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Account Based Marketing 101: How to Get Started & Succeed | Engagio

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ABM is hot, but there's a lot of noise right now. How do you break through to really understand what ABM is all about, and get started?

Join Jon Miller, CEO of Engagio (previous co-Founder of Marketo), in this presentation to understand:

–What works (and doesn't) in ABM
–The new metrics to use in an ABM strategy
–The first things you need to do to get started

You'll walk away with the information you need to support your game plan to launch your Account Based Marketing successfully.

View the webinar replay here: http://resources.engagio.com/account-based-marketing/abm-101-replay

Download Engagio's Clear and Complete Guide to Account Based Marketing at Engagio.com/guide

Learn more about Engagio at Engagio.com
Twitter.com/Engagio
Linkedin.com/Company/Engagio
Facebook.com/Engagio

Published in: Marketing
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Account Based Marketing 101: How to Get Started & Succeed | Engagio

  1. 1. @jonmiller Account Based Marketing 101 How to Get Started & Succeed
  2. 2. @jonmiller Nets Spears
  3. 3. Account-Based Marketing: A strategic approach that coordinates personalized marketing and sales efforts to land and expand high-value accounts. – @jonmiller
  4. 4. @jonmiller Why Now •Reaching high into larger accounts drives better dealsEconomics •Declining returns from inbound / volume channelsSaturation •Technology is now available to deliver ABM at scaleScalability “ABM delivers the highest ROI of any B2B marketing strategy or tactic.” (ITSMA)
  5. 5. @jonmiller ABM is Hot Google Trends for “Account Based Marketing” Engagio founded Google Trends for “Account Based” 2.0x 4.8x
  6. 6. @jonmiller Measure Engagement Create Engagement Establish Foundation 1 2 3 OK, so how do I actually DO ABM?
  7. 7. Copyright ©2017, Engagio Inc. Establish Foundation
  8. 8. @jonmiller Building Your ABM Foundation 8 Entitlements • Styles and Tiers Organize Data • Unify Account Data • Lead to Account Matching Select Accounts • Fit • Engagement
  9. 9. @jonmiller 5-50 accounts (“tens”) Engagio: up to 2 per AE $250K – $1B+ 5-50 accounts (“tens”) Engagio: 5 per AE $100K – 250K 50-1,000 accounts (“hundreds”) Engagio: 93 per AE $50K – $100K Style 1a Lighthouse 1,000+ accounts (“thousands”) Engagio: About 2,000 $25K - $50K Style 1b Strategic Style 3 Programmatic Style 2 Scale
  10. 10. @jonmiller Style 3 Accounts (~2000) 10 Ongoing Programs • Demand Gen • Inbound Ad Hoc Direct Mail ¢ Limited Account Ads Some Data Example
  11. 11. @jonmiller Style 2 Entitlements (370 accounts) 11 More DataDirect Mail $ Ongoing Programs Experiences $ Targeted Ads Example
  12. 12. @jonmiller Style 1b Entitlements (~20 accounts) 12 Lite Account Plan More Data Direct Mail $$ Personalized Communications (PlayMaker) Ongoing Programs Targeted Ads Experiences $$ Example
  13. 13. @jonmiller Style 1a Entitlements (approx 10 accounts) 13 Personalized Content Hub + Customized Guides Full Account Plan + QBR More Data More Often Direct Mail $$$ Personalized Communications (PlayMaker) Executive Workshop Ongoing Programs Named Executive Personalized Ads Experiences $$$ Example
  14. 14. @jonmiller Challenge: Account Data Spread Across Systems • Challenging measurement • Bad routing • Poor coordination • Limited marketing & sales alignment 15 Marketing Automatio n Corporate Email Web Visits
  15. 15. @jonmiller Answer: Start with an Account Foundation Lead to Account Matching (L2A) Algorithm Presentation Marketing Automation Corporate Email Web Visits Engagement Minutes Model
  16. 16. @jonmiller 17 Lead to Account Matching
  17. 17. @jonmiller Account Foundation Enables Engagement 18 Engagement Minutes
  18. 18. @jonmiller Level 1: Reps Self-Select Level 2: Basic Data Level 3: Advanced Data Level 4: Predictive Analytics Target Account Selection: Marketing Driven, Sales Owned
  19. 19. @jonmiller 20Note: List turnover limited to 25% per quarter Target Account Selection: Marketing Driven, Sales Owned Reps choose ~100 total from scored list of 300-350 in their territory Data quality matters!Technographics Score = Fit + Engagement
  20. 20. @jonmiller Build Out Key Contacts 21
  21. 21. @jonmiller Create Engagement
