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 account-based marketing strategy.
Tony Yang, Vice President of Demand Generation at Mintigo, had a full audience for his presentation on predictive analytics at the #FlipMyFunnel Conference, as our own marketing “Terminator” Eren Matsota wittily noted.
— Eren Matsota (@ErenMatsota) June 7, 2016
Here are 5 ways predictive analytics empowers account-based marketing.
— Aberdeen Group (@aberdeengroup) June 7, 2016
1. Predictive analytics identifies the accounts that are 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. Predictive analytics helps marketers personalize their value proposition.
Account-based marketing is all about delivering messages that contacts in your target accounts will actually care about. Making your message meaningful is much easier if you have the insights to know who you’re targeting and what they’ll respond to.
3. Predictive analytics helps sales and marketing teams find net new contacts and accounts.
Your CRM is already chock-full of companies, and using predictive analytics to profile these accounts allows you to find companies that are similar and fit within your ICP.
4. Predictive analytics enables more intelligent engagement.
Predictive analytics helps you understand 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 and the other solutions in the Account-Based Marketing Cloud.
— Terminus (@Terminus) June 7, 2016
5. Predictive analytics reduces churn and find opportunities for cross-sell and upsell.
For B2B companies, losing customers (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 ensuring that potential clients fit your ICP criteria. If you know a company is a great fit, on the other hand, you can use this information to generate new sales opportunities, cross-sell, and upsell.
Note: With account-based marketing, a cross-sell is when you sell the same product or service to other contacts within the same account. An upsell is when you sell an upgraded version of the product or service to the same contact in your account.
Want to learn more about ABM?
If you’re intrigued by Tony’s thoughts on predictive analytics and account-based marketing, we’ve got just the e-book for you. Click here to download The Beginner’s Guide to Account-Based Marketing for insights on how to drive more revenue and build better customer relationships with ABM.