80% of marketers say ABM improves customer lifetime values, while 86% say it improves win rates.
Account based marketing has been growing in popularity over the past few years. For those not yet in the know, ABM is a strategy that directs marketing resources towards engaging a specific set of target accounts (i.e. businesses). Basically, instead of spending budget on mass marketing and waiting to see what businesses engage with your activity, ABM is about identifying the organisations you want to work with and then targeting specific individuals within those businesses. As the above statistic shows, account based marketing has matured enough to show real signs of success and ROI – hence it’s growth in popularity. However, it’s perhaps not as easy as many people think, and there are many who are missing a trick.
In its simplest form, this step of an ABM campaign can be as straightforward as choosing an industry leader you wish to work with, or a business that you know is approaching the end of its contract period. However, for many marketers with experience of ABM planning, this part of the process can involve huge amounts of analysis around intent data. B2B intent data allows businesses to identify exactly if and when a B2B prospect is actively considering or looking to purchase a product or solution., often identified using analysis of a user's web search and content consumption. Bombora for example, provides marketers with insight on which companies are searching for their services, helping them target that company not only at the right time, but with a messaging strategy based on solution identification. ZoomInfo also has a feature called Scoops which are 'projects and leadership moves uncovered by our in-house research team. These "Triggering Events" help you get your foot in the door ahead of the competition.'
Despite the expertise and innovative technology that is needed to complete this step, there are still many organisations who are analysing the data out of context and ultimately wasting budget and missing key opportunities. You see, we have uncovered a disconnect between which accounts business’ think they should target vs. the reality of the best fit accounts. So, what is the best solution? Well…
Listen to Charlie
At the upcoming B2B Marketing ABM Conference on November 4-5, Really B2B’s very own Head of Planning, Charlie Nicholson will be speaking on the topic of ‘Key account selection – expectation vs. reality’. During his speaking slot, Charlie will discuss…
- How intent data can be misleading if taken out of context
- Practical tips on selecting accurate accounts to grow your business
- Pitfalls to be aware of during key account selection
So, if you want to learn more about ABM, and more importantly, how to maximise your efforts and ROI from the activity, tune in to Charlie Nicholson’s speaking slot on November 4th at 11:20am, register for free here - Key account selection - expectation vs. reality