Artificial Intelligence (AI) is the latest B2B marketing buzzword. AI is transforming the way businesses market to their customers, and account-based marketing (ABM) is the best strategy for it.
ABM strategies can deliver much higher conversion rates than traditional marketing, according to B2B marketing experts. It is capable of providing a far more tailored customer experience as well as a more efficient and goal-oriented sales team. Organizations can gain insights into their prospects’ levels of engagement and the performance of their campaigns by using AI in their ABM strategy.
According to “The 2020 State of ABM Report” from Terminus, 23% of marketers claimed their ABM campaigns were inactive in 2019. However, only 5.8% indicated they had no active ABM program in 2020. That’s a significant increase. As is the case with most things, businesses believe COVID-19 played a role.
Most CMOs and businesses are likely looking to scale their efforts in the direction of an ABM strategy. With today’s rising buyer needs, ad-hoc data sources, and artificial intelligence advancements, having a unified and reliable customer data set is essential for scaling account-based marketing initiatives. The following are some of the ways AI can have a significant impact on the ABM strategy.
With reliable data, businesses can target the relevant accounts
AI is capable of detecting intent, making it an excellent tool for account selection. Artificial intelligence can assist organizations to narrow down and tell them how well a collection of accounts falls inside their ideal customer profile based on a Total Addressable Market that matches a basic set of criteria like revenue, staff count, and industry type. Companies can leverage Artificial Intelligence and Natural Language Processing (NLP) technologies, as well as decades of domain expertise, to provide reliable, high-quality global contact data.
Take Relationship-Building to a New Level
Artificial intelligence can spot patterns and insights that humans might overlook. Once AI has a better understanding of why people do what they do, it can use that information to create more targeted marketing messages.
Businesses can serve the most relevant messaging that will lead them to the next step based on where the prospect is in the marketing funnel and the unique journey there. This capability can be used by marketing and sales leaders to ensure that no opportunity is missed and no lead is lost. Apart from its potential to automate practically everything a company does, AI’s ability to personalize content at the proper time for each prospect is one of its most important features.
Make sure that sales and marketing teams are on the same page
The synchronization of sales and marketing teams is the most crucial benefit of ABM, and AI can help businesses improve this coordination even more. Sales can receive activity and behavioral data from AI, which they can then respond to on a case-by-case basis. This method provides better ROI than the standard “smile and dialing” strategy, which involves making unsolicited calls to potential clients.
AI can only supplement ABM initiatives, which will always require a company-wide strategy. However, if used correctly and with the appropriate tools, it is possible to implement strategies that were unthinkable just a decade ago.
For more such updates follow us on Google News TalkCMO News.