account based marketing

Account-Based MarketingANANT DAS

Account-Based Marketing (ABM) Basics• AKA “Key Account Marketing”• Strategic approach in which an organization considers and

communicates with individual prospects as markets of one• Typically employed in enterprise level sales and marketing

organizations• Developed as an alternative to mass marketing• Old concept, recently resurfacing

Intro Benefits Implementation Challenges Software Considerations

In its simplest form…

Image Source: DemandBase

“Provides a vital strategy for companies that want to create sustainable growth

and profitability within their most important client accounts. Focuses

explicitly on individual client accounts and their needs. More importantly, it is a

collaborative approach that engages sales, marketing, delivery, and key

executives towards achieving the client’s business goals.”

– Information Technology Services Marketing Association (ITSMA)

From the Experts…• ABM is “more targeted and personalized versus spray and pray, where

you’re just trying to capture anyone in your net” – Meagen Eisenberg, CMO, MongoDB

• “Instead of fishing with nets, we’re fishing with spears. You identify exactly the prospects you want to do business with and then you market very precisely and narrowly to them directly” – Matt Heinz, President, Heinz Marketing

• “I define [ABM] as total marketing and sales alignment around who are target customers and the efforts to go get them. They align with the same outcome in mind: to get a specific account as a customer” – Dave Rigotti, Head of Marketing, Bizible

• “Customize our marketing activities and message not just down to a buying center or persona, but right down to the individual” – Dorothea Gosling, ABM Leader, CSC


Creating engaging content is key in B2B marketing.

Content in ABM must be created and delivered quickly to be effective as a

majority of decision-makers in a company are only in the research phase of buying a

product for a few days or less.

Therefore, reusable content and usage of templates are critical.

Intense Outbound Efforts: Telephone calls, Sending brochures and engraved

pens, random meetings at events, constant emailing (which may not be

shared with sales team)

Marketing focused on lead gen and leads

Focus on Conversion Rates

Target lists built annually or quarterly

ABM allows for easier management with multiple

accounts and increased opportunities for personalization

Focus on accounts and understanding key markets

Focus on Conversations

Target lists weekly (because data is fluid and buying cycles are

finite)

OLD

B2B

MAR

KETI

NG

ACCOU

NT-BASED M

ARKETING

ABM is successful because when used correctly, ABM results in a dramatic increase in long-term ROI


,

Image Source: DemandBase

Qualifications for ABM• B2B Model• High-value products or services with a lengthy consider-to-purchase

cycle• An account-based sales model• A keenness to understand the buyer’s individual experiences and

challenges as they are, not as you hope they will be• i.e. can’t just name 20 accounts and then throw generic advertising at

them• The willingness to look for prospects and opportunities outside the

traditional tunnel• The willingness to focus on pipeline and revenue, not volume of leads


Qualifications for ABM• Ability to route leads from accounts to relevant salespersons• Willingness to get in front of people that can buy from you• Understanding of Marketing’s new role

• Listen, advocate, and add insights to the process at every step of the way• Focus on long-term views and not just quarterly results• Responsibility for identifying triggers that indicate a prospect in the making• Ability to customize content in an automated fashion to avoid the need of

an impractically large marketing staff to serve each account

The Magic of ABM is being able to connect the people to the company, understand the personas, and engage with the different individuals in the accounts


“Are You Ready for ABM?” Checklist Commitment to Customer Insights? Readiness to Engage Different Customers Uniquely? Willingness to Take a Different Approach to Content Development? Pledge to Interlock Sales and Marketing? Willingness and Ability to Measure Results Differently?


Criticisms• Just a hyped-up marketing term for a long-established practice• Mainly supports outbound marketing efforts• Puts sales in the driving seat• Benefits are hard to measure


Benefits• Increases account relevance

• Allows for the delivery of messages to target accounts while expanding reach to other influencers and decision-makers within an account

• Engages earlier and higher with deals• Aligns marketing activity with account strategies/sales teams• Gets the best value out of marketing• Inspires customers with compelling content


Data• 71% of B2B organizations are using, interested in, or testing ABM

• 60% of those who have employed ABM for at least one year attribute revenue increases to its use.

• The longer ABM is in use, the more its full-funnel impact is experienced—43% of those using ABM for at least three years report that it impacts the entire funnel, compared to just 12% for those who have used ABM for two or fewer years.

