Account-Based Marketing (ABM) is all the rage. It isn’t a new idea, but it makes sense. Just about every solution provider that sells B2B wants deeper, more-profitable relationships with their best customers.
We talk to dozens of B2B companies that serve US industry every week. Consulting and Engineering firms, Software Providers, and Heavy Equipment companies. Anecdotally, 4 of 5 of our own prospects and customers are seeking to advance their ABM initiatives.
Implementation of Account Based Marketing
Although it is easy to say, “We need to do ABM”, implementation isn’t so easy. The hurdles are many, for example:
- Customer complexity. Industrial organizations are complex, with matrixed personnel, overlapping geo and product line business units, and partnerships. Add in M&A and reorganization activity, and knowing the ever-changing customer is quite a challenge.
- Rapid turnover. It takes a while to develop deep customer relationships. If your assigned account managers are changing monthly, quarterly, or even yearly, can they really have that trusted-advisor relationship with the customer?
- Disparate IT systems. Just about everyone we talk to, selling B2B, has CRM. Most have some level of Marketing Automation. Add accounting, ERP and other enterprise and local solutions. Then, in some environments, duplicate these systems. Even in smaller organizations, you can have quite a patchwork of systems that don’t necessarily communicate well. It can be very difficult for your ABM leader to get a 360 view of any one customer.
- Data consistency.
Firmographic Data Support Account Based Marketing
Firmographic data is critical to successful ABM, and to deeply engaging your customers once the discussion starts.
We make it easier for companies working with US industry to better understand their target markets and industrial customers. We also seek to help those industrial customers understand how the public maybe perceiving them, based on publicly available information.
This idea resulted from 20+ years supporting marketing and selling environmental technology and consulting into North American markets. The solution is a pre-configured BI platform that customers can use immediately for strategic planning, marketing, and sales.
The solutions to many problems can be solved with relevant, reliable data loaded in a modern BI solution. Problems we seek to solve include:
- Enabling executives to better identify and understand their industrial target markets, from the bottom-up and the top-down.
- Helping account executives (AEs) and salespeople be more-prepared for customer meetings, to make the best possible 1st impression.
- Arming marketers with information and insight to quickly execute campaigns, which with good BI, can be possible in days / weeks rather than months.
- On-boarding AEs new to the industry with deep, relevant knowledge about their territories and accounts.
- Finding the white space in existing customer accounts.
- Helping industrial organizations and their partners benchmark how they are perceived by the public, based on reported information.
Business Intelligence Helps Companies Improve Their Efficiency
Using BI, you can achieve many things, such as:
- Finding new target accounts faster and more-efficiently
- Increasing your sales within existing accounts
- Driving new revenue streams, with creative solutions leveraging our data, such as benchmarking
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