Why Account Based Marketing is a Big Deal
Why Individual and account based marketing is taking over the B2B space.
Why is ABM a Big deal?
Business to Business marketing has taken a turn with the new AI Machine and Deep Learning technology available to marketing departments today. With the ability to resolve identities of website visitors and track behavior online, it has become easier to tailor messages to individuals. Not to mention individuals within accounts to gain attention for a product or service.
The biggest difference in marketing from just a few years ago, is that customers are much more in the know long before they connect to a product or service. They research product and services much more than they used to. Marketers now need to provide a unified message across channels and devices. This is known as Omni Channel Marketing. There is no individual channel any longer. Facebook used to be one place and twitter another and email another. They have now all integrated to a point that your customer doesn’t know that there is any difference between them.
It is no longer a “push” or “pull” style marketing where you just push it out to your customers. Campaigns have now become a relationship building exercise. It is a constant conversation that nurtures and fosters relationships between your brand and your prospects. Messaging now must be consistent in all channels so that there’s no confusion when your prospect or even current client sees your message on one device to another.
Targeting has further changed the landscape as well. AI Machine Learning and Deep Learning have entered the realm where marketing can now see much clearer where the buyer is in their value journey. This allows for a much more targeted message to be designed and delivered according to what the customer is actually looking for. Identity resolution has been paying a big part in Business 2 Business marketing as of late simply because you can now see who’s looking at what product and can tailor messaging according to where they are in that part of the journey.
So what’s the big value in this?
1. In B2B sales, there is usually more than one stake holder and that means you must be able to get the right messaging to the right people. Account Based Marketing allows for that to be designed and delivered in a manner that everyone on multiple channels receive that same message so when they discuss it, they are all talking about the same thing. This essentially shortens the sales cycle and allows for more prospects to be “processed” and gotten to the close.
2. The Return on Investment is also a big winner as you can now track much better what is being invested in marketing on different channels and what kind of corresponding returns you get from those campaigns. It cuts down waste as you can see what campaigns work a lot faster; allowing for cutting of non-performing campaigns.
Technology has enabled marketers to see further into the minds of their prospects. It has also allowed them to really design a solid flowing omni channel experience; allowing customers to be endeared to a brand, product or service much easier and faster. The result is a cohesive messaging and relationship build across multiple channels that generates better qualified sales leads, and ultimately sales. In a few cases, higher revenue sales are being realized simply because the omni channel experience bring the prospect through the buyer’s journey in a much cleaner fashion. This experience makes it, so they feel that the message is truly tailored for them.
Approximately 60% of companies are planning to launch Omni Channel Marketing campaigns in 2020. Is your company one of them? Will you take advantage of the new methodology? Or will you wait to see how well it works and miss out on the revenue available to you?
If you want to find out how to design campaigns using this for an Omni Channel campaign, feel free to reach out. Or if you want to know how to use data to drive these campaigns and increase your ROI on advertising, reach out.