Account Based Marketing is an Art
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The buzz around account-based marketing is palpable. With covid even more, B2B marketers are implementing new ABM programmes. A further study from Demandbase and Integrate found that 83% of B2B marketers polled said their organisations would be spending more on ABM than last year. Internal challenges Managing ‘older’ mindset sales expectations of ready to talk shop MQLs. Sales and Marketing Account Based alignment How to use Content Inflexible or diluted messaging Flexible templating on ABM content Enabling sales to deal with an ‘unstructured’ moment or opportunity Marketing qualified intelligence Targeting company by company External challenges Target audiences no longer have predictable daily routines for targeting. Noise in the digital event space, email and inmail space. ABM is a reflection of good relationship management practices that drive customer investment decisions. Future growth will come down to how well you can activate your customer base, both prospective and existing, to drive sales.
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Account Based Marketing is an Art
- 1. Account Based Marketing @LouiseRobertson Account based marketing (ABM) is a business marketing strategy that concentrates resources on a set of target accounts within a market.
- 2. Mindset Marketing: Blasted out generic, repetitive email communiques to every single contact at every single company that has ever appeared in your database. Sales: Got served up ‘marketing qualified leads ‘that is any one who engaged in the smallest way it batted over to sales to qualify and sell to.
- 3. The Change Inbound Marketing Account Based Marketing Broad - Reach Niche - reach Focus on Quantity of Leads Focus on Quality of Accounts and contacts within the accounts Sales sells to whoever marketing throws to them The whole business has a target departments are aligned for success Moderate to low ROI Moderate to high ROI Pushing people to content Creating content to engage, educate and attract Markets Accounts
- 4. Organisational Shift comes from the top Rethink ways of working Speed up and delegate decision making Step up execution excellence Cultivate extraordinary partnerships Reimagine structure Flatten the structure Unleash nimble, empowered teams Make hybrid work, work Reshape talent Field tomorrow’s leaders today Learn how to learn Rethink the role of CEOs and leaders
- 5. It’s an ‘art’ Account based marketing requires a mindset set on identifying: Highly relevant prospects, within relevant accounts in your total addressable market (TAM) Relevant content and highly targeted messaging. Account executives (AEs) eat, breathe, and sleep the details of the accounts they’re chasing
- 6. Sales and Marketing Account Based Alignment The textbook list Create a single customer journey. ... Agree on a customer persona. ... Use a “marketing first” approach. ... Track joint KPIs. ... Use customer feedback. ... Keep marketing messages consistent. ... Create marketing assets to close the sale. ... Join forces on post-sale growth and retention.
- 7. Competing Forces Sales Cycle Prospect Connect Research Present Close Delight Account Based Cycle Identify Target Accounts Present to Target Accounts Close Target Accounts Delight Accounts
- 8. Simple Blueprint Plan Create a target account list RESEARCH Communicate Daily Sprints Weekly planning COORDINATION Measure Measure using Account Based approach OPTIMISATION Orchestrate Create account plans TIMING
- 9. Bespoke Approach Source 2020 Gartner Customer Loyalty and Relationship Management Marketer Poll 69 Account Based Marketing variables Marketing Automation Planning Process Effectiveness Customer Understanding Content Management Efficiency Cross Functional Collaborations
- 11. Content Mapping Create a buyer persona to target your audience Create a catalogue of the content you have Map existing content to relevant phases of the customer journey Create targeted content for gaps in your content map Document the journey your customer takes on their way to doing business with you Understand what content works best in each phase of the customer journey
- 12. Content as a Service Website pages Social content Podcasts Video content Infographics Case studies Core content
- 13. Unstructured Moments of Opportunity Comedians and Improvisors Armed customer, company and marketing intel, craft scripts and snippets that are relevant to and customized for each individual buyer. Resist the one-size-fits all story telling approach Account executives (AEs) are in the audience with customers actively listening.
- 14. Company Intelligence to enable conversation Step away from qualification.
- 15. SPAM… Trash...
- 16. Targeting Company to Company Peer 2 Peer Introduction Pitch Tone Energy
- 17. Account Based Marketing is a Company Wide Activity. ABM is a reflection of good relationship management practices that drive customer investment decisions. Future growth will come down to how well you can activate your customer base, both prospective and existing, to drive sales.
Editor's Notes
- The buzz around account-based marketing is palpable. With covid even more B2B marketers are implementing new ABM programmes. A study from Demandbase and Integrate found that 83% of B2B marketers polled said their organisations will be spending more on ABM than it had last year.
- Imagine a world where you could start the sales process by selling directly to your best-fit, highest-value accounts. No wasted time working to market and sell to unqualified leads who aren’t the right fit for your business. Meaning, you could move straight into the phases of engaging and delighting your target accounts.
- Inbound High volume – price, offer and promotion led Account based marketing requires a mindset set on identifying: Highly relevant prospects, within relevant accounts in your total addressable market (TAM) Then using relevant content and highly targeted messaging.
- McKinsey Flatten the structure. A speedy organization has more people taking action and fewer people feeding the beast of bureaucracy—briefing each other, reporting, seeking approvals, sitting in unproductive meetings (and then huddling up in the meeting after the meeting to have the real conversation). Rigid hierarchies must give way to leaner, flatter structures that allow the system to respond quickly to emerging challenges and opportunities.
