Drive Growth With An ABX GTM Strategy
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An ABX strategy involves focusing marketing and sales efforts on specific target accounts across their buyer's journey. The document discusses aligning teams around growth objectives, gaining buy-in, and executing and optimizing the strategy. It also covers identifying best opportunity accounts, taking a journey stage approach to engage accounts where they are in the buying process, and measuring key metrics to track engagement, pipeline, and ROI. The goal of an ABX strategy is to orchestrate relevant interactions between marketing and sales to close more deals.
Drive Growth With An ABX GTM Strategy
- 1. Drive Growth with an ABX Strategy Tracy Kraft VP, Revenue Marketing- Demandbase
- 2. © 2020 Demandbase | ✓ What is ABX? ✓ How to focus on your best opportunities ✓ Take a journey stage approach ✓ Lean in on sales + marketing alignment ✓ Measure what matters 2 Topics
- 3. © 2021 Demandbase | ✓ Plan and Align Align on growth objectives with all of your business partners ✓ Gain Buy-In Ensure buy-in from the top-down; note dependencies and needs ✓ Execute and Optimize Stay the course, optimizing as you go. 3 First, a note on strategy
- 4. © 2021 Demandbase | Gaining Buy-In Across the Organization ● Outline the need for change ● Show what’s in it for them ● Make the ABX Journey clear ● Commit to shared accountability (and success!) ● Make sure senior executives are in 4
- 5. © 2021 Demandbase | Cascading Goals 5 Company Goals Sales Goals Marketing Goals Campaign Goals Individual Goals Strategy Defined - Operating Plan of Record - Marketing OKRs - Roadmap and Plans - Weekly OKR Updates
- 6. © 2020 Demandbase | What is Account-Based Experience? 6 ABX
- 7. © 2020 Demandbase | A fundamental strategy that spans all your go-to-market efforts; not a simple campaign or tactic Account Based Experience A go-to-market strategy that uses data and insights to orchestrate relevant, trust Marketing and Sales actions throughout the B2B customer lifecycle.
- 8. © 2020 Demandbase | Account-Based Experience (ABX) = The Best of ABM + CX 8 Traditional ABM Modern ABX Interruption-based Aligns go-to-market efforts to the account journey using intelligence and insights to know when and how to engage and what to say to each account Marketing only Orchestrated process with Marketing and Sales and Customer Success Primarily Pipeline The full B2B customer lifecycle including brand, pipeline, opportunities, retention/expansion
- 9. © 2020 Demandbase | 9 The Core ABX Processes Find the accounts that drive your business Engage with relevant, personalized interactions across channels Align Marketing and Sales to coordinate interactions and close more deals Build your account data foundation Measure account progress
- 10. © 2020 Demandbase | 10 Identify your best Opportunities Focus on Accounts that Matter
- 11. © 2020 Demandbase | Connect all your data 11 For one comprehensive view of the account and the people at them CRM Marketing Automation Corporate Email Ad Impressions Website Visits (Anonymous) Intent 1st Party 3rd Party Contacts Deanonymize Lead-to-Account Match Maintain Validate Cleanse Enrich Deduplicate Account ID Firmographics & Hierarchies Technographics
- 12. © 2020 Demandbase | The number of accounts you could pursue is larger than the number you can pursue Two key strategies: 1. Defining different styles of ABX based on account value. 2. Triggering extra focus. 12
- 13. © 2021 Demandbase Source: ITSMA and ABM Leadership Alliance, 2020 ABM Benchmark Study • Deep dive account research • Highly-customized programs for each account • Investment per account: $36,000 - $50,000 • 84% accounts are current customers, 16% new “Handful” – median 14, mean 39 $2M-$100M++ 1:1 13
