Account based marketing in B2B space
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The document outlines account-based marketing (ABM) as a strategic B2B marketing approach that targets individual accounts with personalized content and campaigns. It highlights the significant ROI and revenue generation potential of ABM, emphasizing the need for commitment, leadership, and detailed planning for successful implementation. Additionally, it discusses the critical elements of ABM, examples of its execution, and the challenges faced in its adoption.
Account based marketing in B2B space
- 1. Account-Based Marketing in B2B Mark Sekula The Marketing Expert
- 2. Mark Sekula The Marketing Expert • Senior Marketing Professional • Lead marketing efforts at prominent B2B technology companies • Life Sciences, Financial Services, Public Sector, Manufacturing, Healthcare • Field and Product Marketing, Operations • Areas of Expertise • Developing Compelling Marketing Plans & Programs • Integrated Marketing Campaigns • Account-Based Marketing • Developing CompellingContent
- 3. WHAT IS ABM?
- 4. Value of ABM • Almost 85% of marketers who measure ROI describe ABM as delivering higher returns than any other marketing approach; half of these marketers cite significantly higher returns. (ITSMA) • Companies with ABM in place generate 208% more revenue for their marketing efforts. (MarketingProfs)
- 5. Value of ABM Trends Driving Adoption of ABM • 82% of prospects value content targeted to their specific industry. • 75% of executives will read unsolicited materials that contain ideas that might be relevant to their business. • 67% find content targeted to their job function valuable. Source: SimplyDIRECT • 75% of customers say they prefer personalized offers Source: Aberdeen Research
- 6. Value of ABM The Result.. “Sustainable growth and profitability within our most important clients.” ITSMA If we… Gain deep insight into client’s business and key goals Leads to.. Understanding of how our capabilities and solutions can help target account address their major business issues.
- 7. DifferentApproaches to Marketing ❑ Targeted Marketing ❑ Account Based Marketing ❑ Mass Marketing
- 8. What is ABM? FromWikipedia SiriusDecisions IT Services Marketing Assoc. (ITSMA) “Account-based marketing (ABM), also known as key account marketing, is a strategic approach to business marketing in which an organization considers and communicates with individual prospect or customer accounts as market of one.“ “Account-Based Marketing (ABM) identifies insights, integrated marketing initiatives and sales alignment requirements to deliver and measure impact with target groups of customers and prospects. “ “ABM is more than a sales or marketing approach; it is a collaborative strategy that engages sales, marketing, and delivery professionals, as well as key executives in the chosen client account to determine where and how to best meet the client’s unique business imperatives.
- 9. Key Elements of ABM based on previous definitions... • Key “Select” Accounts • Strategic Approach • Account consider “market” of “one” • Through “process” we “identify insights” • Leverage “integrated” marketing initiatives • “Measureable Impact” • “Collaborative Strategy” with sales and others • Engages Sales and Marketing and delivery professionals • Objective is to meet account unique business objectives
- 10. WHAT’S NEEDEDTO DO ABM EFFECTIVELY?
- 11. Three ImportantThings Needed to do ABM 1. Commitment 2.Leadership 3. Plan
- 12. Commitment
- 13. Commitment from.. Sales Marketing Other key stakeholders • Product Marketing • Product Management • Industry Marketing • Analyst Relations • Partner / Alliances
- 14. LEADERSHIP
- 15. Leadership - Sales - Marketing - Other Key Stakeholders “LEADERSHIP IS ACTION, NOT POSITION” Donald H. McGannon,Former President at Westinghouse Broadcasting Corporation
- 16. PLANNING ABM
- 17. Planning Fail to Plan, Plan to Fail”
- 18. Planning • Who,What,When,Where, How,Why? • What do you want to get out of ABM and by when? • Why are you doing ABM? • How will you know when you are successful? • Who should be involved and why? • How much budget do you have or will you need? • When will you start and end? • How many and which accounts will you target?
