CHAPTER 6: Demand Generation & The Power of ABM
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In the early 2000s, marketers used to capture leads by sending their promotional message to as many people as they can and then gather leads from the number of people who come to their website. This was just like the fishing approach where a fisherman throws a net in the sea in hopes of getting as many fish as he can and then keep the ones that are good.
However, that marketing approach alone was not doing any good in recent years due to the increase in the competition where a common person is bombarded with hundreds of promotional messages every single day. So to compete with that, marketers got a little clever and started focusing on prospects individually rather than throwing a wide net to catch everyone; this is what we call Account Based Marketing (ABM).
Now if we talk about videos, then it unequivocally has a great role in today’s modern demand generation, lead generation and ABM programs because of its distinctive ability to get the attention of the audience, engage them through storytelling, explain complex ideas to them and connecting with them on a more personal and emotional level.
Video is an extremely powerful tool for generating demand in this modern cut-throat competitive environment. It is not just a new tactic to generate excellent leads through social media platforms but also a way to give a new life to your current digital marketing campaign. Let’s have a look at a few reasons why it is so important for demand generation and ABM in today’s business environment:
Reason#1: Audience Insight
The first reason is that video can help marketers get better insights on their leads and help them coordinate with accounts (leads) better. Today’s marketing and sales efforts are mostly data-driven and that is what video provides and in a way that none other marketing tools can.
For instance, if you provide your prospects with a PDF or a blog post, there is no way to know how much of it they have read, but if they are watching a video, you can track how much they watched, which part they skipped or repeated. You can get a much better knowledge of which accounts to target based on this data.
But, this highly accurate lead capturing doesn’t end here, if you are dealing with an organization, you can get the video data on this level as well. According to IDG; there are typically 17 people involved when it comes to making a decision in an organization.
This means through video; you can track the video viewing behavior of all the stakeholders so that if they have re-watched a particular part of video involving a value proposition or feature of your service or product, you will know what angle to use when you personally talk to them.
Reason #2: Increase CTR
Another reason why video is super important to be accompanied by the ABM program is that it gets the attention of your prospects. People who get an email based on text might not be so excited to open it or read it fully or click on the link provided in it. But, if they receive a video with an attractive thumbnail, their interested in opening that email will definitely be sparked.
And since we are integrating video with ABM where we are targeting specific accounts, we can include the logo of their company in the thumbnail, their name in the subject line or something relevant to what they talked about a few days ago.
This type of personalization will increase the likelihood of getting your prospects engaged in your video as according to research, your prospects are five times more likely to engage with a video having a personalized message than the typical messages based on text. And that also increases the chances of them sharing such video with their colleagues.
Reason #3: Build Rapport
Last but definitely not the least, the video offers a personalized, human touch that adds credibility and builds trust between the business and the prospect.
It helps create personal connections through highly personalized videos that convey bright smiles, trust building behavior and a confident body posture which cannot be found in text or voice messages.
According to SalesLoft; if prospects at late stages receive a personalized video, they are 75% more likely to close a deal with you. Which clearly shows how implementing video in your ABM can cultivate drastic results.
Some Advanced Strategies for Demand Generation and Account Based Marketing by Using Videos:
Now that you know what video can do to your demand gen and ABM efforts, its time you know how you can do that! We will tell you some advanced strategies to making sure that the use of videos in your ABM program and demand generation efforts is serving you well. So with that said; let’s dive right in:
- Add Video to Your Website:
Though we have already talked about it in the previous chapter, the importance of adding a video to your website cannot be stressed enough because it serves many purposes. It can boost your ranking, it can grab people’s attention, it can help educate them faster, it can instill confidence in them and it can help them take action. These are all the things that make the use of video imperative for your demand generation and ABM efforts.
According to Forrester; web pages with a video have 50 times more chance to get ranked on Google’s first page. So if you add valuable and highly relevant videos to your website, your entire website’s SEO will be improved because videos are favored by Google.
One of the reasons why pages with videos get preference from search engines is that people spend more time on such pages that results in higher dwell time which ultimately results in higher rankings in search results. Also, if you are directing people to your landing page, try to add videos in them as well. This will not only make your landing pages more engaging, but will also boost your CTR.
Furthermore, websites that feature a video, can collect better information about its prospects through metrics like the time a person viewed a video for, how many times it was played, which part of the video was watched the most and more. Also, companies can add forms, buttons and call to actions to generate more leads and eventually get sales.
