Allocadia Webinar - Creating the Foundation for ABM (feat. Engagio)
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The Account-Based Marketing (ABM) movement is in full force — and for good reason. Marketers are seeing the value in becoming more targeted, more personal and better aligned with sales. The momentum in the category is real, but many organizations are still just getting started with ABM. To create a high performing Account-Based Marketing organization, marketers must first build a strong foundation. They must start with planning, investment choices and impact measurements — and they must understand how these categories change as their organization moves to ABM. In this webinar, Engagio’s Jon Miller and Allocadia’s Sam Melnick will discuss why marketers must start with these core elements of an ABM strategy or otherwise risk failure. Some key questions that will be answered: - How can I incorporate ABM into my strategic marketing plan? - What changes do I need to make to my marketing mix when I invest in ABM? - How do I prove the impact of ABM on Marketing Performance? This webinar should be attended by marketers who are already utilizing, in the midst of planning for, or just starting to consider Account-Based Marketing. Join us in the third webinar in our “Run Marketing” Series, designed to enable marketers to Run Marketing with confidence and drive business impact.
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Allocadia Webinar - Creating the Foundation for ABM (feat. Engagio)
- 2. 2 Today’s Speakers Sam Melnick Director, Customer & Marketing Insights @SamMelnick Jon Miller CEO & Co-Founder @JonMiller
- 3. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 3 Different Demand Types SiriusDecisions Account Based Marketing Demand Generation Account Type Pipeline KPI Averages Large: Strategic Enterprise Named/Territory Small/Midsize and Non-Named Influenced: 60-75% Sourced: 15-25% Influenced: >75% Sourced: <10% Influenced: 50-60% Sourced: 25-45%
- 4. Salespeople never talk about how many leads they’ve closed. They talk about how many accounts they’ve closed.
- 5. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 5 Nets versus Spears Demand Generation Account Based Marketing
- 6. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 6 ABM Today is Like Lead Nurturing in 2008 • Returns on inbound flattening • Marketing and sales ready to work together • Technology is emerging The Next Big Thing? Google Trends
- 7. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 7 Shaky Foundation 7
- 8. 88 Today’s Marketers Have Two Jobs Customer Create Engaging Customer Experiences by Overseeing the Customer Lifecycle Do Marketing CMO Manage and Optimize the Business Of Marketing Run Marketing Must Coexist
- 9. 99 Do Marketing – Front Office of Marketing Actions: • Drive Demand • Grow Market Share • Execute Campaigns Across the Organization Technologies: • Marketing Automation • Ad-Tech • Content Marketing Customer Create Engaging Customer Experiences by Overseeing the Customer Lifecycle Do Marketing
- 10. 1010 Run Marketing – Back Office of Marketing Actions: • Strategic Planning • Investment Planning & Budget Management • Performance Measurements & Optimization Technologies: • Marketing Performance Management Software • Excel • PowerPoint CMO Manage and Optimize the Business Of Marketing Run Marketing
- 11. 1111 Marketers Must Merge Both Jobs To Successfully Manage the New Customer Lifecycle Plan Convert Run Marketing (MPM) Do Marketing (Execution)
- 12. 12 Defining Marketing Performance Management Marketing Investments Measurement & Insights Marketing Planning Marketing Performance Management
- 13. 13 Plan Invest Measure Foundation of Account-Based Marketing
- 14. 14 Marketing Planning • Includes: “what are we going to do” and “what is our excepted output” • Iterative process – adjustments should be expected • Must align with corporate objectives Marketing Investments Marketing Planning Measurements & Insights
- 15. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 15 • Scale – How many accounts will be in your program? How big are the deals? What resources are available? • Scope – Will you start with a small pilot? Will this be an intensive, high-touch approach for a few big accounts or a more scalable effort targeting more companies? Will this replace or augment traditional demand generation? • Strategy – Is this mostly about growing existing accounts, winning new logos or both? 15 Planning for ABM
- 16. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 16 • ABM demands a level of alignment that sales and marketing have rarely exhibited before • Make sure the account execs, SDRs and marketers are 100% committed to this strategy. Anything less is a recipe for friction. 16 Planning for ABM
- 17. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 17 ABM campaign planning starts with the account, not the offer What do we want to say? (offers) Who should we say it to? (segments) Who are we trying to reach? (accounts) What should we say? (content) Where should we say it? (channels) Where should we say it? (channels) DEMANDGENABM Planning for ABM
- 18. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 18 ACCOUNTS CONTACTS INSIGHTS CONTENTINTERACTIONS ORCHESTRATION MEASUREMENT ABM Market Map WHO WHAT WHERE
- 19. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 19 Tier # of Accounts Insights Tactics “Classic” Tier 1 5 to 50 [Tens] Full profiles Quarterly updates • Bespoke 1:1 Campaigns “Lite” Tier 2 ~200 [Hundreds] Basic account profiles Annual updates • 1:Few Campaigns Tier 3 1000s [Thousands] Industry or segment • Traditional Marketing with Account Targeting • MQAs Styles of ABM
- 20. Level 1: Reps Self-Select Level 2: Basic Data Level 3: Advanced Level 4: Predictive Analytics Sophisticated predictive scoring and modeling. Adding purchased data and more advanced scoring or modeling Adding in manually collected data and simple scoring Based on intuition and experience.
