Editor’s note: this post was originally featured on the Funnelholic blog in November 2015.
As marketers, one question we always ask ourselves is “How do we expand our reach?”
For years, B2B marketing teams struggled to cast a wide net to as many people as possible to pour leads into the top of the funnel. Now – it’s time to flip that funnel on its head with account-based marketing.
The #B2B #sales & #marketing funnel is dead says @sangramvajre. It’s time to #FlipMyFunnel
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Once your sales team has done the work to identify target accounts (perhaps supplemented by one of the many account-based marketing technologies), it’s the B2B marketing’s job to take that list of accounts and engage with them. This is where account-based marketing comes into play.
The second stage of the flipped funnel is “expansion,” which is what I want to focus on in this blog post. The Expand stage involves maximizing your reach within the list of target companies and influencers identified during the previous stage.
In the B2B game, we often hear an analogy about how marketing is like going fishing. Knowing where trout are in a stream is a great first step toward identifying and catching the exact type of fish that you want, but how much easier would your job be with a fish finder? Not only can you see where the fish are located — you can also get more insight into the size of the fish so that you know you’re on the right track.
With #ABM – it’s like going fish finding with a laser beam. #ABM is laser-focused #B2B #marketing,…
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This is the main point of this blog post I want to address, as this is likely the toughest stage for marketers who are used to traditional lead-based marketing, where the expansion process begins by choosing a set of channels instead.
Think about account-based marketing as your fish finder, except instead of using sonar-based technology, you’re using cookie- and IP-based targeting to track your target customers on the channels that they’re actively using. This allows you to target your marketing messages to your best-fit customers on the channels where your ads are most likely to be seen, whether that’s social media, display advertising, video, or mobile.
With this kind of IP-based tracking in place, you can do more than target individual leads — you can open the door to entire accounts. This is particularly important for modern B2B marketers given these two facts:
1. The length of the sales cycle is growing longer
2. Purchasing decisions now involve more stakeholders than ever
In a survey of B2B marketers conducted by Carat Enterprise and Google, 76% of respondents indicated that it takes up to 6 months to research and make a purchase. This study also revealed that 33% of B2B decision-making units contain up to 10 people, and more 50% contain up to five. To top it off, according to the Buyersphere Report 2015, CEOs are involved in 38% of B2B buying decisions. That’s a lot of contacts in an account to try and build a relationship with.
CEOs are involved in 38% of #B2B buying decisions, according to the 2015 #Buyersphere Report @TLC…
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The good news is, with account-based advertising, your company’s marketing messages can be placed in front of all of the decision makers within an account. That way, when a pitch for your product is escalated to upper management, that brand awareness is already present.
Want to learn more about account-based marketing? Download our #FlipMyFunnel ebook now.
The post Expanding the New Frontier of Account-Based Marketing appeared first on Terminus.