The value of account-based marketing is well understood but how do you avoid typical execution challenges?
According to the Information Technology Services Marketing Association 84% of businesses using targeted account-based marketing report higher ROI when compared to broader-based marketing approaches. In fact, you could argue that ABM is really the digital transformation of marketing, using personalization and precision to target the persona and needs of the prospective customer.
In addition to increased ROI, ABM also creates significant value through the increased alignment between marketing and sales activities. Imagine an account-based marketing component that is part of a strategic account selling initiative! Marketing could personalize customer experiences according to the stakeholders and business decision makers who are part of the account plan for those sales teams. With a collaborative portal, the sales team, the ABM team and the customer intelligence group can align and sync to ensure a united front to the customer, all in the context of the customer’s experience.
Overcoming ABM Execution Challenges
While the value of ABM is clear, there may still be significant challenges for scaling its implementation.
- Alignment of ABM to drive and accelerate the sales account plan. While we all know how important it is for sales to have an account plan developed to expand the footprint inside their customer accounts, the reality is often that this plan may not provide enough intelligence about the customer to implement a substantial ABM campaign.
What if the shared portal provided a mechanism for customers to self-authenticate and to provide information about what they are trying to do as part of a workflow process? Using 360ecosystems technology, workflow can be configured for almost any type of activity, including a step-by step information gathering process required to deliver personally relevant experiences.
- Having the right content at the right time for the right person and activity. With traditional website technology it can be extremely challenging to deliver contextualized tools and content at the moment these valuable resources are required by the end user.
What if the CSS and interface details were all part of the portal framework and the content could be submitted by subject matter experts at the point of customer need and conversion? 360ecosystems enables content contribution by those closest to the subject matter and the customer. This “just-in-time” content contribution combines with agency-produced slicks to create a right now feeling for the customer, driving engagement due to its relevance for the activity and initiative. The ABM team can also curate experiences at the speed of the customer’s business without needing any technical assistance.
- Scaling the number of accounts and the number of stakeholders and influencers within the accounts. Account-based marketing targeting large enterprise accounts means that for each account there may be upwards of 20 different personas involved in any given set of ABM campaigns. Each of these personas may have different functions/activities within any of the target ABM initiatives. How would any ABM team be able to drive personalization at such a scale and level of complexity?
360ecosystems Engagement Management platform is purpose built to automatically deliver the required and relevant content to the right persona at the right time. The platforms inherent intelligence is augmented through connectors with data from the account plan posted in the CRM system and/or from data collected in the company’s customer data platform.
- Measuring engagement in real time all the time. The success or failure of an ABM initiative depends on the ability to see how engaged the target personas are with the content, promotions and sales teams almost on a daily basis. ABM and associated sales teams want to see actions taken on any given content or promotion resource so as to take immediate follow-up or further nurturing action.
360ecosystems portals include a built-in analytics suite, tracking engagement on every single asset and relationship in the system. In addition, the engagement data in the portal can be correlated and visualized through the client company’s business intelligence tool of choice.
Account-based marketing leveraging an easily configurable portal is a compelling 360ecosystems use case. Contact us for further information on how we might help you with your ABM challenges