Account Based Marketing (ABM) can create a better and more personalised buyer’s journey that drives significantly higher ROI compared to more traditional approaches.
But it isn’t without issues. ABM at its best happens on a 1:1 or 1:few model. It’s hard to scale effectively across a wider area, however, and marketers can often waste time on accounts that won’t convert.
The good news is such pitfalls can be avoided. Purchase intent data can be used to mitigate almost all of the drawbacks of ABM, while amplifying the benefits. Here’s how you can use it to avoid the most common ABM issues.
Sidestep ICP Accounts that Aren’t Ready to Buy
There will be plenty of accounts in your funnel that look great on paper and may even be a perfect match for your Ideal Customer Profile (ICP). But that doesn’t mean they are ready to make a purchase. In other words, superficial data doesn’t help marketers to focus their efforts.
Intent data helps by identifying the propensity of each account to buy and ranking them accordingly. Marketers can use intelligent intent data to focus their efforts and drive better results. The accounts that look great on paper but show little propensity to buy can be put on the back burner, while the accounts that are ready to find a solution right now can be given the attention they deserve.
“With intent data, you can find untapped markets full of high-intent accounts”
Use Intent to Find New Opportunities
When you run ABM campaigns, it’s easy to get hung up targeting certain sectors and industries. But what if you ran new campaigns based on companies that have the biggest propensity to buy, instead?
With intent data, you can find untapped markets full of high-intent accounts that make your job (and those of your SDRs and sales executives) much easier.
Intent data allows you to pivot your marketing efforts much faster, too. Rather than wait for feedback from sales teams, marketing departments can use intent data to optimise campaigns in real-time based on the buying propensity of new leads.
Improve Content Marketing Efforts
A core part of any ABM strategy is providing content at each stage of the B2B buying cycle. It’s not always obvious what content you should be sending each decision-maker, unless you reinforce your efforts with intent data, of course.
Intent data takes the guesswork out of content marketing by helping marketers to better understand their audiences in several ways. First, marketers can use data to gauge what stage of the funnel each account is at and, thus, what type of content is most suitable. Second, marketers can pinpoint each account’s main pain point to make sure they create content that speaks directly to their challenge.
For more information on using intent data to improve ABM efforts, speak to an EngageIQ consultant today.