A Blueprint for â€¨ Account-Based Marketing How Small Companies Can Succeed at ABM
Christine Olivas, VP of Marketing, Lingo Live Christine@LingoLive.com, @colivas
Christine Olivas VP of Marketing Lingo Live email@example.com @colivas
“But That’s for Big Companies…” The Truth about ABM for Small & Emerging Businesses
Among Companies Who Have Adopted or Will Adopt ABM,
35% had revenue of more â€¨ than $1.1 billion
18% had revenue between $101 and $1 billion
45% had revenue less than $100 million
“It’s not a surprise that enterprises are most likely to implement ABM. But the fact that small businesses are outpacing their midsized counterparts is interesting. [Perhaps they are] more agile and daring than established companies and thus quicker to adopt new methods that can help them scale out early growth.” Lora Kratchounova, Scratch Marketing + Media
Activity: Letâ€™s Bust Some More ABM Myths! True or False? Marketers using ABM only target Accounts, not Leads. You canâ€™t do ABM and traditional lead generation at the same time. I have to invest a significant amount of money to switch to ABM. ABM is the same as regular marketing except with a different name. Sales alignment is even more important with ABM.
Activity: Letâ€™s Bust Some More ABM Myths! True or False? ABM primarily involves high-touch tactics (events, direct mail, executive outreach). ABM tackles the challenge of buy in from multiple stakeholders.
If I implement ABM, everything I create has to be account-specific or personalized. ABM is mostly for large companies. Everyone is going to love the adoption of ABM.
â€œ[Large enterprises] might have more employees, resources, and tools at their disposal, but there is one strategy that every business, big and small, can rely on to make a significant impact on revenue goals: account-based marketing (ABM).â€? Josh Baez, MarketingProfs
Key Takeaways Why ABM Works Well for Small Businesses Quality over Quantity • Makes best use of limited budgets • Allows for deeper customization and penetration
Personal Connection with Prospects • Content and campaigns have deeper resonance • Avoids database “fatigue”
Sales and Marketing Alignment • Fewer handoffs and less friction
Tiered Efforts Still Yield Results • Approach allows for incremental effort AND results
“ABM may have become an over-used buzzword, but ultimately, it simply means finding the right customers for your business and giving them exactly what they need.”
Putting ABM into Practice A Real-World Case Study
Lingo Live Pre-ABM February 2017 “Spray and Pray”
Below-Average Open & Unsubscribe Rates
Too Many End Users
10>1 Ratio in Contact Management System
Lingo Live Post-ABM October 2017 Account-Based Targeting
375 Marketing Qualified Accounts (MQAs)
Consistent Engagement across Customer Lifecycle
Focus on Buying Team
4-5 Engaged Roles â€¨ per Target Account
Motivate Your Team to Use ABM Find the right marketing style for your company Review Your Sales Cycle • Is it a ‘Complex’ sale – i.e. is it a long sales cycle time? • How many decision makers are involved on the customer side?
Review Your Sales History • Have you lost a deal because someone was not on board? • Have you closed a deal without talking with the person who signed the check?
Address any Hesitations? • What are the long term costs of not switching to ABM?
Get People Excited! • More sales, better alignment & new technology!
“Traditional demand generation is fishing with a net. Account Based Marketing is fishing with a spear.” – Engagio
The 5 Keys to Our Initial ABM Success Just Remember “ACCTS” A – Account Data
C – Campaign Coverage
C– Customization & Content
• Gather insights on the companies you’re reaching
• Make sure you’re reaching out across your sales funnel/ process
• Develop assets that feel specific to the company and/or industry
T - Technology • Have the right tools to reach out easily and effectively
S - Success Measurement • Determine what’s worked and optimize accordingly
A – Account Data Treating Companies like People Beginner • Analyze common qualities of closed deals/happy customers and develop an Ideal Client Profile (ICP)
Intermediate • Do account insights training for your sales team: Glassdoor, Google Alerts, social media, etc.
Advanced • Purchase a tool that provides real-time updates on key company milestones, org charts and company “temperature”
C – Campaign Coverage Connect at Key Points of the “Reverse Funnel” Beginner • Document your customer lifecycle
Intermediate • Implement campaigns designed to address 1-2 key friction points
Advanced • Create outreach programs for every stage of the funnel and automate them
C – Customization & Content Tailor Asset & Message to the Account Beginner • Start with a copy-based insight
Intermediate • Dynamic emails, landing pages and banner ads
Advanced • Account-specific “plays” tailored by account and individual
T – Technology Select & Implement Tools that Work for ABM Beginner • Make sure your CRM is in place and set up properly for ABM
Intermediate • Implement marketing automation that you can use to engage and track your target accounts online and offline
Advanced • Select other ABM and high-touch tools that can be used for account outreach at scale (Terminus, Sendoso, Vidyard, etc.)
S – Success Measurement Select & Implement Tools that Work for ABM Beginner • Leverage the Salesforce Campaign Influence Report
Intermediate • Incorporate MQAs in addition to MQLs/leads
Advanced • Consider a purpose-built Analytics tool to track multi-channel campaign success and quickly identify opportunities for optimization (Pardot Wave)