How well do your major accounts really know you?
Recently, a marketing executive at a leading chemicals company told me he didn’t think he would use account-based marketing for his major accounts because his sales teams were “already all over them.” He explained that most of his major accounts have been buying from his company for decades and that targeting these accounts with account-based ads would be a waste. He felt account-based marketing is best for breaking into new accounts. So I asked, “Why did you lose some of those deals with your major accounts last quarter?” He explained that they only lost on price.
I hear this often enough when speaking to sales and marketing leaders at manufacturing companies, but the world of B2B buying has changed. Research from Gartner to Harvard Business Review shows the number of decision-makers involved in B2B buying decisions is growing. How can sales reps keep up with the growing list of stakeholders in their target accounts? Marketers are also feeling powerless because anonymous stakeholders at target accounts no longer fill out web forms to access research materials (and make themselves known).
Deals are only lost on price when the buying committee decides you are a commodity. Forward-thinking companies are leveraging account-based advertising to take back control of the buying cycle. They have found a new way to provide commercial insight and build consensus with known and anonymous stakeholders in their major accounts.