ABM strategy. Even if you are starting with confined in-house data, LinkedIn affords the essentials for prioritizing accounts, identifying the critical prospects to target, delivering personalized content, and tracking the impact of what you’re doing.
It’s one crucial foundation of ABM, which you can build on as you gain more insight.
What’s Inside—LinkedIn Account-Based Marketing
Many consumers decide to buy a product or service before ever encountering it personally. Of course, this also applies to B2B buying.
How is that?
People research in B2B as much as in B2C. In the age of social media, people purchase solely through research. Social media has empowered people to research more than ever before, and for B2B, this is oftentimes observed through LinkedIn.
People can research every single angle and aspect of a brand and company, from corporate social responsibility and community engagement to followers. In addition, they can research the CEO personally — what the CEO is saying, doing, and buying.
So, when people are deciding whether to buy from you, they research. The first thing they'll do is search for you through the LinkedIn profile. When people click on your LinkedIn, they’ll get a positive impression if you have positive content and recommendations and lots of positive engagement on your page.
Your content is positive and would lead when it shows long-form posts, short-form posts, videos, graphs, white papers, and figures that explain what you do, how you do it, and what you can do for people. When audiences are involving with your content, it's high time that you know what you are doing and are an expert in it.
When Media 7 interviewed Udi Ledergor, Chief Marketing Officer at Gong, he said,
“Our top channels for engaging our audience of sales professionals include our LinkedIn page, our highly engaged audience at our LinkedIn profile, and our enthusiastic list of email subscribers. To complement our digital channels, we supplement them with a good dose of content, which includes advertising, and other mediums not often used in B2B Marketing.”
Similar to this, when Media 7 interviewed Ed Breault, Chief Marketing Officer at Aprimo said,
“We are “humanizing” communications as much as possible, over the phone for voice, broadcast, media buying within different properties like LinkedIn. I think it’s a drive to strike a balance to create a complete experience for my audience. The foremost motivation to innovate should be solving a real-world problem your customers are experiencing.”
LinkedIn Account-based Marketing has created value to add for ABM strategies. However, LinkedIn targeting also plays a vital role for smaller marketing teams who have just stepped in their ABM journey and are hungry to gain meaningful insights to help plan their program.
Here are some crucial ways to use LinkedIn for targeting campaigns at the stages of executing an ABM:
Build a Personal Brand
One of the best ways to engage with essential accounts through LinkedIn Account-based Marketing is to have decision-makers as part of your existing system. If you already have a trustworthy relationship with them, they will be more probable to trust you and buy from you. You can take advantage of LinkedIn to build a personal brand, build solutions, and aware your accounts. There is no secret hack to using LinkedIn to expand your personal and company brand. Be authentic. Provide significance to your audience. Don't show up only to sell.
To build your brand, the best content type to post will solely depend on your audience. However, LinkedIn users are 10x more active in sharing videos than text-related posts. So, ensure creating your content in the format your audience wants to consume it.
Outline the Priority Accounts
You can’t stay relaxed after you assign a high-value account for your ABM program. You also need to spend time profiling the business, identifying important stakeholder audiences, and developing a plan for them.
The time you invest in understanding your top-priority accounts won’t only support sales, but you will also be creating relevant personas for your broader ABM program.
To know how to go about profiling accounts on LinkedIn, you need to know that the Buyer Circle feature within LinkedIn Sales Navigator is a perfect starting point for profiling your priority accounts. In this, you will be able to identify all of the decision-makers and influencers expected to be involved in a purchase decision.
Choose Types of Ads Ideal for LinkedIn Account-based Marketing
There remains a wide range of advertisement options similar to your target audience. Determining which ones will be the best fit according to your business can benefit your ads to land with an extra punch. Let’s understand it in detail.
Content Sponsored Ads
A sponsored content is proven to be one of the most effective ad types to engage the audience and is best considered an easy way to get started with LinkedIn account-based marketing.
