Artificial technology sounds like developments from 100 years into the future, things that we surely don’t have at our disposal today; in actuality, robots might not be commonplace, but tons of digital marketing strategies are aided by programs that learn over time, helping businesses direct more relevant ads, promos, and other marketing messages to consumers that actually want to see them.
One such application of artificial technology is account-based marketing.
What Is Account-Based Marketing?
Traditionally, marketing tailors messages to broad markets – hence its namesake – rather than to individuals. Businesses typically attempt to classify which demographics are most frequently their customers. Doing so lowers marketing costs while raising the possibility that marketing messages actually reach their intended customers.
Account-based marketing, however, is quite the opposite of traditional marketing, as the process aims to collect information on specific consumers, then tailors personalized marketing plans around each potential customer they’re interested in grabbing the attention of.
What Is Involved In Account-Based Marketing?
In traditional marketing applications, each potential customer’s preferences don’t matter anymore than the next consumer’s. Although bringing the business of each consumer you reach out to, to your business, expecting to do so is naive, as it’s incredibly unlikely to happen – most things, especially with large numbers of people, come in absolutes.
As ABM is typically geared towards a select handful of potential customers that would offer high dollar values if they business was successfully solicited.
Let’s think back to the last time we browsed the world wide web. It’s likely that a social media platform, email account, or other website included a pay-per-click advertisement that was based on a recent website you had visited, keyword you had looked up on Google or another search engine, and so on.
There would be no way for that website to display such ads without the help of artificial intelligence. Further, thanks to AI, many pay-per-click and other ads are tailored just for your Internet usage, and nobody else’s. Without algorithms that center around using the information you’ve made available to websites and other digital sources, marketing wouldn’t be what it currently is in today’s world of advertising. Read more at Wikipedia about Sentient.
How Does Artificial Intelligence Intersect With ABM?
Artificial intelligence isn’t used exclusively for account-based marketing, nor for any other particular function on the Internet. However, as detailed above, there are many advantages extended to businesses that utilize AI in managing marketing responsibilities.
Sentient, a business involved in the creation and development of artificial intelligence tools, urges businesses to understand that personalization is the most integral part of maintaining successful account-based marketing endeavors.
Artificial technology can help businesses identify prospects whose behavior most closely lines up with those of your most average potential customers, something that Sentient helps their clients do.
Nurturing leads is vital to the success of account-based marketing, as gaining the business of just one potential customer can result in tens of thousands of dollars’ worth of revenue, if not significantly more from them.