Predict 2014 - Account Based Marketing with Peter Isaacson of Demandbase
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This document discusses the need for better alignment between sales and marketing teams through an approach called Account-Based Marketing (ABM). It outlines how ABM works to identify key customer accounts, learn their attributes, and target marketing and sales efforts on those specific accounts. The document provides an example of how one company, Demandbase, implements ABM by mapping important accounts, planning activities by region and industry, prioritizing events, and measuring performance across stages of the sales funnel.
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Predict 2014 - Account Based Marketing with Peter Isaacson of Demandbase
- 1. Bridging the Great Divide: Sales and Marketing Alignment Peter Isaacson Chief Marketing Officer, Demandbase
- 2. Sales and Marketing… Can’t we all just get along?
- 3. #predict2014 The sales and marketing divide MARKETING SALES Leads Personas Quantity Individuals Opportunities Buyers/Influencers Quality Accounts
- 4. #predict2014 The result… “We delivered 1,238 MQLs this quarter. +27% above goal!” MARKETING SALES “Marketing isn’t supporting us”
- 5. Focusing on volume wastes time and money #predict2014 4.4% Inquiries Convert .03% Inquiries to Source: Sirius Decisions closed/won
- 6. #predict2014 Leads aren’t valued… 50% of marketing generated leads are never followed up by sales. - Miller Pierce, 2014 VOC Study
- 7. The buying process happens before the lead is created SALES LEAD CALL #predict2014 SOCIAL MEDIA WEBSITE VISIT SEARCH DETERMINE PROBLEM WEBSITE VISIT WEB RESEARCH FRIENDS AND FAMILY Typical B2B Buying Process
- 8. #predict2014 B2B Can’t Use B2C Tactics Spray and Pray • Quantity ≠ quality • Wasted resources Persona Marketing • Targeting based on behaviors • Right person, wrong company Targeting Accounts • B2B buys & sells by account • Aligns marketing with sales/revenue ✔
- 9. #predict2014 Account Based Marketing Identify the companies most likely to buy, and then market to them
- 10. #predict2014 Account Based Marketing Identify the companies most likely to buy, and then market to them
- 11. #predict2014 Why Account-Based Marketing? 1 • Ensures attention is given to top prospects/customers • Defines growth and timing based on account specifics Focuses on best opportunities • More efficient with a defined universe • Delivers on their target accounts Supports sales reality • Linked to greater customer satisfaction and retention • Customers experience less noise, respond at higher rates to more relevant outreach Delivers customer-centric experience
- 12. #predict2014 ABM- It ain’t rocket science Identify the right accounts Market to those accounts Measure by accounts
- 13. Account Based Marketing at Demandbase
- 14. #predict2014 Identifying key account attributes 1. Overall technology applications used • Analytics • Marketing Automations • Web hosting platforms • Live Chat • Multimedia technologies 2. Complexity of website 3. Social Activity 4. Revenue
- 15. #predict2014 Mapping the accounts: the DB 1500
- 16. #predict2014 Segment by sales regions
- 17. #predict2014 Segment by key industries Software & Technology Business Services Financial Services Manufacturing Telecommunications
- 18. #predict2014 Territory and account planning WHO WHAT Overview + Brainstorm + Align Marketing + Sales + SDR
- 19. #predict2014 The territory planning process Marketing Planning Demand Generation Field Marketing Database Campaigns Sales Team Presentations Review Programs Brainstorm Additions Align Account Focus DB1500+ Final Plan Additional Territory Activities Monthly Review Perf Man Analysis Program Execution Recommended Edits -4 weeks -2 weeks Quarter Start End of 1st and 2nd Months
- 20. #predict2014 Field event prioritization
- 21. #predict2014 Target Geo: Midwest • Total Accounts in Territory: 270 • # Touched by Q3 Programs: 135 • Average # of Contacts per account: 6 • Average # of Touches per Contact: 7.5 • Q3 Activities: • Advertising campaign • B2B retargeting • Field Marketing Event: Aug 7 • # of pipeline opportunities: 4 • Won Deals: 1 • Content Marketing World (Cleveland): September 8 • Prospect Luncheon (Cleveland): September 10
- 22. #predict2014 Personalize the experience
- 23. Demandbase Performance Manager Measuring Results Across the Funnel
- 24. #predict2014 Measure by territory Programs executing this quarter: • Advertising campaign • B2B Retargeting • Chicago Field Program • Cleveland Appt Setting Campaign • Content Marketing World August July $190,350 Performance Assessment: • Saw 5 more target accounts engaged this month. • 6 key accounts engaged in in-person activities. • Strong growth in pipeline $375,500 15 27
- 26. #predict2014 The NEW result… “We reached 50% of your target accounts this quarter and contributed $4.6M in pipeline within those accounts” MARKETING SALES “I love you”
- 27. Thank You
Editor's Notes
- For all the investment in marketing technology and the huge leaps in innovation, we still hear 3 common refrains: My advertising doesn’t work My website sucks My sales team doesn’t follow up on my leads I’ll add another reality that has remained unchanged: Sales and marketing don’t get along These are not insurmountable problems, in fact, they are very solvable.
- So in the next 25 minutes or so, I want to figure out, why we can’t all just get along… Unlike the zebra and the lion, Sales and Marketing actually have common goals… So this is achievable.
