The Fundamentals of Account-Based Marketing (ABM
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This document provides an overview of account-based marketing (ABM) strategies. It discusses how ABM focuses marketing efforts on specific target accounts rather than a scattershot approach. The key benefits of ABM include ensuring attention is given to top prospects/customers, focusing on the best opportunities, supporting sales reality, and delivering a more customer-centric experience. The document outlines steps for developing an ABM strategy such as identifying stakeholders, building a target account list, deciding on segmentation and objectives, and implementing ABM across the marketing funnel from attracting to engaging to converting target accounts. It emphasizes continuous measurement and refinement of ABM strategies.
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The Fundamentals of Account-Based Marketing (ABM
- 1. The Fundamentals of Account- Based Marketing Jessica Fewless Director, Field and Partner Marketing September 16, 2015 @jfewlessb2b
- 2. ©2015 Copyright Demandbase, Inc. Demandbase Confidential. What you’re in for today… Why ABM? What does ABM solve for? Laying the groundwork of an ABM strategy Leveraging ABM across the organization Putting ABM it into action!
- 4. ©2015 Copyright Demandbase, Inc. Demandbase Confidential. of marketing generated leads are never followed up by sales. 50% - Miller Pierce, 2014 VOC Study Leads aren’t valued…
- 5. ©2015 Copyright Demandbase, Inc. Demandbase Confidential. Focusing on volume wastes time and money 4.4% Inquiries Convert .03% Inquiries to closed/wonSource: Sirius Decisions
- 6. ©2015 Copyright Demandbase, Inc. Demandbase Confidential. 6 The sales and marketing divide MARKETING SALES Leads Personas Quantity Individuals Opportunities Buyers/Influencers Quality Accounts
- 7. ©2015 Copyright Demandbase, Inc. Demandbase Confidential. Focus on what matters: Accounts Identify the right accounts Market to those accounts Measure by accounts STEP 1 STEP 2 STEP 3
- 8. ©2015 Copyright Demandbase, Inc. Demandbase Confidential. 8 Why Account-Based Marketing? • Ensures attention is given to top prospects/customers • Defines growth and timing based on account specifics Focuses on best opportunities • More efficient with a defined universe • Delivers on their target accounts Supports sales reality • Linked to greater customer satisfaction and retention • Customers experience less noise, respond at higher rates to more relevant outreach Delivers customer- centric experience
- 9. ©2015 Copyright Demandbase, Inc. Demandbase Confidential. For B2B, all paths are converging on ABM SiriusDecisions 92% Of marketers say ABM is a must-have strategy for the current B2B marketplace Alterra Group Of marketers achieved higher ROI with ABM than with other marketing initiatives ITSMA 84% Of marketers say ABM strategies outperform other marketing investments on ROI BOTTOM LINE: Account-Based Marketing is the new reality for B2B 97%
- 10. Laying the Groundwork for a Successful ABM Strategy
- 11. ©2015 Copyright Demandbase, Inc. Demandbase Confidential. Sales and Marketing Alignment 1. Identify the Stakeholders 2. Build your target account list 3. Decide on segmentation and business objectives 4. Agree on new metrics and measurement 5. Implement ABM across marketing
- 12. ©2015 Copyright Demandbase, Inc. Demandbase Confidential. Identify your stakeholders Sales Marketing Field/Customer Marketing Digital Marketing Demand Gen CMO Customer Success Field Sales Leaders Inside Sales Leaders CRO Marketing/Sales Operations
- 13. ©2015 Copyright Demandbase, Inc. Demandbase Confidential. Customers Prospects Partners Define Segments and Business Objectives Upsell Renewal Awareness Trial Purchase Re- Engage Competitive Acquire Inform CoSell
- 14. ©2015 Copyright Demandbase, Inc. Demandbase Confidential. Target List: Identifying key account attributes Company Size Employee Size Other technologies employed Industry 1 2 3 4 Figure out what the attributes are of your best customers, then find prospects with those same or similar attributes
- 15. ©2015 Copyright Demandbase, Inc. Demandbase Confidential. Identify your High Value Segments 1. Identify your key segments 2. Chose a segment for your ABM strategy 3. Identify business goals for that segment 4. Build a marketing mix to support
- 16. ©2015 Copyright Demandbase, Inc. Demandbase Confidential. Metrics that achieve your business goals New Focus Quality vs Quantity Targeted Inquiries Goals are set and success is measured off interest generated only from the target account list MQLPipeline conversion While you’ll still measure raw MQLs, given the increased quality of leads, more should filter into pipeline. How is/can marketing help increase this? Close Rate Are you increasing the number of pipeline deals that are won? How is/can marketing contribute to this? ACV/Ave Deal Size Are the deals increasing in value with this new focus? How is/can marketing help increase this? Deal Velocity From Inquiry to Sales, how quickly are your deals closing? How is/can marketing help decrease this lifecycle? BOTTOM LINE: ABM leads to less waste and greater efficiency!
