Account-based marketing software and tools are at the core of ABM success, from the core componenets of a CRM, through marketing automation and ad management. According to the ABM Leadership Alliance 73% of marketers plan to increase their account-based marketing budgets this year.
If you, too, are planning to make Account-based marketing part of your marketing strategy you’ll need to be prepared. To succeed you’ll need to align your strategy with technology and consider investing in account-based marketing software.
Lead generation company TechnologyAdvice describe the importance of ABM technology
The software and platforms you opt for will depend on which ABM tactics you’re intending to pursue. Choose wisely – and you’ll see a number of significant benefits:
The benefits of account-based marketing software
- Greater account-level personalisation: ABM software gives you the ability to engage target accounts with content and offers that reflect their individual attributes. According to Marketo 82% of prospects value content based on their specific industries – so the more personal you can get the better.
- Account-level analytics: ABM technology enables you to perform closed-loop reporting so you can trace your efforts to specific revenue outcomes.
- Strategic alignment: With the right tech stack you’ll have the power to track, target and engage key accounts so that marketing can support the sales team.
- More successful prospecting efforts: ABM software can help you research and develop processes around target accounts. Then you can build in-depth profiles and identify the steps you need to take in order to win new business.
With so many platforms out there, selecting the right ABM software can be difficult. In this post we’ll run through the three main categories of account-based marketing software. And also offer some tips on what to look for in a new system .
The three categories of account-based marketing software
1. Predictive Analytics Software – Data mining for accurate target account lists
Over half of B2B marketers are using predictive analytics tools. Predictive ABM software mines your existing customer data and uses pattern recognition so you can build ideal account profiles.
The software works by identifying ‘firmographic’’ patterns. Criteria used to build these patterns include: industry, size of company, location, revenue, technical infrastructure and lifetime value potential.
Most predictive platforms can analyse your CRM and databases as well as pull in new data from directories, social media and third parties.
By creating a list of qualified accounts you’ll be able to see where sales and marketing should be focusing their efforts.
2. Marketing automation – Segmenting and nurturing personas
These software platforms generally serve as an operational hub, where data management across all marketing campaigns takes place (ABM included). All data generated from predictive tools, advertising automation tools, emails, events and direct mail is gathered together. You can then track performance and see, for example, which accounts require following up by sales.
Some marketing automation tools can be integrated with your CRM. This prepares you to run custom nurturing campaigns and measure their effectiveness across multiple channels.
3. Ad Management Software
Personalised advertising and retargeting is essential at the beginning of the sales cycle for building awareness. This type of account-based marketing software enables you to manage the offers and messages you serve to target accounts. This includes both when they’re on your site as well as when they’re at other locations.
By directing key decision makers to pages on your site by showing them relevant messages you can start to build engagement. Many of the advertising automation platforms also include a reporting feature so you can track digital engagement at account level.
How to choose your account-based marketing software
- Does the proposed platform give you straightforward metrics that you can create actionable plans from? Even if a software can slice and dice data into fabulous-looking charts they must be clear and easy to understand. Then you can use them effectively.
- Does the software have the flexibility for you to create your own customised in-depth reports? Once you’re up and running and familiar with your data requirements this ability is invaluable.
- Since the aim of ABM technology is to automate routine tasks a good ABM solution should help you manage contact and lead information. Does the software have the ability to update contact information or map new contacts into the right accounts?
- Does the software provider include customer support? Depending on your organisational set-up you may require customer service – including real-time support, consultancy or the opportunity to attend educational events.
- Does the ABM software integrate with your existing solutions? ABM tools that integrate with e.g. Salesforce or Marketo will ensure smooth communication between sales and marketing.
ABM systems can provide all the essential tools you need to power up your marketing efforts.
You can use software to automate and reduce the amount of time it takes to identify prospects.
Technology can also help you craft personalised journeys and increase customer retention rates .
If you’re thinking about implementing Account-based Marketing strategy or plans are already underway take stock of your existing solutions – and consider aligning them with a specialised ABM software platform. Don’t add to the tech stack without due consideration, however, or you could inadvertently make life harder, not easier, for marketing and sales.
Consider an all-in-one ABM platform
As you can see, there are multiple approaches to building out your tech stack to make ABM more manageable. However Salesforce and now HubSpot have added ABM functionality to their platforms with HubSpot already offering class-leading CRM, Marketing, Sales and Service hubs, they have now added ABM functionality across the platform to align all teams around this approach.