Before, ABM was an extremely high-cost endeavor that represented a significant drain on budget and human resources. Creating segmented #marketing tracks, surfacing personalized content, and reacting to individual prospect’s behaviors was all done manually and could only be supported for a small subsection of highly strategic, tier 1 accounts.
But the the ability to access and make sense of new data sources and automate key marketing activities has made ABM a strategy that is implementable across the full spectrum of a company’s target market. Below, we’ll explore how three major technology trends have made ABM execution more efficient and scalable:
Over the past decade, an increasing amount of content about B2B products has become available online. Increasing inbound marketing efforts have accelerated a buyer’s access to product specifications, deployment plans, and user reviews. At the same time, a significant amount of research by B2B buyers is being done through publisher sites, buying guide portals, technical comparison sites, social sites, and a vendor’s own website. This data explosion has created a treasure trove of digital footprints left behind by potential customers engaging with content and has allowed companies to gain visibility into the buying behaviors of target accounts. ABM strategies are built on a company’s very ability to build target account lists based on the business needs and challenges they are uniquely positioned to address, so this new access to buyer activity and data allows marketers to identify more accounts with greater precision.
According to ITSMA, 85% of marketers feel that understanding their buyers is their primary responsibility. Big data analytics can help marketers achieve this goal. For every piece of digital information that is predictive of buying intent, there are hundreds of data points that are just noise. Advancements in technology now allow for the efficient analysis of a great volume, variety, and velocity of information generated from online and offline interactions. This development has made it possible to glean valuable and actionable insights for B2B marketing and #sales teams from mountains of data that indicate whether an account has a need and is in the market to buy your product.
There’s a lot of talk around account-based marketing (ABM) in the B2B marketing realm and for good reason. ABM is an effective account-centric approach that targets high-yield accounts, and while it’s not a new concept (it’s a practice followed since the 1990s), it’s receiving renewed interest among B2B marketers due to technology trends that are digitizing the execution of ABM strategy.
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