Posted by BBN Central on 19th Mar 2024
ABM Readiness – Part II – Debunking ABM Myths
Account-Based Marketing (ABM) has rapidly gained traction in the B2B marketing world, promising personalized and efficient strategies to win over
READ MOREABM is essential for the alignment of sales and marketing teams
Posted by BBN Strategic Partner - Business Brainz on 10th Feb 2020
Account-Based Marketing has been one of the most preferred B2B strategies for marketers. More than 90% of marketers believe that ABM is essential for the alignment of sales and marketing teams. ABM is all about fostering a better relationship with your target accounts. And especially in this digital transformation era, it’s evident that people aren’t buying products but experiences.
As per a recent PwC survey, “73% of consumers cite customer experience as an important factor in their purchasing decisions”. This shift in consumer behavior is what B2B companies/marketers should take note of. Also, ITSMA reports that of the companies that adopted ABM in the past two years, 55% are seeing a significantly higher ROI than with traditional marketing.
Let’s find out various ways how B2B marketers can generate higher ROI through account-based experience.
1. Focus more on your target accounts
Start with identifying your target accounts. It is crucial to know who your ideal customer profile (ICP) is. Research helps identify who your ideal accounts are – from their financials to their strategic objectives and priorities. Through leveraging simple desk-based research you will be able to understand your ideal customer companies better and be more aligned with them. Target account’s acquisitions and divestitures information also play an integral part while engaging with the accounts. A clear picture of the target account’s landscape makes it easy to win.
2. Align sales and marketing activities
B2B companies are facing an increasingly complex sales cycle. One of the reasons behind this is the increasing number of decision-makers in a buying decision. It has become of utmost priority to have an aligned sales and marketing team. Meaningful sales and marketing alignment occurs when revenue growth is achieved. Focusing on customers must be a top priority. Moreover, teams must spend collaborating and sharing experiences.
3. Thrive through experience
Customers no longer make a purchase based on price. The overall customer experience is what lies beneath the purchase decision. Customers rely on both online and offline engagement with the company. Formulate strategies that help to build a strong relationship with your target accounts. This will also help to manage post-purchase customer lifecycle or retention as well as grow accounts. Besides, it is essential to realize that the ABM strategy needs to be humanistic in approach. It is no brainer that keeping account-based experience at the heart of ABM is what will help companies sail in this era of digital transformation.
About Business Brainz
Business Brainz delivers bespoke research & insight about industries, companies and executives to sales and marketing teams engaged in B2B selling and marketing. Our insight reports are a key enabler for ABM (Account-Based Marketing), Enterprise Sales and B2B Demand Generation. Contact Business Brainz
Posted by BBN Strategic Partner - Business Brainz on 10th Feb 2020
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