Marketers everywhere are discovering the targeting powers of the current B2B marketing trend, Account-Based Marketing (ABM). In disparity to broadly-based lead generation, even anonymous leads from key accounts can have a personalized web experience when targeted through ABM.
Account-based marketing is one of the hottest and most discussed topics in B2B marketing, still, achieving success is no slam dunk. ABM has outperformed traditional B2B marketing on just about every level, from prospecting, through engagement, conversion, cross-selling, retention, and beyond.
Many B2B demand generation practitioners have accepted ABM, but not everyone has fully understood how to execute their ABM strategies. Utilize these ABM resources to enhance your account-based marketing campaigns.
Ways in which ABM can boost your Demand Gen funnel
Like any other business, demand generation can be challenging but not impossible.
B2B companies that provide services and products can adopt numerous ABM strategies to nurture their best leads into real customers.
Here are the ways in which they can achieve this:
- Use Data to Choose Target Audience
Companies that utilize the ABM marketing strategy tend to concentrate on a smaller audience, this means that accounts are selected on the basis of data. The ABM approach encourages businesses to focus on the most promising customers. To get ideal customers who have the most viable lifetime value, companies need accurate data. This means investing time in research to generate data to facilitate the profiling of customers.
Data provides valuable insights about customer behavior, preferences, and attitudes that are useful in demand generation. According to a survey by Forrester 92% of businesses attribute their success with Account-based Marketing to better research and data. Businesses can leverage customer data to improve their demand generation campaigns by adding more personal touch.
- Leverage One-on-One Meetings
Though emails work well as communication starters, B2B companies need to take communication a step ahead with at least high-value prospects by giving them opportunities to talk about their issues and concerns in depth. At the same time, email interactions might not significantly increase the rate of closing business conversations of a company.
This is the reason why one-to-one meetings are most ideal for this kind of conversation. Research by the Harvard Business Review shows that one-to-one meetings are 34% more effective than email conversations. To stay ahead of competitors that are always ready to give customers their personal time in the form of private meetings, personal on-call conversations, or chats during trade shows, businesses should be flexible when discovering ways to slot one-on-one meetings.
- Maximize Social Media
Most companies tend to shy away from including social media in their ABM plans. However, social media can go a long way in helping businesses build meaningful relationships with prospects and make sure that their leads do not drop from the sales funnel. There are numerous ways in which companies can use social media to boost their demand generation funnel.
Social media also plays a significant role in helping companies determine whether their best leads are active or passive. If you have the best lead that has not posted anything or has a corporate blog that has not been updated for six months, the best thing to do is to drop that lead. There are different companies that B2B businesses can work with to achieve this. For instance, LinkedIn Sales Navigator can help with the discovery of new connections and targeting the potential audience in businesses.
Account-based marketing is a great marketing strategy, but it only works when a company puts in the necessary effort. The aspects discussed here play a very strategic role in helping you in achieving new heights. The best way to make this work is to recognize one or two strategies to start with then adopt the rest with time.
ABOUT THE AUTHOR
Chandrima is a Content management executive with a flair for creating high quality content irrespective of genre. She believes in crafting stories irrespective of genre and bringing them to a creative form. Prior to working for MartechCube she was a Business Analyst with Capgemini.