For decades, B2B marketers have employed conventional marketing techniques to acquire new business. These techniques were based on the assumption that if companies generate more leads, then the number of customers will also be more. Although, this assumption seems to be perfectly valid, in reality it turns out to be flawed. Many businesses are not able to convert most of their leads into dollar-giving customers. This results in strenuous efforts and precious resources of their marketing teams going down the drain.
What Does It Take to Improve the Lead-to-Customer Ratio?
Companies need to focus on not only the number of leads but also on their quality, and the best way to do this is to implement Account-based Marketing (ABM) strategies. ABM strategies work very well because they target organizations and not individuals. Multiple stakeholders are involved in the B2B decision-making process. ABM calls for identifying the decision-makers in each company and target them with the right messages.
How Can Companies Make the Best Use of ABM?
They need to use a robust Customer Relationship Management (CRM) system. A good CRM system helps organizations make the best use of marketing and customer data to ensure the success of their ABM initiatives. One of the most widely used tools for carrying out ABM activities is Salesforce Marketing Cloud (SFMC). Today, we’ll see how SFMC empowers B2B organizations to achieve business success using ABM.
Salesforce – The Ideal Tool to Harness the Immense Potential of ABM
As we have seen, one of the key aspects of effectively implementing an ABM initiative is proper utilization of marketing and customer data. SFMC helps businesses to fully leverage their data to perform the following ABM tasks.
1. Zero-in on the right, high-value accounts
One of the biggest challenges in executing an ABM initiative is identifying which organizations are willing to buy; companies will not be able to target the right accounts with a high degree of efficacy, unless they understand the propensity of the accounts to make a purchase.
You can use SFMC to overcome this problem. The innovative tool comes with powerful Artificial Intelligence (AI) driven capabilities that help you utilize predictive lead scoring methodologies. These methodologies help you analyze customer data and rank each prospect based on their likelihood to buy your products.
Once you identify who is likely to become your customers, Salesforce’s AI abilities help you connect your leads to the corresponding accounts with high levels of accuracy. The novel application also allows you to define rules to target accounts, which are similar to your best customers.
2. Ensure Excellent Engagement of Your Customers
A major problem encountered by many B2B marketers is ensuring their messages are relevant to their target audiences. Companies are dynamic creatures, and their needs always keep evolving. The marketers need to keep a close eye on the developments affecting their customers.
SFMC helps B2B marketers remain on top of the latest trends and developments that are likely to affect their targeted accounts. The application can be used to analyze data pertaining to each account’s business and prevailing industry conditions. This will help you ensure the messages sent make sense to potential customers.
You can also make sure you reach out to the customer at the right time, using the right channel. Furthermore, SFMC enables you to share the right information with your sales reps and service personnel to send highly personalized e-mails to customers.
3. Personalize Interactions to Delight Potential Customers
Today’s customers are highly demanding; they expect companies to deliver personalized messages that fully resonate with the unique needs. At times, this can be difficult as marketers need to analyze various aspects to craft a perfectly personalized message.
You can overcome this problem very effectively, using SFMC. The application enables you to come up with highly personalized campaigns to display the right advertisements to your prospects at the right time, increasing the chances of their conversion into leads.
SFMC also allows you to customize buyer journeys with your customers; you can harness the data pertaining to earlier interactions and deliver to them perfectly targeted content that will delight them. You can make your content dynamic, using SFMC, to ensure excellent online experiences.
4. Measure Your Success and Get Your Next Steps Right
B2B marketers use various metrics to evaluate the efficacy of their ABM initiatives; often, this involves analyzing humungous volumes of data. This could result in delays in finding out what went right or wrong and why.
SFMC allows you to assess the efficacy of your campaigns instantly and provides the big picture of your ABM efforts. You can get real-time insights into the performance of each campaign and every channel. This allows you to make the right decisions immediately to get the best results.
You can use a highly visual, simple-to-use interface to find out how your prospective customers are moving through the buyer journey. This will go a long way in empowering you to make suitable changes to the campaigns. SFMC also enables you to track metrics pertaining to your sales funnel, very easily, in a timely manner.
As you can see, SFMC helps you make the best use of ABM to achieve business success. At Solunus, we can help you unleash the power of SFMC to come up with the winning ABM initiative. Our strong focus on understanding your specific marketing needs coupled with our unparalleled expertise of the Salesforce application will help us ensure you meet your revenue targets.
Hope you liked the post. How do you use ABM? We’d love to know.
Solunus is a dedicated Salesforce partner organization, headquartered in Dallas, Texas. Our unrelenting focus on comprehending the unique needs of our clients coupled with our unrivaled expertise of the Salesforce platform enables us to deliver the perfect solutions that create the best value for IT and business analytics firms.