Achieve Beyond Marketing: Making the Pillars of ABM Stronger
The Three Pillars
Account Based- Marketing (ABM) is not just another marketing tactic. It’s a strategic approach which requires businesses to bring in a mind shift aligning all departments to work in collaboration. This is where businesses struggle with while establishing a proactive account based strategy.
Next, comes Data.
Marketers are always on the look-out for data required to cater to the dynamic needs, expectations, and experiences of their customers. For most B2B businesses maintaining high quality of customer data is one of the top most challenges.
Today sources of rich customer data are widely available to marketers along a wide range of emerging technologies, to capture this data and further validate it into actionable insights. Hence your ABM strategy requires you to hold all strings together – Data, Technology, and Processes. While technology and processes can be tried and tested, the data you capture needs to be accurate.
Blog: 5 Crucial Steps for B2B Marketers prior defining a Customer Database Strategy
Pillar One: Process
There are no defined rules to sync all departments towards one mission. However here are few practices which can help you align marketing, sales, and other departments together.
- Allow access to reporting tools both to sales and marketing to assess and review performance outcomes
- Allow marketing teams to arm sales teams with as much intelligence- customer, engagement, account and so on
- Ask IT departments to maintain a transparent database strategy
- Facilitate regular meetings including all departments- Sales, Marketing, IT, Finance, and other related departments
Pillar Two: Data
ABM campaigns start from a list. These lists are customer records- Custom lists created based on the type of audience. A general list contains Name, Email, Phone, mailing addresses and so on of targeted customers/accounts.
Data captured is converted not only into targeted lists but also into single customer profiles allowing marketers to personalize and produce relevant campaigns.
This data is validated thoroughly post bringing it into action. Improving data quality is essential for high performance and revenue. Hence marketers should keep analyzing the condition of marketing database at regular intervals.
Pillar Three: Technology
It’s probably one of the best eras in Marketing. Technology is at its peak and its evolving every single day. In ABM several tools and technology are currently used which can be categorized under the following:
Analytics and Reporting
Insight and Intelligence
Data and Augmentation
Digital Media Advertising
Market Automation
It is crucial for a marketer today to leverage the right mix of technology and tools. ABM as a strategy demands the same. It’s not necessary to use every technology but it’s essential to choose the right one.
To achieve success with your ABM strategy it is important that your marketing database strategy is stable and ongoing. Cleaning data is not enough. To develop data further businesses need to profile, append and enrich customer data. More than 68% of B2B businesses today rely on database vendors for addressing their data management and maintenance issues. Thereby with data being a crucial element of ABM, choose a data partner that not only provides contact lists but also specializes in data-driven multichannel marketing.
About Us
Lake B2B has been at the forefront of data management services, list solutions, and customer data insights. We provide data centric solutions to a wide range of business-to-business companies. Our focus over the years has been on improving the efficiency of marketing campaigns, driving more revenue, and increasing the profitability of sales and marketing teams in organizations.
Lake B2B is a leading provider of Database Services. We provide marketing databases along with strategic, analytical and operational support to cater to your business requirements and enable you to become customer-centric. Specialized in providing custom-lists, we provide scalable and flexible data and marketing solutions that resonate with your evolving marketing needs.
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Tell us are you tracking customer data on social platforms and leveraging it in your multichannel marketing campaigns? If yes tell us how?
