Like anything that operates within a system, account based marketing has clear steps. And it doesn’t necessarily end with media. Media -or to put a fine point on it- display advertising is a powerful tool to identify and initiate engagement with your prospects. But marketing and sales teams need insight, powered by data, to drive revenue. Account based marketing, especially backed with deep data and insights can drive the ROI they require.
The main phases of account based marketing are:
- Audience Definition: Your Account list is an essential place to being. But it doesn’t end there. Data-driven insight can enhance your target account lists, prioritizing an existing list and supplementing it with previously unknown accounts that are ‘surging’ on topics related to your products.
- Content & Message: Don’t simply create the content that you think your prospects want. Create the content they need. A data-driven approach identifies the topics your target accounts are most interested in, so you can both create content on the topics they’re researching and inform your sales messaging.
- Campaign Activation: Once you have identified yourideal targets and created content that is hyper-relevant, you need to create a media campaign employing impactful formats (display, video) across the sites where your prospects are actively conducting their research.
The most powerful ABM solutions will use data and insights to drive the first three steps. But pushing your prospect to conversion requires some concerted work on your part. An data-driven account based marketing solution will give you the insights you need to help this happen. Here’s the next two steps:
- Marketing Automation: The B2B sales is generally an extended process requiring iterative nurturing –at the account level—to influence the entire account. In other words, Campaign Activation is not the last step in your quest for revenue. Once your account based marketing program engages your target accounts, you must continue to nurture them, before trying to call them.
- CRM & Sales: For Marketing and sales to be truly aligned, sales teams need more insights to a) help them formulate the most effective sales tactics, and b) validate that the marketing programs are not only reaching the right accounts, but also helping drive engagement with those accounts.
Rich data will help you be the most effective with Marketing Automation, CRM and Sales tactics.
The ubiquity of data has changed how we think and go about everything we do today. Historically, Sales has been responsible for driving the definition of named account lists, while Marketing has been responsible for filling the pipeline from those lists.
But using a data-driven approach can help sales and marketing be more effective at identifying the right accounts to engage with, and the messaging that will best engage those accounts.
Collaboration Between Marketing & Sales
This new era of data gives sales direct access to the insights they need to better do their jobs. Marketing can pass this information along, but nothing is as effective as direct collaboration. Physical meetings between the two teams allow for an open discussion about the surging accounts and topics only reinforce your ABM programs.
Discussions of surging topics help sales teams understand how to craft messaging for each account. What’s more, these conversations are invaluable for marketers, giving them direct feedback about what’s happening and how the data and insights are being used.
To move from the digital realm to the physical usually involves a change in culture, which is not always easy. But the fact that it’s a data-driven strategy makes it a more insightful and critical part of the process.
This post was excerpted from the Madison Logic’s ABM Playbook. Download it here.