We’ve covered the basics of Account Based Marketing (ABM) in previous blog posts, but now it’s time to get down to business. There are a few different approaches to setting up and implementing an ABM program, and at our #B2BTalks event industry experts shared their secrets to ABM success. Let’s take a look at how you can carry out your ABM program, from identifying decision-makers in key accounts to deciding where to spend your resources.
Mapping Your Target Accounts
The first step to starting your ABM program is to identify the types of companies you would like to reach based on parameters set within your organization. This is usually where the collaboration between sales and marketing begins.
Rafi Kretchmer, VP Marketing at Panaya, looks at 4 parameters when selecting target accounts:
Potential business and revenue
Company demographics
Technological fit
Past engagement
If a company doesn’t match the criteria, then it doesn’t make the list.
Identifying the Decision Makers Within Your Target Accounts
According to Mike Tellem, VP Product Marketing at Marketo, when it comes to identifying decision-makers in your key accounts, it’s best to ask the sales team. They’re the ones who know how decisions are made within each organization. They can provide you with a list of key positions that should be approached and will increase your chances to close a deal.
Should you Create Campaigns per Role?
After defining your criteria for mapping target accounts, and the decision makers within those accounts, you now have created a list of people for targeting that are all potential customers. While it may be more of an effort to run various campaigns that target specific titles in specific accounts, the fact that you may secure a high revenue deal makes it all worthwhile. Having such filtered audiences increases the chances of reaching the right people and making a great impact on your business.
Is ABM About Prospecting or Cross Selling?
Running an ABM program doesn’t require you to choose between approaching new customers or cross selling. According to Dana Poleg, VP Marketing at Kaltura, ABM can greatly benefit both cross sales and prospecting. In both cases, running targeted activities contributes to the efficiency of the process, whether its increasing adoption of current customers, selling to additional departments, or doing tailored campaigns to sell to prospects.
If marketing and business goals are to secure new logos, then that is where you should focus. Once you have enough customers, you can decide to start looking at cross selling. Remember: you’re not trying to cross sell to everyone, as not all clients are relevant.
ABM isn’t the only solution for all marketing challenges, but if you’re looking for a targeted approach to reach your marketing and business goals, look through the lens of ABM and see how it can work for you.
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How to Run a Successful Account Based Marketing Program
October 2, 2017
Farrah Fidler
We’ve covered the basics of Account Based Marketing (ABM) in previous blog posts, but now it’s time to get down to business. There are a few different approaches to setting up and implementing an ABM program, and at our #B2BTalks event industry experts shared their secrets to ABM success. Let’s take a look at how you can carry out your ABM program, from identifying decision-makers in key accounts to deciding where to spend your resources.
Mapping Your Target Accounts
The first step to starting your ABM program is to identify the types of companies you would like to reach based on parameters set within your organization. This is usually where the collaboration between sales and marketing begins.
Rafi Kretchmer, VP Marketing at Panaya, looks at 4 parameters when selecting target accounts:
If a company doesn’t match the criteria, then it doesn’t make the list.
Identifying the Decision Makers Within Your Target Accounts
According to Mike Tellem, VP Product Marketing at Marketo, when it comes to identifying decision-makers in your key accounts, it’s best to ask the sales team. They’re the ones who know how decisions are made within each organization. They can provide you with a list of key positions that should be approached and will increase your chances to close a deal.
Should you Create Campaigns per Role?
After defining your criteria for mapping target accounts, and the decision makers within those accounts, you now have created a list of people for targeting that are all potential customers. While it may be more of an effort to run various campaigns that target specific titles in specific accounts, the fact that you may secure a high revenue deal makes it all worthwhile. Having such filtered audiences increases the chances of reaching the right people and making a great impact on your business.
Is ABM About Prospecting or Cross Selling?
Running an ABM program doesn’t require you to choose between approaching new customers or cross selling. According to Dana Poleg, VP Marketing at Kaltura, ABM can greatly benefit both cross sales and prospecting. In both cases, running targeted activities contributes to the efficiency of the process, whether its increasing adoption of current customers, selling to additional departments, or doing tailored campaigns to sell to prospects.
If marketing and business goals are to secure new logos, then that is where you should focus. Once you have enough customers, you can decide to start looking at cross selling. Remember: you’re not trying to cross sell to everyone, as not all clients are relevant.
ABM isn’t the only solution for all marketing challenges, but if you’re looking for a targeted approach to reach your marketing and business goals, look through the lens of ABM and see how it can work for you.
To learn if Account Based Marketing is right for your organization, take our ABM Assessment.