By Lauren Dichter, Marketing Consultant at Heinz Marketing

My first work trip came and went quickly, but it still had a large impact. Over the course of just two days of programming, I took 15.5 pages of handwritten notes! Everyone at the MarketingProfs B2B Forum came there hoping to learn new strategies, tools, and tips n’ tricks to try out at their own organization.

Here’s Part 3 of what I personally found to be the most valuable takeaways, along with the sessions they came from and brief explanations:

  1. Marketing should be designed around how the human brain functions
  • Session: How to Use Neuromarketing to Attract Attention, Elicit Action, and Plump Profits
  • Speaker: Nancy Harhut, Chief Creative Officer of HBT, Inc.

95% of purchase decision-making occurs in the subconscious mind, because we use “decision defaults.” So, as marketers we must crack the code on getting people to…

    • Notice and Remember Us
    • Do What we Want
    • Pay What we Want

Let’s dive into the neuromarketing insights and strategies important for achieving each of the 3 goals above:

Notice and Remember Us

    • Von Restorff effect (noticing differences)
    • Example: using emojis in subject lines increases open rates
    • Eye magnet words
      • Example: Using the prospect’s name
      • Example: Using words like “new”, “finally”, “soon”, “discover”, “free”, “secrets”, “easy”, etc.
    • Storytelling
    • Stories are great because people relate emotionally and subconsciously to them; stories bring up powerful feelings like anxiety, awe, wonder, and fear.
    • Video stories are effective because they involve and heighten multiple human senses

Do What we Want

    • The Scarcity Principle (if it’s harder to possess, it must be better)
      • This is influenced by urgency and exclusivity
        • Example: a count-down clock visually causes urgency, increasing CTR by 31%
        • Example: subject lines about limited time or limited space increase open rate and CTR
    • Availability Bias
      • People judge the likelihood of themselves buying your product based on how readily they can imagine using it
    • Framing (the words you use to describe your product/service or company)
      • Example: using “yes” and “no” buttons produce a 40-125% lift in conversions

Pay What we Want

    • Marketers must frame any talk of payment in a positive light
      • Example: minimizing the use of words like “price”, “cost”, “pay”, and “spend”, and replacing them with words like “gain”
  1. ABM = Land & Expand
  • Session: ABM: New Insights and Best Practices for 2020
  • Speaker: Jon Miller, CEO and Co-Founder of Engagio

This session taught that there are 3 main components of a successful ABM program; selecting accounts, driving engagement, and measuring progress. He also stressed the sales team needs to feel like they were part of the account selection process if they’re going to be enthusiastic participants in the ABM program.

  • Selecting—and Scoring—Accounts
    • A sophisticated ABM program should stratify target accounts into at least 3 groups:
      • Strategic (Tier A)
        • A list of approx. 14 accounts
        • Highly customized approach for each account
        • 84% of these should be current customers, 16% new customers
        • Requires deep-dive research
        • One-to-One
        • $1M-$1B
  • Scale (Tier B)
    • A list of approx. 80 accounts, further stratified into micro-clusters of around 20 accounts
    • Focused programs with moderate personalization
    • Requires deep cluster research
    • One-to-Few
    • $100K-$1M
  • Programmatic (Tier C)
    • A list of hundreds of accounts (approx. 700)
    • One-to-Many
    • $50K-$100K
  • A sophisticated ABM program should also score accounts using the “Account Score” formula: Fit + Engagement. Moreover, advanced ABM depends on high quality data.
    • Fit represents how close the account comes to the company’s Ideal Customer Profile
    • Engagement represents how much time an account is spending with the company’s promotional efforts and assets
  • Driving Engagement
    • Advanced ABM requires the right interaction for each persona at the right time. The things that enable this perfect coordination and power its success include:
      • Marketing and Sales working together instead of in a hand-off format, and aligning on 3 levels:
        • Data
        • Sharing insights—looks like sales reps getting alerts on opportunities
        • Coordinated interactions—looks like implementing ABM standups every few weeks
      • Solid orchestration; combining sales and marketing channels across departments and personas
  • Content that contains commercial insights
  • Measuring Progress
    • Since ABM is about developing strong business relationships over time, ABM metrics need to measure quality, and the best way to do that is through reporting on engagement.
      • You can’t only use web data; you must use all the channels
      • You should implement “lead-to-account matching”
  • Key Metrics:
    • Coverage
    • Awareness
    • Time
  • ABM metrics also need to measure the journey that the account is taking.
    • Key Metrics:
      • Value
      • Volume
      • Conversion %
      • Velocity

Do either of these 2 takeaways seem like they could bolster your marketing efforts? Which one(s)?

Let me know in the comments section below!