• ABM boosts sales and marketing alignment—70% of ABM users report that their sales and marketing organizations are mostly or completely aligned, compared to just 51% for non-ABM users.

• More marketers are relying on ABM; 83% of ABM testers and 72% of ABM users have plans to increase their usage of ABM in the coming 12 months—nobody has plans to decrease ABM usage.

• One company reported a 389% increase in accepted leads


ABM Solutions• How to bring funnel-based engagement strategies into new areas of the

company• Unbalanced inbound-only strategies that depend on an incredible

amount of in-house content creation• How to not only focus on the demand gen funnel, but also the adoption

and renewal funnels• How to incorporate LinkedIn• How to convey information on the internet that is NOT poorly organized,

static, or unfocused• How to provide consistent materials at multiple locations and touch

points both online and offline with options on how to be engaged


CASE STUDYNorthrup Grummon on Virginia Information Technology Agency (VITA) Deal

Case Study1. Built deep understanding of VITA’s goals and objectives to win the

contract• Defined key theme and target audience• Worked with business development on how to reach the right people with

the right messages at the right times and places

2. Campaigned building on its knowledge of VITA


Case Study1. Built deep understanding of VITA’s goals and objectives to win the

contract2. Campaigned building on its knowledge of VITA

• Raising awareness of VA roots and their tech expertise• Advertising focused on NG has a vital, longtime member of VA’s business

community as well as on the company’s people-focused culture• Grassroots efforts focused cross the state, especially in SW VA, where

company executives spoke at community events and higher-education venues and submitted op-ed pieces to local newspapers

• Developed a video featuring NG employees on their experiences at NG and working in VA

• Sponsorships selected based on tech content


Case Study3. Campaign had great impact, but customer experience cinched the

deal• At every single touchpoint with client, NG reinforced that it had what VITA

was looking for (the expertise and roots)

4. Participation of senior-level executives were key to demonstrate NG’s commitment to the state’s success


Case Study3. Campaign had great impact, but customer experience cinched the

deal4. Participation of senior-level executives were key to demonstrate

NG’s commitment to the state’s success• Media Interviews• Speaking Engagement• Community Outreach


How to Start?

Align Pilot

Build

Standardize Scale


Specifics (Game Plan)Discover & Defin

e High-Value Accounts

Define

Personalized &

Effective

Messaging

Determin

e Optimal

Channels

Execute & Deploy

Targeted

Campaigns

Measure, Analyze, Learn, & Optimize


• What attributes determine your target accounts?• Key attributes to evaluate data include:

• Firmographic Data • Sales Named Accounts • Digital Behavior • Strategic Needs

Accounts Personal Messaging Determine Channels Campaigns Measure


• Firmographic Data – Map the target industries, sizes, and locations of your ideal target accounts

• Sales Named Accounts • Digital Behavior • Strategic Needs



• Firmographic Data • Sales Named Accounts – Use lists of target accounts allocated to sales

• Review Sales history in terms of average deal size and sales cycle to identify additional prospects

• Digital Behavior • Strategic Needs



• Firmographic Data • Sales Named Accounts • Digital Behavior – Understand the customer journey, product interests, and

target personas of your ideal prospects• 60% of marketers say personalized messaging based on digital behavior is their

top challenge to find a real-time solution for this barrier• Strategic Needs



• Firmographic Data • Sales Named Accounts • Digital Behavior • Strategic Needs – Identify accounts from target markets to support

company’s strategic goals


• Don’t only focus on customer acquisition, but also selling more to more companies• Cross-selling and upselling an existing customer is much easier than

engaging and winning new accounts• More leads don’t necessarily lead to more revenue; more

engagements from accounts-most-likely-to-buy do• Most of your future customers will look like your current ones• Audience targeting is only as good as the data that informs it


• Don’t only focus on customer acquisition, but also selling more to more companies

• More leads don’t necessarily lead to more revenue; more engagements from accounts-most-likely-to-buy do

• Most of your future customers will look like your current ones• Audience targeting is only as good as the data that informs it




• Most of your future customers will look like your current ones• Target companies that have a record of investing in a product category

• Audience targeting is only as good as the data that informs it




• Most of your future customers will look like your current ones• Audience targeting is only as good as the data that informs it

• Data integrity in ABM is paramount• Data expires quickly, stay open to a wider demand-gen program • Predictive data from a wide-open campaign is the fuel for an ABM

campaign


• Work with sales to clarify goals, define success, and define metrics• Work with sales and develop clear criteria for account selection and

target only a small number of accounts for ABM• Pipeline Marketing:


