To be successful with account-based marketing, you must have good data.
Predictive analytics is more than just a buzzword for the B2B industry. Good data and insights help marketing and sales professionals to target the accounts that are the best-fit for their respective businesses. Finding target accounts can be a time-consuming and difficult process; luckily for B2B marketers, this is where predictive analytics comes into play as an essential piece of a successful #ABM strategy.
Tony Yang, Vice President of Demand Generation at Mintigo, had a full audience for his presentation on predictive analytics at #FlipMyFunnel, as our own marketing “Terminator” Eren Matsota wittily noted…
— Eren Matsota (@ErenMatsota) June 7, 2016
Here 5 ways predictive analytics empowers account-based marketing
— Aberdeen Group (@aberdeengroup) June 7, 2016
1. Identifies the accounts most likely to buy
Your ideal customer profile (ICP) includes the company size, industry, and other factors for determining if the account is a best-fit for your business.
2. Personalize your value proposition
Account-based marketing is all about delivering messages which contacts in your best-fit companies will actually care about. Making your message meaningful is possible if you have the insights to know who you’re targeting.
3. Finds “net new” contacts and accounts
Your CRM is already chockfull of companies, and using predictive analytics to profile these accounts allows you to find companies which are similar and fit within your ICP.
4. Enables more intelligent engagement
Predictive analytics helps who you with knowing who to target and which message you want to deliver to have the greatest impact; from there, engagement is possible through a number of account-based marketing tools such as Terminus.
— Terminus (@Terminus) June 7, 2016
5. Reduces churn and finds opportunities for cross-sell and up-sell
For B2B companies, losing customers or “churn” can commonly occur if the client wasn’t the right fit for your business from the get-go. Predictive analytics helps to prevent churn by knowing your new customer aligns with your ICP criteria. And, if you know this company is a great fit, and can help to generate new sales opportunities to cross-sell and up-sell.
Note: with account-based marketing, a cross-sell is when you sell the same product/service to other contacts within the same account. An up-sell is when you sell an upgraded version of the product/service to the same contact in your account.
Tony’s session on predictive analytics was one which every B2B marketer should hear. We’ll be replaying all the sessions from the #FlipMyFunnel Festival at our next Virtual Summit in the near future. For now, keep following #FlipMyFunnel on Twitter.
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