like practically all of the marketing innovations we’ve ... · like practically all of the...
TRANSCRIPT
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Like practically all of the marketing innovations we’ve all experienced over the
past decade or so, the reality of ABM is that there’s significant real value in the
concept, and we recommend it to many if not all clients. That said, capturing
that value is highly dependent on how a team defines the opportunity and then is
truly enabled to pursue it.
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As Matt explained, ABM isn’t a monolithic concept … what you’re doing in the
space could be totally different from where someone else is focused. And
obviously no single vendor or service provider has a monopoly on what will
make the most sense for you.
Our perspective is that improved insight – better data quality, relevance, usability
and timeliness – provides the most leverage to marketers of anything out there.
Right now, we have over 200 implementations executing more than 300 ABM
actions a month delivering real value from this right now.
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If I were to try to net all that we’re doing with clients to just two major learnings, it
would be:
Number 1) that without a doubt, the data-driven approach to ABM helps
companies create significantly better engagement with their most important
audiences – engagement that makes sure their target audience know and care
about what these vendors offer.
And Number 2), that the data-driven approach clearly results in more
opportunities and more wins – because the people who create pipeline have a
much better understanding of their target audience and how to address their
needs when engaging with them.
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As we’ve gained experience in ABM with our clients, we’ve come to recognize
that the biggest challenges fall into two main categories.
1st, there are challenges that arise from complexity, whether organizational,
conceptual, systems or process oriented.
And 2nd, there are challenges that arise from gaps in information, in
communication, in capability and in available resources
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When ABM starts out strong but fizzles, it’s usually happens because you’ve got
an inspired but small team taking on to big a task with a dangerously high
degree of visibility.
The key learning is that full-blown ABM is a significant undertaking. You need to
start small, stay really focused, and look for base hits.
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Where we success from the start is when the ABM team makes super sure that
they have clear and agreed answers to these 3 categories of question:
Who exactly should they be targeting? And from there, who exactly has to be on
the ABM team? This establishes and simplifies communication and
collaboration needs.
What exactly can they be effective in doing – where exactly should they and can
they focus? And what specific actions are they actually planning to take?
Finally, how can they make these agreed actions happen – with some degree of
repeatability or sustainability? What combination of internal capabilities do they
truly have in place already, and what do they need to source from third parties to
fill their gaps?
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As we see it, the first critical step in ABM is to define your program in terms of
the who, what and how that is likely to work for you -- and then construct your
core team accordingly.
Experience has shown that there are three constituencies you should consider
involving.
Solution or Product people who guide strategy, positioning and messaging,
Field/Executional marketers, and some significant part of the Sales organization,
who together major in execution.
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If you have good resource and good connections to the product or solution
areas of your company, we see clients achieving real success by collaborating
here to develop more effective content for the companies on their ABM lists.
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When a real working coalition can be built with Sales to focus on pipeline
contribution – because you believe you have the resource to sustain it –
obviously a focus on direct contribution makes real sense.
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The fact is, that for either starting point, our clients are finding that real success
is super dependent on a combination of having the right information and the right
enablers, the services required to take action on it. Successful clients make
sure to fill both these gaps.
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Over time, of course, your ABM program is likely to span all three constituencies
and use a combination of both internally and externally sourced capability.
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With a firm coalition concept in place, you’ve answered part of the Who
question. You’re now ready to start work on the rest.
We’ve built our offerings to provide immediate answers to your who, what, and
how questions.
Most clients take the next step by putting their ABM account list into our Priority
Engine portal to enrich the list and thereby better inform themselves for effective
action.
Priority Engine tells you exactly which accounts and which contacts matter,
begins explaining what topics they’re interested in -- and that enables you to
start doing better marketing.
You get account activity, prospects, leads, topics, timing and more.
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Here’s an example. The client provided their list to Priority Engine.
They could see that 57% of their list was currently active on their offering area –
848 companies, with 2,238 individuals creating 4,930 specific intent signals.
In addition, from the month-to-month churn detail, we can see that there is a
high degree of change in this market over a given 30-day period.
A major takeaway here is that to capture demand here, they really need to be
able to act on this information very quickly, or they will lose the signal and the
opportunities could easily completely pass them by. This is an area where many
of our clients leverage our ability to execute marketing on their behalf so they
can be “always on”.
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So here’s a little of how we enable them to act – we show them What to do.
Priority Engine tool can tell you precisely which competitors have been
attracting interest from the market and which core topics are resonating most.
Based on your own understanding of your product versus theirs, you can enable
Sales to position your offerings or deposition theirs as part of your pitch
scripting.
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I’ve just shown you two significant tactical steps, simple gap fillers that give you
much better list to work with, and better understanding of what to say, right
away. Now let’s get more strategic, because the deeper you get into your
program, the more you can get out of insights like these.
I’ve taken the ABM team roles and lined them up against specific use cases for
purchase intent insight and related services. From this list of 12 use cases, and
there are a ton more, let’s take a quick look at three big ones in red
From the top, you can use these insights to solve issues with your positioning
and messaging.
In the middle, like in the churn note, you can use it to make sure you are
engaging with the right companies and contacts at the right time
And to really drive up Sales productivity, you can arm your team with both the
right people to contact at the right time, and precisely the right conversations for
them to have.
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Now let’s take a look at a case where we put this all together. Here’s a case
from the Storage market.
On the left, we can see the top purchase drivers and features that are
resonating with their target audience overall.
On the right, we see the vendors being considered in real deals that we’ve been
analyzing as part of their ABM program. Our Client, Client X, is doing pretty well
at #3. But they think they can do better.
And that’s the point of ABM – to do better with at least a core set of accounts.
So how do we make that happen?
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Together we zoomed even more closely and find that on one major purchase
driver, whereas certain competitors gained interest on this variable, our client
was losing ground on it:
On the Performance driver, Client X lost nearly 10% of the available
consideration – the active demand in the marketplace.
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Furthermore, among the demand in the market that had a high preference for
Performance as a driver, Client X was hardly engaging with this audience and
their demand at all.
Among the top 500 accounts considering flash storage around this variable, they
ranked a distant 9th .
So what does this tell us: If Client X wants to do a better job with those
accounts who value performance, it has to address its messaging, probably it’s
execution against this audience sub-set – where we can help -- and maybe it’s
product as well.
This case shows how deep a well-enabled ABM program can get -- how it can
surface strategic issues that when addressed, will lead to performance gains.
This is certainly strategically focused ABM. It’s not for everyone but it’s the kind
of thing that is making ABM a winning approach for those who want to really
make things happen.
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So obviously with 200 clients to talk about, I could go on all night like this.
Let me instead close by returning to where I started to wrap it all up.
We’ve talked about simplifying complexity and closing gaps across three very
basic but powerful questions – Who? What? And How?
I’ve addressed the Who and What in two ways – 1 focused on your processes
and organization, the other on our insight that provides you direct access to
active, named buyers and what they are interested in.
I then showed a little about What our purchase intent insight can tell you about
your audience and What you can do about it or we can do on your behalf.
And then I showed a little about How you can get real value from this stuff –
which you can do by both bringing it into your own systems and processes,
because we integrate with those, and by working with us to better understand root
cause issues and to use us as an extension of your capabilities to take action on
what you find.
I know I went fast but I hope this has been a helpful introduction for you. And
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now Matt and I would be happy to take some of your questions
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