As business to business (B2B) programmatic spending rises and audience targeting is more widely adopted, marketers are taking advantage of different marketing tactics to find the business decision makers at the right time, right location, right price point on the device of their choice. Here are a few tactics (laden with acronyms!) that programmatic buyers can take advantage of today to keep their messaging relevant and impactful.
In the marketing of complex business solutions, account-based marketing plays a key role in expanding business within existing customer accounts (where, for example, wider industry marketing would not be targeted enough to appeal to an existing customer). It is not uncommon in B2B marketing for the initial sale to take several months. Many B2B marketers report account-based marketing delivers an increase in the long-term value of the customer. ABM can also be applied to key prospect accounts in support of the first sale. The Information Technology Services Marketing Association (ITSMA) shares the example of an aircraft engine manufacturing company that employed ABM to aid in the completion of a successful $2 billion deal as well as the strategy used at a large energy company to drive a $24 million deal.
Research demonstrates that buyers are looking for their existing suppliers to keep them updated with relevant propositions, but are often disappointed with this. Research also demonstrates how much easier it is for organizations to generate more sales from existing customers than from new customers – 77 per cent of decision-makers say that marketing from new suppliers is poorly targeted and makes it easy to justify staying with their current supplier. By treating each account individually, account-based marketing activity can be targeted more accurately to address the audience and is more likely to be considered relevant than untargeted direct marketing activity.
Software development kits (SDK) are also playing a larger role in personalized messaging. SDK’s enrich applications with advanced functionalities, advertisements, push notifications and more, most app developers implement specific software development kits. Per mParticle, a leader in customer data platforms, “… SDKs can serve a variety of purposes. There are SDKs for payment processing (such as Cardio, Paypal, Braintree, Stripe, Venmo) and SDKs for user login and authentication (such as Agilebits, Google SignIn, 1Password). Roughly half of the SDKs in apps are marketing and customer experience related, addressing needs such as analytics, attribution, A/B testing and user engagement.”
Location-based geo-targeting will continue to play and impactful role in the future of digital advertising. With the dawn of geofencing, marketers now have the ability to advertise specifically to potential customers within a certain geographic radius. This technology uses a combination of GPS and RFID to isolate the radius and empowers beacon technology to serve up the most appropriate message. While geofencing has been around for a while, the popularity of smartphones has made it even more powerful. Mary Vestewig of Extreme Reach, a cloud based TV and video platform shares, “In an era of mobile devices, where nearly every consumer walks around with a location-aware smartphone in their pocket, more marketers plan to increase their spend on geo-targeted campaigns. In fact, recent research by BIA/Kelsey estimates that US spending on location-targeted mobile advertising will grow from just over $12 billion in 2016 to $32 billion in 2021.” And it makes perfect sense, geo targeted advertising provides the unique opportunity for advertisers to reach their audience while they are on the move. Harnessing the power of location can drive true value and personalized experiences for your customers and prospects. While many might see this as a B2C tactic, B2B markets can help boost relevance looking at time spent in certain locations coupled with other data points including more traditional firmographics to serve up hyper-targeted, even language-based personalization.
While leveraging any of these tactics may require some customization, getting the most relevant message to the right audience in real time is essential. When possible, it is important to spend the extra effort up front to cut through the clutter while creating a better user experience for prospects and existing customers alike.
VP, Digital Services