Today’s buyer journey has changed drastically. Buyers are self-educating—they do their own research, and interact with brands on their own terms, making decisions about the brand before contacting a sales rep.
With great change comes great responsibility, and that responsibility has landed on marketers.
To address this shift, many marketers have taken the mass-communication approach—blasting messages on every channel to see what sticks—with only marginal success. It is getting more and more difficult to find the right audience and target them with the right message through all of the noise.
Predictive marketing, in tandem with account-based marketing (ABM), helps marketing teams be more efficient and precise with their targeting, so they can have relevant conversations with the right customers at every interaction point—not just everyone with a pulse.
In order to gain more insight into how marketers are dealing with this transition, EverString conducted a survey of B2B marketers from multiple organizations to determine the maturity of the average marketer, and who is using technologies and strategies like predictive marketing and account-based marketing today. To see all of the facts, you can download the full report.
Let’s get into some key findings about predictive marketing technology, account-based marketing strategy, and how they go hand-in-hand to help marketers meet the bottom line.
Account-Based Marketing (ABM)
What is ABM? Engagio, an ABM platform founded by Marketo’s Jon Miller, defines account based marketing as, “a strategic approach that coordinates personalized marketing and sales efforts to open doors and deepen engagement at specific accounts”. Jon Miller, CEO of Engagio, likens the concept to “fishing with spears vs. fishing with a net”— while traditional demand generation blasts out to anyone with an inbox, ABM is the harpoon that’s crafted to be attractive to target accounts.
What is predictive marketing? Predictive marketing combines your customer data with external data to create a data model that determines what your best customer looks like. It takes into account thousands of signals, from demographic attributes, to behavioral attributes, and more. Using that data model, predictive marketing provides you with net-new accounts that look like your best customers. Basically, predictive provides you with the accounts you should use for your ABM strategy.
32% of Marketers Report that They Use ABM
Account based marketing is a big area of strategic focus for B2B marketers, and one that is gaining momentum. When asked if their organizations use ABM, 32% of our respondents reported that indeed, they do use ABM. Plus, an additional 28% is currently researching ABM. The strategy is quickly catching on as a viable way to target and nurture accounts, but the concept is still fairly new.
ABM and Predictive Marketing
By combining ABM with predictive marketing, you can actually target the right accounts with much more precision. Predicative marketing is the first step to becoming an account based marketing organization. Because predictive demand generation uses data to predict the best accounts to target, your ABM efforts become much more focused and effective.
80% of Marketers that are Currently Utilizing ABM Believe That Predictive Marketing is a Critical Piece of the Future Marketing Stack
Since predictive can be such a complimentary solution to ABM, we also wanted to take a look at how those leveraging ABM are thinking about predictive marketing.
Out of the marketers who are currently utilizing ABM, 80% believe that predictive marketing is a critical piece of the future marketing stack.
Combining the two strategies can be your key to success! Particularly if your organization is moving towards becoming account-based. Are you using predictive marketing and account based marketing? Or are you thinking of using these two technologies?
To learn more about predictive and ABM be sure to download our 2015 State of Predictive Marketing Report!