B2B marketers struggle with managing data efficiently, but doing so through account-based marketing (ABM) has a positive impact on their business. According to reported research, the top goal for 72 percent of B2B marketers is to improve the measurability of ROI in data management. Sixty-five percent of these professionals aim to improve data quality and 63 percent consider accessibility and usage of data a priority.
Marketers that rely on using traditional ABM tactics are limiting themselves by simply building campaigns around existing lists. The issue is that these lists tend to be static and don’t represent the fluid nature of potential prospects. List quality is the key to good ABM efforts and this means keeping an actively cleaned and updated list that is not drowning in legacy data. Smart B2B marketers are overcoming this hurdle by putting their data to work, ensuring that their ABM campaigns are reaching the right audiences.
Data should be at the heart of campaign planning to help ensure that campaigns are more effective and are more tailored to specific buyers. B2B marketers should recognize that they are targeting a number of different buyers, with different titles and needs, within the same organization and should personalize messaging accordingly.
Intent data, along with a variety of data, is the best source to enable effective ABM, because rather than presenting just a snapshot of the marketplace at one particular instance, the data is dynamic and real-time. Buyer intent helps us understand why a B2B marketer makes a decision and then applies the data associated with this purchase to “lookalike” candidates. Advances in technology, along with data-driven thinking, allows companies to harness their data and make more informed decisions that lead to greater ROI. In fact, according to Forbes, companies that excel in data-driven marketing are 6X more likely to have a competitive advantage in profitability and 5X more likely to report customer retention.
Using geo-targeting in the marketing mix is another great way to reach prospects in a specific location. Advanced pay-per-click channels have targeting tools that facilitate isolating specific characteristics of users and then target campaigns accordingly. A marketer might put more budget into regions that offer higher potential returns. Rather than targeting “California”, “New York”, “Michigan”, for instance, marketers can use the filters on PPC programs to target users based on a specific region, along with other profile characteristics.
Intent and geo data can be derived from both first-and third-party sources. Gathering data from DMPs gives marketers the keys to unlock insights about prospects and target them based on these learnings. Putting this data at the center of a B2B marketing strategy helps ensure that in-market buyers are seeing relevant messages at the ideal time. Most DMPs on the market offer simple ways to view and interpret data that can help ensure this personalization.
Data-driven marketing efforts that combine the right KPIs can produce a higher ROI. Using insights to make decisions helps marketers better understand their existing customers, and understand the actions that will likely convert potential buyers. This approach gives companies a competitive advantage, the strength to make the right decisions, while building a positive customer experience, which in turn increases retention.