The idea behind ABM is to target specific and applicable accounts rather than selling and marketing to your entire total addressable marketing (TAM). When you identify who the right companies are, you can target these companies with super-personalized messaging.
The next step should be to collect verified contacts from those companies that suit your profile. Firmographic data helps with finding the right set of companies or accounts to target.
In addition to better target segmentation, firmographic data can be used to create personalized content such as
- Relevant email campaigns and newsletters
- Authoritative blog posts
- Targeted ads and improved ad copy
Before diving deep, let’s have a quick recap on what firmographic data includes.
What is Firmographic Data?
Firmographic data includes both company-wide and user-specific data. As a result of B2B segmentation using firmographics, you may get a clearer picture of ideal client identities and target them with relevant information.
- Firmographic data include details like:
- Annual Revenue
- Type of Industry
- Number of Employees
- Location(s)
- Company Age
- Decision-Makers
For your team to concentrate their time on leads and organizations who are qualified for your product or service, firmographic data is essential. It also ensures that your communication is as relevant as possible to your target audience.
Improved Market Targeting
You have to consider your audience. When it comes to the demands of startup firms, they are vastly different from those of bigger corporations. A large number of SMBs are looking for standardized solutions to assist decrease complexity, while many enterprises are looking for tools and technologies that are custom-built for specific problems.
- Suppose you are looking for companies:
- With over $1 million funding
- At least 10 years old
- Located in the US
- Have 500-1000 employees
You can use SalesIntel to filter and identify companies that fit your requirements instantly with a few clicks. This makes it easy for your team to focus on targeting your qualified prospects rather than everyone they possibly can.
The next step is to extract validated contacts from within these companies that match your profile. So firmographic data helps ABM campaigns get started by finding the right set of companies or accounts to target.
Personalized Content Marketing Approach
77% of consumers have selected, recommended, or paid more for a brand that offers a personalized experience. Their experience starts right from your first marketing message.
You should have your research ready with company revenue, company size, locations, and other important data. This relevant data will help you tailor marketing communications to better engage prospects.
If their firmographics differ, they will have different obstacles to overcome and goals to attain. Why would they read and watch the same blog entries and videos?
Keep a specific firmographic segment in mind when creating a specific piece of content. Doing so may appear simple, but it requires experience, trial and error, and continuous progress to get right.
Personalize Your Marketing Campaigns
Understanding how to reach high-value marketing segments with outbound and inbound marketing techniques is critical, and firmographic data can have a significant impact on your success.
Advertising based on assumptions is difficult. You will waste money advertising to uninterested audiences if you get stuck in the wrong approach. Instead, by gathering as much information as possible about your ideal prospects, you can utilize that information to better effectively target your adverts.
For example, if you run advertising on LinkedIn, you may target consumers based on a variety of firmographic data points.
SalesIntel assists you in identifying accounts that meet your firmographic standards to qualify as a lead. This way, you’ll have all the information you need to focus your LinkedIn audience while creating your ad campaigns.
Limitations of Firmographic Data
Firmographic data can be used to segment customers, but it cannot be used in isolation. It’s meant to start the ABM journey, not see it all the way through.
Marketers and salespeople can only go so far with their fixed mindsets. They’ll eventually need more context to enhance their personalization efforts.
Firmographic data does not provide a complete picture of a company’s requirements, desires, and purchasing behavior. Without this information, go-to-market teams may be forced to promote irrelevant advertising or make cold calls on the spur of the moment.
Firmographic data, when combined with behavioral, technological, and contextual data, can create deep account-based intelligence. Your sales and marketing teams will be better equipped to recognize a prospect’s demands and likelihood to buy – and will be able to begin implementing the appropriate strategies for gaining ideal accounts.
The biggest challenges with personalization are “gaining insight quickly enough, having enough data, and having accurate data” (source). SalesIntel plays a key role to overcome these challenges for you.
Using Reliable Firmographic Data for Account-based Marketing is Crucial
Many B2B data vendors claim to give up-to-date firmographic information. However, when it comes to accuracy and dependability, their data can be lacking.
While using firmographic data, you need to make sure that:
- The data is accurate and up-to-date
- The provider includes supportive data with firmographics
SalesIntel is a one-stop solution for all three personalization difficulties. We provide access to millions of human-verified firmographic and technological data points in one place. SalesIntel takes data a step further by providing Buyer Intent data to assist you in identifying ready-to-buy prospects.
All said and done, it is critical that you, as a customer, invest to gain access to accurate data. After all, if your firmographic data is incorrect, all your ABM efforts will have limited results.
Interested in testing our data for yourself? Schedule a demo or start a free trial to get your questions answered.