Whether you call it a dreaded “recession” or economic downturn, it’s vital that B2B brands look to the future for GTM success in 2022 and beyond.
As companies are forced to slash budgets, it’s more important than ever to focus where ROI is quantifiable and consistent.
The future of thriving in a recession is here, and it’s Account-Based Experience (ABX). Reachdesk co-founder and CRO Alex Olley share his expertise and insights on evolving from ABM to ABX to align your marketing, sales, and customer success strategies and drive success, even with budget cuts and economic uncertainty. Read on for a summary of this session…
In 2009, people were spending money on things that made them feel good like lipsticks and chocolates. History doesn’t repeat itself but it does rhyme and this is something we can learn from.
ABX is more than just an acronym, we need to think about the experience. We should be asking ourselves ‘what experience do we want our customers to feel’.
What Is ABX?
ABX is a go-to-market strategy that uses data and insights to demonstrate relevant, trusted marketing and sales actions throughout the B2B customer journey.
It combines the engage aspect of inbound marketing with the precision and targeting of account-based marketing. It’s about creating personal experiences.
So, Why is ABX relevant?
We’re in a world where it’s so easy to buy. And we need to make buying frictionless and easy to create experiences.
It’s important to think about your customer and not your business so you can create experiences that matter.
We love gifting and we also love receiving gifts and this is why eBooks and free resources work so well. Gifting helps glue it all together.
How ABX Gets You Better Leads
Traditional GTM processes and technology are designed around the lead, or the individual customer who moves through your funnel until they are considered "marketing qualified leads" (MQLs), at which point they are handed over to sales like a baton.
This is where ABX comes in
Traditional ABM, however, concentrated on finding valued accounts and making an effort to contact them, regardless of the situation or whether they were even interested in hearing from you.
And buyers hate that particular style of client service.
ABX all comes down to appealing to business buyers on their terms.
ABX is a fundamental, customer-focused reimagining of how businesses approach their target markets.
With a strong foundation in focus on the customer at every stage of the buying cycle and the use of intelligent insights to determine when, how, and what to speak to each account.
Getting Started With ABX
Taking it slow helps you learn and adjust, and it makes getting buy-in much easier.
Because ABX is all about getting the right prospects, start by taking time to learn more about the individuals you’d like to contact.
Strong customer connections take time and money to develop. As a result, you cannot target every account you mention. According to the eligibility and worth of the specified account, the targeting needs to be prioritised.
Spending more time and money on nurturing connections with accounts that are more valuable is a good idea. As a result, your chances of conversion, retention, and customer lifetime value will all be maximised.
ABM only allowed for customisation of the content sent to an account's key decision-makers. The entire client experience is personalized using ABX at every level.
The Benefits Of Personalisation
Offering personalisation through content is useful, but for ABX, expanding it to the user experience is essential. Developing relationships with customers calls for some personalisation. Personalisation is necessary with ABX as several decision makers interact with the purchasing journey.
Additionally, it is necessary to provide this customised client experience from the marketing phase to the customer success phase.
Deliver moments that matter and go beyond the traditional sense that we’re used to. If you’re writing a follow-up email post event, put something personal in the email and invite them for coffee and a catch-up.
Utilising tailored marketing and building lasting relationships with customers by coordinating sales, marketing, and customer success is a winning formula.