There were a lot of new concepts, trends and technologies that came among B2B sales and marketing communities. The one that captured the most attention was the re-emergence of account-based marketing being used as a viable strategy for growth. ABM is carried out by collaborating the sales and marketing teams. It can be developed and executed in many different ways and by using a number of channels. There are a lot of ways to spend the sales and marketing budget for your company.
Data Driven Approach to Account SelectionABM starts with having the totality of data on target accounts. The intelligence is shared across many organizations. Here is where data automation becomes essential. It helps with the build-out, appending, and cleansing of the target list. The sales and marketing team can implement large, named, vertical, or other company based account selection process. Market intelligence providers will help your business establish the account which helps you meet the specific goals and objectives set.
Understanding the Importance of Contact DataOrganizations are now increasing the number of resources used to vet out investments because of the evolution of B2B buying cycles. Account selection is crucial for the success of ABM. At the same time, companies need to be able to identify and connect with all buyer personas in the company. Over time, it becomes more difficult to reach potential customers. Once the account universe is established, sales and marketing can then work together to use the market intelligence and segment targeted companies and buyer personas within organizations.
Best Practices to Managing Contact and Account Data
Assess and Cleanse Existing Contact and Company DataData appending and enrichment of market intelligence of vendors has been ranked the most effective third-party source of data among B2B marketers who look outside and gather intelligence on existing and potential customers.
Continually Monitor and Optimize Data AccuracyData decay is ongoing. Organizations often cleanse their database because of the aforementioned impact on sales and marketing efforts.
- Account based marketing strategy has resurfaced as a viable growth strategy among businesses
- Automation of data assists with build-out, appending, and cleansing of the target list
- With ABM, sales and marketing teams can work together and use market intelligence and segment targeted companies