At some point in our careers, we were all newcomers, learning the ropes and inevitably making mistakes. I remember when I first dabbled in ABM, I made a few missteps, especially in using intent data correctly.
In this blog, I’m sharing those mistakes and the valuable lessons I learned. My hope is that by reading this, you can steer clear of these pitfalls in your own ABM journey.
Mistake 1: Overlooking Content in Sales Activation
For any sales professional, pinpointing where to invest their time is often a challenge. Questions arise: Which accounts are in the buying cycle? How do we effectively follow up?
Enter intent data. This invaluable tool sheds light on which accounts the sales team should focus on. And when paired with sales activation tools, it becomes even more powerful. These tools send alerts when an account shows high engagement, ensuring the sales team has the most relevant messages for outreach.
However, intent data does more than just spotlight engaged accounts. It helps identify accounts that are primed and ready to make a purchase. Such insights can be the tipping point between a lost opportunity and a closed deal.
One of the pitfalls many fall into is not providing enough context for sales representatives. If a rep lacks comprehensive details about an account showing intent signals, they won’t see the full picture, which can hinder effective engagement. Key content like whom to approach, what to convey, and when to initiate contact can dictate the success of an engagement.
To optimize your ABM sales activities, consider the following areas for context integration:
a. Determine Alert Recipients: Define who should receive sales alerts.
b. Email Notifications: Dispatch emails to your sales reps based on CRM ownership, audience segments, or territory assignments.
c. Engagement-Based Alerts: Trigger notifications when there’s an increase in website engagement or based on third-party intent.
d. Identify Priority Accounts: Use intent signals to guide your reps on which accounts need attention and what messaging should accompany their outreach.
e. Timeliness: Notify reps of the optimal moment to connect. This can be gauged by evaluating an account’s intent strength. Setting up a system to interpret these intent signals can help determine readiness for contact. Implementing account scoring can be an effective strategy here.
In essence, the more information and content you arm your sales reps with, the better equipped they’ll be to prioritize accounts. This not only fosters efficient engagement but also boosts conversion rates.
Mistake 2: Treating All Intent Signals Equally
It’s a common misconception to view all intent signals through the same lens. The truth is, not all intent signals carry the same weight or urgency, and lumping them together can lead to wasted efforts targeting accounts that aren’t ripe for conversion.
Given the intricate nature of the B2B buying cycle, understanding and acting on specific intent signals is crucial. Recognizing the nuances between these signals can shed light on which accounts within your Total Addressable Market (TAM) are progressing in their buying journey.
Diverse Intent Signals Your Prospects Might Exhibit:
a. Awareness: Exploring new product launches or reading press releases on key initiatives.
b. Research: Delving into product reviews, research reports, business surveys, and absorbing thought leadership content.
c. Engagement: Following a vendor on social media, connecting with sales reps, or participating in trade shows.
d. Education: Reading blogs, tuning into podcasts, or attending webinars.
To illustrate, consider two different intent signals: a potential client reading a blog versus another checking out your pricing page. While both indicate interest, their buying readiness varies. Someone persuing a blog post is likely in the awareness or education stage, whereas a visit to the pricing page suggests they’re closer to making a purchasing decision.
It’s essential to ascribe different weightage to these signals. Assigning a weighted mechanism ensures you prioritize outreach to prospects based on their readiness, leading to more targeted and fruitful engagements.
Mistake 3: Forgetting the Humans Behind the Signals
In the whirlwind of metrics, data points, and intent signals, it’s all too easy to lose sight of a fundamental truth: behind each signal is a person. A person with needs, challenges, and problems they’re trying to solve.
For marketers, this underscores the importance of humanizing our outreach. Instead of seeing a lead as just another number or data point, remember that it represents an individual in search of a solution. Your role is not just to promote a product, but to illustrate how your product can be the answer to their specific challenge.
Engaging authentically and personally can make all the difference. A personalized touch not only humanizes your brand but can also position you as a genuine solution provider. By forging a connection that resonates on a human level, you significantly enhance the likelihood of prospects viewing your offering as the right fit for their needs.
Mistake 4: Overlooking Your Existing Customers
While the allure of acquiring new customers is compelling, neglecting your existing customer base can be a costly oversight. Not only are your current customers a proven source of revenue, but they’re also targets for competitors eager to lure them away.
Account-Based Marketing (ABM) isn’t solely a tool for prospecting; it’s also a potent strategy for nurturing and expanding relationships with your present customers. Through personalized engagement, ABM can address their evolving needs and cement their loyalty.
Leveraging intent signals, you can discern when existing customers are exploring competitors’ offerings. These insights empower account managers to proactively connect with their assigned accounts, delving into their needs and concerns.
Competitive insights derived from intent data can be invaluable. They can guide your efforts to highlight your unique selling points and differentiation. Consider launching ad campaigns or webinars that spotlight how your solutions address pain points that customers might encounter with rival products.
Moreover, intent signals can clue you into potential upsell opportunities. If an existing customer is showing interest in new services or features you offer, it’s a sign they might be primed for expansion. Having a team that’s attuned to these signals can lead to timely outreach, reinforcing the value you offer and deepening the customer relationship.
In essence, while chasing new prospects is vital, nurturing the bond with your existing customers is equally, if not more, essential. They’re not just numbers on a spreadsheet but valuable partners in your ongoing business journey.
Final Thoughts
The journey of mastering Account-Based Marketing (ABM) is laden with lessons. From understanding the weight of different intent signals to humanizing our marketing outreach, every step offers insights that can drive success. But perhaps one of the most critical takeaways is the value of balance. While chasing new leads and leveraging intent data are essential, so is nurturing our existing customer base and acknowledging the real people behind each metric.
In our quest for growth, it’s essential not to lose sight of these foundational truths. By avoiding the pitfalls highlighted in this blog, we can craft more targeted, effective, and human-centric ABM strategies. Remember, in the end, it’s about creating meaningful connections that benefit both the customer and the business. Here’s to successful engagements and forging lasting relationships in the B2B landscape!
