Will 2024 be the year of the customer insights overhaul?
July 15, 2024
Consumer behavior and market dynamics remain a moving target for B2B businesses. In fact, there are ‘large-scale shifts taking place in the global consumer landscape,’ according to this McKinsey article.
It is no wonder, then, that go-to-market (GTM) leaders are constantly applying strategies to stay ahead of the curve and optimize their customer acquisition efforts.
But which technologies can teams harness to get the most out of their customer acquisition efforts? Gartner’s advice is to prioritize accounts using new and more efficient approaches, including predictive scoring and intent signals.
The Gartner article goes on to say that by 2026, ‘65% of B2B sales organizations will transition from intuition-based to data-driven decision making, using technology that unites workflow, data and analytics.’
Given this information, which predictive selling capabilities are businesses investing in and how ready are they for the anticipated transformation?
5 key B2B trends that can’t be ignored
Enlyft’s recent 2024 ABM Benchmark Survey sheds light on some intriguing takeaways that provide a glimpse into already-evolving trends and challenges in B2B account targeting.
1. Teams are at-the-ready for transformation
The survey results unveiled a significant trend, with 81% of respondents indicating that they are likely to update their ideal customer profile (ICP) in 2024.
With technology giving teams the ability to craft actionable ICPs in a matter of hours—versus weeks or months using traditional approaches—this statistic underscores a shift towards a more agile and adaptable approach to identifying and prioritizing the right accounts.
As businesses navigate through changing market landscapes and customer preferences, the appetite to revisit and refine their ICP is apparent.
2. Account scoring remains a conundrum
Despite the growing emphasis on precision targeting, the survey results reveal a gap in the adoption of effective account scoring methodologies.
Nearly 70% of respondents admitted to not having a strong grasp on account scoring, while an alarming 43% continued to invest in account scoring without achieving a tangible understanding of its efficacy.
This dichotomy highlights a critical area of improvement for B2B organizations, emphasizing the need for a more discerning and data-driven approach towards account scoring to optimize customer acquisition efforts.
3. Lead scoring investments are lagging
Lead scoring plays a pivotal role in assessing the potential value of leads, enabling businesses to prioritize and engage prospects with the highest likelihood of conversion.
Further complicating the landscape is the revelation that only 50% of respondents have invested specifically in lead scoring.
The underinvestment in this fundamental aspect of customer acquisition points to an area of untapped potential for B2B organizations to streamline their targeting efforts and enhance the efficiency of their sales and marketing initiatives.
4. Third-party intent signals rank as important
In contrast to the lacking investment in lead scoring, the survey results unveiled a different trend, with 63% of respondents indicating investments in third-party intent signals to support their targeting efforts.
This shift towards leveraging external intent signals underscores the recognition of the value of comprehensive, real-time data in identifying and engaging prospects showing genuine interest and potential readiness to explore B2B offerings.
The reliance on such signals signifies a strategic move towards a more proactive and targeted approach to customer acquisition, aligning with the broader industry shift towards a data-driven and insight-led decision-making process.
5. Predictive selling investments are expanding
The survey shed light on another interesting trend, with over 60% of respondents expressing their plans to expand sales intelligence investments over the next 12 months.
This inclination towards bolstering sales intelligence investments reflects an industry-wide acknowledgment of the pivotal role data plays in shaping effective customer acquisition strategies.
As the volume and complexity of data continue to surge, businesses plan to capitalize on advanced analytics, AI-driven insights, and real-time data sources to make informed, strategic decisions in targeting the right accounts.
Compelling trends as organizations target the right accounts
As well as unveiling the shift in B2B strategies, these survey insights serve as a call-to-action for GTM professionals.
By embracing data-driven precision to target the right accounts at the right time, organizations will be well prepared for the future demands of customer acquisition, unlocking sustained success and competitive advantage in the B2B domain.
