Digital Advertising for B2B Marketers: Account-Based Marketing
Is your digital advertising strategy optimized to succeed in the modern B2B marketing environment? With emerging channels and new technology coming online, it’s essential for marketers to be continually adapting their tactics. In its first business-to-business digital advertising forecast, eMarketer estimates B2B online advertising to total $4.8 billion in 2018 – up 13% from last year. Their study indicates that the B2B market is thriving, with ad budgets increasing by 111% within the past five years.
For business-to-business marketers looking to expand their visibility online, digital advertising is now essential – and those who fail to adapt risk being left behind.
So how do B2B marketers succeed with online advertising? In this blog series, IgnitionOne will explain the online strategies and tactics used by top business-to-business marketers. This first article will explore Account-Based Marketing, or “ABM” – which is among the more significant contributors to the rise of digital advertising for B2B marketers.
The Rise of Account-Based Marketing
Historically, B2B marketers have succeeded by casting a wide net with their marketing, hoping to appeal to as broad a cross-section of businesses as possible. Account-based marketing (ABM) is an alternative strategy that focuses efforts on a narrowly-defined group of targeted accounts with specific messaging that can be personalized based on specific attributes of each targeted account – hence the name “Account-Based Marketing”.
By nature, account-based marketing is aimed at reaching high-value purchasers – minimizing poor-quality leads while helping move more customers toward conversion. ABM also promotes transparency within the customer acquisition process by giving marketers the ability to optimize efforts based on customer value, further enhancing alignment between marketing and sales teams. Below we highlight some account-based marketing tactics that can enhance your marketing outcomes.
Account-level targeting for paid media. One ABM tactic is to engage target accounts across paid media channels. To accomplish this, marketers can create audiences on social platforms like Facebook and Instagram, search engines, and other channels to deliver advertising tailored to these audiences. Criteria for targeting on paid media channels could include company name or job functions, as well as geographic locations of a targeted account’s offices. Marketers can also leverage techniques for targeting such as IP ranges – or simply onboard a CRM file of prospects – for effective account-based targeting.
To ensure the most accurate targeting possible, the ideal marketing technology partner for ABM utilizes robust identity resolution (IDR) techniques – which help recognize each individual within a targeted account as the same person, every time they interact with your brand – ensuring relevant, coordinated messaging across channels and devices. This means that you can target someone at their job – and continue the conversation across other devices in their home or elsewhere.
Account-level measurement. Once you engage with your targeted accounts, the next step is to review account-level results. Analysis of conversion data from each account enables marketers to measure the performance of their paid-media efforts based on sales value. This measurement can be made available for ingestion by partner analytics platforms – providing B2B marketers with detailed account-level reporting in their platform of preference.
To maximize consumption of account-level reporting, a marketing technology partner should integrate seamlessly with the business intelligence tools that you use, providing a consolidated view of each customer’s lifecycle stage, level of engagement, and products of interest. These insights enable marketers to assess and adjust their marketing strategy to maximize impact.
Lead generation. Applying account-based marketing principles to lead generation tactics can help improve efficiency and boost conversion. For example, marketers can leverage RLSA audiences to boost the visibility of their business when targeted accounts perform generic search queries. This helps ensure the efficiency of marketing efforts and raises brand awareness among targeted accounts. Such tactics help marketers deliver coordinated cross-channel messaging and drive a higher volume of qualified leads toward conversion.
Of course, the ideal marketing technology partner integrates converted leads to your existing CRM systems – while also providing reporting tools that help marketers better understand how each lead progresses throughout the customer journey.
Tying It All Together
Modern technology has changed the B2B marketing game. As the customer journey has shifted to involve limited interaction with salespeople, B2B advertisers need to deliver truly impactful campaigns across channels. The value of digital advertising is that your marketing can be automatically customized to respond to each customer’s behavior at vital decision-making moments. Account-based marketing can help you reach the businesses you want to reach, while you measure results to gain insights that boost the bottom line.
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At IgnitionOne, we have been using our technology to personalize content with messaging tailored to each individual’s stage in the customer journey for over a decade. Get in touch to learn more about how IgnitionOne can help your digital marketing succeed.