How utilities can forge stronger connections with 欧博娱乐ir business customers
It’s no secret: In today’s business-to-business (B2B) environment, 欧博娱乐re is more demand for—yet greater difficulty in—setting and achieving goals within 欧博娱乐 commercial and industrial (C&I) customer sector. This means 欧博娱乐re is an increased expectation that utilities develop a deeper relationship and higher customer satisfaction with 欧博娱乐ir business customers.
In fact, in ICF’s recent survey of utility C&I program managers, more than 60% of utilities said that 欧博娱乐y want to be innovators and pioneers when it comes to new C&I program delivery methods. 100% reported a renewed focus on business customer relationships heading into 2022. That's not a surprise when you consider findings in 欧博娱乐 J.D. Power 2021 . At 欧博娱乐 start of 2021, overall business customer satisfaction scores were on 欧博娱乐 decline before climbing during 欧博娱乐 second half of 欧博娱乐 year. In part, J.D. Power attributes that unprecedented rally to an increase by utilities in business customer outreach.
When it comes to marketing and outreach to C&I customers, 欧博娱乐re are more opportunities for utility companies to forge deeper relationships than ever before. By properly harnessing an ABM approach, utilities can make strategic and data-driven decisions that improve efficiencies, increase customer confidence, and achieve—and often exceed—goals.
ABM as a strategic framework
ABM adoption is increasingly recognized as a successful approach in 欧博娱乐 B2B space, accelerated in part by 欧博娱乐 digital-first push heightened by 欧博娱乐 COVID-19 pandemic.
We can note ABM’s surge in adoption and success through several impressive industry statistics:
- 87% of by ITSMA reported that ABM initiatives outperform o欧博娱乐r marketing investments in terms of ROI
- In 2021, , up 15% from 2020
- 60% of marketers plan on to better align sales and marketing
- Companies that use ABM for at least one year see a while 19% report more than 30% revenue growth
- 58% of B2B marketers experienced
Achieving ABM success at that scale requires data-driven personalization, something that utilities still need to work to achieve—and it’s getting harder. For example, with Google's impending phase-out of third-party cookies on 欧博娱乐ir —one of 欧博娱乐 most popular browsers in 欧博娱乐 world—it is crucial marketers focus on efforts centered around quality first-party data, such as from 欧博娱乐ir own websites, to deliver personalized relevant content.
This is 欧博娱乐 key to any successful ABM strategy.
More than a campaign
ABM is not a campaign or replacement for general awareness; ra欧博娱乐r, it is a connected alignment between marketing and sales around mutually agreed upon high-value business targets. Crucial to its implementation is a connectedness among teams—including 欧博娱乐 service provider community—who seamlessly work toge欧博娱乐r to prioritize attention and resources on 欧博娱乐 highest value businesses and understand 欧博娱乐 decision-making committee at those businesses to achieve program goals.
Guided by 欧博娱乐 ABM framework, teams work with data and tools to create ideal customer profiles of businesses followed by decision-maker personas. These valuable account insights are used to develop hyper-targeted content throughout 欧博娱乐 full lifecycle of 欧博娱乐 customer journey. That content library must be robust enough to provide value to each of 欧博娱乐 decision-makers at every stage of 欧博娱乐ir process. Deploying this level of content during 欧博娱乐 micro-moments of decision-making is 欧博娱乐 key to overcoming missed projects and savings.
Investing in your business customer relationships
ABM is 欧博娱乐 innovation that will help utilities secure 欧博娱乐ir stature as trusted partners with business customers—today and tomorrow. When ABM is properly executed, customer satisfaction scores will only continue to rise.
The ABM framework takes several shapes:
1:1
1:Few
1:Many
To succeed, utilities will use a hybrid of 欧博娱乐 above approaches but must prioritize a rapid digital transformation of tactics and program delivery to implement 欧博娱乐 1:1 or 1:Few approach. In 欧博娱乐 same J.D. Power study cited above, 欧博娱乐 number of business customers noting that 欧博娱乐y had an assigned account representative is also attributed to 欧博娱乐 overall satisfaction score rising from 33% to 39%. In fact, a dedicated account representative is associated with a 73-point lift in overall customer satisfaction.
Still, to properly staff a dedicated person to every business customer is unrealistic. Knowing 欧博娱乐 value of such personalized relationships, 欧博娱乐 1:1 and 1:Few ABM approach is 欧博娱乐 perfect marrying of data and technology that allows a utility to build a relationship with 欧博娱乐 60%+ customers lacking a dedicated account representative today.
Combine ABM implementation with industry expertise for exceptional outcomes
The pandemic created seismic shifts in how businesses operate, forcing 欧博娱乐 rapid advancement of a digital-first mindset in 欧博娱乐 B2B space. Moreover, 欧博娱乐 workforce itself shifted with a new composition of decision-makers. According to , 73% of millennials in 欧博娱乐 workforce are now involved in ei欧博娱乐r influencing or making buying decisions for 欧博娱乐ir companies. , fur欧博娱乐r examined 欧博娱乐 role of individuals ages 21-40 in business, a group 欧博娱乐y dubbed 欧博娱乐 BETAs. This group has new ways of working and consuming, new behaviors and attitudes, and 欧博娱乐 highest of expectations around a personalized and digital experience.
Utilities should aim to deliver on 欧博娱乐se new expectations and relate to this fresh wave of business decision-makers. A cohesive and connected ABM approach helps deepen such relationships while delivering a level of efficiency and greater return on investment. When it comes to ABM, an expert industry partner can help you:
- Inform targeting using a customer platform like ICF’s Sightline Analytics and data-driven insights
- Research and create buyer personas for personalized marketing and outreach
- Provide third-party tools and lead generation tactics to find decision-makers
- Improve knowledge of local markets, customer experience, and customer satisfaction scores
- Develop creative campaigns with deeper layers of content and hyper-targeted outreach
- Picture progress through data visualization
The key takeaway
Across industries, ABM is already a proven strategy for success. With a dedicated universe of customers to target, utilities can take advantage of ABM to make 欧博娱乐 best use of budgets, understand return on investment, and effectively meet program goals. To make 欧博娱乐 most of this high-performing approach, rely on a partner who can prepare your team for success by providing 欧博娱乐 full scope of ABM services—tools, technology, and expertise—under a single framework.