25th Feb, 2021
, , Designation
- Enterprise adoption of ABM techniques is projected to grow in the coming years.
- However, enterprises need to provide future-ready support to their ABM strategy with intelligent support system
- Here are some intelligent pieces that enterprises need to wrench in their ABM strategy
The core principle In Account Based Marketing (ABM) revolves around productizing marketing operations around the strategic business needs of key targeted accounts. For sellers and marketers, ABM is about leveraging data intelligence and making the operations more relevant for target audience. This advantage enables Marketers to pivot their attention towards making their campaigns more dynamic, personalized, and targeted. However, enterprises should explore some key factors to ensure that their ABM strategy lives up to the promise.
Techniques for outgrowing the persona framework and scaling the ABM performance
ABM is the new buzzword in the B2B marketing world. Here are five areas that marketers should focus on for making the most out of their ABM approach:
#1 ABM strategies integrated with market insights
In an aggressive market space, market insights are critical for more effective marketing and selling. Enterprises need to tweak their persona framework according to the market insights. Market intelligence enables organisations to look under the hood for developing relevant & engaging content. B2B marketers who want to take their ABM to the next level, need to gather granular insights about buyer’s personas- like their behaviour, needs, etc.
#2 Harness the power of Whitespace Discovery in ABM
Marketers should do in-depth profiling of prospect accounts and utilise whitespace discovery for refining the data and filling gaps it. By leveraging whitespace discovery techniques, they can clearly identify & target the potential prospects, weed errors out, and avoid multiple sources of truth in the database.
This unique advantage enables marketers to identify upsell and cross-sell opportunities, and aids organisations in making better decisions.
#3 Analytics for measurable success
Marketers need to consistently measure engagement, by looking at the total revenue, deal size, sales cycle length, etc., and find areas of improvement. Analysis of long-term impact metrics and mid-term output metrics maximizes the ability to execute highly targeted ABM programs with better accuracy. B2B marketers should monitor post-sale and pre-sale metrics to track customer satisfaction and program results.
#4 Understand that personas change, or they might not even exist
Marketing masterminds know that conventional persona thinking limits progress. Every vendor’s ABM strategy need to be accommodated with the changing intersections in customer mindset. Engagement evidence needs to be prioritized for supporting marketers in enabling a simple route-map to success. They need to curate solutions that go hand-in-hand with the changing personas and prevailing market trends.
#5 Streamline the sales funnel from start to end
B2B marketers face challenges with their conversions all the way down the pipeline. This problem quadruples for marketers who introduce an entirely new concept get lost in the dynamism of their industry. Therefore, marketing teams should optimize their ABM performance holistically, across different channels to create a seamless sales funnel.
Read other relevant blogs:
- 5 ways to fine-tune the enterprise customer database for sale success
- Whitespace discovery: improving lead generation exponentially
ABM is dynamic. Progressive organizations are formulating their own ABM methodologies for meaningful engagement. However, an ABM strategy needs to be factored with the right levers for success. ABM methodology needs to be integrated with whitespace discovery, depth profiling, and several other technologies for a positive business outcome.
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