The primary goal of many B2B marketing organizations is to help their sales teams win more business with new or existing accounts. This is particularly true today where sales reps feel they have lost control of their accounts due to bigger buying groups, unknown buying group members, anonymous research and restrictions on trade shows, events and in-person meetings.
For today’s B2B marketers, though, it’s become far more difficult to market the old way by generating qualified leads since the average buyer now completes up to 70% of their buyer’s journey before filling in a webform. During this time, key account buyers are researching your solutions, your competitor’s solutions and self-determining their preferred vendor—anonymously.
Adding to that challenge, there are now “silent” partners, stakeholders, and influencers who remain anonymous during the entire buying cycle, never once coming to the attention of the marketing or sales teams. These anonymous influencers directly impact sales outcomes, often lowering the chances of success when buyers complete this journey all on their own.
So, how can today’s B2B marketer turn the tables and take back control of the buying journey with key accounts? The short answer: Omnichannel Account-Based Marketing (ABM).
Modern ABM Platforms can help you select and prioritize target accounts and guide them through their buyer’s journey with omnichannel marketing. Over the last five years we’ve learned the pitfalls to avoid, whether you’re just getting started or a long-time expert in ABM.
Here’s how to ensure your marketing team has a winning ABM strategy:
#1: Select the Accounts That Count
The biggest mistake when implementing an ABM strategy is not having a firm understanding of which accounts to target with your limited marketing budget. Understanding which accounts are important to sales, which ones are in-market, where they spend their time, and where they are in the buying cycle should be your first step. This makes for a winning approach that generates the best return on marketing and sales investment.
#2: Prioritize The Accounts Most Likely To Buy
Most B2B marketers understand that waiting for key accounts to raise their hand by filling in a form is a mistake, since leaving them to perform their own research leads to missed sales opportunities. As a result, marketing teams are often keen to reach their customers early in the buying journey, often at a hefty cost. This can lead to marketing spread too wide and too thin. In one example, a customer spent over $200,000 on LinkedIn marketing between April and May of this year, reaching over a thousand individuals. However, the post campaign analysis showed that only 50 of them worked in key accounts and none of them were in an active buying cycle.
By using a modern omnichannel ABM Platform, B2B marketers can:
- Prioritize key accounts most likely to buy based on intent data
- Target most valuable accounts across marketing channels
- Accelerate sales cycles, and get bigger win rates
- Cut wastage on non-target or low priority accounts
- Increase marketing and sales ROI
#3: Unify the Account Buying Group Experience
Today’s B2B buyer is active across multiple online channels, from news publications, to Google, to email, to their socials, and even their streaming service of choice. This offers ample opportunities to reach target account buying groups
A successful ABM campaign should focus on unifying the buying group experience across each channel, working together to build consensus as the buyers move from the awareness stage to the decision phase. Without a unified front, customers will get confused about your offering, and ultimately opt for a competing product or service they better understand.
With Omnichannel ABM, marketers can standardize messaging across multiple accounts AND pull key engagement data, gaining insight into where they are in the buyer’s journey.
Omnichannel ABM allows Marketing to compound the effectiveness of their outreach, helping prospective buyers through each stage until they are ready to make contact with Sales. Having access to data across multiple digital channels gives you a true look at how buyers are engaging with the content, which in turn provides quality information for sales at the decision phase.
Interested in hearing more about ABM and Omnichannel best practices? Check out our free on-demand webinar on Omnichannel ABM!