- 21. 21 Marketing Investments • Without the “I” there is no ROI • Think about investments in multiple dimensions • You are what you invest in! Marketing Investments Marketing Planning Measurements & Insights
- 22. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 22 Account Based Marketing is a Marathon • Average days to Opp: 327 days (Marketo) • Prospected accounts take 1.7x longer to convert than average (Implisit, 2014) • 7 to 13+ touches to deliver a qualified sales lead (Online Marketing Institute) “You can’t wait a year to see results [in ABM]” - Megan Heuer, SiriusDecisions
- 23. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 23 Questions on ABM Investments • Headcount vs programs • Is ABM all or nothing? • Spend categories: more SDRs, more outbound efforts, more insight
- 24. 24 Measurements & Insights • Measurements must tie back to targets • Different audiences will needed different measurements & insights • Insights are the end goal – You want to make better decisions! Marketing Investments Marketing Planning Measurements & Insights
- 25. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 25 • Account-centric metrics • Quality, not quantity • Need “top of funnel” metrics • Influence
- 26. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 26 Engagement • Higher engagement means deeper commitment • It’s about time: use the number of minutes that someone spends with your brand • Track everything, online and offline Concept 1
- 27. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 27 Lead to Account Matching Concept 2 Leads Leads in SFDC are not connected to the Account object Account • Can’t tie activity to the right account • Routing problems • Hurts campaign attribution
- 28. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 28 Lead to Account Matching Concept 2 Leads Account • Fuzzy logic
- 29. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 29 Coverage Do you have sufficient data, opt-in contacts, and account plans for each target account? “Big 5” ABM Metrics (1a)
- 30. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 30 Coverage How well are you adding new / engaged people to the database? Director-level and above? “Big 5” ABM Metrics (1b)
- 31. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 31 Awareness “Big 5” ABM Metrics (2) Which target accounts have any awareness of us? Are they visiting the website?
- 32. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 32 Engagement “Big 5” ABM Metrics (3a) Are the right people at the account spending time with your company? Is that engagement going up over time?
- 33. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 33 Engagement “Big 5” ABM Metrics (3b) Is that engagement going up over time?
- 34. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 34 Engagement “Big 5” ABM Metrics (3c) Marketing Qualified Account (MQA): An account (or discrete buying center) that has reached enough aggregate engagement. Which accounts are engaging the most?
- 35. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 35 Don’t count the people you reach; reach the people that count. – David Ogilvy
- 36. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 36 Program Reach “Big 5” ABM Metrics (4) FOCUS %ofsuccessesfrom targetaccounts COVERAGE % target accounts with a success Are marketing programs reaching the target accounts? How much waste is there?
- 37. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 37 Program Impact “Big 5” ABM Metrics (5) • “Top 25% engagement = 18% faster sales cycles.” • “Accounts with >three engaged contacts = 15% higher contract values.” • “Accounts that attended that dinner = 16% more movement to next opp stage.” How are the ABM activities improving sales outcomes such as deal velocity, win rates, average contract values, retention, and net promoter scores?