In case of point, you can use an existing post on your company’s page or create a most relevant to your target audience. Content can include images, articles, videos, or presentations that win audiences’ hearts.
Likewise, carousel images are a particularly robust strategy that can help humanize your brand through your ads. With the ability to use several images that can link to multiple landing pages of the company’s website, you can share more of your company’s story.
Carousel-based ads can even boost your target audience to stop scrolling through their feed and interact with your ad directly to get in contact with your sales team.
LinkedIn Text Ad
A text ad only includes words. This means you can’t rely on fancy images to draw in leads. Instead, it’s all focused on a creative copy. Text ads can be valuable, especially because they may be cheaper than other ads, and where you can easily update the text to achieve the best ROI. So, if you are thinking of creating specific campaigns, use LinkedIn targeting options and see the results.
LinkedIn Display Ads
Right in line with LinkedIn account-based targeting, display ads let you target an extremely specified audience. In addition, with using a variety of content for your ads, like text, audio, video, or images, LinkedIn targeting becomes easier.
The benefit you get is that you can strengthen your brand and ultimately reach more professionals, decision-makers, and influencers worldwide.
LinkedIn Video Ads
Video has become a popular choice for brand content because video ads make up 35% of total online expenditure. It’s a simple yet effective way to deliver your company’s message in a creative and informative method. Luckily, you can also utilize video with your ads, as LinkedIn privileges this content format in the best ways. If nothing, begin with creating video ads on LinkedIn for targeting campaigns.
Generate Content that Works the Best
The ability to deliver customized content is the optimum truth for an ABM program—because everything pivots around it.
Personalized content is the bridge where sales meet marketing execution. If it is done right, it means that influencers and decision-makers engage with content that reflects the business’s needs and the priorities in its respective role.
Creating personalized content maximizes the engagement that it can generate. For example, in LinkedIn’s recent State of Sales survey, 87% of B2B buyers in Europe say they are more probable to consider products or services from a brand that engages them with content precisely relevant to their role.
Similarly, LinkedIn’s exceptional targeting capabilities play a prominent role in a lot of ABM strategies. LinkedIn account targeting ensures that, when you modify content to fit a priority account, you can deliver that content exclusively to that account
Keeping an attractive offer for an eBook, guide, white paper, or infographic can be perfect for drawing key prospects’ attention. It is because you never know how it might ultimately create an easy opportunity for a conversion.
How do you Now Convert Leads?
While you might upload your target list appropriately, create a captivating ad for your audience, and set up all options correctly, still you might have a remaining question in the back of your mind:
What if I don’t get conversions?
That’s the entire purpose of this, after all. You don’t want to fade off at the last step!
When lining up your ad for lead generation, you can indicate your target audience between sending them to your website’s external landing page or filling out a LinkedIn form.
While an impeccably executed landing page can convert leads, LinkedIn also might deliver different options to let them fill out a form, where their information will be swiftly and efficiently filled based on their profile. That’s what the power of LinkedIn account-based marketing is doing to other B2B business bodies.
Track Engagement for Best Results
In the last, it is an obvious step to take! The multiple benefits of tracking your engagement will be equally apparent. Tracking the results of your accounts through LinkedIn account-based marketing can aid you, and your account-based marketer to better understand who other prospects are required to be targeted within existing accounts. Also, you can track at an appropriate time, to give an extra gentle push in the funnel.
Activating real-time alerts so that your account-based marketer can get in touch with the accounts that have demonstrated interest in your business within an appropriate time frame. Doing this can help discover further opportunities that may have been missed otherwise.
Providing these alerts can enable your account-based marketer to perceive exactly when targeted accounts engage with your ads. Of course, this swells up your engagement score. From this, your team can take additional steps and use that information to determine which accounts aren’t engaging and think critically—why some offerings are working and how you can change the ads that aren’t responding.
Since every campaign is different, you will have to determine individual goals for each of the accounts. However, if your campaign is underperforming, there are steps you can always take to make improvements.