  22. 22. @jonmiller 23 Most Effective Tactics for ABM 34 36 38 40 0 10 20 30 40 50 60 Executive engagement Innovation days Custom thought leadership One-on-one meetings Strategic 21 23 47 49 0 10 20 30 40 50 60 Custom collateral Executive engagement E-mail marketing One-on-one meetings Scale 23 30 30 60 0 10 20 30 40 50 60 Direct mail Account advertising One-on-one meetings E-mail marketing Programattic One-on-one meetings and email dominate Source: ITSMA, Account Based Marketing Benchmarking Survey, March 2016 What specific tactics are most effective for ABM? Choose up to three.
  23. 23. @jonmiller Not Engaging
  24. 24. @jonmiller 25 Not Engaging
  25. 25. @jonmiller Opt out, tune out, toss out
  26. 26. @jonmiller Three most important factors in enterprise decision: • Knowledge and understanding of my industry • Knowledge & understanding of my unique business issues • Fresh ideas to advance my business ITSMA “75% of executives will read unsolicited marketing materials that contain ideas that might be relevant to their business.”75% 25% Yes No
  27. 27. @jonmiller ABM Plays Require a Different Process 29 Marketing is a player that passes a MQL to Sales and then involvement is limited. Marketing is the coach. Customer facing teams work together in a coordinated and ongoing way for success in an account. Old: The Hand-Off New: Marketing Orchestration
  28. 28. @jonmiller Example: Engagio Integrated ABM Play (Scale) • Pre: Ads for Awareness (50% A/B test) • Day 0: Package sent + Email • Day 2: Package delivered + Custom Email • Day 4: Phone call • Day 6: Phone call • Day 7: Phone call + LVM + Email • Day 10: Email from Jon cc’ing play • Day 11: LinkedIn InMail from Jon • Day 13: Email • Day 15+ FU’s to other personas Goal: get an introductory 1:1 meeting with target account
  29. 29. @jonmiller From me Personalized by an SDR Leveraging account and person insights
  30. 30. @jonmiller 32
  31. 31. @jonmiller Integrated ABM: Results to Date 350 276 74 34 1Mtgs Opps Deal(so far) AwarePkgs 21% Meeting Rates Books only: 34% Ads and Kindle: 21% Ads and Books: 20% Kindle only: 18% Not significant Web Traffic Visitors Ads +43% +47% No Ads +22% +8% Directionally meaningful but not significant 25.0x pipeline to spend
  32. 32. @jonmiller Personalized Plays vs Automated Campaigns 34 Event Executive Breakfast Manager Lunch Invites Personalized via Playmaker 96 Plays Launched Broad Marketing Automation 652 Emails Sent X 2 From Step 1 from Account Owner Step 2 from Executive (reply) Step 3 from AO to Executive Assistant Blast 1 = From events@engagio.com Blast 2 = From sandra@engagio.com Response 10 Replied Yes, I’ll Attend 33 Replied No (starts conversation)! Response Rate: 43% 21 Registered No declines - just crickets! Response Rate: 3% Attends 9 CMOs and VPs 12 Managers and Directors
  33. 33. @jonmiller MQA Aware NoEngagement Opp Customer Renewal ABM is for All Stages of the Funnel Integrated ABM Deal Nurturing Expansion & Success
  34. 34. @jonmiller Deal Nurturing Engagio Deal Nurture Tracks • Need access to decision maker • Need to make a key hire • No budget • “Not a priority” / early • ”Gone dark”
  35. 35. @jonmiller Customer / Expansion Plays • User Onboarding • 90 Days From Renewal • Declined Use • Net Promoter Follow-up • New Executive • Executive Alignment
  36. 36. @jonmiller engagio.com/orchestration
  37. 37. @jonmiller Measure Engagement
  38. 38. ABM Pro Tip: Don’t run into the metrics buzzsaw. @jonmiller
  39. 39. @jonmiller Don’t count the people you reach; reach the people that count. – David Ogilvy
  40. 40. @jonmiller Account Based Metrics are Different • They track accounts not leads (MQAs not MQLs) • They focus on quality not quantity • Revenue can take a long time so need results along the way 42
  41. 41. Time is Money
  42. 42. @jonmiller Engagement: Target Accounts = 10X Increase 44 1,600 minutes 17,000+ minutes 989 Target Accounts, June 2016 to May 2017
  43. 43. @jonmiller Account Journey Tracking • Define the Account Funnel • Track movement • Measure the key metrics • Flow • Balance • Conversion • Velocity A quantifiable ways of showing results through a potentially long sales process
  44. 44. @jonmiller Marketing Qualified Accounts (MQAs) • Depth and breadth of engagement 46
  45. 45. @jonmiller • First Touch • Last Touch • Equal Weight • Position Based • Time DecayUse the entire Account: Leads and Contacts Include ALL activities, not just Marketing Campaigns Account Based Attribution
