The modern buyer journey is complex and involves many people within an organization, making it crucial to understand the target audience and their needs at both the account and location levels. Account Intelligence and data analytics are essential to identifying ideal leads and improving demand generation practices.
Data shows that a data-driven demand generation strategy improves lead quality (49% of professionals say so), improves customer experience (39%), increases campaign ROI (36%) and generates more leads (35%).
To obtain the necessary account information, companies must use various technologies and sources of multidimensional account intelligence. This allows information to be more accessible and accurate in terms of location, language, and buyer journey triggers. This way, companies can better understand their audience, personalize messages and ultimately drive demand.
What is Account intelligence?
That said, we can say that Account Intelligence is the pinnacle of strategic B2B marketing data. It involves aggregating, verifying, and curating actionable information from multiple trusted sources to get a complete picture of your potential customers' identities, the organizations they work for, and their digital behaviors. Data enrichment, demographics, technography, and intent data, among other aspects, are vital components of Account Intelligence.
With Account Intelligence, companies will be equipped with informed decisions to enable sales and marketing teams to carry out a strategic Account Based Marketing (ABM) campaign .
What is Account Based Marketing?
Account Based Marketing (ABM) is a targeted strategy in which marketers prioritize one or a few businesses (accounts) rather than trying to appeal to the entire target market. All marketing resources are allocated to converting only one or multiple accounts at a time. This is in stark contrast to typical marketing, where campaigns are created to appeal to the masses. With ABM , businesses consider visitors as part of an account and create personalized campaigns tailored to their unique needs.
Account Based Marketing vs. Demand Generation: The main differences
ABM and Demand Generation are two strategic approaches in B2B marketing that pursue the mission of generating profits, but their methodologies and objectives vary somewhat.
While in ABM you reach specific, high-value accounts with personalized messages on different channels, demand generation focuses on a broader network where the goal is to generate awareness and interest from a broad audience and not just target selected accounts.
However, Demand Gen is an ABM- friendly strategy and can help you increase your effectiveness by providing you with a broad base of leads that can be segmented and nurtured into high-value accounts.
For example, an enterprise software company launches a Demand Generation campaign to promote its new project management platform, using widespread content such as webinars, blogs, and ebooks to attract a wide range of interested prospects.
The campaign generates a broad list of leads, which are then segmented by the marketing team to identify potentially high-value accounts. The ABM team then develops customized campaigns for these accounts, using the information collected during the Demand Gen campaign to create specific messages. In this way, the company uses Demand Generation to attract prospects and then applies ABM to convert the most promising leads into high-value accounts, demonstrating how both strategies effectively complement each other.
Do you want to start benefiting from Account Intelligence and Demand Gen? At PGR Marketing & Technology we help you achieve it.
