Here’s a sobering thought. When it comes to complex B2B companies, 20% of the customer base represents 80% of the revenue. Yet traditonal marketing spend is evenly spread over the whole customer base. So what’s the solution?
We believe that making use ABM technologies offers a unique solution for marketeers keen to boost sales.
Okay, there’s no such thing as easy pickings in sales, but why do so many companies ignore potentially big revenue targets? There’s no getting away from it, but the problem with many Account Based Marketing strategies is that they are focussed too heavily on the top few accounts whereas markeitng automation and demand generation stratégies focus is on volume.
Which leaves a problem: how to address the second tier of companies, those not in the top of the list, but certainly those that are collectively more valuable than the rest? These can be regarded as Medium Priority (which make up the middle of the pyramid), but usually don’t attract sufficient sales resourcs and they are not often prioritised.
This is why we have created a unique solution, Account Based Marketing Trawling, and base it on three crucial stages.
Stage One is the key starting block. You have to firstly identifiy your Tier 2 clients, ones that usually attract a medium priority.
Once that group has been properly identified and collated, you can move onto Stage Two and target them with an IP advertising campaign. This allows you to expand your engagement with them, by identifying all relevant sites and contacts, and run a multichannel demand generation approach.
Stage Three is when the most engaging companies from the second phase are moved to a higher level and targeted with additional IP advertising, until a sale has been converted.
This latter stage is of course the most rewarding and by the time potential customers are in that stage, opportunities can be accelerated over usually an eight-week period. The key is to take the top, defined opportunities by the account managers, and support these specific opportunities with account/industry specific messaging to help accelerate the opportunity through the pipeline.
The idea is to create a winning profile, when the potential customer realizes that the dialogue with the supplier offers the key trigger points that lead to a sale. Top amongst these is when the customer realizes they understand their business, has a solution and everyone supports the idea of the relationship.
It’s when you reach this stage, that you have a far greater chance of closing the sale.
All indicators show that if you expand your activities to take into account the second tier of prospects and do so effectively, then you can definitely vastly improve your sales. Most companies have this untapped potential and it should not go unexploited. By making use of Predictive & Real Time analytics and ABM technologies companies now have the ability to identify the most likely accounts to generate revenue and find which are more receptive to your product solutions.