how to use account based marketing to exceed your revenue goals in 2018

@HeidiBullock @Engagio

How to Use Account Based Marketing to Exceed Your Revenue Goals in 2018

Heidi Bullock, CMO


Heidi BullockCMO

Engagio@HeidiBullock

What You’ll Learn

1. Three top challenges to ABM

2. ABM fundamentals for getting started

3. The best ways to measure ABM


61% of buyers do extensive

research before contacting the

seller

More than 50% of buyers

consulting third party sources such

as social channels and websites

before reaching out to you.

Generic, vague content doesn’t cut

it for the modern buyer. They want

hyper-personalized materials that

directly address pain points.

Your buyer is willing to pay 30%

more for a superior buying

experience


Today

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Not enough

of the right

types of

leads

Poor quality –

80% never

convert to

Sales

Sales alignment

- Poor efficiency

Issues with

churn and

retention

Missed

Targets


To Keep Up, the Way You Market + Sell Needs to Change


Examine your current acquisition strategy- How well is it working?

6

Broad-based

Mostly inbound

Lead-centric

Goal is volume

Copyright ©2016, Engagio Inc.

Marketing Strategies

AND

Fishing with nets. You don’t care which fish you

catch as long as you catch enough fish. The fish

always swim towards you.

Demand GenerationFishing with spears. You care deeply about

which fish you catch, and you’re going to

proactively go pursue those fish.

Account Based Everything


ABM Helps Here


Challenges


Data is spread across systems.

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Challenge #1

Marketing Automatio

n

Corporate Email

Web Visits

•Challenging measurement

• Bad routing

• Poor coordination

• Limited marketing & sales alignment


The metrics for ABM are different.

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Challenge 2


ABM historically is manual and hard to coordinate.

13

Challenge # 3

Drive awareness ‘air cover’

• Brand campaign

• Digital advertising –targeted display, website personalization

Engage key individuals

• Invite to a dinner - Need Sales to invite the right people from target accounts

Set up meetings

• Plan to use ADRs for this but they have other priorities too. What if there are account blockers?

Did the right out reach happen from Sales?

Did they follow-up? How can I track that?


What is marketing orchestration?

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Marketing is a player that passes a

MQL or account related activity to

Sales and then involvement is limited.

Marketing is the coach. Customer

facing teams work together in a

coordinated and ongoing way for

success in an account. Key for ABM.

Old: The Hand-Off New: Marketing Orchestration


ABM Fundamentals


#1 - Set goals

• Have a hypothesis – We think this set of accounts in the health care vertical makes sense for us to pursue.

–Higher ASP

–Faster sales cycle

–More up-sell potential

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Example scorecard

Engagement Sales Appt Pipeline Opportunity

Size

Win Rate

>80%

of target accounts.

>30%

tier 1 prospects

40%

of enterprise initial

Pipeline from

Targets

45%

increase in Opp

Size

50%

higher for target

accounts

Time frame = Year One

Should HELP get to your revenue goals more efficiently


• Better results – ex: higher ASPs

• Expand Deal Size

• Sales Cycle is Shortened

• Eliminate unqualified buyers right away. Your focus will be on accounts most likely to buy.

• EASIER to work with marketing!

Sales Buy- in: Why should I do this?

• Shared incentives/ compensation

• Run a pilot

• Identify your sales champion

Why? How?


#2 - Identify Target Accounts

–Key vertical (ex: healthcare, entertainment, construction)

–Historical data – (where have you had success?)

–Firmographics – (size of company, revenue, geography)

–Other signals – intent data, hiring patterns, etc.

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Fundamentals


Define your Ideal Customer Profile (ICP)

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Segment Customer Churn Rate Revenue Churn Rate

<50 42.3% 43.54%

Small 23.3% 23.54%

Medium 11% 11.4%

Enterprise 5% 5.7%

Look at your key segments. Do you know which is the most profitable for the

business? Is your current strategy optimized for that?

Example:

Example

5-50 accounts (“tens”)Rich account plans

Every touch personalized

50-1,000 accounts (“hundreds”)Light research + data build out

Personalized touches to key personas

1,000+ accounts (“thousands”)Automated touches OK

Industry and persona customization

Style 3

Programmatic

Style 2

Scale

Style 1

Strategic


Example of Target Account Tiers

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Group A (Best – Strategic

Accounts) – 20 total

Group B (Great Accounts) -

100 total

Group C (Good Accounts) – 500 total

How these were

selected

These accounts are logos we

care a lot about – they are

large global fortune 500

companies.

These accounts are a

great fit with our product

and are in the top 3

verticals we care about.

We have seen success

here. Used data driven

approach to prioritize.

These accounts are in the next set of verticals

we care about. Each rep has a set of these.