- 19. CHOOSINGTHE RIGHT ACCOUNTS AND CONTACTS
- 20. Choosing “Right” Accounts Top Accounts with Potential to Produce Revenue for your Company (Tiering by opportunity) Competitor’s Accounts with Opportunity Accounts that have Strongest Internal Connections
- 21. Message Target Contacts Key Contacts and Message Account Personas Channels
- 22. Key Contacts Defining Key Contacts Personas • Who are key contacts that will helped by your product or service? • What do they do? • What do they care about? • How can you have them care about what you provide? • How best to reach them? This requires research on company and contacts. Where to get contact data? • Sales and your Internal DB • External DiscoverOrg, Hoovers, OneSource, Jigsaw, Zoominfo
- 23. CHOOSINGTHE RIGHT MESSAGE , CONTENT AND PROPER CHANNEL
- 24. The Message What should be your message based on the value proposition? Does it need to change with the persona? What is best content type to communicate it? What is best channel to communicate it? Email SocialConference Direct Mail
- 25. ContentType for Message • Video • eBook • Webinar • Whitepaper • Blog • Custom Brochure • Newsletter • Customized Brochures • Personalized Assessments or Evaluations What content makes the most sense relative to the target audience?
- 26. Channel Personalized Approach with Personalized Content • Personalized Email • Direct Mail • 3D Mailer • Live Event • Conference • Mobile Device • Social Media • Blog • Custom Landing Page,Website or Community Site • SEO • Phone Multi-Channel Email Direct Mail Live Event Conference Social Media Blog Phone Custom Landing Page
- 27. Buyer’s Journey Educational webinar Product webinar Case studies & video testimonial Educational video Demo video Custom brochure Assessment Questionnaire Data sheet Custom Presentation Educational live events Product live event 3D Mailer – Video Card Free Trial Tactics/Assets Program Awareness Evaluation Decision Educating on Problem Considering Solutions Making Decision You want the appropriate assets along the buyer’s journey to lead to a purchase.
- 28. Leverage Appropriate MarketingTactics Leverage ExistingTactics • Existing Activities • Partner events • Innovation Day • Company Client Conference • Industry Forums • Web seminars • Partner led seminars • Sponsored Analyst events • Company eNewsletter • Hospitality or Sports Event Create NewTactics • CustomAccountActivities • Executive Roundtables • Executive Dinner • Customer On-site Lunch & Learns (on specific topic) • Educational Briefing(Full day multiple topics) • Create Account User Group with multiple divisions • Webcast on a topic/s specifically for account
- 29. Key Elements for ABMTargeting Data The Right Internal or External for theTarget Accounts & Persona (Internal vs External Data) Message Compelling and Consistent Message to Target Audience Account and Specific Persona (Why /What / Pain and Benefit) Content LeverageThe Right Content to get the word out (Video, eBook, Blog, Solution Brief,Whitepaper, etc.) Channel LeverageThe Right Channel (Social Media, Live Event, Webinar, Conference, Email, etc.)
- 30. HOWTO START
- 31. What’s Involved? Understand Phase •Pick Accounts •Understand current situation – Company Mission, objectives, technology, Focus of their business, # of employees, Mission, areas for Improvement •Key Relationships at Account (that will help us) •Potential Opportunity (white Space or competitor vulnerable areas ) Account Overview Define Phase •What are we looking to accomplish (with your sales/marketing) •By what timeframe •Example…generate $XM in revenues in Infrastructure services this year Account Objectives/Goals Plan / Executve Phase •Tactics and Personal Content •Resources •Responsibilities •Quarterly “Plan” and Tracking of Results Account Marketing Plan by Quarter
- 32. Responsibilities of Sales and Marketing Sales Lead (Should Lead ABM) • Define Accounts, known key contacts, whitespace • Define marketing plan with marketing • Define whitespace and relationships • Leverage existing relationships with clients • Be part of planning process to develop content for event Marketing Lead • Lead marketing plan development with sale • Content Creation ( i.e. eBooks, Videos, etc.) • Thought leaders and speakers for events • Acquire key contacts working with sales • Venue for events
- 33. Resources both Internal and External Internal • Industry Experts • Alliances • Analyst Relations • Events, Branding, PR External • Analysts • Partners • Other Clients
- 34. ABM Marketing Plan • Key objectives – Revenue, relationship, other • Key Conferences to attend • Key events to develop • Content to be created along Buyer’s Journey • Results required
- 35. Example ABM Marketing Plan (Key Product andTargetingTop 25Accounts) 35 35 Online (Email & Webinars) JAN FEB MAR APR MAY JUN Educational Webinar with Analyst Email to Target ABM list LinkedIn InMail about upcoming Webinar LinkedIn InMail about upcoming Webinar LinkedIn InMail about upcoming Conference LinkedIn InMail about upcoming Event & Webinar LinkedIn InMail about upcoming Hosted Event Conference and Speaking Role and hosted session Hosted Company Event Events Conf./ hosted New /Existing Content Analysts Create New Analyst Report Case Study Key Customer Solution Brief Video Testimonial Key Customer Analyst speaker For Webinar Social/Blogs Posts, PR Email to Target ABM list Use buyer’s journey tactics focused on your products in services to map this out. Email to Target ABM list Product Webinar with Customer Resources required – Analyst to write report & speak, customer for case study & speak.
