Account Based Marketing (ABM) requires all B2B marketers to make adjustments to their marketing technology (MarTech) stack, in order to remain competitive or move to best-in-class.
Even though ABM vendor claims can be similar, overlapping or diametrically opposed, B2B marketers must still investigate, research and select ABM technologies that can help them achieve their ABM goals more efficiently and effectively.
According to several analysts and vendors, ABM is “everywhere and everything.” However, it’s estimated that over 70% of B2B marketers believe ABM is a term that lacks specific meaning and is not used consistently. B2B marketers need to peel back the onion to see which ABM technology is right for their organization – both from a technology and end-user experience perspective. In addition, B2B marketers should not necessarily toss out all existing technology (especially if there is a point solution providing value) with an ABM purchase. This is because there is no complete solution on the market today.
New ABM point solutions are announced every quarter. This will continue until the market reaches an inflection point on the growth curve, leading to market consolidation, i.e. mergers and acquisitions. Today, a wide range of ABM products promise specific outcomes. The key point is that while ABM technology is a good thing, the fact is that no single vendor offers a holistic solution with native capabilities superior to those of the best pure-play ABM products.
The good news is that an organization’s existing MarTech may be complementary to an ABM technology currently planned for purchase. And MarTech can also play a critical role in the desired ABM future state vis a vis ABM technologies such as:
- ABM Platforms
- Sales Enablement
- Marketing Automation Platforms
- Web Personalization
- Predictive Analytics
- Content Collaboration
- Point Solutions
- Account Intelligence
- Contact Intelligence
- Ad Targeting
These technologies are all required to build an optimal ABM solution. And since no one vendor provides a complete solution today, it’s necessary to rank and prioritize what is most important and build, execute and create value from that investment. As new technologies are available they should be incorporated, and if there are existing technologies that work, they should be embraced, not discarded.
Modifying, updating , or in some cases, replacing your MarTech stack can help integrate marketing and sales, quantify the revenue chain and marketing’s place in it.
There will always be new tools, processes and technologies available to help B2B marketers optimize and scale their approach to ABM via predictive analytics, account selection, personalization, sales enablement and activity orchestration. However, best-in-class ABM starts by sales and marketing mutually agreeing upon the objectives, strategies and tactics required success. In addition, sales and marketing must agree on how and when they will communicate with one another, diagnostic measures, corrective actions and a commitment to stick to an account-based marketing course of action.
Here are five tips to get started:
- Make sure account selection is consistent with your company’s ABM approach (few accounts or a lot, similar in nature, etc.)
- Develop account and contact intelligence for each and every account selected
- Remember that content is king and needs to be relevant for each persona and each stage Go to the full article.
Source:: Business 2 Community