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Smash These 3 ABM Challenges using a Customer Data Platform

Posted September 17, 2021

Smash These 3 ABM Challenges using a Customer Data Platform

Posted September 17, 2021

Account-Based Marketing (ABM) sounds exciting – identifying high-level accounts, engaging key decision-makers, turning them into sales-qualified leads (SQL), and the list goes on. 

However, it’s not always that easy, and has its fair share of challenges that often keep B2B marketers up through the night!  Knowing the problem is only half the battle- the  solutions to those problems often hinge on what tools or platforms marketers might use.

Customer Data Platforms (CDPs) are one tool that marketers are starting to leverage. And it’s easy to see why. With a CDP you can fix these three recurring ABM challenges:

  • Poor quality data and insights about your target market, accounts, and contacts that make purchase decisions
  • Insufficient budget and resources for ABM initiatives
  • Sales and marketing misalignment and how that can creates misunderstanding and confusion within your organization 

Nearly 60% of B2B companies say they have unreliable data inside of their systems. And 37% of marketers claim they don’t have an adequate budget and resources, while 32% struggle with sales and marketing coordination. 

So, how do B2B marketers drive effective ABM programs, while tackling these challenges? A Customer Data Platform can help.

The CDP Institute defines CDP as “a packaged software for creating a persistent, unified database accessible to other systems.”

How do CDPs make ABM Campaigns Successful?

By pulling customer data from various sources into a centralized space, CDPs support you with these three weapons you need to implement successful ABM programs.

#1 Data Quality and Insights

CDPs can rely on Artificial Intelligence and Machine Learning to pull customer data out of silos, identify behavioral patterns, and discover unidentified customer and prospect challenges. By cleaning, updating, and enriching your data, a CDP can provide you a unified, real-time, self-service access to your customer database. Using these insights you can reach, attract, and engage with high-level accounts to drive more personalized and powerful ABM campaigns.

#2 Budget and Resources 

CDPs unify siloed and incomplete data from various sources and create holistic and accurate customer profiles. This allows you to identify between accounts that have the highest and least possibility of conversion, enabling you to segment accounts, allocate marketing budget accordingly, and save on resources.

#3 Sales and Marketing Alignment

CDPs allow sales and marketing coordination by collating customers’ data from disconnected systems, unifying your organization’s data, and providing real-time access to a shared platform. Consider a scenario in which sales and marketing data was not connected. A sales rep might reach out to a prospect who had opted out of communication from a marketing email. This can damage your band’s reputation and certainly is time wasted for the sales rep! A CDP encourages sales and marketing to work for the common goal of making ABM successful. 

Choose Your CDP Vendor Intelligently

Choosing the right CDP vendor that fits your requirements can be tricky. The CDP Institute made this process easy by creating the RealCDP certification program. A certified CDP solution must contain the following attributes:

  1. Ingest data from different sources
  2. Capture detailed information from ingested data
  3. Store data without any limitation on storage
  4. Create profile unification
  5. Share data with required systems 

What’s Next?

Utilizing a CDP to augment ABM is incredibly helpful for sales and marketing alignment. As an automated AI-driven tool for capturing, unifying, and organizing data, they can help with better prospecting and account communications. Choose the right CDP vendor and add it to your account-based marketing toolkit for enhanced ABM strategies.

Want to learn more about Account-Based Marketing? Continue with these articles:
1 – Intent Data: The Backbone of Effective Account Scoring
2 – 6 Tips: Lead ABM Engagement with Attention-Getting Content