• Work with sales to clarify goals, define success, and define metrics• Work with sales and develop clear criteria for account selection and

target only a small number of accounts for ABM• Pipeline Marketing:

• Expand not just the middle of the funnel, but the top and bottom and engage users at every stage of the buying cycle

• Don’t jump headlong into a named-account program. You only learn from the data that enters the funnel. If the top is narrow, then ABM won’t be effective


• Map content to target accounts and assess which content pieces will be most effective at each state of the customer journey and which accounts are responding to assets• 75% of executives will read unsolicited marketing materials that contain

ideas that might be relevant to their business, such as success stories, research reports, and webinar invitations

• Get to know buyer intimately• Develop personalized and effective messaging that appeals to both

rational and emotional needs


• Map content to target accounts and assess which content pieces will be most effective at each state of the customer journey and which accounts are responding to assets

• Get to know buyer intimately• What are their corporate strategies?• How can your product help them be more successful?• Use data to develop a keen understanding of both the buyer journey and

persona• Develop personalized and effective messaging that appeals to both



• Map content to target accounts and assess which content pieces will be most effective at each state of the customer journey and which accounts are responding to assets

• Get to know buyer intimately• Develop personalized and effective messaging that appeals to both



• Map content needs using a matrix that qualifies the when, what, and where• What content at which buyer stages in preferred formats via what best

channels• Create a content-quality checklist


• Map content needs using a matrix that qualifies the when, what, and where

• Create a content-quality checklist• Ensure each content piece effectively addresses the needs it has been

created to meet


• Some content does not work for each prospect• Create optimized touchpoints for the lead nurture plan

• Magazines, offline events, and snail mail campaigns can be combined with website, social, PPC, blogs, referrals, and email engagements to create a complete engagement map

• Plan your buyer’s journey around the account• Content needs to be personalized to each team member’s needs at

the various stages in the purchase journey – all should be marketed differently


• Some content does not work for each prospect• Magazines, offline events, and snail mail campaigns can be combined

with website, social, PPC, blogs, referrals, and email engagements to create a complete engagement map


the various stages in the purchase journey – all should be marketed differently


• Some content does not work for each prospect• Magazines, offline events, and snail mail campaigns can be combined

with website, social, PPC, blogs, referrals, and email engagements to create a complete engagement map


the various stages in the purchase journey – all should be marketed differently• Across multiple touchpoints, channels, and devices to people with different

roles on the team


• Effective campaigns in ABM are speedy and relevant• 82% of prospects value content targeted to their specific industry• 67% of prospects find content targeted to their job function valuable

• Present content in real time to nudge them down the sales funnel• Make sure sales teams are in the loop during this step• Nurture on the account level to stay top of mind


• Effective campaigns in ABM are speedy and relevant• Present content in real time to nudge them down the sales funnel• Make sure sales teams are in the loop during this step• Nurture on the account level to stay top of mind


• Effective campaigns in ABM are speedy and relevant• Present content in real time to nudge them down the sales funnel• Make sure sales teams are in the loop during this step

• Work with sales to align messaging (from emails to scripts) for these accounts you are targeting

• Nurture on the account level to stay top of mind


• Effective campaigns in ABM are speedy and relevant• Present content in real time to nudge them down the sales funnel• Make sure sales teams are in the loop during this step• Nurture on the account level to stay top of mind

• Don’t get too caught up in individual leads, focus on the accounts (In B2B Marketing, sales, not leads, close accounts)

• Use ABM to put a message in front of all the decision-makers who influence the deal


• Trade-shows and similar events• Before the event, try to get a list of current or previous attendees from the

organizer• Focus on the actual accounts that these attendees work for when planning

your targeting• Create a landing page where attendees can reserve appointments with you• Run account-level highly-targeted ad campaigns to drive attendees toward

your landing page• Post-event, use actual attendee list to target the entire company or specific

roles within each company with content-oriented ads


• Track the entire sales and marketing funnel when calculating results• Are you able to appeal to targeting accounts?• Are they engaging with you and going to places you want them to go?• Is this all integrated with the sales process?

