Recently, there has been a noticeable shift in B2B buying toward digital channels. It’s a shift from sales to marketing.
Buyers today, both in B2B and B2C, research new products and services online, before they buy.
The buyers make buying groups, that could comprise almost 30 people in large sales organisations, to evaluate products and services.
They complete most of their buying research, discuss the products internally, shortlist and then fill out a web form or contact sales,
By this time, they are fully aware of your products and those of your competitors.
A salesperson has no further influence over the final decision because of very clued-in customers.
As a result of the Covid-19 pandemic, businesses have realized that they cannot just rely on trade shows, events, and face-to-face meetings to spur growth and expansion.
Sales once used to control the buyer’s purchase journey because of the lack of enough buying information.
Today online content, pricing data, feature comparison information, and online reviews, are freely available for leverage.
This means that marketing has a greater role to play.
ABM is the most effective marketing strategy in B2B, and marketers are happily embracing it.
The blog covers:
Top 5 Trends:
- Trend #1. Integrate Demand Generation & ABM
- Trend #2. Move From Leads To Insight-Driven Sales Opportunities
- Trend#3. End for Third-Party Cookies
- Trend#4. Emergence Of Innovative Digital Marketing Channels
- Trend#5. The One-Stop Shop
- #6. Conclusion
Market experts believe that the following developments will affect ABM strategies and investments in 2022 and beyond, among other things:
Trend #1. Integrate Demand Generation & ABM
ABM doesn’t have to be all or nothing in order to be effective.
Some firms have had success with ABM and demand creation programmes that are tightly integrated.
Forrester Research projected in early 2021 that “ABM and demand generation — both as practice areas and as a collection of enablement technologies — are beginning to combine.”
Many firms are now consolidating their account-based marketing, demand generation, sales development, and business development teams into “Revenue Growth Teams”.
Marketing technology investments will reflect this in the coming year, as we’ve seen in previous years.
Some ABM platforms have already incorporated native email marketing automation into the functionality of their platforms.
In the meantime, an integrated solution, that combines both account-based advertising and email marketing automation, is a great alternative.
You can engage both anonymous and known contacts throughout the buying cycle.
You can also decrease resource requirements to handle omnichannel driven ABM.
Trend #2. Move From Leads To Insight-Driven Sales Opportunities
Long recognised as a critical performance metric in B2B marketing, MQLs are now becoming increasingly popular.
The leads themselves, on the other hand, are no longer sufficient due to the fact that organisations are increasingly making purchasing decisions in groups rather than as individuals.
Modern marketers will search beyond web form fills and seek out anonymous intent signals from their most important customers.
ABM tracks and quantifies new sales prospects, pipeline, deal sizes and contract renewals.
Marketers then leverage these new anonymous indicators of purchasing intent to sharpen their campaigns.
Some account-based marketing solutions gather anonymised account-level buying intent data from sources such as a company’s website, webinar platform, and omni channel marketing campaigns.
With AI, marketers can set up alerts that go out immediately when an ABM platform detects a rise in important account engagement with essential content – an indication of a new buying group.
This helps marketing prioritise accounts for later-stage marketing and sales reps reach out to potential clients ahead of the competition.
Trend #3. End Of Third-Party Cookies
Google’s has postponed the third-party cookie ban until 2023.
That gives businesses time to plan their digital advertising strategies for the inevitable transition.
There are now better, privacy-compliant options available, and marketers should explore these.
IP based advertising is poised to overtake traditional media as the preferred method of reaching highly targeted B2B audiences.
In fact, it’s the only way to send relevant and personalised display ads to buyers based on their company IP address.
Without third-party cookies, it allows for zero waste and ushers in an always-on account-based advertising.
Trend #4. Explore Innovative Digital Marketing Channels
The best results come from an unified omnichannel approach.
To do this, you need to send the same message to all members of the buying group, no matter where they are online.
There are a few technologies that help – IP display, Google ads, website personalisation, email marketing, and LinkedIn marketing.
Marketers will soon start leveraging account-based advertising on non-traditional B2B platforms like Facebook, Instagram, and maybe TikTok.
CTV ABM also brings exciting new video channels.
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Trend #5. Become a One-Stop Shop
Because maintaining a good ABM programme requires far too much work, many firms prefer working with a single vendor/ partner for all their digital B2B marketing.
This saves time and money by eliminating the need to design and maintain a “best-of-breed” marketing technology stack.
Those exploring using a single vendor should consider the following:
- Exceptional marketing abilities in a variety of channels, including internet-based advertising and email marketing as well as LinkedIn, Meta, and Google
- Reach people all throughout the world, regardless of their region or language; and
- Account-based analytics that leverage IP monitoring and data straight from major advertising platforms. This delivers insights from known and anonymous buying group members which are on the rise.
Ultimately, as B2B digital marketing talent becomes scarcer, more marketers will outsource campaign execution to free up time for ABM strategy and alignment with revenue growth teams.
A good marketing services provider (MSP) can replace the majority of the skill gaps that exist with in-house marketing teams.
This will also bring a lot of insights and skill, as well best practices in areas, if the MSP specialises in it.
For B2B marketers in general, 2022 will be a very exciting one in terms of opportunities.
Marketing with the appropriate strategy, new technologies, and experience, will be well-positioned as the primary drivers of revenue creation.
By 2027, it is expected that global account-based marketing will reach 1.6 billion dollars.
The global account-based marketing market is thriving, according to the most recent account-based marketing statistics released.
Despite the pandemic, the ABM market is expected to reach $749.4 million in 2020, according to estimates.
ABM is predicted to increase at a compound annual growth rate (CAGR) of 11.6 percent between 2021 and 2022. Other ABM growth projections include the following
- The ABM market in the United States is expected to reach $202.3 million by 2020.
- The ABM sector in China will also grow at a rate of 15.2 percent compound annual growth rate (CAGR).
- Among the countries in the Asian Pacific region that will lead in ABM are Australia, India, and South Korea.
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ABM is the most effective strategy for B2B marketers, and they are embracing it.
Forrester Research projected that ABM and demand generation “are beginning to combine”.
In many firms, revenue growth teams now include account-based marketing, demand generation, sales, and business development teams.
IP advertising is poised to overtake traditional approached as the preferred method of reaching highly targeted B2B audiences.
Account-based marketing solutions can gather anonymised account-level buying intent data. These are garnered from the company’s website, webinar platforms, and omnichannel marketing campaigns.
Many firms prefer working with a single vendor for all their digital B2B marketing needs.
Account-based marketing (ABM) is thriving, according to the most recent ABM statistics. By 2027, it is expected that global ABM will reach 1.6 billion dollars.
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