In our previous two blog posts on Account Based Marketing, I outlined how to determine the focus verticals and create a content marketing plan for various verticals. Now, we will discuss how augmented data will provide your sales and marketing teams, the ability to engage target accounts across any channel of interaction.
Let’s start by reviewing some of the key data points that are needed to deliver Account Based Marketing to specific accounts.
‘Personalized Content can lead to a 19% increase in sales’ - Marketing Profs
2) SIC Code
3) Annual Revenue
4) Company Size
Based on the data, you might have additional metrics that are relevant to your company. For this post, we will use the four listed above as an example.
Taking into account the inventory of your current MarTech stacks is needed to determine the next steps. As with many companies, you will need to review multiple datasets across your marketing systems. This will include Customer Relationship Management, Marketing Automation, Website Profiles, and more.
To determine the gaps in your existing data, follow the following steps:
1) Determine if the required fields are created in the systems for the four data points
2) Are the data fields populated with information?
3) What percentage of accounts have partial data
3) What overlap is there between systems
Now that you have reviewed your internal systems, third party data can be used to augment the missing data across your platforms. Let’s take a look at how you can enhance the data across multiple channels within your company - CRM, Website Profiles, and Marketing Automation Platforms.
1. CRM – Customer Relationship Management (Salesforce, Dynamics, Hubspot, etc.)
Many companies rely on the sales reps to complete the account profile in the CRM for existing accounts. However, most sales reps don't have access to data, or it isn't part of the sales process to fill out information.
Demandgen is a company that will assist with Data Enrichment Services for your CRM. You can set it up to populate the data in the missing fields that are relevant to your Account Based Marketing.
With the relevant data, the sales team can create target an account list. They can use the content created taking into consideration the pain points for each target audience, and personalizing their activities to the right people.
‘70% of companies have incomplete or out of date data’ - Study
2. Website Profiles
Building profiles on a visitor within your web database will assist you with demand generation. Common data points captured are - time on site, pages viewed, campaigns triggered, etc. Enhancing the data utilizing solutions like Demandbase can provide the four data points. The system uses the IP address to link the company information to the site visitor and enhance the profile with the four recommended data points listed above. There are other services that can augment with additional information regarding the buying cycle like Bombora.
3. Marketing Automation Platforms (Pardot, Marketo, Hubspot, etc.)
Marketing Automation solutions primarily get data from forms on a website. By integrating the platforms, you are able to utilize information and actions to engage an audience in real time. This will allow you to create marketing campaigns tailored to the account. Additional contact information may come from the CRM, lists from conferences, and purchased lists (not recommended).
Demandgen can assist with data enrichment for Marketing Automation platforms also. However, if you enhance the data within your CRM or on the website, you can pass this information through to the platform by integrating them.
I’ve outlined three areas that you should enhance the data. Integrating the three solutions to share the data is essential and will accelerate the lead funnel. In the next post for the ABM blog series, I will cover Personalizing Engagement across four channels - website, email, CRM, and sales.