- 14. © 2021 Demandbase • Micro-clusters of ~20 accounts focused on similar issues • Deep cluster research • Highly-focused programs, moderate personalization • Investment per account: $3,000 - $15,000 • 49% accounts are current customers, 51% new Source: ITSMA and ABM Leadership Alliance, 2020 ABM Benchmark Study “Handful” – median 14, mean 39 $2M-$100M++ “Dozens” – median 50, mean 177 $250K – $2M 1:1 1:Few 14
- 15. © 2021 Demandbase • Many account-based programs live here • Broad programs, light personalization • More technology including intent data and advertising • Investment per account: < $1,000 - $3,000 • 72% accounts are NEW customers, 28% current Source: ITSMA and ABM Leadership Alliance, 2020 ABM Benchmark Study “Handful” – median 14, mean 39 $2M-$100M++ “Dozens” – median 50, mean 177 $250K – $2M “Hundreds” – median 500, mean 6,221 $50K – $250K 1:1 1:Many 1:Few 15
- 16. © 2021 Demandbase “Handful” – median 14, mean 39 $2M-$100M++ “Dozens” – median 50, mean 177 $250K – $2M “Hundreds” – median 500, mean 6,221 $50K – $250K 1:1 Targeted Demand Gen (ICP) 1:Many 1:Few “Thousands” <$50K Source: ITSMA and ABM Leadership Alliance, 2020 ABM Benchmark Study 16
- 17. © 2020 Demandbase | Time to select… Marketing-driven, Sales-owned 17 1:1 1:1 1:1 1:Many 1:Few 1:Many 1:Few
- 18. © 2021 Demandbase | ABX Entitlements Example 18 Always On Extra Focus 1:1 • Account plan • 1:1 workshop • VIP experiences • 100% custom content, chat • Advertising $$$ • Proactive outbound • Quarterly contact refresh (5) • $100+ gifting • Cameo message • 100% customized response 1:Few • Mini account plan • 20% custom content • Advertising $$ • Proactive outbound • Quarterly contact refresh (3) • $75+ gifting • Highly customized response 1:Many • Advertising $ • Limited outbound • Program-based content • $50+ gifting • Customized response ICP • General demand gen • No outbound until trigger • Lightly customized response
- 19. © 2020 Demandbase | A Journey Stage Approach 19 Meet your accounts where they are
- 20. The Buyer’s Journey Identifying and Defining Stages
- 21. © 2021 Demandbase | Digital Marketing Campaign Structure Buyer’s Journey Account Prioritization Channels Paid Search / Google Ads DB1 Advertising Content Syndication Paid Social / LinkedIn Digital $$$$ Digital Reach Awareness Engaged MQA Opportunity Customer Expansion Opp Expansion Won Qualified 1:FEW AE TOP ACCTS 1:1 Strategic 1:MANY DK4K + Subsidiaries Demandbase ICP Digital Reach Digital $$$ Reach $$ $ $
- 22. © 2020 Demandbase | Content Mapped By Buyer’s Journey
- 23. © 2020 Demandbase | The Right Account The Right Content The Right Time DB1 Advertising Awareness Engaged MQA Opportunity Customer Expansion Opp Expansion Won Qualified
- 24. © 2021 Demandbase | 24 Align the organization Lean into sales and marketing alignment “It’s easier to work in silos. You just don’t make as much money.” Peter Herber, CMO Mural
- 25. © 2021 Demandbase | Changing Dynamics for Sales and Marketing 25 Old: The Hand-Off New: Orchestration TOPO: #1 indicator of account-based success is the coordination between marketing and sales. Source: TOPO’s 2019 Benchmark survey
- 26. © 2021 Demandbase | Orchestration 26 Automate and Scale Account-Based Processes Across Channels Retention & Advocacy Cross-Sell CDM Cross-Channel Automations Segmentation Precise Segmentation Unlimited Automations Cross-Channel Play Automation Customer Data Management Cross-Sell Plays
- 27. © 2021 Demandbase | Use Case: Prioritize Engagement A large global brand with 98% of its revenues from B2C needed to gain market share and mindshare for its cloud B2B business from its two largest competitors. They went from broad B2B display advertising, to a targeted account-based advertising strategy. 27 68% increase in closed/won business 5.5X increase in ROI on ad performance
- 28. © 2021 Demandbase | Use Case: Prove Advertising ROI A software company was unable to connect their account and intent- specific advertising to actual revenue. Leveraged Demandbase to identify in-market accounts for advertising while keeping a control group separate for measuring. 28 2x engagement of accounts advertised to $9m difference in pipeline