Used data-driven approach to select accounts.

What we do These accounts get the white

glove treatment. Top

marketing programs.

These accounts get

vertical specific plays.

Includes key events,

detailed content, pitch

deck.

These accounts get our scalable ads, select

content assets, and reps can do one lunch and

learn program. Light vertical content.

@HeidiBullock @Engagio 23

Style 1Strategic

Style 2Scale

Style 3Programmatic

Inbound

Spears Nets

#3 – The Content


#4 - Programs for Target AccountsType of Program Program Accounts

Tier 1 Tier 2 Tier 3

Direct Mail High value Post card – lower value Post-card lower value

Field Events Lunch and learn + dinners +

onsites

Lunch and learn Lunch and learn

Tradeshows Special dinner

Playmaker sends Yes Yes Yes

Database sends In some cases OK Yes Yes

Digital Yes + tailored content Yes + industry Yes – generic?

Content Syndication Yes – verticals and key

companies

Yes – verticals Yes -verticals

Sales outreach Yes (calling campaigns, drive

attendance)

Yes (calling campaigns, drive

attendance)

No

Appt Setting Yes Yes No

Contact Discovery Yes Yes No

Customer content

Custom streams

Yes (tier 1 and 2)


#5 - The Team

Role Sample Responsibilities

ABM Leads

(marketing/sales)

• Spearheads the initiative

• Develops playbooks and tech infrastructure for successful initiative

• Tracks the metrics and communicates the program’s successes

Field

Marketer/Marketing

Manager

• Works with the ABM marketers to execute plays at the local level

Marketing + (Sales

Development Reps)

• Helps research the account and build contacts

• Reaches out to the account to build relationships

• Crafts account-specific emails and messages

• Nurtures relationships over time

• Supports the Account Executive as needed

Strategic Account

Manager (AE)

• Drives the plan forward with the team and at the account

• Helps shape the ABE strategy and each account plan

Executive Sponsors• Deal / customer support to drive engagement


Benchmarks

Tactics Challenges


Make it Personalized to Drive Results

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10x – 43% response

rate3% response rate

Test! Core Prospecting Play

205 193 113 45 24 1Mtgs Opps Deal(so far)

EngdPkgs Resp

22%

Meeting Rates

Books only: 25%

Kindle only: 21%

Ads and Kindle: 21%

Ads and Books: 13%

Not significant

Web Traffic Visitors

Ads +43% +47%

No Ads +22% +8%

Directionally meaningful but not significant

34.2x pipeline to spend


Measurement


Don’t count the people you reach;

reach the people that count.

– David Ogilvy


ABM metrics are different

•Focus on quality not quantity

•Track accounts not leads (MQAs not MQLs)

•Time spent (engagement minutes)

•Track impact and influence more than try to apportion ‘credit’ (team effort)

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What to measure

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Do you have

sufficient

data,

contacts, and

account

plans for

each target

account?

Are the target

accounts

aware of your

company?

Are the right

people at the

account

spending time

with your

company? Is

that

engagement

going up over

time?

Are

marketing

programs

reaching

target

accounts?

Are ABM

activities

improving

key sales

outcomes?

COVERAGE AWARENESS ENGAGEMENT REACH IMPACT

@HeidiBullock @Engagio33

Early Stage Metrics Later Stage Metrics

1• Coverage

2• Awareness

3• Engagement with key programs

4• Meetings

1• Customer MQAs

2• Opportunities

3• Pipeline

4• Impact/ ROI

Tip 1- Measure at different points in time


Tip 2 -Take a baseline


Tip 3 - Test! Core Prospecting Play

205 193 113 45 24 1Mtgs Opps Deal(so far)

EngdPkgs Resp

22%

Meeting Rates

Books only: 25%

Kindle only: 21%

Ads and Kindle: 21%

Ads and Books: 13%

Web Traffic Visitors

Ads +43% +47%

No Ads +22% +8%

34.2x pipeline to spend


Tip 4 – Have a dashboard to report on progress

Tier # of

AccountsAwareness MQA

Sales

ApptOpps

Pipeline

ACV

Conversion

to OppC/W Deals

C/W

ACV

Conversion to

C/W

Tier 1 # # # # # $ % # $ %

Tier 2 # # # # # $ % # $ %

Tier 3 # # # # # $ % # $ %


Take-Aways

1. Be clear on goals and timing.

2. Have a diligent approach for account selection and program entitlement.

3. Use orchestration not the ‘hand-off’.

4. Research, test, mini-pilots.

5. Measurement is different with ABM – think about time spent and MQAs.

6. Think big but start small.

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Summary

The secret to successful

account based marketing is…

how to use account based marketing to exceed your revenue goals in 2018

Business