Section 5
We know how important data is for enabling personalised sales and marketing activity at the top of the funnel; also facilitating the tailored customer experiences that are so crucial for locking in long-term revenue. However, as marketing departments are keenly aware, third-party cookies will be abolished in the near future. As a result, brands are looking to collect more first-party data.
In order to achieve this, brands must become trusted advisers. This involves classic thought leadership, but also indirect forms of demand generation. Kyle Flaherty gives the example of a successful podcast on cybersecurity that’s produced by his organisation. Even though it doesn’t directly promote Cybereason, this is still generating a database of interested and engaged marketing leads.
He says: “This sounds so simplistic, but what I’m worried about is growing our database. You can call it first-party data, you can call it whatever you want, but we need a direct connection with these customers.”
Meanwhile, at Atos, Cat Dutton is focused on developing advisory boards, client councils and global digital events, that could be continued throughout and after the pandemic – all with a view to ensuring continuity of access to data in the future.
“Our digital marketing centre of excellence has done a full audit across online channels, so we’re now building out the strategy and plan for what we need going forward”, says Cat. “Sometimes we get so stuck in that day-to-day activity and tactical things that we forget about that long-term picture and those external influences that impact what we’re trying to achieve.”
It is precisely this kind of dual focus that is so important to maintain and communicate to the board.
We know how important data is for enabling personalised sales and marketing
With greater access to data comes greater opportunity to personalise your strategy and treat B2B marketing as more of a relationship between equals. Julie Knight-Ludvigson says that ABM defines Unit4’s go-to-market strategy, and it reaches far beyond tailored marketing content. It impacts the sales team’s entire approach to selling, and can apply to the creation of joint access portals that are shared with clients and allow for confidential data and information to be made visible.
However, it’s important to keep in front of mind that effective ABM must be of interest or valuable to the recipient, while also not crossing into territory that reveals you know too much about them. This relates back to the importance of considering your actions from a CX point of view.
The most effective ABM communications will always be centred on providing customer benefit
Often, communications based on data that the recipient did not consciously consent to sharing will result in dissatisfaction, especially if that person does not have a pre-existing relationship with your brand. The most effective ABM communications will always be centred on providing customer benefit, such as valuable information, relevant advice, or a tailored promotion.
Building your first-party data strategy is more than a response to data privacy. It’s accelerating your brand’s ability to voice its value. People buy from brands they trust, which help meet their objectives. But to enhance your brand impact, you must start an ongoing dialogue with those who matter most. That’s why the best ABM aligns with your audience using insight, personalisation and relevancy to ensure long-lasting partnerships.
With the influx of ABM technology platforms, one of the biggest blockers to adoption has been eliminated: scalability. Now, you can give every customer a unique experience. Deliver a bespoke story, but engage on their terms. That’s how loyalty is built and revenue is secured. It’s more than being first to the party, it’s hosting the party.
Evidently, more intelligent use and collection of data will be central to any modern strategy for accelerating change.
“Digital is a key part of acquisition, as well as cross sell and upsell,” says Gursaran. “We’re getting more sophisticated around that and understanding the propensity to buy. Rev ops are using data lakes to create the right segmentations and targeting models… Data science coming to B2B is a big focus.”
The evaluation, deployment and refinement of martech is becoming an obsession of many leading B2B marketing functions. Today’s tech stack encompasses automated web channels, marketing automation, CRM, social selling tools, social media management and more – all with an increased focus on measurable attribution, efficiency streamlining and integration.
With the support of martech solutions, the marketing department should be able to understand CX so intimately that marketers know how or when to act, for each customer or prospect, depending on what part of the customer journey they are in.
It all comes down to unlocking data’s potential. And although creating an interoperable ecosystem of martech tools may seem daunting – certainly, large organisations with multiple dependencies will find it difficult to adapt their stack overnight – capturing data and making it available is not as difficult as some may think. Working with the right data team, whether in-house or external, will help to expedite insight delivery in the short to medium term. Meanwhile, you can work on widening the scope and refining your stack.
In our experience, the most critical element is getting teams working together. Owners of marketing automation and CRM should be almost a joined unit, capitalising on each solution’s technical capabilities and integrating them to deliver the best outcomes for the entire organisation.
