Marketers can start attaining success for their brands by using ABM coupled with the FIRE (Fit, Intent, Recency, and Engagement) methodology.
ABM has been around long enough to prove its worth many times over. Specifically, by enabling sales and marketing teams to work together, businesses have confidence that the prospects they reach out to are the ones likely to buy.
But with ABM being such a demanding marketing methodology, it led to the creation of many different account-based solutions. These solutions were made for specific issues that may arise when ABM is applied. There are now so many choices in a crowded field, it’s intimidating.
One of the initial problems a marketer may face when trying to implement an ABM program is targeting—specifically, finding companies that mesh well with ones they represent.
But how are marketers supposed to look for best-fit companies if they aren’t aware those companies even exist?
Enter the FIRE strategy: Fit, Intent, Recency, and Engagement.
When determining Fit, marketers should turn to their ICP and/or current customers. Although fit is generally different for every business, AI has tended to work well in this area. Rather than searching through lists of companies based on limited criteria, marketers can let AI do the work for them. Instead of going through results manually, AI can simplify the work by scanning thousands of data points.
As far as the Intent part of the FIRE strategy goes, marketers can’t merely rely on the metrics they obtain from their company’s website alone. They have to go more broadly into obtaining prospect search data from all over the internet. It gives perspective into who’s interested. This will enable marketing and sales to collaborate better.
For Recency data, marketers want to take a look at the last time a prospect has given a buying signal. Filter for it. This way marketing
Finding out the data necessary for the Engagement part of the FIRE methodology is simple, and broad. Engagement could mean several high-value webpage visits to downloading content—anytime a prospect interacts with the marketer’s brand. Combine engagement data with fit, as well as intent, recency, and engagement data to build a complete picture to paint the whole picture.
FIRE focuses on choice. Marketers can pick and choose which accounts to nurture or reach out to. Their total account list may be smaller, but the payoff is well-worth it.
Original article from MarTech Advisor on 12 March 2019.