One would be hard-pressed to find a medium or large-based company, much less far nimbler small businesses with less than five years old using only traditional marketing strategies. Personal accounts are the name of the game, along with CRM information treasure troves, in tailoring services and goods to increase revenue streams from repeat customers. The why, how and where specific to each customer is now the bread and butter of agile marketing shops.
You’re Going to Get Measured, Get Used to It
Account-based marketing has plenty of proponents. As the focus paradigm shifts from messaging creation to dependable revenue generation, leads and return orders have shot up. That, in turn, has produced concrete results that people can measure and rate performance by. It makes sense from a linear, formulaic perspective (1 + 1 = 2, etc.).
However, creating a successful account-based marketing strategy is not the same thing as running one. And the tools that involve the creation increasingly rely more and more on social media to get the job done right.
If you want direct communication and feedback without filters and interpretations, then social media is going to be your company’s answer. There is no analysis or conjecture what trends might mean. It’s an in-your-face raw response direct from consumers and customers about what you’re doing right or not right in their opinion. Period. So here are three ways to get started incorporating social media into your mix.
Take the Global View First
Who actually does the buying for most companies from their suppliers? The myth is that there is one procurement officer but in reality, most acquisition and buying is done by groups of three to five people. If your business has no idea whom these people are, you’re only communicating with one contact and missing anywhere from 66% to 80% of the rest of the group. In addition, you’re not hearing the personalization of their issues and drives decisions among the others.
Most traditional gatekeeper offices bar access to everyone in the buying group, so simply sending out a mailer or phone call likely won’t work. But social media allows direct access to everyone in a business’ buying team, as well as the public conversations they are engaging in. This can be data-mined for surprising patterns and interests that drive these people’s thinking and decision-making. And it’s free.
Knowing the Issues, Tailor Your Pitch
With the above information in hand from the very people you’re trying to communicate with, your marketing pitch should be tailored specifically to their interests and away from their irritations already stated. Their social media is telling you the criteria desired for acceptable goods and services.
Your pitch should be using that information intimately for an account-based approach. If they have a recurring problem, make sure your pitch has a personal solution to their stated problem on a social media post. There’s nothing wrong with getting personal if it tailors your delivery better.
Forget About the One-Time Sale, Build the Relationship
One thing that Latin American business does well is the relationship. Managers know each others’ family history, personal events, celebrations, relations and more. They connect and they make business personal versus contractual.
While we are not suggesting spying on your prospects’ birthday parties, we are saying your social media approach should build communication lines with existing and prospect customers. Let them a voice, suggest, advice, grieve and comment online and make sure to respond actively in a problem-solving perspective. It’s invaluable marketing insights you will never get from a survey or sales meeting.
A relationship allows people to be personal and honest, and that allows you to tailor their account better for your revenue stream.