B2B enterprises of all sizes, types, and sectors heavily depend on their presales teams. The success of the marketing campaigns has a significant impact on the sales conversion rate of the business.
Organizations need to strategically design their presales campaigns to target the right target audience, for increasing visibility and enhancing the purchase experience. Many B2B marketing teams are heavily relying on account-based marketing approaches to get more visibility in the client’s account.
According to a recent report shared by Hubspot titled “State of Marketing Trends Report 2022,” there is a surge in the number of organizations adopting ABM in their presales campaigns. The report suggests that approximately 70% of marketers are embracing ABM strategies in their marketing operations, the number scaled up from 15% in 2020.
CMOs of B2B enterprises are exploring the opportunities of ABM in their operations to increase the ROI. Businesses need to be aware of the pitfalls of account-based marketing to avoid implementation failure. It is a perfect way to develop a resilient marketing strategy that overcomes all the ABM pitfalls. Following are a few account-based marketing pitfalls that CMOs need to be aware of:
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Silos in the teams
B2B enterprises can easily get lured by the promises of ABM, but they tend to overlook the challenges and requirements of their business. The intricacies of the B2B business units are complex, delivering products and services to various organizations and geographical locations. It is crucial to align the presales, sales, and aftersales teams in a way that they do not constrain each other. CMOs should consider establishing seamless workflows with best practices to target the right audience.
A lack of synchronization in the customer journey teams will impose challenges on the organization by making it difficult to succeed. Many enterprises consider ABM as a whole and the sole responsibility of presales teams. However, a successful account-based marketing approach requires seamless collaboration and agreement between multiple teams. The stakeholders need to determine the right target audience for sales and set the right Key Performance Indicators (KPIs) and understand what success sounds like for everyone involved in the buying process.
Concentrate efforts on a few digital channels
Many B2B enterprises consider the capabilities of their digital efforts are only limited to online advertising, webinars, and content. Embracing the ABM approach will assist enterprises in utilizing the target account lists to accelerate both digital and analog programs. CMOs should consider designing data-driven quarterly marketing campaigns. Determining geographical locations that need immediate marketing investment and attention to increase the ROI.
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Failure to implement insights
Enterprises are embracing Artificial Intelligence (AI) and data tools in their marketing strategies to make more informed decisions. However, they overlook the time and efforts required to ingest, structure and analyze data to gain valuable insights from the massive amounts of data generated. Businesses that develop and integrate robust customer data lakes are able to gather valuable insights.
The B2B buying journeys are evolving tremendously; it becomes a challenge for different teams to operate display advertising, website content, sales outreach, and email marketing efficiently. Businesses find it challenging to push potential buyers into the next engagement stage across channels when the buyers interact.
Businesses today require speed and accuracy to align and gather valuable business insights into actions. A new email, phone, or new campaign content flow might disrupt the marketing campaigns if the marketing tech stack is not integrated properly. CMOs should consider designing and implementing robust ABM strategies and tools that can process valuable data in real-time to work on the execution in real-time.
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