Brands often invest a significant amount of money in large-scale campaigns in industries such as retail and consumer packaged goods (CPG), only to see minimal traction, lost opportunities, and leads that fail to convert.
The challenge? Reaching the right decision-makers at the right time with the right message. Account Based Marketing (ABM) is a game-changer in this situation.
ABM focuses on high-value targets rather than covering the entire globe, building customized campaigns tailored to the unique needs of key accounts. This precision approach has emerged as a potent strategy for B2B lead generation companies looking to drive growth in the retail and consumer packaged goods industries.
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This article explains how B2B lead generation agencies leverage Account-Based Marketing (ABM) to achieve measurable success in these industries, delving into the specifics, benefits, and practical examples of its implementation.
The Need for Targeted Marketing in Retail & CPG
In the Retail and CPG industries, companies often handle high volumes of transactions, a diverse array of consumer preferences, and complex distribution channels. Traditional marketing methods—while still effective—can sometimes result in wasted efforts and resources due to the broad targeting.
For instance, a retailer or CPG brand may invest heavily in advertisements only to find that a large portion of their audience isn’t ready to make a purchase or isn’t the ideal demographic for their products.
This is where ABM excels. Instead of casting a wide net, ABM enables B2B lead generation agencies to focus their efforts on a select group of high-value accounts—companies that have a higher probability of converting into customers. In fact, a study by Demand Gen Report found that 85% of marketers using account-based marketing (ABM) reported a significant increase in their return on investment (ROI) compared to traditional marketing strategies. This is particularly relevant in industries such as retail and consumer packaged goods (CPG), where the customer journey is often lengthy and complex, involving multiple decision-makers.
Understanding How B2B Lead Gen Agencies Leverage ABM
1. Identifying the Right Accounts to Target
The first step for any lead generation agency implementing ABM in retail and CPG is identifying the right accounts to target. This involves understanding which companies would benefit most from the client’s products or services. In industries like Retail and CPG, agencies typically focus on accounts such as:
- Large Retail Chains: These may include grocery chains, big-box stores, and specialty retail stores that cater to specific consumer needs.
- CPG Manufacturers: Brands that produce goods in bulk for retailers or distributors, such as food and beverage, health and wellness, and personal care products.
- Wholesale Distributors: Companies that sell products to retailers or other businesses, offering a direct channel for manufacturers to expand their reach.
- E-commerce Giants: Platforms like Amazon or niche e-commerce stores that cater to specific consumer needs, providing a different touchpoint in the sales funnel.
A B2B lead gen agency may use a combination of market intelligence tools, CRM data, and client input to create a list of target accounts. This data-driven approach ensures that the accounts selected for ABM are highly likely to benefit from the offering.
2. Deep Profiling for Tailored Campaigns
Once high-value accounts have been identified, the next critical step is in-depth profiling. At this stage, B2B lead generation agencies delve into the specifics of each targeted account, including understanding the business model, identifying pain points, key decision-makers, and learning about the challenges each account faces in the retail and CPG sectors. This in-depth research includes:
- Company History & Mission: Understanding the company’s core values, mission, and business model is crucial for tailoring messages.
- Decision-Maker Mapping: Identifying key decision-makers within the organization, such as procurement officers, CMOs, or e-commerce managers.
- Pain Points: Retail and CPG companies face distinct challenges, including supply chain management, consumer trends, and omnichannel sales. Profiling helps agencies to align their offerings to solve these issues.
68% of B2B marketers report that deep account profiling results in a more efficient ABM campaign, as it enables the creation of hyper-targeted content that directly addresses the needs of each account. This is particularly important in retail and CPG, where stakeholders often make decisions based on multiple criteria, such as cost, innovation, and market positioning.
3. Crafting Highly Personalized Content and Campaigns
One of the key tenets of ABM is delivering personalized, relevant content to the target accounts. Lead gen agencies understand that generic outreach simply doesn’t work when dealing with high-value prospects, especially in the retail and CPG sectors. Agencies typically craft highly customized content that addresses the specific needs, goals, and pain points of individual accounts. This personalized approach can take several forms:
- Tailored Emails: Direct, personalized messages that address the specific challenges of the account. These emails often include customized offers or solutions that align with the account's business objectives.
- Content Marketing: Custom whitepapers, case studies, or blog posts that specifically highlight how the lead gen agency’s client can provide value in areas like inventory management, consumer engagement, or supply chain optimization.
- Targeted Ads: Using digital advertising platforms such as LinkedIn or Google Ads, B2B lead gen agencies can target ads specifically to the decision-makers at these high-value accounts, ensuring that the messaging is highly relevant.
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Research from ABM Leadership Alliance found that 80% of marketers see a significant increase in engagement from their target accounts when content is personalized. Retail and CPG brands are particularly receptive to tailored messaging because of their diverse consumer bases and dynamic business environments.
