Account-based marketing platforms serve as an integral part of effective marketing strategies. In a highly competitive market, these tools can get you ahead of the curve.
ABM can be put in by any company, but it is well-liked among B2B businesses that sell to other businesses. Many different platforms can be applied to ABM.
In this article, we will discuss the best ABM platforms and the key considerations you should take before paying for its subscription.
What is an Account-based Marketing Platform?
An account-based marketing platform is a software as a service (SaaS) application that enables businesses to identify and target their primary customers and prospects.
The platform integrates with a company’s customer relationship management (CRM) system to identify and score leads and target them with personalized marketing messages.
Account-based marketing platforms also provide tools to help sales representatives track their interactions with leads and close more sales.
The platform collects data about customers and their interactions with the business, then uses that data to create targeted marketing campaigns. The platform can also track the success of those campaigns and report on the results.
What do ABM Platforms Do?
ABM platforms provide a comprehensive and cohesive way to manage all aspects of an ABM program.
They provide a single system where all customers’ data and interactions can be tracked and managed. As well as where all campaign activities can be planned, executed, and analyzed.
ABM platforms further provide a way to manage and track lead and opportunity pipelines, along with the scoring and ranking of leads and opportunities.
Moreover, ABM platforms help measure the effectiveness of your ABM program and track progress against goals.
Common Features in an ABM Platform
Fully featured ABM, or account-based engagement platforms usually include the following set of capabilities:
Account Targeting and Selection
The customary methods applied in an ABM platform are:
- identifying and targeting key accounts
- using customer data to identify and target similar accounts
- using propensity models to identify and target accounts with a high likelihood of responding to an ABM campaign
Each of these methods has its benefits and drawbacks. For instance, identifying and targeting key accounts can be a successful way to target high-value accounts. However, it can be crucial to identify all the key accounts for a given business.
Analyzing similar accounts can be a less accurate way to target accounts, yet easier to implement and can be more cost-effective.
ABM platforms use a variety of techniques to segment audiences, including demographic information, firmographics, and technographics.
By understanding a customer’s characteristics, an ABM platform can better target that customer with relevant content and messaging.
For example, an ABM platform might target a customer who is in a managerial position at a midsize company with content about how the platform can help them grow their business.
Multichannel Outreach Orchestration
These tools allow you to create and manage marketing campaigns across multiple channels, including email, social media, and paid advertising.
By using a single platform to manage your campaigns, you can ensure that all your channels are working together to reach your target audience. It can help you achieve a higher level of success with your ABM strategy.
Account-Based Web Personalization
An ABM platform can personalize a web user’s experience by tracking their account information and then providing them with content in line with their specific interests.
It is done by analyzing the user’s past behavior on the website and then serving them content relevant to their interests.
In addition, the ABM platform can track the user’s interactions with the content served to them and then use that information to personalize their experience.
Intent Data (Real-time Behavioral Data)
ABM platforms can perform real-time behavior data analytics through big data processing and machine learning algorithms.
By capturing and analyzing massive amounts of data in real-time, ABM platforms can detect and respond to changes in customer behavior to improve the customer experience.
Plus, ABM platforms can use machine learning algorithms to continuously improve the accuracy of their predictions, making it easier to identify and respond to customer behavior changes.
What is an Account-based Marketing Strategy?
An account-based marketing strategy is a targeted marketing approach that focuses on specific accounts rather than a generalized approach that targets a large audience.
With an account-based marketing strategy, businesses identify their target accounts and craft tailored marketing messages and campaigns specifically for those accounts.
This approach can be more effective than a generalized marketing strategy as it allows businesses to build deeper relationships with their target accounts and create a more personalized experience for those accounts.
How Can ABM Platforms Help Implement Effective ABM Strategies?
Account-based marketing platforms can effectively help to implement ABM strategies by providing a system for organizing and managing target accounts, along with providing tools for creating and executing targeted marketing campaigns.
ABM platforms help sales and marketing teams to easily identify and target key accounts and track the success of their ABM campaigns.
It can also help automate the process of engaging with potential customers and tracking their progress through the sales funnel.
ABM platforms can be a foremost tool for businesses looking to implement an ABM strategy and help make the process easier and more effective.
What are the Benefits of an Account-based Marketing Platform?
An account-based marketing platform provides several benefits for businesses.
1. Enables businesses to identify and target their most important accounts.
This allows businesses to focus their resources on the accounts that are most likely to result in sales.
2. Allows businesses to track and measure their success with each account.
This information can be used to improve future campaigns and to target additional accounts that may be interested in the business’s products or services.
3. Helps businesses to build stronger relationships with their customers.
By targeting each account individually, businesses can create customized messages that are more relevant to each customer. It can help them improve customer loyalty and increase the chances of repeat business.
Top Considerations When Choosing an ABM Platform
When selecting an ABM platform, there are some factors to consider.
1. Size of your company.
If you are a small business, you will likely want a platform that is user-friendly and inexpensive. If you are a larger company, you will need a platform that can handle more data and has more features.
2. Type of leads you want to target.
Some platforms are better at targeting certain types of leads than others. You also need to figure out the needed features in a platform. For instance, do you need lead scoring or lead nurturing?
3. Company’s budget.
ABM platforms can be costly, so you need to make sure you can afford them.
Salesforce IQ is unique compared to other ABM platforms because it offers a more comprehensive and complex view of your customers and prospects.
The platform provides detailed insights into their activities on social media and other online channels and offers powerful analytics capabilities that allow you to track and measure the effectiveness of your ABM campaigns.
Additionally, Salesforce IQ integrates seamlessly with the Salesforce CRM system, making it easy to track and manage your leads and customers.
Oracle Eloqua is a comprehensive marketing automation platform that enables organizations to create, manage, and execute marketing campaigns and programs more efficiently and effectively.
The platform provides organizations with broad-spectrum features and capabilities, including email marketing, lead management, website visitor tracking, and marketing analytics.
Oracle Eloqua enables organizations to create and manage customer journeys, which provide a more holistic view of customer interactions and allow organizations to effectively target and personalize marketing messages.
Marketo is an excellent choice for an ABM platform because it has a number of features that are specifically designed for ABM.
The platfrom has a robust CRM system that can track your interactions with potential customers, making it easy to identify and target the most promising leads.
It also has a powerful marketing automation system that helps you create and execute sophisticated marketing campaigns that target your key accounts.
Marketo has a large and active user community that can provide you with valuable insights and advice on how to best use the platform.
Finally, Marketo is backed by a strong company with a proven track record of innovation and customer satisfaction.
There is no doubt that account-based marketing is growing in popularity and is proving to be a successful strategy for many businesses.
However, not all platforms are created equal, and it can be crucial to determine which one is the best for your specific needs. The three platforms listed above are some of the most popular and well-rated options available, and each has its own unique set of features and benefits.
Choose the one that best suits your business needs, budget, and target market, and start to create successful account-based marketing campaigns today!