What is normal is called the new normal these days. Many companies are conserving cash. Marketing budgets are shrinking. No in-person trade shows. Maybe remote work would have been normal in ten-twenty years. COVID-19 accelerated the future.
So, how is ABM marketing transforming?
Rethinking the Target list: Many industries like airlines, hospitality/hotels are not buying. Also, many other industries have reduced budgets. So, revisiting your target list is a good idea. Buying decisions are conservative. So, adjusting company’s targets and lowering expectations is a worthwhile task.
More importantly, it is important to revisit messaging for changing customer pain points and evaluating how it is working will help set new goals. And then plan around those goals.
Extreme Value: We have been working on customer value for years. However, this is an era of extreme value. Add more fire power to your customer service, product capabilities, sales and marketing experiences. Awareness of changing customer concerns and building deeper relationships is more important than ever. Many companies are offering steep discounts and adding value by giving services for free.
Put the Swords Down: Sales and Marketing need to align better. Get into a room and figure things out on how to serve the customer and make sales and marketing processes more relevant and focussed.
Meaningful Engagement: Companies who have not focused on digital experiences have to speed up their efforts. Focus on customized thought-leadership content campaigns delivered with agility and resilience will drive meaningful engagement.
Video Messaging: Personalized videos is the new way to communicate with your key target and prospect accounts. More personalized videos in the sales process can be effective and add value.
Also know the change is happening rapidly. What worked last month may not work in three weeks from now. Being proactive and stopping evergreen campaigns and testing new offers will be effective. So, always keep experimenting and aligning with the market.