We had what I thought was an unbeatable combination: a fully-vetted Big Data tech platform (web buyer ID) powered by two successful marketing careers…client case studies out the wazoo from the Host Company plus assists on major sales calls from our partner Co. We would be ‘first-in’ and exclusive to our region – the entire Midwest. Also, my biz partner and I’d known each other for years and weren’t worried about the prospect of putting our shoulders to the collective grindstone because we so clearly saw light at the end of the tunnel.
We also had what’s not exactly an insider’s tip: The Kaufmann Index of startup activity had awarded our state last place two years in a row but we didn’t let that faze us.
We were certain we simply could not lose. Or so we thought.
The old traditional “spray and pray” method of broadcasting your brand’s message in hopes the right customer will see it is now officially dead.
Why? Because we’ve gained the ability to deliver in real time, hyper-relevant content to only those possible buyers who are showing a significant, measurable interest in your brand. They are literally ‘binge-watching’ information about your product and we can see these behaviors and then message directly to them.
For marketers to gain a competitive advantage in today’s playing field, we must evolve past legacy inbound marketing practices. The good old days of buyers filling out forms and identifying themselves to sellers are fading into the sunset. Inbound is not going away but it is now just one of the elements in a successful and comprehensive sales and marketing plan. This new model of marketer who integrates buyer intent data, marketing automation, CRM platforms and programmatic media will be the winner in today’s business environment.
The legendary Cubs player, Ernie Banks, was once asked what’s different about today’s baseball. He said, “It’s a lot different. There is a lot of information that you need to know about as a player. How pitchers are pitching you, how defenses are playing, certain situations about certain pitchers.” He’s absolutely right. Nowadays teams use data to bring the edge to their teams.
Simply put, Intent Marketing studies where the fish (aka customers) are, what they have been nibbling on and what they’re hungry for. Knowledge this powerful lands the biggest fish with the least amount of effort and translates to improved efficiency, effectiveness and ROI…and a tasty fish dinner or two. You will win more business faster with reduced marketing spending.
We are no longer in the advertising business - we are data-driven developers and distributors of highly personalized, relevant customer experiences.
As we are very active in building and supporting successful start-up and entrepreneurial ecosystems, this piece really hit home for me. Here in Wisconsin I keep hearing “talent … talent … talent” in regards to what is the most important thing in regards to attracting people and companies. A focus on educating and training people is a much more effective strategy than simply cutting taxes and regulations. “It’s the talent stupid.”
How can you build up your innovation assets?
The success of the ABM approach hinges on its ability to maneuver the complexity of the B2B customer journey. Usually a lot of players are involved in making important purchasing decisions. ABM effectively targets this ecosystem and identifies the key decision makers to begin the customer acquisition process, all while optimizing resources and efficiencies.
In the past few months we've had countless discussions and presentations revolving around Big Data, Intent Marketing, Predictive Analytics, Account Based Marketing and other things that data geeks such like us are very involved with these days. More often than not, we find ourselves stopping to define or explain the terms or even worse the countless acronyms we use. So, as an act of selfless public service we’ve aggregated the following definitions to make life somewhat easier for ourselves, Harvest Strat and those people and businesses we cross paths with. We sincerely mean this to be a wiki or “living document” that is consistently added to and edited.
Feel free to chip in.
"Data driven marketers know that data can and should be utilized across the marketing/sales continuum – but it is more about data orchestration than a score, a tactic, a lead or anything else. Therefore, one button, add water and stir does not consider any of the cause and effect across all the communications and transactional channels that marketers rely on."
"Forrester has stated that we are now in the “age of the customer.” Buyers expect and demand to find all the product information, use cases and user reviews needed to make an informed purchase online prior to making a decision. Even in B2B, approximately 80% of buying decisions are done online - prior to reaching out to a potential vendor. This means that marketers need to be serving up relevant content to buyers as they travel along the path to purchase. "