Demandbase Innovates Account-Based Marketing in Response to B2B Industry Challenges

Recently, Demandbase released a report titled “The State of B2B Advertising.” However, this raises an important question—what is the current landscape of B2B marketing? There seems to be a cloud of uncertainty regarding the most effective strategies.

“Indeed, that’s the new normal,” observed Kelly Hopping, CMO of Demandbase. “What was once effective a mere six months ago is now a constantly changing challenge.”

A significant concern has emerged regarding the definition of successful demand generation. Traditionally, a conversion rate between 20% and 30% was deemed respectable. “These days, we’re seeing figures closer to 12% to 17%,” noted Hopping. “To achieve the same revenue, you now require double the pipeline, and securing that pipeline has become increasingly difficult. Audiences are becoming more discerning; they hesitate to click on ads, making accurate attribution a real challenge, and they are conducting extensive research before engaging.”

Currently, only about 54% of companies meet their pipeline objectives, according to Hopping.

In Hopping’s previous role at Gartner, boosting pipeline was relatively straightforward—escalate paid search efforts. However, that’s not the prevailing strategy anymore. “With GenAI dominating Google search results pages, both organic and paid efforts are facing steep declines. Google isn’t as effective as it once was,” she commented.

Explore further: The 4 types of content B2B buyers need

Account-Based Marketing Isn’t the Ultimate Solution

Chris Golec established Demandbase in 2006 under the banner of account-based marketing (ABM), and alongside competitors like Engagio and Terminus, emphasized the importance of an account-focused strategy to the B2B marketing community. This message resonated, culminating in Terminus co-founders Sangram Vajre and Eric Spett publishing their acclaimed book titled “ABM is B2B” in 2019.

With the majority of B2B organizations now centering their strategies around accounts, ABM has arguably become an entrenched standard. Recently, at an event organized by GTM Partners, which Vajre now leads, one slide posed the question: “Is GTM the new ABM?”

“Everyone is adopting account-based strategies,” Hopping noted, “whether through platforms like Demandbase or by constructing customized solutions with various data sources and intent signals, paired with AI-driven insights and email platforms—essentially DIYing ABM.” Hopping observed that while there has been a slight decline in searches for “account-based” strategies, interest in “go-to-market” is on the rise.

“At Demandbase, we’ve discussed integrating account-based strategies into go-to-market initiatives,” said Hopping. “The emphasis is now on automation, efficiency, and gaining insights. B2B, GTM, AI—if I could throw in a dozen more acronyms, that’s where the market appears to be heading.” While ABM is far from obsolete, it now forms just one element of a broader, emerging category.

The essence of this shift may lie in the troublesome “M” in ABM. “It suggests that it’s solely a marketing discipline instead of a comprehensive go-to-market strategy requiring seamless sales and marketing coordination,” she explained. A few years back, Demandbase embraced the term ABX (account-based experience) which has started to gain traction. Hopping recounted encounters with individuals holding ABX titles, clarifying that ABX aims to encompass the entire revenue lifecycle, bridging marketing, sales, and RevOps to address that perplexing “M.”

Explore further: Understanding ABM

Successful Strategies for 2024

Amid these challenges, Demandbase is uncovering effective strategies within the B2B realm. Hopping highlighted several promising approaches.

Integrating Cross-Channel Campaigns and CTV

“We’re harnessing every channel and encouraging our clients to do likewise,” Hopping stated. “Connected TV (CTV) has emerged as an exciting medium because it operates similarly to brand channels, with the added benefit of digital attribution and metrics.” She emphasized the importance of assessing the channel’s efficacy in conjunction with others. “If a customer is executing campaigns across CTV, display, LinkedIn, and paid search, we need to analyze if their combined impact yields better results than any single channel, leading to reduced CPC and enhanced ROI.”

She pointed out that the B2B sector often lacks suitable video content for CTV.

Leveraging Syndication

This cross-channel approach naturally aligns with content syndication. “I urge my content team to extract maximum value from every piece of content,” Hopping shared. “For instance, can we transform an e-book into a series of webinars, videos, LinkedIn carousels, or even CTV ads?”

Growing Importance of Influencers

Influencer marketing within the B2B space is on the rise. “A few years back, influencer marketing was predominantly B2C and quite arbitrary—think of reality stars unboxing products. In B2B, this represents a channel for authentic voices akin to G2 or Peer Insights, functioning as third-party reviewers, despite influencers receiving compensation. It offers a means to connect with market segments that would otherwise remain elusive,” she explained.

Influencers hold significant influence for Demandbase as well. “As an account-focused platform bridging sales and marketing, we recognize that while our brand resonates with marketers, we urgently require sales engagement to ensure the product remains relevant. Therefore, collaborating with influencers who have a robust sales following is crucial. They hold more credibility with their audience than the Demandbase brand, which may not resonate with those who generally overlook marketers.”

Transitioning from Manual to Programmatic

“Around five to eight years ago,” Hopping recalled, “programmatic advertising was mainly hit-or-miss, often resulting in ads appearing alongside irrelevant content. Now, targeting has become far more precise.”

Through Demandbase’s advertising solutions, advertisers can engage specific customers with incredible accuracy. “Programmatic has evolved into a far more deliberate targeted approach, moving beyond the old spray-and-pray strategy. It’s now a primary distinguishing factor in our offerings compared to competitors. Our DSP is tailored specifically for B2B mid-market and enterprise audiences, while others tend to use broader platforms like The Trade Desk,” Hopping clarified.

Identifying the Right Account-Based Audience

There were initial worries during the pandemic about the viability of using IP addresses for B2B targeting, particularly as buyers shifted to remote work and ceased traditional communication methods. With cookies now being phased out, Hopping affirmed, “Demandbase has incorporated solutions to effectively target individuals through various means, ensuring robust identification despite the absence of cookies.”

The Value of Intimate Events

Lastly, Hopping emphasized that in-person events are a crucial component of Demandbase’s strategy, ranking as the top contributor to their pipeline. However, she notes they are more effective for accelerating deals than for initial prospecting. “We’re not looking at large trade shows, but rather smaller, more personal gatherings—like exclusive dinners or our well-established ABM certification courses,” she concluded.

For those interested in delving deeper into B2B advertising strategies for 2024, the complete report can be accessed here (registration is required).