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eMarketer Webinar: Account-Based Marketing—Beyond the Hype

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Account-based marketing has been around for more than a decade, but advances in marketing technology and data collection have turned it into a hot trend among business-to-business (B2B) marketers. Key topics include: What account-based marketing involves; What’s different about account-based marketing now that marketers have a tech stack at their disposal; How marketers are using data to inform their account-based efforts; How account-based marketing helps marketers and sales team work toward aligned goals and tactics.

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eMarketer Webinar: Account-Based Marketing—Beyond the Hype

  1. 1. © 2016 eMarketer Inc. Presented by Account-Based Marketing: Beyond the Hype Jillian Ryan Analyst November 17, 2016
  2. 2. © 2016 eMarketer Inc. Account-Based Marketing, Defined
  3. 3. © 2016 eMarketer Inc. What exactly is ABM?  Strategic, collaborative approach between marketing and sales to identify, target and convert accounts  Target companies are prioritized by lifetime value  Focuses on key decision-makers within those accounts  Customized content is required and created through deep background research  Emphasizes quality over quantity  Difficult to scale without the right technology #eMwebinar
  4. 4. © 2016 eMarketer Inc. ABM objectives are varied What are your goals for account-based marketing? Revenue Generation: 25% Pipeline Acceleration: 22% Lead Generation: 20% Sales and Marketing Alignment: 17% Source: #FlipMyFunnel, April 2016 #eMwebinar
  5. 5. © 2016 eMarketer Inc. There are many different types of ABM Strategic ABM ABM Lite Programmatic ABM 1:1 Accounts 1:Few Accounts 1:Many Accounts Low H igh Investm ent and R O IperA ccount Source: ITSMA #eMwebinar
  6. 6. © 2016 eMarketer Inc. ABM responsibilities span across the organization, but all focus on building knowledge around accounts and executing a content and engagement plan to speak to contacts within the account #eMwebinar
  7. 7. © 2016 eMarketer Inc. Not just for prospecting, ABM is for cross-sell and upsell too “At Lionbridge, we are focused on cross selling and upselling existing accounts. I know a lot of other companies in this space use ABM as a prospecting activity, but for us it’s completely a customer-driven initiative. We pick really large strategic accounts and customize every campaigns and communications.” —Jessica Sousa, Senior Manager, Customer Marketing, Lionbridge “At Lionbridge, we are focused on cross selling and upselling existing accounts. I know a lot of other companies in this space use ABM as a prospecting activity, but for us it’s completely a customer-driven initiative. We pick really large strategic accounts and customize every campaigns and communications.” —Jessica Sousa, Senior Manager, Customer Marketing, Lionbridge #eMwebinar
  8. 8. © 2016 eMarketer Inc. How Hot Is ABM, Really?
  9. 9. © 2016 eMarketer Inc. ABM adoption hasn’t reached a tipping point 47% of US B2B marketers have an ABM strategy in place Source: Demand Gen Report, August 2016 33% of US B2B marketers are investing in ABM in 2016 Source: Kapost, May 2016 #eMwebinar
  10. 10. © 2016 eMarketer Inc. But ABM is still pretty new …  Nearly 60% of US B2B marketers have had their ABM strategy in place for a year or less  Only 25% have been doing ABM for two or more years #eMwebinar
  11. 11. © 2016 eMarketer Inc. About a third of US B2B marketers aren’t currently doing ABM but plan to launch a strategy in the next 18 months #eMwebinar
  12. 12. © 2016 eMarketer Inc. ABM only gets a small percentage of marketing budgets What percentage of your marketing is ABM? 25% of budget: 35.4% 50% of budget: 18.2% 75% of budget: 9.5% All of our marketing is ABM: 4.4% Source: Bizible, Heinz Marketing, Radius, ReachForce and Uberflip, October 2016 #eMwebinar
  13. 13. © 2016 eMarketer Inc. Still, some are going all-in on ABM “Our marketing team is dialing up its account-based marketing. It is our top priority. We’re pivoting the entire marketing function to be aligned to the top 50 accounts we’re prospecting.” —John Anagnost, Senior Director, Sales Strategy and Enablement, Rocket Fuel “Our marketing team is dialing up its account-based marketing. It is our top priority. We’re pivoting the entire marketing function to be aligned to the top 50 accounts we’re prospecting.” —John Anagnost, Senior Director, Sales Strategy and Enablement, Rocket Fuel #eMwebinar
