Account-Based Marketing (ABM) is a rapidly growing marketing technique specifically catering to users, customers, prospects that fit your company’s ideal client profile and those that can give you higher returns in the long term. Unlike traditional marketing techniques, where information about the company is marketed to larger crowds out of which prospective clients are filtered through the procedure, the ABM method is more time and labor-efficient. It inverts the marketing funnel by starting from a list of target clients, including top decision-making authorities of other companies, and personalizing a sales pitch that’s relatable to that target. Using chatbots and predictive analytics can efficiently boost ABM success on the whole.
The art of modern conversational marketing
Conversational marketing is altering the sales and marketing pitch today and adding relevance to a target client based, proving more valuable than a general sales pitch broadcasted to a larger crowd. This is a fundamental factor in ABM. It is a highly efficient approach as 80% of customers have agreed that they are more likely to become customers if they are provided personalized experiences through a brand’s marketing.
The modern conversational marketing technique on the digital forum is carried through chatbots as they can provide immediate assistance in increasing customer retention rates and click-through rates. Live chatbots are becoming a standard addition in websites, blogs, and apps, and with good reason. Chatbots are predicted to have a 3 times growth rate in the U.S. market by 2025.
Marketing Technology News: How can Marketers Benefit from using Call Analytics Platforms?
Using a combination of marketing tactics
The best approach to reaching the highest outcomes in marketing campaigns is to equip a combination of tactics, always. In addition to conversational marketing using chatbots, enabling relevant and suggestive ads to the user can be the nudge they need to make a final purchase. A series of call-to-action ads relevant to the user can be displayed on the same page, giving a more effective reach by taking data from the chatbot conversations and applying predictive analytics to ABM techniques.
Benefits of chatbot and ads on the same platform
- Immediate assistance – The company website can have a variety of visitors (people who are browsing), out of which only a few are immediately convinced. Having chatbots to converse with visitors by greeting them and helping as soon as they land on the page has a better chance of having them longer on the page, gathering info from them about their needs and preferences, and suggesting services and products that the company can offer without the hassle of them scrambling through the website or leaving the website. This makes their experience much easier and complete as the ads with offers and suggestions that the user needs will accelerate the click-through rate and engagement with the company. One of the best features is that chatbots are available 24/7 to assist online visitors with queries.
- Personalization – Some chatbots have suggestive questions and answers. The algorithm figures out more about the user every time they choose an answer. With every choice they make in the conversation, the chatbot feeds data immediately used to personalize the experience. Specific ads, recommendations, necessary website redirections, optimized landing pages, relevant call-to-action ads, etc., are some of the possibilities of personalizing the experience and having a higher chance of customer conversion. 55% of businesses that use chatbots gain high-quality leads.
- Time-efficient – Customer expectations have been skyrocketing. They demand efficient, readily available interactions today. When contacting the helpline or customer service line, 42% of customers have reported frustration for being on hold too long. 53% of customers agreed to abandon pages if they could not receive immediate responses. Chatbots are the only way to have effective and immediate interaction, at least temporarily, to pacify customer queries until a company representative can contact them. Collecting data for predictive analytics without a chatbot is significantly harder and time-consuming. Chatbots can carry the same task of data collection in shorter periods of time.
- Cost-efficient – The alternative to chatbots for handling customer queries and interactions is the old-school method of call center or individual sales rep for a group of clients or emails. All these alternatives are cost and labor-consuming. Companies that use chatbots have reported 30% savings in their usual customer support costs. It gives the added benefit of data collection, which is another cut-down on costs.
- Customer satisfaction – Chatbot interactions are rarely negative experiences. 87.2% of customers have rated to having either a neutral or positive experience with chatbots. On comparing the various types of interactions that the different marketing interactions have, live chatbots have achieved the highest customer satisfaction levels of 73%, followed by email (61%), app (53%), social media (48%), and phone (44%).
Using combined applications of chatbots and target ads can boost customer engagement and, ultimately, company sales. If your company wishes to adapt to the latest and most successful resources in digital marketing, the best way to increase ABM outcomes is by equipping chatbots and their applications in predictive analytics.
Marketing Technology News: Marketing Technology Highlights of The Week: Featuring Medallia, Cloudinary, IBM, BigCommerce and…