- 36. Track Results of ABM activities How do we track our results on ABM activities? Quantitative • Did we get connected with new key contacts? • Is there an increase in traffic to our website by the account? • Did we get a meeting with a key contact? • Are key contacts downloading assets we send them? • Did we get a new RFI/RFP? • Did we generate any new business? Qualitative • Are we becoming well known within the account? • Is the account coming to us to gain knowledge?
- 37. ITSMA and ABM Framework
- 38. WHAT’S TECHNOLOGY IS NEEDED FOR ABM
- 39. Technology to Leverage in ABM Sales Automation MarketingAutomation • Triblio,Terminus, Engagio Account-Based MarketingAutomation LinkedIn Sales Navigator
- 41. So what are the top Account-Based Marketing challenges?
- 42. Challenges Around ABM Company ABM Challenges Justifying cost by proving ROI to the business Hiring right talent for ABM Getting ABM budget Sales Engagement Resource Constrained Time Intensive
- 43. EXAMPLES OF ABM
- 44. Examples • MyVITO letterCampaign • Leveraging a Key Conference • ABM to oneTarget Account
- 45. VITO LetterCampaign • VITO –”Very ImportantTop Officer” • Target 30 Accounts and 2 to 3 contacts per account • Letter toVP, Senior Director, or Director level in IT in key area of business • Review account in DiscoveryOrg to find unique projects or challenges • Highlight experience in areas where company may need assistance leveraging successful projects at other organizations • In letter state sales person will be calling on a specific date and time. Also ask for a face-to-face meeting • Sales person also emails similar content to letter to contact • In postscript of letter and email, it is stated sales representative will call on a specific date and time • With letter a Starbucks card is also provided • Handwritten envelope • Results • Over 6 months • 22 accounts and 77 custom letters sent • 3 meetings ( 2 with CIOs, one with Director level) • Over $6M in revenue
- 46. Leveraging Key Conference • Target top 50 medical device accounts with email communications and attending key conferences • Sponsored multiple activities at one key conference which provided us maximum exposure to CEOs of the top 50 • Sponsored panel discussions withCEOs • Through our sponsorship we where able to meet several key CEOs where we had multiple opportunities • Leveraged this withCIO at company • Results • Generated meetings with several key accounts • Closure of multiple millions in revenue at several accounts Key Conference and Sponsorships Top 50
- 47. Targeting One Account • Key medical device customer– was using our solutions at one of their locations • Our objective - expand this solution and others into customer account • Sales provided - understanding of accounts key business objectives and mapped to our solutions • We targeted - key areas where our solution would help meet business objectives • To Educate - developed community site where customer could see the solutions that map to their objectives and communicated to target group via email the existence of the site • Leveraged video testimonial and case study from one location to promote to other locations at session with client • Expanded the use of the solution at other locations
- 48. Summary
- 49. Summary • What is ABM • ABM benefits • What’s involved • Major challenges • Examples of ABM in action
- 50. Thank You! Mark Sekula The Marketing Expert [email protected] 267.968.2047