fishing with spears: all about account-based marketing - jon miller, godfrey fwd:b2b conference

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