AW: “It’s our job to define and articulate relevance, differentiation and value creation. Sales did a lot of that in the past, so it’s a new muscle for us. Account-based marketing is the mechanism by which to do it. It’s about thinking deeply about the client and how you present [your business] to that client in a language they understand, and in a phased manner – don’t try to give everything at once. Marketing has a huge role to play in how we do that creatively and executive it strategically.”
AL: Relationships are critical in $3 million+ investments. What is marketing’s role in building client relationships?
AW: “Creating loyalty and engagement programmes is a part of ABM. Wherever you have valuable insights, your client probably wants to hear it. But, it’s hard to communicate with an accounts’ worth of people all the time about things that interest them. So, how do you take insights, learning, points of view, and package them so that they are relevant for the customer? We’re looking to have a whole dedicated digital channel for top accounts, so creating almost an on-demand Capita for them. I’m happy to come back in six months and tell you how it’s gone.”
AL: What was your biggest takeaway from the Customer Buying Index?
AW: “The concept of a “distressed buyer” – that your clients are actively seeking partners to help them to solve extraordinary challenges and their demands not being met – is philosophically sad, I think. But, [the report is] a good wake-up call. The 14 percent [of clients] that say they would give five out of five to vendors understanding their business is a clear call-to-action for sales and marketing. You could swarm into that now and come up with some exciting and innovative ways to help those distressed customers.
“The second point I found very interesting was the 77 percent that say they don’t feel like their vendors are communicating frequently enough. We all worry – are we over-communicating, are we inundating people – but actually there’s actually a huge amount of permission there. That’s a very exciting challenge for marketing in particular.
“Now is the time for marketing to step up as an equal player in service of the client. Account-based marketing has been having a moment for a while, but this [survey] is a sudden call from the client to say, ‘we need ABM more than ever’.
“There is a lot of richness in this report. It has become a call to action for me. There are some urgent needs we should be addressing right now. It’s a great report.”
Footnote
The Momentum ITSMA Consumer Buying Index™ is a regular pulse-check on trends in the enterprise from current buying cycle, providing a unique rolling picture of buyers’ expectations to provide insight into which sales and marketing strategies are contributing to revenue growth.
The Index brings together data from CxOs at a representative samples of the world’s 2,000 largest companies, who we quiz in detail about recent $MM investments. The insights it generates help us build strategies and programs that increase our clients’ chances of success.