- Embed Videos in Email Marketing:
If you want to take your email marketing to the next level then you can add video in it because the rates of opening emails have been declining for a few decades.
Which is why you need to get creative and use highly attractive videos with clever subject lines and engaging thumbnails.
As outlined by Campaign Monitor; adding a video in your email can get your CTR up by 65%. And once your email is opened, a thumbnail that is personalized for your recipient can become pretty irresistible.
- Leverage 1-to-1 before Major Events:
If you want to boost the return on your investment in upcoming events, it is crucial to make them familiar with you before the event. The reason is that prospects are bombarded with sales pitches from everywhere during an event and you would want to stand out from the crowd by connecting with the prospects before the events.
What you can do is create a face-to-face connection with your prospects by creating one-to-one videos and then sending them to your prospects through emails. If you properly add the video in the email with a proper subject line and video thumbnail, the chances are that your email will be opened and you will be seen by the prospects before you meet them in the event.
If this happens then you will have better odds of closing a deal because you will be a familiar face in the room. And even if you don’t make a sales pitch in the event and just connect with the prospect, you can send a follow-up email after the event to book a call with them.
- Leverage Testimonials from Happy Customers in Case Studies:
If you want to make sure that your case studies come off very authentic to your prospects, you need to include videos from your customers with their testimonials in them. Remember, the best story can be told by people who have already tried your product or service because they are the third party and their experience will be unbiased.
The best part about sharing testimonial videos is that you don’t have to spend a lot on such videos because you can just ask your customers to record videos on their phones and send them to you. You will be surprised by how many of your customers will be happy and willing to make videos for you.
- Help Your Prospects Learn Through Videos:
The best way to answer customer questions and make it easier for them to understand things better is by using videos. People have to put extra focus when they are reading the text but when they are watching videos, they are just seeing and listening to what is happening in the video and the part where they need to put focus to understand the text is already explained by the person in the video.
Your company’s sales rep or support staff can record their own videos answering the most commonly asked questions through customer emails or explaining complex processes then uploading those videos on your website.
- Video Improves the CTRs for Ads
If you want to increase the ROI of your digital ads then you should know that clicks don’t matter, what matters is how many of those clickers actually signed up or made the purchase. This is where video can help because it increases the CTR of landing page and compels more and more prospects to take action.
The good thing about the use of video in digital ads is that it will boost up the results the same way for both demand generation ads and the retargeting campaigns. If we just talk about Facebook, then around 500 million people watch videos on Facebook every day (WordStream).
So if you try running video ads on Facebook to generate leads and experiment with different video formats, you will soon find a sweet spot and if that happens, imagine what your video advertisement can do for you.
- Using Video Data to Make Sales Decision:
There are different things that you can track using a video that can help you figure out which account you should pursue, when to talk to them, and what you should talk about. The data that you gather from the video can help your team target your prospects with great accuracy.
Unlike the data you get in the form of clicks, views and downloads from PDFs or blogs, you can get much more from videos. If you have the video data, you can know things such as:
- People who watched your videos
- To what length did they watch the video?
- Which parts of your video did they watch?
- Did they share it with others? If yes then who?
With this amount of precise data, your teams can understand product interests, needs, pains and questions of each individual rather than the masses. This way, you can contact all of those prospects personally and increase your chances of making a sale.
- Provide Exceptional Customer Support:
If you want to grow your customers into your advocates then you need to something extraordinary. And that is the use of video in your support. In the coming years, companies will primarily be competing on the basis of customer experience and that is what you need to start improving from now.
The good news is that you can leverage videos to provide excellent customer service because they save time, they are easier to understand and you can show things to your customers rather than telling them how to do them. Some of the uses for videos in customer support are:
- You can replace email and phone with video messages to increase the satisfaction rate of your customers
- You can leverage screen captures to quickly resolve issues
- You can decrease the ‘query solved’ time by answering a question much faster through videos
- You can create a whole library of videos encompassing different guides, how-tos and answers to most important questions to decrease the number of tickets you receive
- Videos deliver a sense of personalization and make your customers feel important
There are tons of other uses for videos in customer support that can change the way your customers perceive you. You can make them feel valued by sending them detailed videos on solving their queries and that is what wins the hearts.
So now that you have a good idea of how you can use videos to boost up your conversions and generate higher demand, it is time that we move to our last chapter and learn about video analytics.