- 17. ©2015 Copyright Demandbase, Inc. Demandbase Confidential. New ABM Marketing Mix Events What percentage of attendees are on my target account list? Fewer Events, Greater Investment Digital Campaigns How do I provide a consistent, relevant experience? Optimize for the 15% Customer Marketing How can I support our customer success team and our AEs? Selling to and with our Customers Field Campaigns Which regions have the greatest concentration of target accounts? Set the strategy, don’t chase requests Target Account List
- 18. Getting Started
- 19. ©2015 Copyright Demandbase, Inc. Demandbase Confidential. ABM Across The Funnel Measure (x2) AttractEngage Convert
- 20. ©2015 Copyright Demandbase, Inc. Demandbase Confidential. Measure 1.Identify what’s working 2.Select focus areas 3.Set a baseline
- 21. ©2015 Copyright Demandbase, Inc. Demandbase Confidential. VS. Account-Based Advertising Traditional Digital Advertising Attraction: Get the RIGHT accounts to your site Anonymous Mass Market Personas Only Focused Zero waste Tailor-made for B2B
- 22. ©2015 Copyright Demandbase, Inc. Demandbase Confidential. ASSET PAGE LANDING PAGE Engagement: Deliver relevant messages
- 23. ©2015 Copyright Demandbase, Inc. Demandbase Confidential. Conversion: Get visitors to take action DEMANDBASE ENABLED FORM Ping Demandbase via API $35,622,000,000 Software and Technology 105,000 500 Oracle Parkway Redwood Shores CA 94065 Enterprise Stevens js@oracle.com John Ora| Mgr DATA MANAGEMENT PLATFORM $35,622,000,000 Software and Technology 105,000 500 Oracle Parkway Redwood Shores CA 94065 Enterprise http://www.oracle.com Oracle Corp.Company Revenue Industry Acct Status Employees Address City State ZIP Audience Website Prospect Push winning data set to hidden fields Company Name Autocomplete Email Domain Check
- 24. ©2015 Copyright Demandbase, Inc. Demandbase Confidential. Measure: AGAIN! Are you on your way to achieving your business goals? If not, why? If so, Is it time to expand the program to the next segment?
- 25. ©2015 Copyright Demandbase, Inc. Demandbase Confidential. Overall Strategy and Plan Identified and align stakeholders Establish and agree to target account list and key segments Align all marketing teams on account- based approach Implement ABM across marketing, throughout the funnel Expand to more segments Execute, Measure and Continually Refine!
Notas do Editor
- 1) We focus on volume…. But that’s a total waste of time and money…
- Often the root cause of disconnected and siloed marketing is a lack of alignment on how the company’s two most important revenue producing teams focus their priorities…almost the language they speak Marketing = Individuals first Sales = Accounts first TRANSITION: Subconsciously, we’ve always known that accounts are the standard unit of measure in B2B, but somehow, in marketing we’ve been lured by the siren song of B2C tactics and solutions.
