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Fishing With Spears:All About Account-Based Marketing #ABM
Jon Miller, Founder and CEO@jonmiller
Topics for Today• What is Account-Based
Marketing• 3 Step Model for
Account-Based Marketing
• Metrics for ABM
Download slides and get bonus ABM eBook at: engagio.com/slides
So What Is Account-Based Marketing?
Different Deal Types Require Different Types of Marketing Support
Different Demand Types
Account-Based Marketing
Demand Generation
©2015 Engagio, Inc. All rights reserved.
“Account-Based Marketing:A strategic approach that coordinates personalized marketing and sales efforts to open doors and deepen engagement at specific accounts
– @jonmiller©2015 Engagio, Inc. All rights reserved.
Different Model
Up to 17 people influence enterprise purchases (up from 10 in 2011)*
*2014 IDG Enterprise Role & Influence of the Technology Decision-Maker survey
“Person-centric” “Account-centric” • Decision maker• End users• Influencers
Going After Target Accounts Requires an Account-Centric Focus
©2015 Engagio, Inc. All rights reserved.
Different Tactics
You Need Targeted Tactics to Reach Specific People at Specific Accounts
©2015 Engagio, Inc. All rights reserved.
Inbound vs. Outbound
Land and Expand
Often, The Best Account-Based Marketing Opportunities Are At Current Customers
“ABM Delivers The Highest ROI Of Any B2B Marketing Strategy Or Tactic” (ITSMA)
About the same
Somewhat higher
Significantly higher
16%
42%
42%
ROI of ABM
How does ABM return on investment (ROI) compare to other marketing initiatives?% of Respondents (N=38)
ITSMA Account Based Marketing Survey, October 2013
• Focuses time and resources on accounts most likely to drive revenue (“zero waste”)
• Improves marketing-sales alignment
• Creates a better, more coordinated customer experience
©2015 Engagio, Inc. All rights reserved.
ABM Today is Like Like Lead Nurturing in 2008The Next Big Thing?
Google Trends
“Sales has been doing account selling for years; marketing is now sophisticated enough to do some of the same tactics at scale.”
“Your timing is very good, based on what we see
happening at Sirius. We launched an ABM practice in response to a groundswell.”
“Account based marketing is red hot...several
attendees named account based marketing as their top priority right now”
“…it’s clear that we’ve passed the fad phase of
ABM’s most recent comeback. Now, we’re
solidly in the trend phase.”
Marketers know they need to do it, and are trying to figure out how
Account-Based Marketing Best Practices
ABM Planning Starts With The Account, Not the Offer
©2015 Engagio, Inc. All rights reserved.
#FlipMyFunnel
What do we want to say? (offers)
Who should we say it to? (segments)
Who are we trying to reach?(accounts)
What should we say? (content)
Where should we say it? (channels)
Where should we say it? (channels)
DEM
AND
GEN
ABM
Account-Based
Marketing
Who
WhatWhere
Pick Target Accounts
Tip: Limit list turnover (e.g. 25% per quarter)©2015 Engagio, Inc. All rights reserved.
Level 1: Reps Self-Select
Level 2: Basic Data
Level 3: Advanced Data
Level 4: Predictive Analytics
Build Your Database With the Right Contacts for Each Persona at Target Accounts
©2015 Engagio, Inc. All rights reserved.
Identify Contacts
Manual Purchase Predictive
Representative companies; not exhaustive
Account-Based
Marketing
Who
WhatWhere
What Does Sales Want From Marketing?
©2015 Engagio, Inc. All rights reserved.
Smarketing Alignment
“A meaningful and real relationship with the decision-makers + relationship with all significant decision influencers + understanding of the dynamics of the specific customers' business.”
Insights:• Org chart• Budget• Initiatives• Priorities
New relationships:• Accurate and clean
contacts• Air cover• Access• Meetings
With #ABM you need to knock on people’s doors.
– @jonmiller
©2015 Engagio, Inc. All rights reserved.
Opt out, tune out, toss out
Outbound Does Not Mean Interruption
Account-based marketing applies best concepts from demand generation to outbound prospecting:• Content driven• Helpful and valuable• Focused on the buyer, not the company• Personalized and relevant
No Cold Calls
©2015 Engagio, Inc. All rights reserved.
Great ABM Requires Great Customer Knowledge
“A structured approach to developing and implementing highly-customized marketing campaigns to markets of one.” – ITSMA
©2015 Engagio, Inc. All rights reserved.
“75% of executives will read unsolicited marketing materials that contain ideas that might be relevant to their business.” – ITSMA
Send Emails Like This
…share some ideas I had on how Starbucks could leverage <Company>:
• Mobile app distribution - reduce friction by allowing your website visitors to download your mobile app by texting the download link to their phone. We intelligently detect whether a phone is on iOS or Android OS and sends them to the right app store.
• Picture message a coupon to your customers on their birthday. Why tell them how good a frap will be when you can show them the gooey ribbons of caramel?
• New VIP service: text your order in to your local Starbucks. Get your favorite thirst quencher sooner.
• Picture message Starbucks coupons w/QR codes to your friends on special occasions.
• Leverage geo-location services to MMS special deals to customers when they are in close vicinity to a Starbucks.
