What is account-based marketing (ABM) and how is it applied in the food industry?

Account-based marketing (ABM) is a strategic approach that focuses on identifying and engaging specific high-value accounts, treating each as a unique market. In the food industry, ABM enables companies to personalise their marketing efforts towards key clients, such as large retailers, distributors, or hospitality groups. This targeted strategy allows for more meaningful engagements, fostering stronger relationships and improving the effectiveness of marketing campaigns.

How does intent data enhance sales and marketing strategies in the food sector?

Intent data provides insights into the online behaviours and interests of potential clients, indicating their readiness to engage or make purchasing decisions. In the food sector, leveraging intent data helps companies identify businesses or consumers actively seeking information related to specific food products or services. This enables sales and marketing teams to tailor their outreach with timely and relevant content, enhancing engagement and increasing the likelihood of conversion.

What technological advancements are influencing account and intent-based marketing in the food industry?

Technological advancements such as artificial intelligence (AI), machine learning, and predictive analytics are significantly enhancing account and intent-based marketing in the food industry. AI and machine learning algorithms can analyse vast datasets to identify patterns and predict customer behaviours, allowing for more precise targeting. Predictive analytics helps in forecasting market trends and understanding the needs of specific accounts, enabling companies to develop proactive marketing strategies.

Why is the integration of sales and marketing teams crucial in ABM for the food industry?

In the food industry, aligning sales and marketing teams is essential for the success of account-based marketing (ABM). This integration ensures a unified approach to targeting and engaging key accounts, allowing for consistent messaging and a seamless customer experience. Collaborative efforts between sales and marketing facilitate the sharing of insights and data, leading to more informed decision-making and the development of strategies that effectively address the unique needs of each account.

What are the key benefits of adopting account and intent-based marketing strategies in the food sector?

Adopting account and intent-based marketing strategies in the food sector offers several benefits, including improved return on investment through focused resource allocation on high-value accounts, enhanced personalisation of marketing efforts leading to stronger relationships with key stakeholders, and shortened sales cycles by engaging accounts that have demonstrated intent, thereby increasing the efficiency of the sales process.

Just Food

Daily Newsletter

14 January 2025

Daily Newsletter

Hershey shuffles executive pack following CEO announcement

The changes have been announced just days after Hershey said CEO Michele Buck would step down.

Hershey has appointed Andrew Archambault as president of its US confection division and named Veronica Villasenor president of salty snacks.

Both appointments are effective from 3 February.

The executive changes come after the chocolate maker revealed it had launched a search for a new lead executive to replace president, CEO and chair Michele Buck, who intends to retire from the business next year.

Buck has led the company for the past eight years and plans to step down on 30 June 2026.

Both newly appointed leaders will be part of Hershey's executive committee and will work to “continue advancing the company's priorities and play key company-wide leadership roles,” said the business in a statement.

Buck said: "Andrew is a proven executive who has transformed complex consumer brand portfolios through his deep commercial expertise and customer-centric approach.

"I am very excited to pair this announcement with an internal promotion, welcoming Vero as our new president of salty snacks. Vero's extensive experience across the Hershey business will be key to the continued success of our salty business.

“I am confident that Andrew and Vero are the right leaders to advance our leading snacking powerhouse vision and deliver on our next phase of growth.”

Villasenor succeeds Kristen Riggs, who is leaving Hershey after 20 years to pursue other opportunities. The new president has worked for Hershey for 22 years. She has been vice president of salty snacks for almost two years and has held different executive positions at the company since 2002.

"Throughout my career at Hershey, I have been deeply committed to delivering for our customers, delighting our consumers and developing our people. I'm excited to continue this journey," she said.

Archambault will oversee a portfolio of the company’s brands including Hershey's, Reese's and Jolly Rancher in his new role.

He said in a statement: "I, like so many others, am inspired by this iconic company and its beloved brands and look forward to working with the incredible Hershey team to build for the future as we take this business to the next level of growth."

Archambault joins the business from Keurig Dr Pepper, where he worked in executive roles for more than seven years. He has been president of US beverages since 2023. He has also held executive positions at Bacardi, The Coca-Cola Company and the supplement maker The Nature's Bounty.

Hershey generated $11.2bn in annual revenue in 2023.

In November, Hershey lowered its forecasts for its net sales and earnings per share in 2024 amid what Buck called “a challenging consumer environment”.

In the third quarter, ended 29 September, Hershey reported net sales of $2.99bn, a marginal decrease from $3.03bn in the corresponding period of 2023, while operating profit for the quarter declined 16.6% to $613.2m.