There is no doubt that strong account insights form the foundation of ABM success. Having said that, do you have a dedicated budget in place for learning more about your target ABM accounts?
Account insights alleviate the biggest problem facing ABM marketers: the problem of data and insights.
According to a survey conducted among more than 300 B2B marketers worldwide, the most common challenge being faced is access to customer data and insights. Understanding the challenge faced by ABM marketers, it makes business sense to have a budget separate for account insights.
This blog will explain the benefits of budgeting for a dedicated ABM Insight Program.
Marketers are leveraging ABM to win new accounts, not grow existing relationships
The key finding from the 2018 account-based marketing census reveals that 51% of ABM marketers are leveraging ABM to win new business as opposed to 34% to grow existing accounts.
It explains the biggest challenge facing ABM marketers, of data and insights as new accounts are not known well since there is no relationship in place.
This means that having a budget for a dedicated ABM Insight program would align with the overall objective of leveraging it to win new business as opposed to growing existing accounts.
Hence, your ABM budget should have a separate budget for insights as you do not know enough about your target accounts for you to win new business.
ABM Insight Programs are essential and customised for your ABM program
An ABM Insight program is highly customised per your on-going ABM program. Your ABM program needs all the relevant insights, insights collated through simple desk research leveraging publicly available information.
For example, if you are looking for insights specific to the FMCG industry then traditional intelligence software cannot extract this level of deep insight. You need an analyst to synthesize the information and make it available in an easy to digest format.
Having a dedicated ABM Insight Program would be invaluable for your ABM campaigns for it to be more personalized; resonating with your target accounts as well as achievement of industry-specific content.
Tremendous value in learning more about your target accounts
Speak to your ABM target accounts as someone who has done their homework in understanding more about their business and the industry that they operate in. Then, you can have more meaningful conversations and impact with your accounts.
ABM is complex, but having a dedicated budget in place for your insight needs would alleviate your biggest challenge while conducting an account-based marketing program. Above all, it makes business sense to have an insight program in place that is specific to your target accounts and industries you are chasing after.