Account based marketing has always been a darling to many businesses. This takes efforts and time but provides a greater result. If we talk specifically about this pandemic period, many companies are struggling to re-establish their business. In the ABM world, many B2B giants are proceeding with smart moves.
We know Demandbase, a titan lead generation company acquired Engagio. Triblio is acquired by IDG. These acquisitions have shaken the B2B market. In one of the interviews Tribilo’s CEO, Andre Yee, said “Right off the bat it offers better targeting, and if ABM is about anything, it’s about better targeting.” ABM is about quality leads and engaging active buyers. The obsolete methods of Lead generation are transforming. Now you cannot solve demand generation problems with quantity leads. You should search for quality leads and active buyers. Mr. Yee added if you can discover the perspective of the buyers and engage them in all funnel steps you are utilizing the ABM strengths perfectly.
Demandbase CEO, Gabe Rogol, he too agreed that COVID is pacing the demise of old methods of lead generation. As we know, much of the work is handled remotely due to this pandemic, it is a need of an hour to develop and restructure the lead generation process.
Must Read: Account based marketing in tactics in 2023
In the interviews conducted by many business channels and marketing magazines, Rogol said, In this pandemic, they experienced a good tailwind in the initial days of COVID. As we know our clients could not attend events anymore and a lot of money was invested in events and field marketing. Now, what can be done to outreach our customers? The answer got is ‘Advertise’. For this, they spent months structuring the advertising plan for this COVID.
Mr. Yee shared the same experience: when people came to know, they cannot attend the events and gather for any seminars, the budget for in-person shifted to online sfratrategies, and if you are a B2B marketer it is certainly for an Account Based Marketing.
Source: MarTech Today
The big tycoons are agreeing to the power of ABM and it can be a game-changer. It is just about plan, period, and result. ABM is about #Smarketing
Based on this Let’s Know Some Strong Account Based Marketing Facts.
Credit – Hubspot
Owing to this, Account-Based Marketing is the new trend, when it comes to B2B marketing. Below mentioned are the hot points which are reshaping the market and changing the game of the lead generation in a very powerful way.
1. Competition and Technology
ABM is not new to the market but its implementation may be: You identify the prospects, with whom you are planning to do business and later you do absolute targeting based upon sales and marketing efforts and activities. The traction to these approaches is due to 2 vital factors- competition and technology.
Competition in the B2B field is accelerated significantly with the rapid growth of companies presenting solutions and offering better services. This has made them to follow and catch the quality leads instead of quantity. The noise for the brands is increasing due to the ABM approach.
The advancement in technology has enabled them to do the process of a B2B lead generation more efficiently. Over recent years, due to evolvement of tools and platforms, it offers all companies to implement ABM method and delivers the tailored activities to the huge account numbers
The amalgamation of Marketing and technology has uplifted the ABM and presented it as a go-to strategy for many businesses in the B2B field. Read this insightful article about account based marketing framework.
2. Flip the Funnel
The funnel for the leads is flipped. Now, we have the narrower opening on the top letting in the quality and highly qualified leads (Sales qualified or Marketing qualified) slip into. According to the study of Forrester Research, only 1% of leads effectively turn into revenue-generating customers. Hence ABM focuses on the actual leads and set up a business with those accounts. ABM saves our time and resources, it concentrates only upon qualified and desirable prospects, that can turn into customers.
3. Firmographics and Technographic
The ABM approach is with the extensive analysis of data. It utilizes Firmographics and technographics. The companies having a presence in the mature market apply firmographic and technographic in their selling process. This saves their time and effort because they don’t even try to sell a product in a particular situation. If there is a model constructed to eliminate unsellable demand is great for them.
ABM today is directly connected and concerned with the availability of the marketing tools like, Engagio, Marketo, Salesforce, Terminus and Outreach, and now making it an affordable option.
Automation allows marketers to:
- Score Leads
- Identify valued customers
- Nurture and build relationships
- Deliver and optimize targeted content
These tools do the best customization, personalization, earlier this was the job of the best salesperson on call, in meeting or while making proposals. The more relevancy to your message the more accurate you hit the targets. Although, for these earlier, we had manual data and manual predictions. Automation has relieved us with precise predictions based on the data we had. MarketingSherpa, a research firm revealed, nearly 82% of the prospects like the content from their work industries.
Must Read: Different types of Account Based Marketing
5. Team Collaboration
ABM fades the boundaries between internal teams. It brings the marketing and sales team together to get the analyzed result. The percentage increase is observed in the revenue when the sales and marketing team collaborates. Implanting an ABM strategy requires an outlook and free mindset which will easily and positively accept the change in the work. The marketers claimed that they observed an increase in ROI compared to other marketing tactics. Read this insightful article about measuring the ROI of your account based marketing strategies.
Many B2B tycoons are adopting and investing in ABM. Owing to this pandemic situation, many customers are avoiding gatherings and focusing on online strategies. Based on the numbers, we can say, Account-Based Marketing is definitely having a brighter future and is already in the process of changing the world. It is the right time to jump into an ABM game but before analyze your business situation and goals.
Vikas Bhatt is the Co-Founder of ONLY B2B, a premium B2B lead generation company that specializes in helping businesses achieve their growth objectives through targeted marketing & sales campaigns. With 10+ years of experience in the industry, Vikas has a deep understanding of the challenges faced by businesses today and has developed a unique approach to lead generation that has helped clients across a range of industries around the globe. As a thought leader in the B2B marketing community, ONLY B2B specializes in demand generation, content syndication, database services and more.