Long time to scale
Can’t easily double
Inbound saturation
“Column B” syndrome
“Inbound dependency”
Indirect learning
Hard to tie activity to impact
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
Account centric good!
But, if Sales and Marketing are both taking an account-based approach but don’t know what the other is doing, that’s a recipe for trouble.
One part of the group in isolation makes this decision (e.g. do ABM), and that doesn’t work.
If Sales and Marketing are both taking an account-based approach but don’t know what the other is doing, that’s a recipe for trouble. [Requires SFDC tracked properly.]
One part of the group in isolation makes this decision (e.g. do ABM), and that doesn’t work.
Marketers are currently only getting 15-20% penetration into target accounts [TOPO]
ABM does not work in isolation – ABE is the mandate
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
Need to LISTEN
“You’re going to have to spend some money to be really good at account based marketing. But it’s OK because it’s the accounts that will make you the most money.”
To move to the enterprise, MuleSoft moved to “Sales Development Consultants” not SDRs
They’re the quarterback; the don’t OWN the account, but they LEAD the effort
SDRs know more about what’s happening at the account than AE, so have SDRs do territory reviews with Sales before their territory review
TOPO: In traditional outreach, SDRs send large volumes of emails to multiple accounts, make calls to a subset of contacts, and hope that enough buyers will respond. Because account-based SDRs focus on a fixed number of accounts, they maximize their reach using all channels at their disposal.
So what is a play? Imagine a football play. There are 11 people on our side and 11 people on their side. Each person has a responsibility in the play.
Most tools out there now focus on one lead or contact at a time… “Single Player”.
Engagio plays are “Multi-Player” and work with multiple people on your team and the account.
<CLICK>
Look at all these people who interact with your accounts across different departments. For this example we will pick out three people to run a sample play.
We want Fozzie over there to send a bottle of wine to the CEO of our target account.
Kermit our own leader will email him as a followup after the wine is delivered.
And finally we have Bert. He is going to email the director of marketing and followup with a phone call.
Even simple plays like this can get really complicated. It can be incredibly hard to avoid mixed signals and timing problems.
We believe there needs to be a solution that helps coordinate things like this.
Let me show you how we do that at Engagio.
<CLICK>
Meetings not Opps
A = Authority. When you are talking to the decision maker, make sure to make note of what their title and function is so you can align their needs with your product. This will go a long way when you pitch to them! Hitting what matters to them shows you know what their pain points are.
N = Need. Make sure to find lists of companies in the target industry you’re seeking and their size.
U = Urgency. Keep up with companies and their latest news releases. If a sales rep is sensitive to the urgencies of companies it can seriously help the sales process. If a company has announced they are expanding their inside sales team or have a new vice president of sales, this could be a cue to contact them.
M = Money. Know where the money is. If a company is growing, recently announced a round of funding, or are older, more established companies then they have the funds.
In an ABM (Account-Based Marketing) world, Sales has to be willing to have a discussion with someone, no matter where they are in the buying journey. The most important factors: is it the right company, and the right person?
Looser qualified lead definitions prevail - BANT is on life support
Sales must now early in the buying cycle or before a buying cycle even begins (no BANT)
ANUM is new! [see TOPO]
Example: Netsuite, SDRs pass a lead as soon as they convince the right person in a target account to agree to a meeting
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
Something about Ideal Company Profile
Account-Based Sales Development: Rather than rely on the high-volume process of outbound prospecting, organizations now strategically define a smaller, more targeted set of accounts and run personalized, buyer-centric campaigns against those accounts.
Research: Don’t skip this step.
Targeting outreach campaigns by account enables Cloudera SDRs to research individual accounts and buyers and speak to their exact pain points.
As a result, these campaigns produce a 60% open rate, 31% response rate, and massive increases in both net-new opportunities and add-on business from current customers.”
TOPO: Cloudera Case Report, September, 2015
Sales Development – or Prospecting – is the heart of every ABM program.
It combines email, phone calls and the personalized end of social media interactions into a coordinated series of engagements that develop and deepen relationships.
use all the account insight you’ve generated to prove to the prospect that you understand their challenges and have a unique approach to solving them
Any one person can be sick, ignore, PTO, promote, transfer, fire
Do you have major accounts that hinge on one or two personal relationships in the purchasing enterprise? If your answer is “yes,” then it’s important for you to realize that this represents enormous risk to your organization -- risk you need to act on now to minimize… those one or two key contacts can very easily be promoted, transferred or fired, and suddenly you may find that the relationship between your businesses is actually quite shallow.
MQA good b/c multithread in account – any one person can ignore you or be on PTO or get sick or leave, but touching multiple people in account gives higher chances
Even individuals who possess significant authority still have to build consensus within their company to get approval to move ahead with a purchase.
A member of the sales team at New Relic, a SaaS vendor of performance management software and analytics, was close to closing a deal with the CTO at a Fortune 15 consumer products company. But then the deal hit a snag. “My sales rep emailed me that the CTO was going to be out until the end of the quarter,” said John Gilman, VP of Worldwide Commercial Sales for the vendor. “That meant that the deal was not going to happen in that quarter, and the sales rep was going to miss his numbers. If we had a few other relationships at the company, someone else may have been able to step in and move the ball forward.” Gilman pointed out that a multi-threading approach is helpful to avoid similar situations. “For deals over a certain threshold, it is unacceptable to come to the table with one person at the target company,” Gilman said. “You need to know who their manager is, who can say yes, and who can say no. Also, you need to know who can help make the deal bigger.” An examination of successful deals shows that the approach works, according to Gilman. “Most of our successful deals have taken a multi-threading approach that relied on multiple relationships with influencers in an organization.”