- With ABM, there is an always-on customer-centric approach, requiring constant optimization and attention, which scales well beyond lead generation or sale conversion. Any capability within an organization who is responsible for building relationships with business customers, is part of ABM. According to Boston Consulting Group, there are three key types of ABM: Strategic (tens of accounts) – creating and executing highly customized marketing plans for individual accounts through online and offline tactics; Scaled (hundreds of accounts) – creating and executing lightly customized programs for segmented accounts with similar issues and needs, mostly through online tactics; and Traditional (thousands of accounts) – using technology to tailor programmatic marketing campaigns to the remaining addressable market by refining targeting, analytics, and personalization within online tactics. Data is key as the canvas for ABM.
- You already know that spray-and-pray sales prospecting doesn't work. Many salespeople rely on boilerplate sales pitches and product demos. In conversations with prospects, there is a lack of personalization. They highlight the same features and value propositions. The result is cause for concern: 82% of sales professionals are not aligned with the needs of the buyer. Aston Business School. Here's the thing most salespeople don't realise: Account based selling isn't just a tactic you can plug into your sales process—it's an end-to-end strategy. Dave Keeling's 'Independent Thinking on Laughter: Using humour as a tool to engage and motivate all ...
- With account-based marketing, this cycle is streamlined — by focusing your efforts on specific high-value target accounts, you save time and resources, and spend more time on the stages of the cycle that positively impact your bottom line. A common thread was the handover from MQL to SQL - lead list dumping. Scant amount of detail. Handover from MQL to SQL must be associated with insight to have value for sales to follow up. The battle of the list, lead and activity.
- If you google account based marketing template you will get 400,000,000 results – and 100 million diagrams – over 100,00 articles on tools. In one central CRM ….. Data
- Gartner Google – 400,000,000 article within 30 seconds Take time no single businesses plan will be the same as another. They will al though have these five essential pieces Customer Planning – Process and Buy in Cross Functional collaboration Content Management Marketing Automation – Full buy into the CRM Floating Spreadsheets and no single customer view will cripple this approach.
- ALL Account-based strategy starts with your Ideal Customer Profile (ICP). Leveraging quantitative and qualitative data, the ICP defines the type of account that will deliver on key economics such as close rate, potential revenue, velocity, and retention. The ICP then becomes the basis for the critical step of building the target account list. Work with sales and customer success teams to understand the qualities your best customers share. Focus on sales prospecting over lead generation. Create one (or more) prospect personas and plan targeting strategies based on what types of messaging they respond to. Complete data sets in CRM
- Once you have created key persona Using a couple of real customer journeys – look at their touchpoints – ask them what they like and what would have made things easier. Conduct a thorough content audit, highlight any existing guides, white papers, videos. Your content audit will also help you identify holes that need to be filled to meet the needs of these high priority accounts and personas. You will end up creating multiple versions of a single piece of content to fill this requirement. Alternatively, you may need several completely different pieces of content. Just be sure you have a piece of content geared to each target group for every stage of the buyer’s journey. 50 word, 100 word, 500 word and e-book.
- Create valuable content that specifically addresses the pain points and business goals of your target accounts. Once you have your content audit and have identified the holes that need to be filled to meet the needs of these high priority accounts and personas. CREATE A CORE CONTENT PIECE This piece will be served up in multiple versions of a single piece of content to fill this requirement. Just be sure you have a piece of content geared to each target group for every stage of the buyer’s journey. Give all content ‘Context’ relevancy to now, to profit, to productivity – link it to the customer.
- Enabling sales to deal with an ‘unstructured’ moment or opportunity Creative sellers resist the temptation to adopt one-size-fits-all selling approaches. Take the time to listen to and learn from customers. Listening does not have to mean talking 1:1 most businesses have ambassadors who do panels, webinars, blogs and press articles. Read and learn. Do not qualify to try to understand their specific needs. Armed with this intel, they craft scripts that are relevant to and customized for each individual buyer. This personalized approach is highly effective. According to Infosys, 86% of people say personalization plays a role in their purchasing decisions. Stand up Comedy – in sales training Improv Techniques for Business: hooplaimpro Improvisers are: Brilliant listeners. Fantastic collaborators. Engaging storytellers. Great communicators. Confident people who thrive in uncertainty. Creative thinkers. And improv for business training can manifest these qualities and skills in your people. Improvisers work in teams which: Are defined by trust and support. Put a high value on emotional intelligence and active listening. Innovate constantly. Celebrate diversity and make full use of everybody’s ideas. Are open, honest and feedback rich. Improv techniques for business training can create a similar culture at your organisation. Dave Keeling's 'Independent Thinking on Laughter: Using humour as a tool to engage and motivate all ...
- To enable Conversations not qualification. With small focused target lists it makes sense to put together ‘Company Intelligence’ Map the C- Levels and Influencers in circles. Track their News Track their Trade Press Changes Product Releases Share and Conquer Keep in CRM
- Cutting through the noise to run successful hybrid events: Recognise that hybrid gatherings draw two different audiences.F2F delegates have plenty to do between sessions, from meetings to dining and entertainment. This is not the case for remote attendees, who cannot tolerate an eight-hour conference day. In-person event experience needs to be re-planned for the digital world; Keep each audience engaged, but employ technology to do so in other ways virtually.
- Brief, fast-paced sessions are best for remote attendees. Choose your best sessions, and keep them to 30 minutes maximum with Q & A.. Think about shrinking your conference day to four hours instead of eight. Making content concise—without omitting important information—boosts audience engagement and retention. Engage experts and Leaders for external events. Use Customer Reference Cases for small peer group meetings Incentivise Informalise.
- Any capability within an organization who is responsible for building relationships with business customers, is part of ABM. No channel works if treated as a set-it-and-forget it approach