The spread of COVID-19 shook up the B2B sales economy. Enterprises have been forced to take strategic steps to combat the economic consequences of the crisis and keep pace with constantly shifting customer demand. Amidst this adversity, lessons on the future of B2B sales are emerging.
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If you work at a large enterprise, social distancing might feel like déjà vu. That’s because long before the pandemic, the phenomenon of “corporate distancing” had resulted in poor collaboration among teams, divisions, and product lines. Corporate distancing creates chaos, and it ultimately affects your customers’ journey and makes them feel distanced as well.
For the enterprise, the most persistent hindrance to delivering an enterprise-class customer experience in B2B has been the lack of a single source of truth for customer insights. A hallmark trait of the enterprise organization is its diversification, with inconsistent data spread across a wide range of applications.
Enterprise go-to-market strategies create an opportunity for organizations to scale. However, they also develop complexity and elevate functionality requirements beyond those typically found in ABM platforms, usually designed for SMB or mid-market companies. The Drum has recently joined forces with MRP, bringing together a panel of experts to address much of current ABM “best practice”, shedding light on the enterprise operating environment and providing requirements that marketers should prioritize in their enterprise-class account-based marketing strategies.
Existing account-based marketing platforms have their roots in serving the needs of early-stage organizations. Why? Their needs are easier to solve and are within reach for an early-stage tech startup. These VC funded platforms face tremendous pressure to create short term revenue traction and the inevitable shift to prioritize short term decisions. This pressure results in the development of channel-based, narrow silos of activity we now know as the “ABM Platform.”
The debate over ABM best practice struggles to make sense for sophisticated demand generation teams. Why? For organizations with a wealth of market experience, you already have sizable investments in lead generation, you have multichannel programs, scoring methodologies, and reporting, and adding a new and disconnected strategy and technology is more likely to confuse audiences, break measurement systems, and drive up the cost of acquisition. If you’re an enterprise-class marketing organization, adding a new silo of activity and measurement doesn’t make sense.