• Measure more than just lead volume• Use count-based metrics• Big metrics:


• Track the entire sales and marketing funnel when calculating results• Measure more than just lead volume• Use count-based metrics• Big metrics:


• Track the entire sales and marketing funnel when calculating results• Measure more than just lead volume• Use count-based metrics

• Cannot improve what you cannot identify and attribute• In ABM, you can easily attribute activities to certain actions by tracking

accounts rather than a single lead• Big metrics:


• Track the entire sales and marketing funnel when calculating results• Measure more than just lead volume• Use count-based metrics• Big metrics:

• Coverage• Awareness• Engagement• Program Impact• Influence


Implementation Ideas• Breathe New Life into Dead Accounts aka “Waking the Dead”

• i.e. revive cold and inactive leads• Sending more emails is not the answer• Instead…

• Decide what qualifies as a “dead account”• Develop light messaging that is helpful to all contacts within the account• Find more than one champion in the account with a variety of content offers• Optimize as you go to increase your chances of success

• Ramp-up Big-time Brand Awareness on a Small Budget


Implementation Ideas• Breathe New Life into Dead Accounts aka “Waking the Dead”• Ramp-up Big-time Brand Awareness on a Small Budget

• Ad spend with ABM is less than a traditional campaign because you are starting with a much smaller list of companies

• With a more targeted campaign, ROI is greater


Lead-to-Account• L2A is what in ABM aligns marketing and sales efforts

• Gets rid of duplicate efforts• Sales receives history of lead

• Gives birds eye view• Allows sales to discover every stakeholder who may impact the buying

cycle• Allows marketing opportunities for measurements


Lead-to-Account• L2A is what in ABM aligns marketing and sales efforts• Gives birds eye view

• Leads that sales team acquires are shown individually in Salesforce/Pardot, so the salesperson cannot see if or how each lead relates to others in the same account• E.g. no way to tell if there’s more than one lead within a given account• To link leads to account and perform other data management tasks can waste

time• Email mining solutions and automation are available

• Enables for messages to be targeted with pinpoint accuracy• Allows sales to discover every stakeholder who may impact the buying



Lead-to-Account• L2A is what in ABM aligns marketing and sales efforts• Gives birds eye view• Allows sales to discover every stakeholder who may impact the buying



Lead-to-Account• L2A is what in ABM aligns marketing and sales efforts• Gives birds eye view• Allows sales to discover every stakeholder who may impact the buying


• Know with certainty whether a new lead represents a new opportunity and which campaign or source to give credit to


Challenges• Increasing brand awareness with budget constraints (B2B in General)• Finding new, more effective metrics• Having too narrow of a focus• Thinking too short-term• Leads do not always roll up to accounts in Sales Force


Challenges• Increasing brand awareness with budget constraints (B2B in General)• Finding new, more effective metrics

• Don’t look at quantity of leads, look at quality• Metrics such as leads, attendees, website traffic, open rates, and click-

through rates are helpful, but essentially need to be retired• Metrics such as pipeline, revenue, account-level engagements, and

personalized campaigns will become the norm• Having too narrow of a focus• Thinking too short-term• Leads do not always roll up to accounts in Sales Force


Challenges• Increasing brand awareness with budget constraints (B2B in General)• Finding new, more effective metrics• Having too narrow of a focus• Thinking too short-term

• There is no instant gratification like with downloads, clicks, or open-rates• Marketers need to be in it for the long-haul

• Leads do not always roll up to accounts in Sales Force


Mistakes to Avoid• Sales & Marketing not on the Same Page

• “Smarketing” not meeting as a team• Sales must be all-in• Aligned on the following:

• Which accounts to target• What does success look like for this program• What is the scope of work for both teams• What type of content and tactics are needed to fuel this strategy

• Not having a defined target list


Mistakes to Avoid• Sales & Marketing not on the Same Page• Not having a defined target list

• E.g. New Business Not yet done business, little to no sales traction• Expansion within current customers• Churned Customers Customers you may have lost but still viable to use

your products or need to know of product updates that might bring them back


When Leads are not Tied to Accounts…• When leads are routed by territory (geography, company size, etc.)

they often end up going to the wrong owner• Leads don’t get scored or nurtured properly – all the info necessary

isn’t available with the lead• Sales productivity decreases – sales should have to research more into

a lead after receiving it• Customers can have bad experiences• Activities and engagement cannot be measured – no real way to figure

out which campaigns do the best job


ABM Technologies• Demandbase• Engagio• LeanData• Terminus• Vendemore• LeadGnome
