Every marketer out there knows the importance of data. Clean, accurate and insightful data can help drive efficient processes, enhance results and significantly affect buyers’ and sellers’ journeys.
Every Marketing strategy, if not already, should be based on smart data-based decisions and it is a marketer’s job, among other things, to make sure that data is not only appropriate but also purposefully organized and easily accessible to other teams. This can be done not only with the help of the Marketing Automation tools, CRM tools, etc., but also with a few insightful techniques like matching Leads to Accounts.
Account Based Marketing (ABM) is a strategy where companies focus on key accounts that are most likely to convert to an opportunity or are their target for other reasons. Companies then create personalized marketing campaigns for these accounts, having in mind, the specifics of their industry and position in the market. This is becoming a focus of companies who proactively think about their buyers and how to reach them in a manner that is relevant to them.
ABM strategy on its own is just a set of words if we do not have the right Accounts identified or the full vision of the Accounts activity is not provided. This is what Lead to Account matching caters for – identifying which leads should belong to what Account which in return helps with lead routing, funnel movement and overall lead management.
Many CRMs are still dividing the database into Leads and Contacts with Contacts being the only ones directly linked to the Accounts. Doing this, companies are constantly losing great insights into how their potential buyers behave, what their interest is, and who the key decision makers are.
This is where choosing the right tool comes into effect. It is an imperative to choose the option that provides the best insight, is easy to use and allows for transparency of process. RingLead sets companies up for success by allowing them to successfully match Leads to Accounts. With its help, companies can escape the traditional route of focusing only on Contacts and provide their Sales teams a cohesive, holistic view of all the individuals within a target Account.
What happens when Marketing builds on value that comes from meaningful data based on the Lead to Account matching technique?
First, Sales and Marketing collaboration turns into continuous synergy
It is no secret that Sales and Marketing departments can have a competitive taste to their relationship. This normally happens due to poor lead attribution and a lack of clarity of ownership and process. Nowadays, quick, agile responses are a key to success as people are used to getting things in the “now”. Companies that are able to look ahead and have all of their departments collaborate ultimately benefits from the synergy that comes out of it.
Therefore, matching Leads to Accounts will help businesses focus on the right individuals within an account who have actual buying power which in return shortens the Sales Cycle. Time spent searching for the right person to contact and endless phone calls/emails that end up in the wrong inbox will completely decrease which in return also improves the buyer’s journey as they get contacted promptly and efficiently.
Marketing and Sales are also able to align their goals better and work together on pipeline, pre and post buyer journey path and create targeted campaigns with the information relevant to the Account.
Second, buyers’ journey experience improvement
Business-to-Business companies often lack smooth sailing from the start of the journey to the purchase. It gets interrupted by a lack of the right information in the right moment but also constant delays in decision making. Having the strategy that targets one Account and all of the people within it correctly can boost the company’s brand which is what good data overview provides. It is all about the momentum.
Contacting people that actually want to hear from you is the ultimate win-win scenario for the new age businesses. Strategy of throwing it all out and seeing what sticks is outdated. Marketing to Accounts is ultimately about people. Lead to Account matching allows companies to not only view Leads and Contacts within the Account together but also to use that view in placing the Contacts in the right nurturing track and contacting them appropriately.
Third, clean and insightful data leads to thriving Marketing Strategies
Sales teams are so used to checking several pieces of information within the CRM in order to get the full information needed for their call with prospects. More Leads does not mean quality Leads and Matching will help Sales see everything they need within the Account without creating duplicate records. Matching Leads to Accounts provides some Account information (company size, industry, etc.) on a Lead level and Lead information on an Account level which makes things more organized and overall helps Sales and BDR teams do their work effectively!
Companies that get this right are able to identify people that may have been missing from the Account and are crucial. This can increase the chances of making that deal sooner rather than later. Not to mention that this unique data view improves Account scoring and positively affects (maybe even revamps!) your Lead scoring. This in turn leads to profitability as cross-selling and upselling within the account becomes easier given the bird eye view we get from this.
Finally, ROI all around
Account focused organizations that have the right processes and tools to support this strategy will and have always been reaping better results than reactive organizations. It has been found that they may have up to 85% higher ROI compared to companies that are yet to adopt this strategy. That ROI is realized quicker as the sales cycle shortens significantly. ROI does not also come only in the form of the revenue but also increased, engaging lead response and more meaningful touchpoints that affect all future dealings with prospects. Having a full view of the Account also helps us ensure that each touchpoint is attributed to the right team in the company and more importantly, connected to the revenue.
Lead to Account Matching directly influences Sales and Marketing productivity which many would say is a mother of success. Adopting this data driven mindset and applying it to your other strategies can potentially revive your go to market strategies. What a Return on Investment indeed!
Overall, it is no secret that companies are constantly looking for ways to be innovative in their Sales and Marketing methods. This is one of the needs of the future organization – to adapt to what the market needs and being able to cut through the communication noise we all face nowadays. Closing this gap in the Revenue Operations cycle will ultimately ensure that all leads are followed up and all accounts penetrated through individuals who are responsible for making decisions. Match your leads to your accounts – your company and your ABM strategy will be better for it and truly flourish.