Adopting account-based marketing (ABM) plays a pivotal role for enterprises to reduce their corporate distancing and streamline their marketing strategies. But it is not one-size-fit-for-all, and instead of reaping the benefits, enterprises may end-up wasting their critical resources.
When enterprises have multiple sales and marketing teams for handling business units, geography, industry, it provides an opportunity for them to scale results. But, when the teams start to target the same accounts, the ABM strategies in place fail to meet the required expectations.
In a large enterprise environment, the number of accounts, buyer personas, execution channels, and data sources contribute much more to the increasing the complexity of the required ABM approach.
This effectively outlines why implementing the same technology stack and ABM strategies will not yield the required results. Thus, enterprises must draw their own roadmap implementing ABM to get the maximum RoI. Below are a few factors that act as a roadblock while adopting the enterprise-wide ABM tools and strategies.
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Ineffective Administration
Before rushing towards implementing ABM, enterprises must think about the challenges and the needs of their marketing department. They need to ensure that their team can operate without constraints, coordinate their activities with similar target accounts, report together, and can share their best practices. If not, enterprise-class marketing will struggle to achieve its goals. Furthermore, if they continue to operate in isolation, they will overlap target accounts that will further compound the platform’s cost, resulting in an inefficient marketing operation.
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Not executing insights at the pace of buyer’s engagement
Today, buyers interact with their preferred brands across various touch points. Since they are unaware of the fact that separate teams take care of advertising, website content, email campaigns, etc., it becomes difficult for the AI to make sense of the immense amount of data for modernizing customer engagement. Also, if the analytics vendors only periodically update their data, and the ABM platform cannot process the data in real-time, chances are the marketing department will always miss the right time and opportunity.
Inefficiencies in multichannel vs. omnichannel
Even though most ABM platforms have multichannel capabilities, they do provide the marketing team with more advanced control to prevent over-marketing or conflicting messages across various departments. Not having this control, the promise of omnichannel ABM becomes impossible since targeting the audience will be within platform siloes. It only gets worse when they leave critical strategies and communication channels untargeted.
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Ill data management functions
As enterprises expand, so does the collection of their marketing technologies and the number of people and teams who use them. This makes it difficult for CMOs to make sense of the account-structured data and activities across the systems.
Hence, opting for an enterprise-ready master data management (MDM) technology system enables enterprises to cleanse, organize, map, and append data for getting better insights and delivering accurate reporting and attribution.
Opting for ABM platforms and strategies can launch the marketing initiatives of enterprises to new heights. Yet, without customizing it to meet the needs and expectations of the enterprise can result in increased waste of financial resources and loss of customer confidence.