- 38. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 38 Coverage: Awareness: Engagement: Reach: Impact: Do you have sufficient data, contacts, and account plans for each target account? Are the target accounts aware of your company? Are the right people at the account spending time with your company, and is that engagement going up over time? Are marketing programs reaching target accounts? Are ABM activities improving key sales outcomes?
- 39. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 39 Impact: Coverage: Awareness: Reach Engagement: Are ABM activities improving key sales outcomes? Do you have sufficient data, contacts, and account plans for each target account? Are the target accounts aware of your company? Are marketing programs reaching target accounts? Are the right people at the account spending time with your company, and is that engagement going up over time?
- 40. Copyright ©2016, Engagio Inc. CONFIDENTIAL – DO NOT DISTRIBUTE 40 May 2016 Oct 2015 EOY 2016
- 41. 41 3 Take-Aways on Building the Foundation of ABM • Demand generation is fishing with nets; account based marketing is fishing with spears • The key to ABM success is planning – picking the right accounts, in alignment with Sales • Leads are insufficient to measure account-based marketing; measure via coverage, awareness, engagement, reach & impact
- 42. 42 Thank you! Sam Melnick Director, Customer & Marketing Insights @SamMelnick Sam.Melnick@Allocadia.com Jon Miller CEO & Co-Founder @Jonmiller Jon@engagio.com
Notas do Editor
- James: -Introduction to topic. Excited to partner with Jon on such a hot topic. Why Plan Invest measure? Marketers want to jump right in and execute. However not the right approach – must take the time to set the foundation of whatever they are doing, whether it be ABM, content, predictive. So excited to really dive into this on the ABM side and give everyone some key take aways as you go down this ABM journey and reiterate the importance of the operational aspects of marketing!
- James: Introduce Jon & Sam. Introduce format – Jon will walk through ABM @ a high level, - then sam will introduce the Plan/invest/measure framework and how we look at it at Allocadia, specifically around MPM - Go through each stage Plan/invest/measure for ABM Hand over to Jon.
- ABM is an investment in time and resources so you MUST focus on accounts with highest ROI
- Why now? What about mobile, social, cloud, etc. makes this inevitable? Harder than ever to reach decision makers with traditional tactics New ways to reach buyers (individually-addressable touch-points, real-time ad buying) Shift from campaign-marketing to “always on” mindset requires integration Big data / predictive analytics allow marketers to understand the complexity of relationships and buyer context, and match personalized content accordingly Buyers delaying engagement with sales ; harder to reach CXOs {happened in velocity, needs to happen in XYZ} Decomposition of the nice/clean customer funnel… no longer just awareness, familiarity, consideration, etc. Useful model, but. Really a set of nodes, interactions (through a connected device) New ways to reach buyers Proliferation of “connected customers” and customer data -- smart phones, smart devices (50B connected devices) behind every device is a customer → data proliferation From campaigns to “always on” Big data / predictive (understand the complexity of the relationships, context) Needs new ways to measure
- Ok thanks Jon, so that was a great overview on ABM, certainly a topic that a lot of people are focused on today and we are all learning more about in large part your leadership in the space. But before we really dive into planning, investing and measuring for ABM, I want to take a step back and talk about the importance of these areas, plan – invest - measure. Really as marketers our tendency is to jump right in and “do” or execute. I do it for sure, my natural instinct is to just produce…but, often this is not the best approach ---marketers must take the time to set the stage for their success through planning investing and measuring... I’m going to quickly walk through how we view these two parts of marketing’s job
- And what is so important to understand is – marketers won’t be successful unless both the do --- and run parts of marketing coexist. They cannot sit in silos and can not be performed separately. This is all encompassing for marketing and certainly true to for ABM.
- Just to dive in a bit deeper on each of these First the do part of marketing this is all externally facing activities ---- demand gen, growing market share, and pretty much any outward facing campaigns. For technologies you would expect to see automation, ad technologies, the majority of content. And really lots of attention is spent here and the majority of the MarTech VC dollars go into this area.
