As a strategy, account based marketing (or ABM) is instrumental to driving measurable growth. And the world of ABM continues to evolve. A LinkedIn survey found that 56% of 800 B2B marketers across the globe use ABM in their business operations, with over 80% planning to boost their budget the next year. This hardly comes as a surprise considering 87% of marketers confirmed that this channel outperforms all other marketing investments.
The next iteration of ABM is account based experiences (or ABX), and it is fast gaining traction. While in ABM the focus is on marketing, ABX brings together sales, marketing and all other customer-facing teams to prioritise customer experience – which 84% of surveyed customers feel is as valuable as a company’s products and services. ABX is not restricted to leads, and relies on accurate data to inform customer-facing activities throughout the customer lifecycle. With ABX, every experience matters.
Driving Meaningful Engagement
Used well, accurate intent data can effectively fuel an ABX campaign. It does this by identifying ideal customer profiles and providing valuable insights into account behaviour – such as where it is in the buying journey or whether it is showing the signals of being ready to buy.
Instead of executing a generic campaign, your sales and marketing teams can use this insight to drive meaningful engagement in the form of bespoke content or messaging, or value propositions.
Post-sales, intent signals during onboarding and the early stages of an account can reveal untapped markets, or develop opportunities, or connect you with new stakeholders and partners. And understanding why existing accounts exhibit buying intent or re-enter a buying cycle can help secure renewals and reduce churn risk.
Transforming ABM into ABX
A recent study found that 57% of customers stop buying from a company because a competitor offered a better experience, while 67% are happy to pay more for a positive, meaningful buyer-seller relationship.
What this means is that ABX is not a buzzword – it is a data-driven strategy with a holistic approach that reduces waste and increases your pipeline, upsell and renewal rate, while bringing swift revenue gains.
These findings – as well as what we are seeing with our own case studies – point to a growing trend between buyers and sellers which explains why ABM is transforming into ABX. No matter what, experience impacts the bottom line.
To find out more about Cyance’s unique approach to intent data, please contact us or book a demo.