4. Building Relationships with Key Stakeholders
In retail and CPG, decisions are rarely made by a single individual. There are multiple stakeholders involved in every purchasing decision, ranging from product managers to senior executives. One of the most important aspects of ABM is building relationships with these key decision-makers over time.
For B2B lead gen agencies, this means nurturing these relationships through various touchpoints:
- Webinars & Events: Hosting events, whether in-person or virtual, where experts can discuss relevant issues in the retail and CPG industries. This helps in positioning the agency’s client as an industry leader while fostering connections.
- Consultations & Demos: Offering one-on-one sessions or product demonstrations to key decision-makers, giving them a closer look at how the agency’s client can solve specific problems.
- Social Media Engagement: Engaging with decision-makers on platforms like LinkedIn, Twitter, or even niche industry forums, where discussions about trends, challenges, and innovations in the retail and CPG sectors take place.
Effective relationship-building through ABM has been shown to increase the likelihood of closing deals by up to 50%, with 82% of marketers reporting a boost in sales from nurturing these high-value accounts.
5. Cold Calling as Part of the ABM Strategy
Incorporating cold calling as part of an ABM strategy may seem traditional, but it remains one of the most effective ways to establish a personal connection with decision-makers. Despite the rise of digital channels, cold calling remains a valuable approach in B2B lead generation, particularly when combined with insights gathered during the ABM profiling process.
B2B lead gen agencies use cold calling to:
- Establish Direct Contact: Sometimes emails and digital outreach aren’t enough to create a sense of urgency or to break through the noise. A cold call allows for a more personal touch and provides the opportunity to directly engage with decision-makers.
- Follow-Up on Engagement: After sending personalized emails or content, a well-timed cold call can serve as a follow-up, ensuring the prospect remembers the brand and its offerings. It also allows the agency to address any questions or concerns that may not have been addressed via digital channels.
- Gain Immediate Feedback: Cold calling allows agencies to immediately gauge a prospect’s interest and make quick adjustments to the sales pitch or follow-up strategy, helping to accelerate the sales cycle.
While it’s essential that cold calls are respectful and well-researched (so as not to appear cold), they can be highly effective when tailored to the individual account and its specific needs. Studies show that 79% of decision-makers prefer to be contacted by phone for high-value business purchases, especially when they have already shown some level of engagement with the brand.
6. Tracking Engagement and Refining Strategies
ABM is a dynamic and evolving process, which means that B2B lead gen agencies need to track the engagement of their target accounts continuously. This involves leveraging data and analytics tools to monitor the performance of campaigns and adjust strategies as needed.
Key performance metrics include:
- Engagement Rate: How often key decision-makers interact with emails, content, and ads.
- Pipeline Velocity: The speed at which an account moves through the sales funnel, from initial awareness to final conversion.
- Conversion Rate: The percentage of target accounts that ultimately convert into customers.
Retail and CPG companies often require longer sales cycles, so consistent tracking helps ensure that agencies can refine their approach and overcome any barriers in the sales process. In fact, 53% of marketers find that real-time data is crucial for making quick adjustments to ABM campaigns.
7. Closing the Deal and Beyond
While ABM focuses heavily on the top and middle of the sales funnel, it also plays an important role in closing deals and ensuring long-term customer retention. This is particularly important in the Retail and CPG industries, where building long-term relationships with distributors, retailers, and suppliers is critical to sustainable growth.
B2B lead gen agencies can help close deals by:
- Providing Custom Proposals: Tailored proposals that reflect the unique needs and goals of the target account, including specific terms, discounts, and solutions.
- Ongoing Support: Offering post-sale support to ensure smooth onboarding and continued success, ensuring the relationship continues beyond the initial sale.
- Cross-Selling and Upselling: Identifying opportunities to expand the relationship with the customer by offering complementary products or services.
In CPG and Retail, these strategies help ensure that once an account is closed, the relationship remains strong, with opportunities for future collaboration and growth.
Conclusion
In summary, Account-Based Marketing (ABM) is a powerful tool for B2B lead gen agencies looking to drive success in the Retail and CPG industries. By focusing on a select group of high-value accounts, conducting in-depth profiling, crafting personalized campaigns, and nurturing relationships over time, Account-Based Marketing (ABM) offers a more targeted, efficient, and effective approach compared to traditional marketing.
As businesses in Retail and CPG look for more meaningful connections with their target audience, the strategic use of ABM—combined with traditional approaches like cold calling—is set to continue delivering results that not only improve lead quality but also increase conversions and long-term success. The ability to personalize and track engagement through ABM allows businesses to make smarter decisions and ultimately build stronger, more profitable relationships with their most valuable accounts.
