CEO of Terminus , the true ABM platform for revenue growth.
In recent years, we've seen a huge shift in business-to-business marketing, a development accelerated by changing market conditions, buying habits and privacy regulations. Today, more and more people have the opportunity to work from anywhere. Rising inflation and a troubled economy have wreaked havoc on marketing teams that need to get the most out of every marketing dollar.
I find that buyers are hidden in the market and many customers are identified only after they have decided to buy. It's hard to connect the dots across a multitude of marketing channels, and many of the decision makers are harder to reach. I saw contacts change jobs and responses to emails and phone calls dropped. With the overwhelming noise of multiple digital channels, it can be difficult to deliver the right message at the right time.
In my experience, outdated B2B marketing tactics like spray and pray approaches are not very effective. And as budgets come under greater scrutiny, teams feel the need to use their budgets more efficiently while increasing engagement.
Finally, marketers continue to avoid third-party intervention. Although Google has postponed the extinction of third-party personalization files until 2024, we will eventually live in a world without files. Third-party data has a rapidly shrinking lifespan, so revenue managers must maintain momentum to prepare for a cookie-free future while the safety net remains in place.
I think these factors contribute to an income impact gap - the gap between current market dynamics and what traders are currently doing to bring in more income, such as: goal, etc. It's time for marketers to close this gap. Closing the gap requires a mindset shift to resist the temptation to obsess over customers and focus on the entire customer journey or flyer.
Having served B2B and B2C brands in marketing leadership roles for over 20 years, including time leading an account-based marketing platform, I understand that it won't be easy to resist the urge to focused on perspectives and self. to focus on the whole customer. . Journey. But I think a new era has arrived, one based on data-driven, account-centric experiences throughout the customer lifecycle, not just at the top of the funnel.
The renaissance of marketing as a sales engine
In my opinion, the revenue impact gap exists because many marketing strategies are simply designed for a different era. And frankly, the status quo approach is no longer good enough. Relying solely on lead-based funneling can make it difficult to bridge the gap. Target data goes no further and is not a panacea. Marketing teams should consider creating a consistent, engaging and personalized experience throughout the customer journey.
In my opinion, many brands struggle to capture the attention of the ever-elusive shopper. And more people are involved in the B2B buying process: 63% have more than four people on a buying committee, according to a Forrester report. Not to mention, Gartner predicts that by 2025, 80% of B2B interactions between buyers and suppliers will take place through digital channels.
To close the revenue gap and focus their budget on converting buyers, marketers can take a coordinated approach to balance traditional demand generation with account-based marketing. Don't overlook the lead-based funnel; It is good to have and use the bead funnel in symbiosis because they grow stronger and better by living together. Conversion rates, form completions, customer numbers and customer counts just don't go far enough. But when you incorporate it into an ABM strategy that engages customers throughout their journey, magic can happen.
Review strategies to close the gap
For years, many marketing teams have relied on the lead funnel as an inbound engine to engage customers. But it's time to expand your reach into an income flyer. The revenue stream spans the entire customer lifecycle. It not only brings new business. This allows you to target targeted accounts and cast the widest net of brand awareness or higher activity.
Whether you pulled a bill from the ATM or the search funnel, as soon as an opportunity arises, give it the special treatment it deserves. For example, marketers can use display ads and landing pages to share educational content about their products to create more awareness and move opportunities up the funnel.
Once paid for ABM, marketers can leverage deeper insights about buyers or buying committees to create tiered or persona-based ads and trigger curated content through chatbots, email, or other channels to turned these accounts into closed deals.
To further activate the flywheel, marketers must also align the entire marketing team, including sales and customer experience, with these movements. Everyone who touches a customer relationship, from first impression to promotion, must commit to an account-centric approach to growing and maintaining revenue.
Marketing can use this approach to become a growth engine by focusing on:
• Increase brand awareness with new ideal customer profiles or accounts that demonstrate engagement or intent;
• Create a pipeline and feed or redirect accounts across multiple channels;
• Accelerate workflow with deal stage development, increased purchasing committee reach and 1:1 account campaigns;
• Increase customer retention through competitive targeting and product improvements;
• Increase sales by taking advantage of up-selling and cross-selling opportunities.
Teams must personalize the B2B buying experience across multiple touchpoints, from first contact to sales opportunities. It can help them sharpen their sales engine, attract and retain more customers, focus on customer intent, and close deals.
Close the revenue impact gap by engaging your target customers throughout the customer lifecycle. Lead-driven strategies worked years ago, as did traditional marketing books. Now, marketers can follow the steps above to attract buyers at any time and increase revenue impact for a sustainable growth advantage.
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