  46. 46. @jonmiller What to measure 48 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? Is that engagement going up over time? Are marketing programs reaching target accounts? Are ABM activities improving key sales outcomes? COVERAGE AWARENESS ENGAGEMENT REACH IMPACT
  47. 47. @jonmiller Type Metric Description Accounts Engagement Am I creating and deepening relationships with my target accounts? Journeys Outcomes How do accounts move through their buying journeys towards the outcomes (pipeline, revenue) we care about? Programs ROI What is the marketing return on investment on my programs (multi-touch attribution)? ABM Metrics Summary
  48. 48. @jonmiller Final Thoughts
  49. 49. @jonmiller ABM Maturity CATEGORY CURRENT ABM MATURITY WHAT TO DO NEXT Beginner You may not even have defined target accounts yet. • Start with the basic account foundation — L2A matching and engagement scoring • Pick accounts (can start small) • Run a starter play: SDR + marketing air cover • Set a baseline for measurement Intermediate With your accounts in place, you’re ready to run and measure integrated plays. • Implement additional styles of ABM • Evolve all your metrics to be account-based • Measure – optimize – refine Advanced You run more sophisticated plays — customized with deeper account insights. • Use ABM for all phases of the customer journey • Compare program ROI via multiple attribution models Pilots are great ways to show short-term successes and get the entire company to buy into ABM’s benefits.
  50. 50. @jonmiller Planning for ABM versus Demand Gen Most ABM programs start by layering on top of current demand gen processes: • Pilot: test ABM for a few accounts • Segment: Implement ABM for one or more segments (e.g. Enterprise accounts or Healthcare vertical) • Focus: Target existing programs (e.g. outbound sales development) on specific accounts • Transfer: Move budget from poorly performing programs to fund ABM 52
  51. 51. @jonmiller 2018: Create your Plan 53 $$$ Revenue Goals Pipeline Required (sources can vary marketing, sales, partner) How can we bring in the BEST quality pipeline most efficiently? ENT Segment – Need Z% POR GOAL Mid-Market Segment – Need Y% POR GOAL Small-Business Segment – Need X% POR GOAL Example: inbound marketing model Example: Programmatic ABM Example: ABM What is our optimal strategy to get there (mix of DG /ABM- programs, tactics) This breakdown should be the optimal mix to most effectively hit revenue targets
  52. 52. @jonmiller Checklist for Building Alignment  DO know why you’re doing ABM  DO position it as a strategic initiative  DON’T describe ABM as ‘the next big marketing campaign’.  DO sell it to Sales  DON’T tell Sales which accounts to go after. (They don’t want to be told who to sell to)  DO agree on resources committed to each style of ABM accounts  DON’T expect results overnight; big wins in ABM can take a while  DO over-communicate to let everyone know what’s happening 54
  53. 53. @jonmiller People 55 ABM Task Existing Staff Determine ideal customer profile Product Marketing Build account data foundation Marketing Operations Research accounts Sales Development Design and execute orchestrated plays Revenue Marketing / Field Marketing Coordinate with Sales Field Marketing Measure results Marketing Operations
  54. 54. @jonmiller Evolving the team over time 56 Pilot –% of team for discreet time Goal – Showcase early wins, prove hypothesis Dedicated % of team for ongoing time Goal – Scaling success for key segments Dedicated people or ABM demand center Goal – Larger roll outs (global) Time Results example
  55. 55. @jonmiller engagio.com/Guide Get your free copy today! The Clear and Complete Guide to Account Based Marketing
  56. 56. @jonmiller • Start your ABM journey by building a strong foundation of unified account data • Create engagement with relevant, human interactions over email and in-person • Implement deal nurturing to accelerate stuck opportunities – but don’t blindly automate • ABM measurement is about quality, not quantity; use engagement as a leading indicator to revenue • Account based attribution lets you connect the dots between account engagement and revenue • Pilots are a great way to get started and build alignment Tweetable Takeaways @jonmiller

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