Account-based marketing (ABM) – and the related technology of predictive lead scoring – is dramatically changing the face of sales and marketing. The difference is like spearfishing when all you’ve known before is dragging a net. It’s much more precise and uses analytical processes to ensure that your efforts are focused on the results your organization needs and your leads are more efficiently converted to sales. For enterprise sales, ABM is critical because B2B sales are much more tightly focused than B2C sales.
Does advertising work? Few will deny that advertising plays an important role in building awareness. The idiom, “out of sight, out of mind,” speaks to the importance of being seen in order to even be thought of. Looking back over the years, however, there’s a strong case to be made that advertising as we know it has been a mixed bag financially. And while emerging forms of advertising improve our ability to target, modern channels are being questioned just as much as traditional media in terms of overall effectiveness. What appears to be certain is, as consumers have greater access to information, the link between an ad’s effectiveness and the intrinsic “compellingness” of what’s advertised is likely to increase.
Averages lie to you. One of our publishing clients looked at the average sell-through rate of its online advertising inventory and noted it was 70 percent. “We can launch a metered paywall, and as long as we do not lose more than 30 percent of our inventory, the lost advertising revenue should be minimal,” they thought.
The consumer goods industry thrived for years on its ability to please the average shopper. From toothpaste to soap powder, it knew how to give people what they wanted – and how to sweeten the purchase with the right price, a tempting discount or a great deal. But for the last decade the sector has struggled to grow – both in terms of revenues and margins.
The world has changed, and consumer goods companies have – by and large – found it hard to adapt. Brand loyalty is harder to come by, as more people shop at discounters or go online for the best deals. Digital disruption has opened the market to new companies with different business models. Recent EY research found 45 percent of companies in the industry were struggling to keep pace with changing consumer needs and behaviors.