  14. 14. © 2016 eMarketer Inc. ABM has always been here, it’s just called something new “It’s funny that ABM is a buzzword all of sudden, but we have been doing this for years. You just didn’t call it account-based marketing. For whatever reason, marketers have rebranded it as this new thing.” —Jessica Sousa, Senior Manager, Customer Marketing, Lionbridge “It’s funny that ABM is a buzzword all of sudden, but we have been doing this for years. You just didn’t call it account-based marketing. For whatever reason, marketers have rebranded it as this new thing.” —Jessica Sousa, Senior Manager, Customer Marketing, Lionbridge #eMwebinar
  15. 15. © 2016 eMarketer Inc. Marketing Automation and Technology: The Building Blocks of ABM at Scale
  16. 16. © 2016 eMarketer Inc. Marketing automation, defined: Software platforms and technologies used to automate numerous steps along the path to conversion, including campaign management, customer segmentation, and lead generation, nurturing and scoring to efficiently market via diverse channels. Source: eMarketer, April 2016 #eMwebinar
  17. 17. © 2016 eMarketer Inc. B2B marketers embrace automation 36% 38% call their marketing automation usage advanced 30% say it’s intermediate call their CRM/sales automation usage advanced 33% say it’s intermediate Source: Progress and Dimensional Research, September 2016 #eMwebinar
  18. 18. © 2016 eMarketer Inc. 80% 74% of B2B marketers use sales force automation for ABM use marketing automation Source: SiriusDecisions, April 2016 Automation is needed for ABM at scale #eMwebinar
  19. 19. © 2016 eMarketer Inc. ABM is considered an “effective” use of marketing technology and data 31% of US B2B marketers said ABM is the most effective use of marketing data Source: Openprise, June 2016 31% of marketers worldwide said ABM is a martech tactic their company uses effectively Source: Ascend2, October 2016 #eMwebinar
  20. 20. © 2016 eMarketer Inc. Continued scale will take more than technology developments  While 69% of B2B marketers said adding tech to automate ABM will help scale, 77% believed that developing tools and templates to facilitate reuse and best practicing sharing is also critical #eMwebinar
  21. 21. © 2016 eMarketer Inc. Tech is a barrier to ABM, but not the biggest one Reasons B2B marketers do not use ABM Other initiatives have higher priority: 45% Don’t have necessary skills/expertise: 36% Cost/budget constraints: 34% Don’t have necessary technology: 23% Source: Account-Based Marketing Consortium and Demand Metric, December 2016 #eMwebinar
  22. 22. © 2016 eMarketer Inc. Some experts say ABM can’t be automated  How can you automate something that requires a personal engagement to understand the relationship and plan communications? #eMwebinar
  23. 23. © 2016 eMarketer Inc. Working with Sales and Data Sources for Account Identification
  24. 24. © 2016 eMarketer Inc. ABM should enable marketing to work more closely with sales  83% said sales helped determine the list of target accounts in 2016, up from 75% YOY  Fewer respondents reported sales providing feedback on ABM plans and using marketing support to do their own account outreach in 2016 #eMwebinar
  25. 25. © 2016 eMarketer Inc. Account-based lead scoring is becoming commonplace  More than four in 10 US B2B enterprise marketers score leads with account-based criteria, such as: – revenues – employee count – industry #eMwebinar
  26. 26. © 2016 eMarketer Inc. Account-based indicators are used to determine best customers  There are many account-based indicators used by US B2B marketing/sales professionals to define their best customers  The two most common are: – annual spend (61%) – length of relationship (52%) #eMwebinar
  27. 27. © 2016 eMarketer Inc. Account scoring is based on attributes of current best accounts “We work with sales to understand the attributes of accounts that are converting the best. That’s a mix of firmographics and demographics, and we do account scoring based on 20 different attributes—things like company size, industry, revenue, employees and what other technologies they currently use.” —Tyler Lessard, CMO, Vidyard “We work with sales to understand the attributes of accounts that are converting the best. That’s a mix of firmographics and demographics, and we do account scoring based on 20 different attributes—things like company size, industry, revenue, employees and what other technologies they currently use.” —Tyler Lessard, CMO, Vidyard #eMwebinar