- Why is there a divide… One of the primary sources is that we just focus on different things. Our end goal might be the same, but our paths to get there are completely different. Marketing focuses on…. But what does sales focus on? Ships passing in the night…
- So what’s the result? How many of you have experienced this? You have had an incredible quarter. Mktg just CRUSHED it… You’re going to a meeting with sales and thinking, finally, for the first time since June I’m going to have a good meeting with them. You get in there and report your results… We delivered over 1200 MQLs this quarter. Over 27% above goal. Check it out. And what’s sales response? Marketing isn’t supporting us… What?? I’ve got data… Hmmm, that’s strange, because I just talked to Bob in the midwest, and he said he hasn’t gotten a good lead from Marketing in like, a month… As marketers, we’ve got 3 major problems…
- 1) We focus on volume…. But that’s a total waste of time and money…
- 2) We generate all these leads and throw them over the fence….Sales guys take a sniff and go back to what they were doing…
- 3) we’re generating leads after most of the buying process has been completed. Prospects do all of this research. By the time they identify themselves, the only thing they want to talk about is price…
- Use of B2C tactics don’t work. Spray and Pray- going for volume, not quality Persona based marketing attempts to get more targeted, but you’re guessing… targeting based on some behavioral characteristics… But another approach, that does work, is targeting your marketing at ACCOUNTS. B2B businesses buy and sell by account. And this approach aligns marketing with sales, and revenue Marketing to masses is the domain of B2C. An individual purchases things as a consumer…like a candy bar, or a t-shirt, or even a phone. In B2B the masses aren’t your customers. As we’ll show, there is a finite universe of potential target accounts you can sell to, and that’s determined by business DNA. But when it come to business buying, there are multiple stakeholders involved. Research from CEB indicates that the #1 driver of B2B purchase decisions is "widespread support for the supplier across my organization.” (https://sec.executiveboard.com/images/Customer-Stakeholders-Graphic4.gif)
- The term for this is account based marketing. And simply put….
- Account based marketing is about Identifying the companies most likely to buy, and then marketing to them
- There are some really good reasons why account based marketing makes sense for B2B businesses… Focuses on the best opportunities… you select, using a solution like Fliptop, the accounts that have the best potential…you’re not going for volume, your are looking for quality ABM supports sales reality… deliver on their target accounts, and you align with the accounts that are most important to them. Deliver a more personalized, customer centric experience by focusing on a more limited set of customers.
- So… how do you do account based marketing… it ain’t rocket science… Identify the right accounts Market to them Measure them… Simple, but the result is transformational, you will suddenly have a clear idea of marketing’s impact. And because sales and marketing will both be focused on the same accounts, you will see alignment like you only dreamt about…
- So, it’s awesome to talk about this in theory. And as the post lunch coma sets in, I’m sure you’d love for me to meander on… But this is something that we apply at Demandbase as a regular part of our marketing… And in the time remaining, I thought it would be helpful to show you it in action…
- So, the start is to identify the right accounts. At Demandbase, we looked at our current customer list and our pipeline, and determined the key attributes that these accounts had in common. Things like …and importantly, we went through this process with Sales. So when we came out with our target account list, it was a jointly owned list.
- Once we had the list of accounts, which we dubbed the DB 1500 we mapped it geographically.
- Then we mapped the accounts by each of our sales reps regions.
- Then we mapped the accounts according to industry. Now, importantly, we didn’t choose the accounts by industry, we chose the accounts according to attirbutes, and THEN looked at the industries the accounts fell into.
- There are two ways we execute marketing against account based marketing... The first is relatively analog. Literally sitting down with with marketing, the sales account rep, and the sales development rep, and brainstorming the marketing programs and outbound sales activities we’ll use for each account in the terriitory… Overview of marketing programs scheduled for each rep’s territory, Demand Gen, Field Programs and Brainstorm on additional programs that could add pipeline for the coming quarter. Local events, associations, etc. Align on the set of accounts that will be the focus of all sales and marketing activities. DB1500 + Other focus accounts
- And you and your sales teams drop into a cadence, that starts a few weeks before the quarter, to develop the account based plans. Then track that through and measure during the quarter.
- Which helps inform things like prioritizing the cities in which we execute field events.
- And in the end, we can develop specific plans, by region, against the specific accounts sales and marketing is going after.
- So, that’s the analog approach…important, but tougher to scale…. The other portion of this is to actually use technology to target and personalize the experience for these accounts, using advertising to push traffic to your site, and then personalizing the experience on your site, once they get there.
- So, it’s awesome to talk about this in theory. And as the post lunch coma sets in, I’m sure you’d love for me to meander on… But this is something that we apply at Demandbase as a regular part of our marketing… And in the time remaining, I thought it would be helpful to show you it in action…
- So what’s the result? How many of you have experienced this? You have had an incredible quarter. Mktg just CRUSHED it… You’re going to a meeting with sales and thinking, finally, for the first time since June I’m going to have a good meeting with them. You get in there and report your results… We delivered over 1200 MQLs this quarter. Over 27% above goal. Check it out. And what’s sales response? Marketing isn’t supporting us… What?? I’ve got data… Hmmm, that’s strange, because I just talked to Bob in the midwest, and he said he hasn’t gotten a good lead from Marketing in like, a month… As marketers, we’ve got 3 major problems…