Ready to Start-up your ABM Process with LinkedIn?
Most business professionals are already strengthening LinkedIn for networking, inspiration, and knowledge sharing. So why not use the platform for everything of which it is worth able?
No other social media platforms are as specific and curated as LinkedIn. So, if you know whom you are targeting and looking for a new way to capture leads, it’s not too late to use LinkedIn Account-Based marketing techniques. Again because, people are researching you, whether you like it or not.
The great thing about LinkedIn Account-Based marketing is that you can take the bull by the horns and proactively craft your LinkedIn profile to guide their research on you. In this way, you are the one writing your narrative and deciding their opinion of you so that your social selling can take off.
Frequently Asked Questions
What are the benefits of using LinkedIn for ABM?
The benefits of using LinkedIn for ABM are generating leads, driving website traffic, multiplying ROI, creating brand awareness, showing marketing potential, and marketing functionalities, among many others.
What is the top 3 reason to use LinkedIn for ABM?
Well, several reasons are evolving each day to use LinkedIn for ABM, but the reasons actually will give you results are:
Selection of targets
To profile priority accounts
Score leads
How to use LinkedIn ABM to generate leads?
There are some steps to follow to generate leads using LinkedIn ABM. Don’t miss out on these.
Firstly, know your audience
Find them on LinkedIn
Create a list of target accounts from their LinkedIn profile
Specify your accounts
Create content through keeping accounts and their business needs
Choose your ad type and specify to your audience
Post, tag, share throughout the platform
Track your engagement
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Buyer Intent Data
Article | August 23, 2022
The Pareto Principle is introduced by an Italian economist - Vilfredo Pareto. According to this principle, for several results, 80% of the outcomes arise from 20% of the cause. Other variations of the Pareto principle states: 80% of the sales come from 20% of customers or 80% of marketing engagement comes from 20% of accounts.
Many researchers believe that ABM is a descendent of the 80/20 rule. By following this rule, businesses can spend the bulk on creating personalized marketing campaigns for the 20% of customers who spent the most on the product or services of their company.
How the Pareto Rule Brings Sales Growth?
In ABM, the Pareto principle can be used as a guide to overcoming the business growth obstacle and acquiring extremely productive business solutions. So here are a few strategies that will assist in bringing the resources and attention to the top 20% of customers.
1. Identify Best Customers
Companies might have hundreds or thousands of customers or prospect lists either from email, social media, or by the website. To ensure making a wise choice, it is a must to have a glance at the historical data of every account, then compare it with the ideal customer profile and determine which makes it to the list of the best customers. After finding the top customers for the business, assure to mark them as a top priority.
2. Locating Their Area
An important factor is to check the Point-of-Sale platform and find the area from where the highest number of best customers belongs to. It will lead to determining the most suitable sales or marketing strategies that can boost the growth of the organization.
3. Rank The Need Of Customers
After creating the list of best accounts or customers, try to dig a bit deeper and discover the want, need, or problems each customer has. If in case, the insight is not up to the mark, a company will have to form a team that can gather some information, by:
Tracking customer’s social media
Having a conversation with the customer
Purchasing Insights from vendors.
After finalizing the need list make sure to mark each with their importance and address them accordingly.
4. Offer Personalization Across Different Platform
Marketing according to the way that connects with each customer deeply without engulfing the resource and budget can be achieved by making the process as automated as possible through hiring developers. Some of how businesses can personalize their channels are:
Using images that shows the customer’s interested area
Addressing each customer by their name
Sharing related case studies with the customers
Including a personalized note
Remember to keep a track of the progress you made through these steps and modify your list and strategies based on them.
Take Away!
If used properly, the Pareto rule in account-based marketing helps a business in keeping the focus on what matters the most. It stops enterprises from multi-tasking all the time. With the help of the 80/20 rule, businesses can properly allocate time and resources to the areas that produce the best results. That being said, relocating the budget while cultivating time for referrals from the customers who generate long-term advantages is the core to sustainable growth.
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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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