Account Based Marketing: Focus on Who Matters

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Account based marketing is a B2B marketing practice that focuses investment of resources on those accounts most likely to result in revenue. This presentation explains this strategy and how Demandbase applied it to its own marketing efforts.

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Account Based Marketing: Focus on Who Matters

  1. 1. Account Based Marketing
  2. 2. Agenda  Named Account Marketing – Defined – Why? – Foundation  List Definition Process  Demandbase Example  List Building Process  Next StepsConfidential | © Demandbase 2012 All rights reserved. © Demandbase 2012 All rights reserved. Slide 2
  3. 3. Named Account Marketing: Defined  A B2B Marketing practice which focuses investment of resources on those accounts most likely to result in revenue.Confidential | © Demandbase 2012 All rights reserved. © Demandbase 2012 All rights reserved. Slide 3
  4. 4. Named Account Marketing: Why?  B2B Marketing has evolved – Better data – Better tools – Experience – Example – Insight  Low conversion rates are our past, not our futureConfidential | © Demandbase 2012 All rights reserved. © Demandbase 2012 All rights reserved. Slide 4
  5. 5. Named Account Marketing: What’s In It For Me?  Natural alignment between Sales & Marketing  Delivery of the right message, at the right time, to the right accounts  Improved conversion rates  Increased revenueConfidential | © Demandbase 2012 All rights reserved. © Demandbase 2012 All rights reserved. Slide 5
  6. 6. Named Account Marketing: Foundation  Sales & Marketing should develop a common definition of accounts most likely to yield revenueConfidential | © Demandbase 2012 All rights reserved. © Demandbase 2012 All rights reserved. Slide 6
  7. 7. Named Account Marketing: Driving Assumption  Your future customers look exactly like your most valued current customersConfidential | © Demandbase 2012 All rights reserved. © Demandbase 2012 All rights reserved. Slide 7
  8. 8. Named Account Marketing: List Definition Process (1 of 4)  Gather your constituents  State your assumptions about who you think your best customers are (use attributes to describe them)  Build additional possible attributes to be investigated  Combine your attribute lists: * Revenue * Geography * Industries * Employees * Sophistication * B2B v. B2C * Technology * Web Volume * Marketing Spend * IT Spend  Test your lists– would you use these lists to indicate qualified MQL’s?Confidential | © Demandbase 2012 All rights reserved. © Demandbase 2012 All rights reserved. Slide 8
  9. 9. Named Account Marketing: List Definition Process (2 of 4)  Agree on sources of truth for each attribute – CRITICAL Importance  Research, research, and research again  Abandon all previous assumptions (open minds will find the truth & your biases will limit your results)  Build a list of your most valued customers  Collect data for each value on your attributes list  Be Open to the possibility that there may be additional attributes that surface in the research!Confidential | © Demandbase 2012 All rights reserved. © Demandbase 2012 All rights reserved. Slide 9
  10. 10. Named Account Marketing: List Definition Process (3 of 4)  Look for unexpected patterns  Determine which attributes will allow you to include the most existing customers- test each one  List the customers you would have excluded for each attribute and the % of total included  Create a Recommended Target ProfileConfidential | © Demandbase 2012 All rights reserved. © Demandbase 2012 All rights reserved. Slide 10
  11. 11. Named Account Marketing: List Definition Process (4 of 4)  Create a Recommended Target Profile  Present to constituents for discussion  Apply Art to your Science  Finalize attribute list  Redefine MQL to match these criteria  Build lists of accounts that share these attributes  Consider applying the same process to contacts using keywords and titles from first & last touch on customer accountsConfidential | © Demandbase 2012 All rights reserved. © Demandbase 2012 All rights reserved. Slide 11
  12. 12. Demandbase Example: Participants  Sales Leadership  Marketing Leadership  Executive LeadershipConfidential | © Demandbase 2012 All rights reserved. © Demandbase 2012 All rights reserved. Slide 12
  13. 13. Demandbase Example: Our Assumptions List  B2B  Revenue Band  Web Traffic  Industry (Inclusions and Exclusions)  Key Technology Use  GeographyConfidential | © Demandbase 2012 All rights reserved. © Demandbase 2012 All rights reserved. Slide 13
