What’s the Future of Account-based Marketing?
The foundation for any successful account-based marketing program is clearly identifying the most promising target accounts. By using predictive marketing to better understand what makes an account a likely buyer, you can more effectively identify, attract and engage the right accounts. So what’s to come for the future of ABM?
(Editor’s Note: This is an excerpt from our latest ebook, The Predictive Playbook for Account-based Marketing.)
According to Nicolas Draca, Senior Director, Global Marketing Operations at LinkedIn, two
elements are necessary for effective ABM: account scoring and orchestration. Marketers need to capture contact scores at every stage of the buying journey and consolidate all relevant contact scores into an account score. In a perfect world, they would then be able to apply data and insights to offer the right content to the right person at the right time in the right channel throughout the buying journey.
However, two dominant trends in marketing make it difficult to achieve this vision: the use of marketing automation software and adherence to MQL as a key demand-waterfall metric. Because marketing automation is structured to support interactions with individuals, it can’t be used to easily roll contact scores into an account score. To complicate matters, an MQL is a contact-focused metric. Draca proposes a new metric called Marketing Qualified Account (MQA).
Marketing automation software and the MQL metric are perfectly suited to marketers practicing traditional marketing. After all, they are focused on engaging and converting contacts at the top of the funnel. But to align with their sales counterparts who are focused on accounts at the bottom of the funnel, marketers are adopting an ABM approach. And once the shortcomings of marketing automation software and the MQL metric are addressed, they can close the gap from the top to the bottom of the funnel –and throughout the buying journey.