What is the next evolution of Account Based Marketing?
ABM has gained much traction in the past few years and marketers have developed the kinds of best practices around ABM to make it one of the fastest growing innovations in the B2B mix. But what’s next?
The business world has changed since the pandemic and B2B marketing has had to pivot, transform and evolve with a digital first focus. As Jon Miller, CMO at Demandbase (client) has said, “It’s time for the next evolution in B2B go to market strategies. We can’t keep doing the same things and expect different results.”
Customer expectations and preferences have changed as well – not just during the buying journey, but across the entire customer lifecycle. It is with those changes that we can see new opportunities in B2B marketing. So, what do those new opportunities look like?
Imagine taking the best practices of ABM and applying them across the customer lifecycle to provide data informed marketing experiences for customers. That’s where Account Based Experiences (ABX) comes in to play. Here’s a bit more on ABX from Jon Miller:
“In many ways, Account Based Experience (ABX) is the next generation of Account Based Marketing. ABX is a fundamental customer centric rethinking of an account based go-to-market. One that combines that cool engageability of inbound marketing with the precision targeting of account based marketing. By doing this, ABX enhances every aspect of the buyers experience throughout the B2B lifecycle. It’s time for the next evolution in B2B go to market strategies. We can’t keep doing the same things and expect different results. Fortunately, this new model, new processes and new technology driven by AI and big data have emerged to show there is a better way.”
Jon Miller @jonmiller
CMO at Demandbase
To explore more about the topic of what’s next in ABM here are what some of the top B2B marketing pros have to say about the intersection of ABM and B2B customer experience:
“As audiences have become more savvy, diverse, and informed, executives want more than to be talked to – they want an experience that feels both personal and authentic. When we tie in the relevant insights that a customer cares most about, we can create the most impactful, relevant and memorable experiences. There is a strong correlation between CX and repurchasing, so an investment in insight to create relevant and impactful CX across the lifecycle of a customer will not only help sales close larger deals faster, but data suggest it also helps drive the most significant increase in long-term loyalty, which results in future repurchasing.
Research shows that a modest improvement in CX (of a typical $1 billion software company) is expected to add an additional $1 billion in revenue over three years.
Remember, ABM is a marathon, not a sprint. Actionable insight coupled with world-class CX will drive your bottom line and keep you in the race.”
Gemma Davies @gdavies2
Senior Director of Global ABM & CXO at ServiceNow
“Questions about the potential of data-driven marketing, the importance of full lifecycle marketing, and the role of ABM in overall B2B strategy are nothing new; we’ve asked them for decades. And the core principles of ABM haven’t changed since the early 2000s: Use deep client insight to generate relevant, compelling, and personalized messaging, experiences, and solutions that drive shared strategic value. The context has obviously changed dramatically, though, since we’re now swimming (or drowning!) in data and have powerful new tools to help find the essential signals in extremely noisy environments. So the big challenge now is investing enough to harness the data in the right ways while maintaining enough focus on the creative personalization and collaboration that truly stand out. The search for the perfect blend of art and science continues!”
Rob Leavitt @robleavitt
SVP Consulting at ITSMA
“I think—or hope–ABM will prompt a shift in thinking Colombia Phone Numbers List from marketing motions to community-building. The promise of better data is to create that Netflix-like experience customers have come to expect and enjoy from services they subscribe to. But that’s the trick; in order for marketers to accord with GDPR, customers must opt in, and when they don’t, that Netflix-like experience eludes us. So we must offer them so much value that they elect to join a community. Community-building is quite a different enterprise from pushing content to marketable contacts, and the good news is that it benefits marketers and target audiences equally well.”
Stephanie Losee @slosee
Global Head of Content, ABM at Autodesk
“With the growing demand for privacy and depreciation of third-party cookies by 2022, B2B marketers need to figure out new ways of managing behavior-based audiences and retargeting campaigns that do not rely on browser cookies. For example:
Intent data using keywords and context will continue to gain importance in