…
Be bold – share some amazing ideas; they will respect even if you are wrong.
Account-Based
Marketing
Who
WhatWhere
Events Are a Big Part of ABM
Tip: executive invites come from someone with an equal or higher title
©2015 Engagio, Inc. All rights reserved.
• Owned events• Meetings at
3rd party events
ABM Sales Development
©2015 Engagio, Inc. All rights reserved.
Tip: measure quality of interactions, not just quantity
Direct Mail
©2015 Engagio, Inc. All rights reserved.
©2015 Engagio, Inc. All rights reserved.
Display Advertising
• IP-Based• Proactive
Retargeting• LinkedIn• Facebook• … more
Example: Custom Content + Facebook
Orchestration:It’s not about any one tactic; it’s the MIX of touches that drives success.
Open the Door
• Get relationship with cold account
Accel-erator
• Increase deal velocity and win rate
Human Nurture
• Stay in touch with helpful touches
Meetings Creator
• Schedule meetings at an event
Account Qualifier
• Follow-up on inbound interest
Example ABM Plays
• 63% connect rate
• 5% opportunity rate
• $13,000 investment
• $200,000+ revenue
Tip: Consider asking for email opt-in instead of a meeting
Open the Door
• Get relationship with cold account
Accel-erator
• Increase deal velocity and win rate
Human Nurture
• Stay in touch with helpful touches
Meetings Creator
• Schedule meetings at an event
Account Qualifier
• Follow-up on inbound interest
Example ABM Plays
Open the Door
• Get relationship with cold account
Accel-erator
• Increase deal velocity and win rate
Human Nurture
• Stay in touch with helpful touches
Meetings Creator
• Schedule meetings at an event
Account Qualifier
• Follow-up on inbound interest
Example ABM Plays
Open the Door
• Get relationship with cold account
Accel-erator
• Increase deal velocity and win rate
Human Nurture
• Stay in touch with helpful touches
Meetings Creator
• Schedule meetings at an event
Account Qualifier
• Follow-up on inbound interest
Example ABM Plays
Open the Door
• Get relationship with cold account
Accel-erator
• Increase deal velocity and win rate
Human Nurture
• Stay in touch with helpful touches
Meetings Creator
• Schedule meetings at an event
Account Qualifier
• Follow-up on inbound interest
Example ABM Plays
Metrics for ABM
It’s called “business to business”, not “business to lead”
– @jonmiller
©2015 Engagio, Inc. All rights reserved.
Waterfall is Insufficient
Don’t count the people you reach; reach the people that count.
– David Ogilvy
CoverageDo you have sufficient data, opt-in contacts, and account plans for each target account?
©2015 Engagio, Inc. All rights reserved.
“Big 5” ABM Metr ics (1)
AwarenessWhich target accounts have any awareness of us? Are they visiting the website?
©2015 Engagio, Inc. All rights reserved.
“Big 5” ABM Metr ics (2)
EngagementAre the right people at the account spending time with your company, is that engagement going up over time?
©2015 Engagio, Inc. All rights reserved.
“Big 5” ABM Metr ics (3a)
EngagementAre the right people at the account spending time with your company, is that engagement going up over time?
©2015 Engagio, Inc. All rights reserved.
“Big 5” ABM Metr ics (3b)
Marketing Qualified Account (MQA): An account (or discrete buying center) that has reached enough aggregate engagement.
Program ReachAre marketing programs reaching the target accounts? How much waste is there?
©2015 Engagio, Inc. All rights reserved.
“Big 5” ABM Metr ics (4)
COVERAGE% target accounts with a success
FOCU
S%
of
succ
esse
s fr
om
targ
et a
ccou
nts
Program ImpactHow are the ABM activities improving sales outcomes such as deal velocity, win rates, average contract values, retention, and net promoter scores
©2015 Engagio, Inc. All rights reserved.
“Big 5” ABM Metr ics (5)
• “Top 25% engagement = 18% faster sales cycles.”
• “Accounts with >three engaged contacts = 15% higher contract values.”
• “Accounts that attended that dinner = 16% more movement to next opp stage.”
ABM Market Map
Selection Insights Content Interactions Orchestration
Measurement
Identify target accounts and contacts
Understand what is relevant and resonant at account (triggers, priorities, etc.)
Create account-specific content and messaging to use in outreach
Manage 1:1 account-specific interactions in channel – Events, Outbound, Digital (ads, web)
Orchestrate intelligent account plans across teams and channels
Show impact of ABM efforts: coverage, awareness, engagement, reach, impact
Com
plem
enta
ry
Web
Ads
Dat
aPr
edic
tive
Paid
Insi
ghts
Sale
s
SDR Direc
t
Download slides and get bonus ABM eBook at: engagio.com/slides
• Account-based marketing coordinates personalized marketing and sales efforts to land and expand named accounts
• ABM delivers the highest ROI of any B2B marketing strategy or tactic
• Outbound does not necessarily mean interruption; use account-specific content to reach out
• There is no magic campaign; success comes from a mix of integrated tactics
• Leads are insufficient to measure account-based marketing; measure via coverage, awareness, engagement, reach & impact
Tweetable Takeaways
@jonmiller
©2015 Engagio, Inc. All rights reserved.
Jon Miller@jonmiller
www.engagio.com