Research according to the Cambridge Dictionary is a “detailed study of a subject, especially in order to discover (new) information or reach a (new) understanding”. In Account Based Marketing, there are two types of research a “traditional approach” and a “data-driven approach” to Account Based Marketing. In this article, I am going to explore why traditional research is important for your ABM program.
Research is of paramount significance particularly at the early stages of any Account Based Marketing program. This statement is supported by Patrice Greene, President and Co-founder at Inverta:
“ABM is all about understating your target audience and you can’t do that without investing some form of research – be that traditional research or more data-driven approaches to delivering insight.”
The importance of investing in research is implied by the importance of organizations resolving their understanding of where Account Based Marketing fits in their overall business objectives.
An Account Based Marketing Insight program supported by data-driven approach to research will yield positive results if done correctly.
Traditional research helps organisations achieve higher personalisation levels
According to the Demand Gen Report,
While 35% of respondents to Demand Gen Report’s 2017 ABM Benchmark Survey noted that they are doing personalized/custom messaging for each account, they are still challenged with delivering that level of personalization to every stakeholder within an account.
Traditional research is of monolithic importance in terms of delivering personalisation to accounts, and with organizations facing difficulty in delivering personalization, traditional research can be the answer to solving problems that companies face to achieve higher personalisation levels.
Organisations’ requirement of deep account and industry knowledge fulfilled through traditional research
Traditional research, especially about each of the high priority target accounts can help in the attainment of a high level of personalisation across all accounts. Account and industry knowledge equips sales and marketing teams with specific knowledge about the industry and accounts that the need to know.
Traditional research aligns Sales and Marketing together
Sales and Marketing alignment is brought about by traditional research. Traditional research clarifies the attributes of companies that Sales and Marketing teams are focusing on selling into. The integration of Sales and Marketing is also brought about by traditional research, if both teams are looking at the same information then there is unity brought about in terms of level of data and insight.
Conclusion
Traditional research can assist companies in solving their personalisation, knowledge and alignment problems, which enhances the importance of traditional research for Account Based Marketing programs. Hence, traditional research enables organisations to be more personal, knowledgeable about their accounts and assist in the alignment of Sales and Marketing teams. Last and more importantly, research helps companies identify whether Account Based Marketing would be a fit for their overall business objectives.
Feel free to reach out to me at prajwal@businessbrainz.com.