Each year there are billions of dollars spent on marketing and brand building by big companies and their chief marketing officers. It is these investments that help the companies to have a steady flow of loyal customers which means that there will be a continuous and predictable pipeline of work for the company. As the market started evolving there was a need for marketing departments to change their approach towards the customers and it has brought a rise in the need for demand generation. Most people align demand generation with the different kinds of marketing automation options that are available today. Although it is true that marketing automation can help a great deal in the increase of demand generation for the company these companies should not be blinded by these results and not pay attention to the other options that are available to them.
Demand Generation Has Diversified
The marketing world is always evolving and the rest of the companies have to meet it at its pace. It is important now more than ever that companies are always connected to their consumers and future business prospects and this requires technology that goes far beyond what marketing automation systems can help you with. Marketing automation only provides you with basic engagement tools that help you to nurture and score email solutions that can help to convert a prospect into a sales-ready lead. A prospect is someone that consumes information at their own terms and they do not remain confined to just the company’s website, the emails that you sent or even the newest offer that you have on your landing page.
Marketing Automation Is the Start Point of a Fairly Long Race
Many companies that focus on demand generation for their marketing purposes depend on the data that they are able to derive from outbound marketing that is mainly got from a third party provider. This is a source that can help the company gain the fuel that they need for sales and marketing systems so that they are able to deliver on the mandated customer acquisition.
Most marketing automation systems are a blessing for companies that have to capture more of the inbound data prospects from websites and landing pages that they own. Most companies can also take advantage of other activities that are meant for conversion of prospect data into sales-ready leads and customers. Although this may seem enough for generating sales for the company demand generation requires much more than capturing inbound as well as outbound leads.
Multiple Adtech and Martech Providers Integration
The vendors who deal with marketing automation tools recognize the need for supplementary capability tools that the marketers can use to stay up to date with the latest in marketing however, it is very difficult for these vendors to integrate multiple products into one that can help the companies with this staggering task. However, most companies are racing to expand their platform of functions in such a way that they will be able to create an ecosystem that is able to offer an all-inclusive solution for the company’s demand generation needs. Some of the bigger names in the industry, such as Oracle, Adobe, Marketo, and Salesforce are coming together to try and provide customers with a more efficient, connected marketing platform.
What Does Demand Generation Really Need?
Life would be so much easier for everyone if all of the demand generation needs were fulfilled with the help of the company website and the landing page; however, that’s not the case. Most companies have to rely on more outbound marketing to drive traffic towards their website. All of these outbound demand generation techniques are still a manual task that drains out both your resources and your time. Most demand generation companies have realized this problem and have been able to control, optimize, and automate this process of demand generation using a few handy tips.
They identify all of the best sources of data for your company and also other providers that can help to generate prospects for your company.
They help you to streamline the demand generation process by automating, integrating, and standardizing all of the data sources for your company.
Finally, they use the data that is gathered in the above-mentioned processes to measure and also optimize the process on the basis of which source or provider delivers the best quality leads.
Successful account based marketing and how to achieve it
B2B lead generation involves a lot of account-based marketing (ABM) and is definitely a topic that has been making a lot of noise in B2B circles. ABM may include something as simple as an email drip campaign, but can also include something like sustained, comprehensive and integrated programs that will make use of multiple channels.
Any successful ABM campaign needs to have certain common characteristics to be successful. These include:
Integrity is important in order to make sure that your target contacts receive a consistent and cohesive message through multiple channels that you may choose.
Next, it is important that any communication involved in the process is segmented so that it is relevant to an individual account and decision maker/role to a maximum extent possible.
Also, the ABM has to be content-driven so that it can drive engagement and dialogue with the target contacts. The content involved should be creative and effective.
It should be of minimum but sufficient duration so that the success doesn’t depend on its timing but on its consistency and education of the targeted contacts.
If you are looking to integrate Account-Based Marketing into your demand generation mix, here are a few steps that will help you to develop and execute an ABM program successfully.
Recognize your target Accounts
You begin by identifying your targets. This can be done either through predictive modeling or sales input. Through predictive technology, you can identify the accounts that have the maximum potential of being converted, though you may also target the accounts that are just on the list.
Developing a Relevant Offer Content
Next, the important step is where you identify and develop a critical mass of relevant offer content that supports your campaign. This content is very specific and relevant to target roles, like Power User, Economic Buyer, Internal Champion, Technical Buyer, etc.
The content should be very clear and concise, and should appeal to your target.
Finalizing concrete and quantitative goals
Further, you need to establish your goals for the campaign. You will have to have a very clear idea of how you are going to measure success. What will be your key performance indicators (KPIs) and how will you measure them?
Once you have your goals identified, it becomes easy to decide on how to achieve them.
Identifying your channels and tactics
To get the desired results, you will have to identify the right channels and methods. A multi-channel, integrated approach is said to be the most effective. Below listed are the few possible channels for ABM.
Email Drip campaign that will include proactive, outbound email and direct email to the targeted contacts.
Display advertisements through ad networks to target another list of ideal contacts.
Social media advertising targeted at the specific audience. This can be done through paid advertisements on LinkedIn, Facebook, and Twitter with ‘custom audiences’ feature.
Using the paid search advertising on Google with ‘customer match’ program.
Real-time Web personalization that will deliver account-specific and industry-specific content on the main website of the advertisers or on campaign-specific landing pages.
There can be more channels of your choice and as per your need.
Relevant creative development
Once you have completed the above steps, you will now need the relevant creative implementation via the channels you have chosen.
The right sales targets and other important triggers
Next, you need to implement the right sales targets and other triggers depending on the campaign engagement or Web visits by the target accounts.
Making a campaign calendar
This is important for outlining your plan and defining what you wish to achieve and when.
The Bottom Line
Before you invest in the Account-Based marketing, you must know why you are doing so. Though ABM is a much talked about topic in B2B circles, that isn’t a good reason for you to undertake or invest in it. You must, first, understand how it works.
ABM can play a vital role in driving opportunities at high-value accounts. If you are targeting a cohesive, integrated demand generation mix that strikes a balance between the inbound and outbound tactic, ABM can be of a great help.