New B2B marketing landscapes are often rising as experimental techniques. One such new B2B marketing landscape, ABX, is gaining traction.
In a study, Making the Consensus Sale by Harvard Business Review, B2B purchases include around 5,000 different stakeholders currently. On average, 5.4 percent of buyers now concentrate on B2B purchases.
ABM strategies have been around for a few years and have done a great job meeting this increasing business need. It is today one of the most preferred B2B strategies for marketers. It is evident that even though customers are not buying products or seeking solutions, the experiences they get from marketing professionals influence them.
However, the newer era belongs to personalization and customization.
Highly personalized marketing is not a new concept. Buyer personas, the buyer’s journey, and specific marketing techniques such as personalized and real-time marketing recognize the value of speaking directly to buyers. That is where ABX’s expansion started.
Today, personalized marketing is imperative. If companies still use only ABM, it’s time to upgrade marketing strategies to Account-based experience (ABX).
Also Read: B2B Lead Generation Strategies to Drive Business Growth in 2023
What Makes Account-based Experience So Successful?
ABM produces consistent customer marketing experiences by recognizing valuable accounts, targeting them, and increasing engagement with these accounts. Moreover, ABM works best when target accounts are least inclined to engage with businesses. Yet, sometimes this tactic falls flat with the most rigid target accounts. So, what next?
Account-based Experience (ABX) takes ABM a step further by offering B2B buyers a variety of experiences through customized content. Although ABM connects businesses with the ideal customers they are looking for, ABX entices the accounts with personalized content and communication to gain trust at each buyer journey stage.
In other words, ABX strategies concentrate on the unique opportunities that ABM helps organizations prioritize. The strategy leverages customer insights and competitive data to influence B2B buyers to engage with organizations, make decisions, and boost customer experiences. ABX supports ABM’s best practices by introducing targeted marketing initiatives that enhance personalized customer experiences.
Critical Characteristics of ABX Strategies
Double Focus on Key Accounts
Marketers can effectively plan their ABX move with the help of an Ideal Customer Persona (ICP). They can learn about their strategic objectives and priorities. Target account acquisitions and crucial information are integral to engaging with the accounts and providing highly personalized solutions, and also give a clear picture of the target account’s landscape and allow marketers to win easily.
Drive Double-Digit Experience
Costs are no longer a factor in the purchasing decisions of B2B buyers. The way businesses interact with their customers determines the overall customer experience. ABX helps the marketing team research and process customer pain points and formulate ABX strategies with personalized content. The customized content will provide precise solutions they must have been seeking. The ABX method will also assist in managing post-purchase customer lifecycle, customer retention, and an increased number of accounts.
Besides, a marketing team needs to realize that the ABX strategy needs to be human-centric. Keeping an account-based experience along with ABM will help companies navigate this digital transformation era.
Increases Interactions Throughout Buyer Journey
By practicing ABX, organizations can boost, improve and increase customer interaction ratios by keeping them uniform and centered only around customers. It dismisses the approach of casual or misaligned customer engagements. ABX strategy connects buyers to various touch points across the awareness stage. By doing this, marketing can measure conversation engagement, which further helps organizations foster customer relationships and convert consumers into loyal B2B customers.
Data-Driven Approach
Account-based advertising, tailored content creation, and various other marketing procedures are some of the techniques ABX uses as data delivers insights that convert to tangible customer marketing solutions. In addition, it helps determine content production, formats, and types of content, resulting in the highest level of engagement. Data intent can be gathered from the B2B audience, ongoing market positions, and brand context.
How to Get Started with Account-based Experience?
Aside from revamping account-based marketing tactics, there are a few easy things marketers can do to get started with account-based experience (ABX).
Align
The first step is to align marketing and revenue generation scopes. The teams must align on the following:
- Criteria of accounts (ICP) and list of target accounts
- Building client persona and messaging to address pain points or benefits
- Set a timeframe to reach specific target accounts
- Measuring account-based marketing analytics and the longevity of tracking process
Setting these alignments will help understand consumers’ purchasing patterns and persuade them to purchase.
Content Production
Produce content that speaks directly to each account targeted to turn them into decision-makers. Speak their language because they spend time on valuable solutions that resonate with their needs. Businesses can be more flexible with personalized content creation.
A/B Testing
Try diverse variations of a CTA in ABX strategy. Track them to understand which performs better. Use more compelling content and landing pages that entice them to know more about business insights on services and products. According to Hubspot’s findings, personalized calls to action perform 202% better than basic CTAs. Also, customized CTAs that appear as buttons perform far better than images. These are called smart CTAs, with conversion rates far above the average CTA buttons. The same research states that smart CTAs have 25-45% more conversion rates across thousands of views and clicks.
Also Read: Leveraging In-Product Messaging to Reach and Retain Customers
Track ABX Results
Constantly monitoring the outcomes of ABX activities is essential. Today, measurement metrics of most online marketing efforts use Google Analytics, CRM, and CMS. The results that these give enable marketers to modify and successfully organize each ABX campaign.
Undeniably, ABX develops a compelling buyer journey that guarantees personalized customer satisfaction and brand adherence. As a result, account-based experience has a higher RoI and offers a consistent customer experience from the first contact to the final closed sale and beyond it.
Turn up to the next chapter about the rising prominence of account-based experience (ABX) to learn ‘How ABX differs from ABM’ today and how it will benefit marketing teams in the future.
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