You probably know that account-based retargeting is a vital way to rake in additional sales.
In fact, retargeting boosts conversions by 43 percent, when using a platform like Criteo.
But, as a B2B company, you also know that the traditional method for doing so is failing you.
Enter stage right: Account based retargeting.
Among the many disappointments in the world is the reality that most so-called “B2B retargeting ads” are rubbish.
The retarget software tracks an individual who interacts with your brand online by dropping a cookie onto that individual’s IP address, flashing your ads to that person while they surf the web.
That’s great for B2C when you’re attempting to make a sale to each visitor.
But in the B2B world, it’s all about company accounts — not just one person who visits your website from that company.
Think about it. More often than not, you’ll be dealing with gatekeepers instead of decision-makers.
We’re talking about people who don’t have access to the trigger to make a purchase but are doing the research to figure out which companies they should pitch as a solution to their boss.
Account-based retargeting allows you to skip that gatekeeper and start moving your company’s name and key features forward to the boss.
To be most effective with account-based remarketing tactics, there must be a collaboration between sales and marketing.
Note: Want to see which companies have visited your website and are ripe for retargeting? Sign up and give Leadfeeder a try—free for 14 days.
It can be a great tactic to build trust and create positive brand equity.
Conversely, account-based marketing has traditionally been all about focusing on a few companies that are extremely valuable.
Who wants to settle for a handful of vital clients when you can have a few hundred?
With Leadfeeder, it’s possible to take account-based marketing to the next level by scaling it up in a way that would have been unimaginable a decade or two ago.
To be as kind as possible about it, let’s just say that the traditional method of retargeting customers is hogwash for B2B.
The standard system of retargeting customers online was designed for B2C — plain and simple.
Those professionals are chasing down every single person who engages with their brand via social media, newsletters, blogs, or their website.
But that’s not an efficient (or particularly good) way for a B2B marketer to generate leads for their sales team.
Why? Because in B2B you’re targeting a whole company — not individuals.
The truth is that these buying decisions aren’t made by only one person.
Usually, several decision-makers are working together or having others in the company serve up possible solutions to them.
Imagine it this way:
A CTO asks her virtual assistant to research solutions for a problem the company is facing.
Once the assistant has done their research and delivered the options, they’re no longer part of the purchasing process.
Why on Earth would your marketing team waste their time, energy, and dollars on retargeting the virtual assistant?
Instead, you want to be retargeting the CTO and other decision-makers within the company who may or may not have even visited your site yet.
Account-based retargeting allows you to focus your retargeting ads on company decision-makers, rather than gatekeepers.
This works by creating a single company account that includes everyone who works there.
With filters, you can retarget only those with specific job titles or other key indicators of buying for companies.
You can generate a list of companies who have engaged with your brand (the sort of companies that really matter), and create account-based website visitor identification with Leadfeeder.
Though you could retarget everyone, you know that's not the best way.
Instead, you can put your entire ad budget to work retargeting the right people — the decision-makers.
Oh, and, of course, account-based marketing fits in a lot better with everything else you have going on, from account-based selling to account-based marketing strategies.
Because, in the B2B world, it’s all about accounts — we get that.
Though it will always depend on your business and the market, account-based retargeting is a powerful tool because it:
Syncs up the efforts of your sales and marketing teams
Requires you to leverage automation tools to more efficiently use time
Allows you to develop meaningful relationships with key decision-makers
Is highly effective for enterprise-level customers
Account-based marketing is a cross-departmental activity between marketing and sales where new best practices are forged on a daily basis.
That said, some of the most effective tactics never seem to change.
The best account-based marketing tactics to try include the use of:
Website and direct mail personalization
Mutual contacts between team members to connect directly with gatekeepers and decision-makers
Website and direct mail personalization
Though it can be hard to believe, incorporating a direct mail element into your account-based retargeting campaign can be highly effective.
In general, email marketing and direct mail campaigns have about the same response rate. However, it’s been found that direct mail initiatives lead to significantly larger purchases.
In an age where CFOs are swamped with dozens of emails every day, they don’t get that much physical mail. So, your letter stands out.
But if a key decision-maker can tell that they’re getting a generic mailer, you can count on it ending up in the recycling bin without ever being opened.
There are, in general, three elements to your mailer that can be personalized:
The reply card
Personalizing the envelope is vital to the letter ending up on the right person’s desk. If you send it to the company or “to whom it may concern”, it’s safe to assume that it concerns no one.
However, by addressing the letter to the CFO or another decision-maker, it will at least get to the right person.
Personalizing your letter is really the key to your direct mail campaign leading to conversions.
By taking advantage of the information of a reverse DNS search, you can identify what companies are scoping out which solutions you offer.
Armed with this data, you can create a personalized letter that begins by focusing on the specific pain point you suspect they are suffering from.
Such a focused, personalized message creates the one-on-one experience that nurtures leads and helps move prospects down your sales funnel.
Nothing beats a personalized, handwritten note. They’re hard to ignore.
Lastly, make it easy for your prospect to connect with a sales representative, receive additional information, or make a purchase.
Developing role-specific offers is a powerful way to segment your retargeting marketing campaign.
Though the individual needs of a company vary from business to business, the general issues that key decision-makers deal with are similar.
By creating offers specifically designed to target the pain points that a CFO deals with, for example, you're more likely to convert them during a retargeting campaign.
Google sends free AdWords credits via mail to small business owners and agencies.
Because these offers are focused on someone who plays a specific role within a company, it’s easier to create content using language that will resonate with them specifically.
When it comes to retargeting, old-fashioned networking still gets the job done more often than not.
The key is to leverage any mutual contacts your team members have with the gatekeepers and decision-makers of the target company.
These contacts don’t always have to be significantly strong. Even connections on social media platforms can be enough to open a door, start a dialogue, and convert a prospect.
How do privacy regulations, such as GDPR, affect account-based retargeting practices, and what measures should companies take to ensure compliance?
Privacy regulations like GDPR significantly impact account-based retargeting strategies.
Companies need to ensure that their retargeting practices are compliant by obtaining explicit consent from users, maintaining transparency about data usage, and providing options for users to opt-out.
It's crucial to work with legal and data privacy experts to develop compliant strategies that respect user privacy while achieving marketing objectives.
Can the effectiveness of account-based retargeting vary by industry, and if so, what industries see the most benefit from this strategy?
The effectiveness of account-based retargeting can indeed vary by industry.
Typically, industries with longer sales cycles and higher value contracts, such as technology, finance, and healthcare, benefit more from account-based retargeting.
This is because these industries often involve decision-making by multiple stakeholders, and retargeting can help keep the product or service top-of-mind throughout the decision process.
However, businesses in all sectors can tailor account-based retargeting strategies to fit their specific audience and market dynamics.
With 80 percent of the buying decision made before someone engages with your brand, plus 98 percent of potential customers leaving without making a purchase, retargeting is essential.
By setting up an account-based remarketing initiative, you can be more effective in engaging with key decision-makers at companies that need your products or services.
Note: Want to see which accounts have visited your website and are ripe for retargeting? Sign up and give Leadfeeder a try—free for 14 days.
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