  14. 14. Demandbase Example: Distribution of Revenue Bands No Data 1. Under 2. $5 3. $10 4. $10 5. $25 6. $50 7. $100 8. $500 9. $1 10. $2.5 11. Over $5 Million Million to Million to Million to Million to Million to Million to Million to Billion to Billion to $5 Billion $10 $25 $25 $50 $100 $250 $1 Billion $2.5 $5 Billion Million Million Million Million Million Million Billion 83% have 10M+ in annual revenue 79% have $25M+ in annual revenue 64% have $100M+ in annual revenue Data not sufficient for use in profiling.Confidential | © Demandbase 2012 All rights reserved. © Demandbase 2012 All rights reserved. Slide 14
  15. 15. Demandbase Example: Distribution Web Traffic No obvious distribution of web traffic by volume.Confidential | © Demandbase 2012 All rights reserved. © Demandbase 2012 All rights reserved. Slide 15
  16. 16. Demandbase Example: Unique Monthly Web Traffic(+10K) 26% Above Below 74%83% of customers have more then 5K unique visits/month.Confidential | © Demandbase 2012 All rights reserved. © Demandbase 2012 All rights reserved. Slide 16
  17. 17. Demandbase Example: Customer Industries 1% 1% 2% 1% 2% 2% 3% Software & Technology Business Services 5% Telecommunications Unclassified 7% Manufacturing Transportation & Logistics Financial Services 12% Media & Entertainment 64% Electronics Retail & Distribution Printing & Publishing 76% of customers fall into two industries 83% in three industries.Confidential | © Demandbase 2012 All rights reserved. © Demandbase 2012 All rights reserved. Slide 17
  18. 18. Demandbase Example: Key Technology Use 3% 15% 1 2 45% 3 4 37% 97% of our customers have 2+ key technologies.Confidential | © Demandbase 2012 All rights reserved. © Demandbase 2012 All rights reserved. Slide 18
  19. 19. Demandbase Example: Winners By the Numbers  2+ Key Technologies (97%)  3 Key Industries (83%)  Web Traffic +5K/Mo (83%)  Revenue Bands $10M+ (83%)  List the customers who would be excluded if each attribute were used as a requirement  Could you have lived without them?Confidential | © Demandbase 2012 All rights reserved. © Demandbase 2012 All rights reserved. Slide 19
  20. 20. Demandbase Example: Recommended Prospect Profile  2+ Key Technologies (97%)  This is the only metric that would not have disqualified a significant portion of our existing customers  List customers you would have lost if you applied this profile to your current install base  Could you have lived without them?  But…. This is not the ultimate profile we applied… this is where the ART comes in…Confidential | © Demandbase 2012 All rights reserved. © Demandbase 2012 All rights reserved. Slide 20
  21. 21. Demandbase Example: The Art & Science  B2B + Geographies AND  Two+ Key Technologies OR  B2B + Geographies AND  Tier 1 Technologies OR  Tier 2 Technologies +Web Traffic ThresholdConfidential | © Demandbase 2012 All rights reserved. © Demandbase 2012 All rights reserved. Slide 21
  22. 22. List Building Process  Consult the agreed upon sources of truth for each attribute  Build separate lists  Concatenate the lists  Identify contacts for each account – Use same process to identify keywords and titles for first and last touches on customer accounts  Upload to CRM & MA  Market & sell  Small net fishing is preferred to pray and spray!Confidential | © Demandbase 2012 All rights reserved. © Demandbase 2012 All rights reserved. Slide 22
  23. 23. Results  Well-balanced sales regions  Clearly defined MQL criteria  Vastly improved conversions through the funnel  More revenue!  Better insight to future customers earlier in the buying cycle  Delivery of right message, to right account, at right time  Aligned Marketing & Sales focusConfidential | © Demandbase 2012 All rights reserved. © Demandbase 2012 All rights reserved. Slide 23
  24. 24. It is all in the journey  As in all things in B2B Marketing, we are never done, the target list is a living thing that grows and changes with your market  Question your assumptions and driving attributes on a regular basis  Create a process for review and revisionConfidential | © Demandbase 2012 All rights reserved. © Demandbase 2012 All rights reserved. Slide 24
  25. 25.  To request information on how Demandbase can enable your Named Account Marketing http://www.demandbase.com/landing-page/RTID-Demo-Request/ Confidential | © Demandbase 2012 All rights reserved. © Demandbase 2012 All rights reserved. Slide 25

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