  28. 28. © 2016 eMarketer Inc. B2Bs use multiple data sources to learn about accounts  In 2015, noncustom third-party account and contact information sources were the primary ways B2B marketers worldwide got data for ABM  Predictive analytics was used by only 21% #eMwebinar
  29. 29. © 2016 eMarketer Inc. And in 2016, B2Bs are working toward more sophisticated approaches to data for ABM 44%of B2B marketers worldwide are using custom third-party account info sources Source: SiriusDecisions, April 2016 30% are using predictive analytics services for ABM #eMwebinar
  30. 30. © 2016 eMarketer Inc. Predictive analytics helps assess and prioritize accounts “With a predictive score, we know which accounts and which decision-makers within that account to target. Then we execute our marketing against those accounts to drive pipeline.” —Rishi Dave, CMO, Dun & Bradstreet “With a predictive score, we know which accounts and which decision-makers within that account to target. Then we execute our marketing against those accounts to drive pipeline.” —Rishi Dave, CMO, Dun & Bradstreet #eMwebinar
  31. 31. © 2016 eMarketer Inc. Still, having the right data remains a challenge for many companies  Only 31% of B2B sales professionals have access to the right data for ABM; 24% of marketers said the same  The majority of marketers and sellers said they are building toward having access to the right data #eMwebinar
  32. 32. © 2016 eMarketer Inc. Personalized Communication with Accounts (and Decision-Makers)
  33. 33. © 2016 eMarketer Inc. Content delivered within ABM is targeted and personalized  Targeted content is tailored by specific industry (75%) and role (51%)  49% delivered ABM content that is personalized/custom to each account #eMwebinar
  34. 34. © 2016 eMarketer Inc. Constructing messages based on relevance “ABM is a different lens for targeting accounts and building a holistic content strategy, as opposed to just one-off tactics. We do direct communications, personalized messaging and even create a custom video for each account.” —Tyler Lessard, CMO, Vidyard “ABM is a different lens for targeting accounts and building a holistic content strategy, as opposed to just one-off tactics. We do direct communications, personalized messaging and even create a custom video for each account.” —Tyler Lessard, CMO, Vidyard #eMwebinar
  35. 35. © 2016 eMarketer Inc. Customers appreciate more tailored messages, and in turn can be better internal advocates “A lot of times B2B marketers are too generic. And the receiver of that content doesn’t feel like it fits them or it doesn’t help them make the leap to action. But very tailored assets within ABM makes the intended recipient more comfortable because it’s very customized. This enables that person to further influence within their own organization because it’s easier to push that information forward.” —Danny Nail, Senior Director, Global Account Based Marketing, SAP “A lot of times B2B marketers are too generic. And the receiver of that content doesn’t feel like it fits them or it doesn’t help them make the leap to action. But very tailored assets within ABM makes the intended recipient more comfortable because it’s very customized. This enables that person to further influence within their own organization because it’s easier to push that information forward.” —Danny Nail, Senior Director, Global Account Based Marketing, SAP #eMwebinar
  36. 36. © 2016 eMarketer Inc. Third-party content support on the rise for ABM 37% 28% plan to use an agency for ABM support on content and messaging in 2016 23% did so in 2015 plan to use third-party content development in 2016 3% did so in 2015 Source: SiriusDecisions, April 2016
  37. 37. © 2016 eMarketer Inc. Targeted offers are most commonly delivered to an ABM list via email  96% currently use email to deliver targeted offers to their ABM list  Other delivery methods: – account-based nurture – teleprospecting – automated sales enablement platform – personalized website content #eMwebinar
  38. 38. © 2016 eMarketer Inc. Reverse IP lookup helps with web and content personalization Reverse IP technology, which can detect the company (account) a website visitor works for, is a common ABM tool WebWeb PersonalizationPersonalization 52%52% Source: SiriusDecisions, April 2016 #eMwebinar
  39. 39. © 2016 eMarketer Inc. Account-based advertising is also on the rise B2B marketers using account-based advertising: Planning to invest: 70.0% 2016: 66.4% 2015: 62.7% Source: SiriusDecision, April 2016 #eMwebinar
  40. 40. © 2016 eMarketer Inc. What About Return on Investment?
