Account Based Marketing (ABM) has proven to outperform the traditional marketing strategy like cold calling or email marketing. Modern customers expect a high level of personalization and relevance in communication and ABM has shown the best results among other strategies.
However, ABM journey is complex and involves lots of moving parts. Once, you have defined your ABM strategy you need to continually monitor its execution. At first it needs to position you as a expert and trusted partner to your target audience, generate demand from your target accounts, connect and qualify the members from your buying community, leverages engagements and buying signals to activate accounts. At first you need to understand how your customer buys, explore all his public announcement, posts, interests and virtual events to map what would be interesting to offer him at the moment and how should you pitch to him. You need to then show yourself as an entity with expert knowledge in the field and gain his trust with the correct content and communications. In this next step you could organize an interview with the prospect and understand more about his pain points, which would later help you in channelizing your offer to him. This interview could give enough ideas about specific pain points and his willingness to buy a suitable solution which solves his problem. Finally, after all the above steps the offer could be made which has a high chance of acceptance based on the research work done previously with account based marketing. Now, the offer would be hyper personalized and has the best chances of conversion. As you see from the above steps, each step in the account based marketing has its own process like demand generation process, creating your relevant social image with contents, building relationship with your prospects, connecting and qualifying process for prospects. Each of these steps need to be carefully monitored and controlled any wrong or irrelevant communication will damper your relationship and your image with your potential customer. Process mining is the go to tool for this task to check if process conformance is achieved. It will give you an exact picture on how well your ABM strategy is working, where are the bottlenecks and how it can correct if possible by automation. You can at any time measure the performance of your marketing activities. Also it resolves the problem with data silos and bring the relevant information in one process mining platform, brining in full transparency of your ABM activity across all your prospects. Common problems like high number of reworks, total execution time of the process and unwanted variations of the process can all be caught. This kind of overview is very helpful to know where the execution problem in their ABM strategy exists. It is difficult to get this kind of transparency when multiple departments are involved in a particular process. For example, the interaction between content and marketing department, Analytics and marketing,. Etc. is needed to complete the process this could create gaps or there could be some misunderstanding which would get unnoticed which would slow down and create inefficiencies in the overall end to end process resulting in bad customer experience. We need to ensure the customer has a pleasant experience across all touch points and faces no friction in the entire ABM journey which is a challenge without process mining. After all, there is a considerable amount of money and time spent behind the ABM strategy and process mining is a tool which helps you find the root cause behind inefficiencies in your execution of ABM strategy and helps you in controlling them repetitively. Ensuring proper utilization of your investment in ABM strategy.
Contact us today if you want to increase productivity and improve optimization with process mining along with identifying opportunities for automation.