- So how can you overcome these challenges and be laser-focused on the companies you can actually sell to? It’s called Account-Based Marketing or ABM, and it’s quickly becoming the primary strategy for best-in-class B2B companies. Account-Based Marketing can be done in several flavors, but is broadly characterized as targeting and marketing to specific companies or segments based on their business attributes (firmographics) like: industry, size, revenue, geography, account status, and more. 3A. ENTERPRISE There are consultants, agencies, or solution providers that would paint ABM as complex and difficult…they may have a vested interest in that way of thinking. It’s actually very simple and straightforward… And not only helps alignment, but also makes things more simple and clear cut for marketers Many large companies use the strategy to target and market to a specific set of existing customers, across marketing channels, for upsell and cross-sell 3B. MID-MARKET You can’t afford to do something complicated and involved ABM is a great way to focus effort in a specific vertical like tech, healthcare, finance, etc. Or can even include targeting businesses who use a competitive or complementary technology ABM is a very straightforward approach that can help you “hack” revenue growth and get a competitive advantage ABM Simplified: Identify – the accounts that sales values most and is most likely to close Market – attract, engage and convert those account to prime them for a sales opportunity Measure – keep Sales in the loop, and show them which accounts are progressing, which need attention…collaborate on actionable insights
- There are some really good reasons why account based marketing makes sense for B2B businesses… Focuses on the best opportunities… you select, using a solution like Fliptop, the accounts that have the best potential…you’re not going for volume, your are looking for quality ABM supports sales reality… deliver on their target accounts, and you align with the accounts that are most important to them. Deliver a more personalized, customer centric experience by focusing on a more limited set of customers.
- Buyers only spend 21% of the Buying Cycle in Conversations with Salespeople Buyers spend 56% of the Buying Cycle Searching for and Engaging with Content Buyers spend 23% of the Buying Cycle in Conversations with peers and colleagues
- We created the DB3K! We branded it! We made it a “thing” across the company. Everyone knows what that is and understands that that is what Marketing focuses on! talk about options: pull in from data sources, sales target account lists, key segments, prospects vs customers Target Account List Marketing resources dedicated to this Sales will follow up on these leads
- New Metrics for Success Inquires from Target AccountsMQLs, SALs & Pipeline Quality > Quantity ----- Meeting Notes (6/22/15 10:59) ----- Targeted Inquiries - make this a bit broader, comparison btwn target and not, show value What changes: why ABM is beneficial to the organization
- You have limited resources – money, manpower, etc. Why not spend it in the most efficient manner possible? Sponsored events: only do them if 30% of attendees is on our target account list Advertising: only spend money on the accounts we care about Campaigns: segment to deliver relevant content in an integrated fashion: emailadvertisingweb experience Corporate Events: all marketing focused on key segments and target accounts; 400 target account contacts is better than 750 that includes non-target accounts. ----- Meeting Notes (6/22/15 10:59) ----- Pause here. Use this as discussion - group discussions.
- Measure; Is this segment on my site currently? -remember, both offline and online activities drive website traffic!!! So are your methods working to get the right companies there? Attract: Who do you want on your website? How are you going to get them there? Engage: What content and messaging are we using to drive engagement? Convert: How do we drive desired outcomes for this segment? Conversion types - Hits on key URLs (pricing page, contact us, etc.) OR Form Fills OR?
- As we talked about earlier, Find out what you don’t know Company level data in your analytics tool Do you have an attraction issue? Engagement issue? Both? Melissa – as we discussed, it’s the account you care about. Talk a little bit about what you do with the “Hot List” reports we send you every day with your accounts that have been on our site…
- Company-targeted advertising is a new approach for B2B. It’s all about targeting and serving impressions to specific companies vs. individuals. It’s more focused, less wasteful and helps you reach and surround the whole group of stakeholders to start engaging them and build consensus early.