In a survey conducted by Demandbase, an Account-Based Marketing (ABM) company, as many as 80% of marketing executives said they believed that AI will revolutionize the marketing industry by 20201. AI applications are already transforming various aspects of marketing. Harnessing AI to power your ABM efforts can produce amazing results. Question is, how do you leverage AI in ABM? Here are four ways in which AI can help.
Identifying the right accounts
An AI tool can be of immense help in the account selection process. It can help you identify accounts based on criteria that you set. Besides basic criteria like revenue, headcount and sector, an AI tool can be used to track intent data to identify accounts that are actively evaluating solutions in your product category, or perhaps reading up on your competitor.
In your list of criteria, remember to also include elements for excluding a prospect. This could, for instance, be based on parameters that predict their likelihood of churn. An AI tool can analyse large data sets to shortlist accounts that you could finally go after.
Harnessing data and analytics to understand the customer journey
Having identified the right accounts, AI can help you track the online behavior of those accounts and their individual stakeholders. You can set up triggers to monitor your account list. This could be in terms of activities involving acquisitions, divestments, restructuring; budgetary and human resource reallocations; and executive promotions, hires and separations.
AI will also help you to understand the customer journey of individual stakeholders within these accounts by covering their digital footprints and online activities.
Personalizing and hyper-targeting your content, ads and campaigns
Once you’ve profiled individual stakeholders, you can use that information to sequence and deliver content that you know they would be interested in at any given point in time; create outbound campaigns based on what stage of the customer journey they are in; and personalize their website experience. You can also develop account-centric campaigns that nurture and move your customers through the sales funnel.
AI works with algorithms that process huge volumes of historical data gathered on how your prospects engage with you, enabling you to hyper-target them with not only your content, but also your ads and campaigns.
Scaling your target account list without compromising personalization
The strength of ABM lies in the fact that it equips B2B marketers with more in-depth knowledge about their prospects and customers than other marketing methods. Were that kind of data collection left to human effort alone, it would severely limit scaling up, owing to the highly effort-intensive nature of the task. But because AI can crunch numbers at incredible speeds and with an accuracy far exceeding human ability, you stand to gain significant insights for those crucial one-on-one conversations with your prospect or customer, regardless of whether you’re targeting 10 accounts or 100.
AI could be the next big thing in ABM. As more organizations start integrating AI into their ABM efforts, we can hope to see a radical change in the way accounts are targeted and won.