- The Run part is what you would consider more of the strategic arm of marketing. This is what we’ll be diving into with Jon in a few moments around ABM. But it’s the strategic planning and investments. And performance measurements and insights that help optimize marketing. Unlike the Do side, the run marketing area doesn’t always get quite as much attention from the market ---though that is changing --- When you look at the tech stack marketing performance management software is a growing market, but the reality is most marketers are using excel and powerpoint or even borrowing technologies from finance or IT --- that’s not ideal.
- And really to bring it back all together ---- marketers have to merge the run and do the do parts of their jobs to be successful. This image is how we look at the merging of these functions at allocadia – often marketing organizations start with the planning moving into investments, then the execution phases, bringing it back to the measurement analyzing and optimizing, which really are the money phases --- this is where the marketing organization is adjusting and making sure the best actions are being taken moving forward. As you look at this image we excution on the right and then marketing performance management on the right.
- And just to take a deeper look into MPM – it really revolves around these three phases. Planning – investments – and measurements. This what we focus on at Allocadia across the entire marketing organization. That’s what we will focus today with Jon around ABM. But most importantly, these are the 3 areas that are constantly occurring for ---EVERY --- marketer. And to be successful there must be a respect and time put into Marketing Performance management. Understanding where you plan to spend. Measuring what you actually spent and on what. Tracking how spend and results align with corporate objectives. And ultimately, using that information to drive better marketing decisions. What are you going to do next
- So now let’s focus on these 3 phase with Jon… How this will work is we’ll go through plan invest and measure individually, I will give high level guidance on each and then Jon will dive in on specifics on BM
- So first let’s look at planning. This is includes both what are you going to do and what is expected – this is important as plans must go beyond just the actions you will take, but what your going to get out of them. Expect plans to change. There is no “set it and forget it” with marketing planning – this must be fluid and you need to be agile. Finally, plans should align horizontally across the organization and vertically with corporate objectives and goals. This connection must be made otherwise plans will fall short.
- Wrong: what we want to say, how we want to say it target the right people RIGHT: who we want to target what and how to say it
- Account-based on Sales and Success; not marketing open to influence as a metric
- Everyone wants to talk about ROI, but often we see almost too much attention on the R, but without controlling and understanding your investments, you will never get to ROI…you need to remeber to start with the I and then move to the R... Think about marketing investment beyond just a single view ---how much are you spending in different regions? How about across different stages of the buyer’s journey? What about awareness vs demand? Investments are just one dimensional, as a marketing your need to look at your marketing spend similariy to your own personal investments, take different views to answer different questions. Finally, I’m a foodie – so the phrase ”you are what you eat” rings true. Similary as a marketing organization “you are what you invest in” --- if you invest primarily in ABM tactics you are an account based marketing organization. If you even mostly in events, you are an event based organization...ultimatley the data will not lie and your marketing investment dollars will tell you what type of marketing organization you are.
- Funding – how will you know it’s working? You need to get proper funding for a program that won’t deliver clear revenue immediately – possibly for a long time. If you hide this fact when you make your business case, you’re putting a time bomb inside your ABM program. Instead, make sure executives all understand the timescales and the metrics you’ll be using to ensure you’re making progress towards revenue. The companies who stay with their ABM strategies and track the right metrics invariably show significant return on their investment. But success is not measured in weeks (or even months in many cases).
- So finally, measurements and insights - --- Key point here, you have to have a target or something you are aiming for when it comes to measurements, this goes back to planning, setting targets are so so important, you can’t do measurements in a vacuum otherwise you don’t know what success is. Depending on who your audience is ---they will need different types of measurements or insights. Your CMO will want different information than the North American Field Manager. So understanding which questions each key stakeholder wants answered will be integral to determining the needed measurements. Finally, insights insights insights. The goal of measurement is not just put them into a dashboard and look at them. You want to arm yourself and your organization to make better decisions. We always want to be improving our marketing!
- The “law of large numbers” breaks down in narrow funnel -- can’t use vanity metrics, can’t count on volumes Only need one deal to make a program ROI look good – noisy data