A key component about ABM is about knowing your target accounts better so that you can treat each and every different account as a market in itself, and approach each one in a highly personalised fashion.
Account Based Marketing Insight or ABM Insight satisfies the data and insight requirement you need to make your Account Based Marketing program successful.
According to Forrester Research, the primary question you should be asking before venturing into ABM is “What new data will I need to make ABM successful?”
Obtaining refined, up-to-date data that is stored in a structured manner would answer the most important question you should be asking before diving into ABM.
An Account Based Marketing Insight program, which supports your overall Account Based Marketing initiatives needs to be up-to-date, refined and structured, as well as backed up by a strategy in place. There are 4 Essentials to Account Based Marketing Insight which need to be satisfied at the early stage of the Account Based Marketing process:
Firmographic and Technographic Data
Firmographic and Technographic data about your target account forms the foundation of your Account Based Marketing Insight strategy. Firmographic data such as the size of the company, financial performance and their position in the market place helps you understand the overview your target account. Technographic data such as the technology stack and landscape, which are critical insights, helpful especially if you are a SaaS company.
Key Executive Insight of your target ABM Account
The Key Executives of your target ABM Account need to be monitored. For example, the Key Executives’ participation at events as well as what they say at the events are publicly available information that enriches your targeted marketing initiatives. There are a set of decision makers and decision influencers who would surely have been interviewed by media. The outlook from executives about their company would highlight their business priorities and sometimes key challenges that they’re facing.
Insight on the Industry that your ABM Account operates in
Insight on the Industry provides an overview of the challenges, trends and drivers fuels thoughtful, value adding and educational communications. Through a deep, demonstrable understanding of accounts, companies can achieve high levels of personalization at every touch point. In addition, Industry specific and customized communications can be fueled by Strategic Insight which is highly personalized and account-specific. Also, a sound understanding of industry is of great help to enable the marketing team publish content that are industry specific and highly engaging at the same time.
Structured information sources and process
There is no doubt about the abundance of relevant information available to you at the comfort of your office chair. Creating a structured process in place to gather the relevant information and to turn the abundance into insight would be invaluable for any organisation adopting an Account Based approach to Sales and Marketing.
Data is critical for success of any ABM program and a desk based research process in place would indefinitely satisfy that critical requirement.
Conclusion
The 4 Essentials to Account Based Marketing Insight are Firmographic and Technographic data, Key Executive Insight and Industry Insight backed up by structured information sources and process will ensure the effectiveness of your Account Based Marketing program. Above all, the 4 Essential aspects of ABM Insight if satisfied well and done correctly, will lead to the success of your ABM program.