Account-Based Marketing: The Missed Opportunity?
For years, B2B marketing tactics have focused largely on individuals, as the majority of channels such as email, phone and even events target at the individual level. However, as technologies have evolved, the idea of account-based marketing (ABM) has really drawn a great deal of appeal. After all, most B2B buying decisions happen because of a company need, and typically involve an entire team of participants in the buying process.
Unfortunately, one of the greatest assets in the demand generation technology stack has emerged as a barrier to ABM. Marketing Automation tools were fundamentally built around the concept of a contact, rather than the account. Even with the account object and account-level attributes that can be stored within Marketing Automation, marketers are fairly limited in terms of the data collection, scoring tools and segmentation options they can rely on for creating account-level campaigns.
Some recent improvements have come about to roll lead scoring up to the account level. And some marketers are using third-party providers to help with data appending to add better firmographic insights that can help with segmentation. But true account-level scoring and more complex filtering and segmentation capabilities are still lacking. Missing the ability to store and track richer, more dynamic account-level data means Marketing Automation simply isn’t the ideal solution to advance the ABM cause.
So Why the Sudden Interest in Account-Based Marketing?
For one, many of the newer more innovative marketing channels rely on ABM to make them effective. ABM can target many or all employees within a given account with personalization, display ads, product-level campaigns and field marketing events. For example, with tools like Demandbase you can target your content dynamically based on the inbound company IP address. This creates powerful messaging that is far more relevant if you know which account you are going after.
You can also dramatically reduce your display ad spending by ignoring accounts that aren’t relevant to your business. For example, if you know a prospect account uses Salesforce.com internally, you can display an ad that is relevant to that audience. While a visitor from an account using Siebel or Microsoft Dynamics CRM would not be targeted. This increases effectiveness while also reducing costs – a perfect storm of marketing effectiveness.
ABM provides an opportunity to fuel growth from marketing. According to Insightera, in a recent survey 84 percent of marketers noted that ABM provided significant benefits to retaining or expanding existing customers.
How Lattice Approaches Account-Based Marketing
As ABM grows in popularity and more and more marketers are challenged with doing more with less, it’s exciting to think about the possibilities of segmenting your customer base on any variable – social activity, technology usage, funding events, credit score, jobs data, etc. Lattice has been designed from the ground-up to allow marketers to score leads either at the account or contact level, using the same rich set of attributes. Here’s a quick look at building and fine-tuning a segment with Lattice.
If you want to learn more about our approach to ABM, contact us here.
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