- 29. © 2020 Demandbase | ABX In Action - LinkedIn “I HEART ABM” Winning Play 29 No Wasted Spend Double Play with Jennifer Hughes, Director Digital, Demandbase ● LinkedIn + DB1 + ABX Strategy ● Dynamically adapts as accounts move through Journey and Sales Cycle ● Right Accounts Play: Target these people only if they are in one of these target accounts ● Net New Play: Target these accounts but do not target these people
- 30. © 2021 Demandbase | 30 Measure what Matters Track Everything
- 31. © 2021 Demandbase | Account Based Experience Metrics 31 • Type Metric Description Relationship Engagement Am I creating and deepening relationships with target accounts? Journey 4 Vs: Volume, Velocity, ConVersion, Value How do accounts move through the buying journey towards desired outcomes (pipeline, revenue)? Attribution ROI Models: First, Last, Multi-Touch, etc. What is the ROI on my ABX budget? If we invest $1, what is the expected Opportunity Value?
- 32. © 2021 Demandbase | Engagement metrics tell you relationship quality 32
- 33. © 2021 Demandbase | Journey Metrics 33 • Journey KPIs Metric Questions It Will Answer Volume # of Accounts that move into a stage Pipeline value of Accounts that move into a stage How many MQAs did we create this month? How many Opportunities did we create over time? What is the value of the sales pipeline generated? Value # of Accounts in each stage $ Value of Accounts in each stage How Target Accounts are Engaged? How many Open Opportunities are there? Do we have enough Pipeline to achieve our bookings targets? ConVersion Rate % of Accounts that move from one stage to another What percentage of Target Accounts become Opportunities? What percentage of MQAs become Customers? What type of Accounts convert the best? Velocity Average # of days between two stages How long does it take to move an Account from MQA to Opportunity? Do certain types of Accounts move through the funnel faster than others? What is the average time spent in each stage?
- 34. © 2021 Demandbase | Example: What are my top performing channels for MQAs? 34 Identify which channels are sourcing MQAs (First Touch Model), pushing accounts to MQA (Last Touch Model), and the top activities moving the account to MQA (Engagement Minutes Model) Attribution answers this in the MQA Impact Dashboard.
- 35. © 2020 Demandbase | Quick Steps to Value 35 Get Started Fast.
- 36. © 2021 Demandbase | Think Big, Start Small, Move Quickly • Pick your accounts: Identify accounts in your ICP, prioritized by intent. • Pilot account-based advertising: An easy on-ramp since most companies already make brand investments. • Map leads to accounts: Lead-to-account matching is the foundation of any ABX initiative. 36
- 37. © 2020 Demandbase | Use Case: Top of Funnel Advertising - New Business 37 • Products Used: • Engagement Platform, Advertising • Recommendation: • Begin by creating an Account List referencing your TAL • Include the Journey Stage of Aware to show accounts that are showing intent but are not showing a high level of engagement • Within Advertising, create a New Campaign, and utilize the list you created to create a personalized campaign to drive awareness and engagement As a Digital Marketer, I want to increase site traffic from target accounts who are showing meaningful intent but have low interaction with my brand. • Take It To The Next Level ❏ Layer on other characteristics, Pipeline Predict, and/or Qualification Score to refine account list ❏ Add accounts that have converted from Top of Funnel ad campaign to Mid-Funnel ad campaign ❏ Leverage Site Customization to Personalize Home Page and/or other high value pages of your website to ensure consistent messaging
- 38. © 2021 Demandbase Clear & Complete Guide to Account Based Experience 250+ pages of practical advice and best practices your.demandbase.com/resources 38 Market Segmentation Playbook
- 39. © 2020 Demandbase | Thank You 39 You’re the best!