Account-based marketing (ABM) strategies are yielding tremendous value for many B2B marketing teams. According to research conducted by the ITSMA and ABM Leadership Alliance, 87% of marketers agree the approach delivers a better return on investment. Despite its success, there are still challenges to overcome. ABM is a focused way to reach targeted accounts with specific tailored campaigns and messaging. And it’s this personalisation element that presents one of the challenges. You already have defined your key accounts but personalisation is about more than knowing the name of the organisation or the CFO.
True personalisation extends to knowing what they are researching, and hence understanding their priorities, plus identifying where they are looking and, most importantly, where in the buying journey they actually are.The content and collateral you need to target a potential buyer in the research phase is far different to your messaging for a prospect who is about to push go. As a result, you need to consider ways to identify which stage of the buying journey your prospects are in before being able to precisely target them. Consider that out of your total addressable market, only 2-5% of them are ready to buy at any given time.
And it’s here that behaviour-based marketing (BBM) can add significant value to your ABM efforts. BBM is a qualitative approach that uses buying intent or buying signals to allow you to properly target that elusive 2-5% of your market. In this way you can identify better quality leads, improve conversion rates and ultimately boost sales revenue.
By incorporating BBM into your approach, you’re strengthening ABM campaigns and focusing your resources more effectively. In essence, you’re spending the majority of your time and effort on that small proportion of your target market that is ready to buy.
Just consider that in most traditional marketing campaigns (think mass marketing, expensive spray and pray scenarios) sales conversions are less than 1%. With ABM underpinned by BBM and the associated buying signal data, you could achieve a 300% increase in high-quality leads all while using far less budget and resources.
For marketers this means realising a tremendous return on investment and partnering to provide quality leads to the sales department. For the CMO, this means launching far more successful ABM campaigns than ever before, elevating the role of the marketing department as a function, and adding commercial (and strategic) value to the business as a whole.
Are you ready to realise the power that BBM can bring to your ABM campaigns? Get in touch with us to find out how.
Register for our webinar ‘How to Fuel your Account Based Marketing with Buyer Intent’ Webinar where Jon Clarke, CEO of Cyance will be joined by guest speaker Nicky Briggs, Research Director, ABM at Sirius Decisions to discuss how businesses can activate buyer intent data into ABM and Demand Gen campaigns!