B2B industry very well know the account based marketing (ABM) concept. ABM is no longer an untouched notion for B2B companies. It’s efficacy as a marketing strategy has observed it gain traction among businesses in recent times, and managed Demand generation companies very efficiently.
Today, in this post we will share how ABM proves an important concept for demand generation funnel. But first, let’s understand the concept of demand generation.
What is Demand Generation?
- Demand Generation is a detailed approach to the sales and marketing program that is fabricated to develop interest, indulgence in the services or products which B2B companies sell.
- Demand Generation also trigger nurturing the prospects to become customers and continuing them for the long term.
- We can consider Demand Generation conduit as a tool to measure the effectiveness and impact of the demand creation process.
The Companies who approach ABM marketing strategy lean towards smaller audience, that says, accounts are opted based on the data. The ABM approach motivates companies to eye on the most promising customers.
To obtain the list of the ideal customers, who are valuable to the company, we need precise data. Companies should invest more time in researching and getting the insights first.
The researched data will provide the clear picture about the preferences, attitudes and customer behaviour. These points are very useful in demand generation. Accurate data does half of the work.
It is the prime thing one must focus upon. After the accurate data and analysing the customer behaviour now is the time to choose the audience and target them with next step.
REASONS ABM PROVES TO BE AN IMPORTANT CONCEPT FOR DEMAND GENERATION CONDUIT
1. ABM HELPS IN PERSONALIZATION
Once you have the accounts ready distinguished after the researched database, Its time for personalization of the accounts. ABM powered by AI can help understand the customer across every funnel of demand generation.
Unfortunately, many companies find it difficult to personalize account engagement. But, ABM can help. When your customer data is first structured in a customer relationship management tool (CRM), ABM when supported by artificial intelligence (AI) can use predictive analytics to recognize highly engaged leads. ABM incorporated with AI can help to recognize and map the targeted accounts, new leads and engage them in every step of a funnel.
2. ABM IMPROVES CROSS-TEAM ALIGNMENT
Marketing, sales, and service teams often work in silos and these departments do not share any coalesce approach towards account data. And the difficulty increases for demand generation teams to take benefits of planed data to achieve the expectations of new and existing customers.
ABM resolves this problem as well. With the coalesce data and team approach, AI-powered ABM can help all department line up to deliver continuous and smooth customer engagements. Everyone has complete access to every account data and can observe the engagement tendency to identify the campaigns and content that relate with various accounts.
Teams can utilize those insights to nurture campaigns. ABM provides unified marketing, sales and service team also, offers them to make most of it. ABM proffer better engagement of the customers in every demand generation funnel.
3. ABM PROVIDES ROI CLARITY
Revenue and retention are the best way to calculate marketing ROI, every Demand generation managers knows this. The metrics for the success of marketing team is Marketing qualified leads(MQL) but ABM transforms this to new.
Through ABM, you can obtain a clear picture of the targeted audience and buyers persona. The demand generation manager can analyse and understand high-value target accounts and can determine a clear picture of marketing ROI.
With AI-powered insight a company can achieve the targets, analyse them with more accuracy and can implement the plan accordingly. The demand generation managers can adjust the KPI’s and optimize the marketing strategy based upon the insights delivered by ABM. This channelizes and eases the demand generation funnel more appropriately.
ABM is a certainly a smartest marketing strategy, but it works only if company puts the necessary effort. As seen account based marketing works wonders in demand generation process, the strategies if followed smartly can lead to personalization, team alignment and clear ROI, these three terms together form a strong pillar for the demand generation conduit.