  41. 41. © 2016 eMarketer Inc. ABM is a mixed bag when it comes to effectiveness  On a scale of 1 to 5, nearly 40% of US B2B marketers—the largest share—rated their ABM efforts’ effectiveness a 3  Only 5.7% called their efforts “extremely effective” #eMwebinar
  42. 42. © 2016 eMarketer Inc. ABM is considered an important strategy for generating revenue  Seven in 10 B2B marketers in North America said ABM was one of the most important strategies for generating revenue compared to other options  Only 10% said it was the most important #eMwebinar
  43. 43. © 2016 eMarketer Inc. But how does ABM translate to real revenue?  Half said their change in revenue due to ABM was “favorable, but not measured”  Only 7% said they saw revenues increase at least 25%  Another 22% didn’t know if revenues changed due to ABM #eMwebinar
  44. 44. © 2016 eMarketer Inc. ABM metrics are still subjective  In 2016, the most common metric used to measure ABM success is feedback from internal stakeholders, used by 76%  The number of closed deals, number of leads touched by marketing, and new contacts identified for ABM accounts were KPIs used by six in 10 #eMwebinar
  45. 45. © 2016 eMarketer Inc. B2Bs can benchmark ABM conversion rates vs. traditional efforts for measurement “We look at conversion rates on accounts targeted with ABM practices as opposed to more traditional marketing. And we look at speed and starting to see good patterns in velocity of those deals moving forward.” —Tyler Lessard, CMO, Vidyard “We look at conversion rates on accounts targeted with ABM practices as opposed to more traditional marketing. And we look at speed and starting to see good patterns in velocity of those deals moving forward.” —Tyler Lessard, CMO, Vidyard #eMwebinar
  46. 46. © 2016 eMarketer Inc. Companies with larger contract values have most success with ABM “ABM really makes sense for the companies that have larger contract values that are focusing on a few thousand companies.” —Phil Hollrah, Vice President, Product Marketing, Demandbase “ABM really makes sense for the companies that have larger contract values that are focusing on a few thousand companies.” —Phil Hollrah, Vice President, Product Marketing, Demandbase #eMwebinar
  47. 47. © 2016 eMarketer Inc. Beyond the hype, recapped:  ABM, the practice of identifying, targeting and marketing to accounts, is hot, but adoption is still pretty limited.  Marketing automation, technology and data are critical components needed in place for B2Bs doing ABM at scale.  A strategic collaboration with sales teams allows for marketers to determine the best target accounts.  Delivering customized content to decision-makers within target accounts means messages are based on research and relevance.  Measuring return on ABM is still a work in progress, but many call the results favorable. #eMwebinar
  48. 48. Anastasia Pavlova, Sr. Director of Marketing, Marketo, @digijinni
  49. 49. Marketo Solves the ABM Dilemma Multiple Point SolutionsMarketo: ABM Essentials, Single Platform vs. Error-prone account list syncing Central account targeting & management Different apps for each ABM channel Cross-channel campaign orchestration Data stitched together across systems Consolidated ABM analytics
  50. 50. MARKETO ENGAGEMENT MARKETING PLATFORM INBOUND ACCOUNT BASED PAIDMEDIA DIRECT TARGET ENGAGE MEASURE INBOUND ACCOUNT BASED PAIDMEDIA DIRECT A Single, Unified Platform for Lead Management + ABM
  51. 51. 1. All of the essential ABM capabilities 2. A single, unified platform for ABM & Lead Management 3. Supported by an ecosystem of ABM partners Result: Shorter learning curve, faster time to value and stronger marketing Why Marketo ABM?
  52. 52. Anastasia Pavlova @digijinni @marketo #MKTGNation
  53. 53. © 2016 eMarketer Inc. Learn more about digital marketing with an eMarketer corporate subscription Around 200 eMarketer reports are published each year. Here are some recent reports you may be interested in: Q&A Session Sponsored by: You will receive an email tomorrow with a link to view the deck and webinar recording. To learn more: www.emarketer.com/products 800-405-0844 or webinars@emarketer.com Jillian Ryan Analyst Account-Based Marketing: Beyond the Hype  At B2Bs, Account-Based Marketing Trends Upward as Technology Plays Bigger Role  B2B Sales Enablement: Driving Strategic Efficiencies Along the Path to Purchase  Predictive Analytics in B2B Marketing: Using Data Decisively, at Every Stage of the Funnel  Marketing Technology: The Six Developments That Matter the Most in 2016

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