A Peek Behind the ABM Curtain

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An ABM Interview with Niraj Deo, Sr. Director, Product Management, Oracle Data Cloud—B2B Products

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Perkuto

For marketing leaders wrestling with revenue growth and proving impact of marketing, Perkuto provides services that map revenue goals to marketing strategy and executes on initiatives that increase marketing and sales team productivity. As a Marketo Platinum Partner, we excel at implementing and integrating MarTech systems into your processes with a high level of expertise and a deep bench of certified consultants.

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How to Stay Ahead in the Great Account-Based Marketing Race

Article | February 28, 2020

This account-based marketing piece is brought to you by Intelligent Demand Senior Marketing Manager & Certified Account-Based Strategist, Paige Montgomery. More and more B2B marketing executives and companies are making the transition from lead-centric to account-centric marketing, because the ROI of an account-based approach has been tried, tested, and proven. ITSMA put it best: “ABM delivers the highest return on investment of any strategic B2B marketing approach. Period.” Let’s face it, account-based marketing (ABM) is no longer a trend to test or even pilot—it’s table stakes in 2020. And thanks, in part, to the surge of account-based thought leadership and marketing technology available, B2B marketers are getting better at ABM by the day, meaning they’re also getting better at creating strategies that engage target accounts and developing effective ways to connect the dots between marketing, sales, and customer success.

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ABM ACCOUNTS

5 Reasons Why Account-Based Marketing Gives Better ROI

Article | February 28, 2020

ROI matters in B2B business. Account-based marketing has reached a significant tipping point and has become an investment that could pay off for the years to come. It is because B2B marketers are achieving substantial results with the help of ABM, and those who haven't started using it yet are planning to implement it. And why not? This type of marketing harnesses the best marketing tactics for creating highly relevant campaigns that positively impact a B2B businesses’ bottom line. Forrester describes ABM as "a strategy by which marketing and sales cooperatively work to pursue, establish, and grow in long-term and engage in revenue-generating relationships with specific accounts." As a result, its study says that 71 percent of companies that invest in ABM report that their return on investment is fairly or significantly higher than traditional marketing programs it used before. Now that the importance of account-based marketing has come into the picture while detailing the reasons why ABM gives a better ROI. It is decisive to know why you should get interested in ABM. Importance of Account-Based Marketing ABM is vital to your marketing strategy because it helps you create a more targeted and effective campaign. In other words, it has the potential to fuel growth for years into your B2B business future and develop stronger relationships with customers who matter most in support of your business objectives. Understand that ABM is more than social media advertising that incorporates traditional marketing methods such as direct mail and email marketing. Similarly, marketing automation is yet another crucial part of ABM. When you automate your ABM, you get qualified leads and prospecting activities. This gives you a competitive advantage over other companies in your industry so that you can get an insight into what your competitors are up to. But, most importantly, you get a higher chance of getting the right prospect to what you offer. In connection to this, here comes an important step to include—creating relevant content. It is because when it comes to ABM, relevance is all that matters. Your offers need to be tailored for qualified prospects, and not all noise will cut through the clutter anymore. A recent Forrester Consulting study by LiveRamp surveyed 312 B2B marketers across six industries found that nearly all marketers said their businesses are committed to using ABM as a revenue-driving strategy in the present time. Similarly, most marketers also reported a high level of confidence by using a wide range of ABM capabilities. Let’s deep dive into five reasons why ABM offers a better return on investment than more traditional methods. Efficient Operations for Sales and Marketing ABM users highlight its role in bringing sales and marketing closer to collaborate on developing and executing sales and marketing strategies. As per Bizible’s research, marketers are now 40 percent more likely to align their strategy with sales because of ABM's strategy. By putting the teams together, sales and marketing can coordinate their outreach and ensure client engagement is conducted high-value and meaningful. Meanwhile, marketers benefit from a streamlined approach that lets them discard a far-and-wide marketing strategy favoring carefully chosen prospects. With having a focus on selected targets rather than scattershot marketing campaigns, marketers can now focus on harmonizing and automating their digital marketing efforts, which makes them ready to work on next-generation demand-gen platforms with the help of AI and machine learning. In this way, they can orchestrate their campaigns and exponentially grow the ROI of your business. This ensures the right account prospects and results in the most significant ROI potential. This automated marketing approach reduces the marketing team workload and saves staff precious time while preserving huge marketing dollars. Thus, more efficient spending and a higher threshold for returns will bring a significant ROI to your business. Master in Multichannel Amid the rush to digital marketing, which is gaining prominence in the current time, the most effective ABM strategy and programs create a balance of online and offline approaches, fully integrated across sales and marketing. In addition, account-based marketing automation saves marketers from making unnecessary costs, so they spend less on marketing while still getting results. Forrester's survey says that the key strengths of dedicated measurement solutions by ABM are the improved ability to track engagement and optimize across online and offline channels. This is so marketers can manage the frequency of engagement as well as precisely determine attribution. A Personalized Approach Personalization makes ABM so appealing to clients. ABM has a way of turning attention to detail, so it immediately gets a client’s interest. To be true, the marketing and sales teams have to be competent in conducting in-depth research of potential leads. When it’s done accurately, they will target clients based on their likelihood of converting, then develop personalized offers to get good results. For this, you have to keep a separate ROI of account-based marketing at the same level. When you have such a narrow focus, you get a chance to communicate with the specific prospect and craft a better offer for them. By providing a personalized approach, you have a high chance to see increased ROI of your business. Manage, Monitor Data Governance and Privacy Maintaining the privacy of prospect data is crucial for B2B organizations. In today’s time, where the lines between B2B and B2C marketing are increasingly blurred, applying strict governance policies over the use of prospect data is a must. In addition, people expect brands to respect privacy preferences and actively work to build trust. Every dollar counts in a crisis. But almost one-third of marketing professionals are still planning to increase their investments towards ABM in the next calendar year. Moreover, decision-makers expect those investments in digital to yield substantial business benefits; the pressure to deliver is higher than ever. So, to have an actual ROI of account-based marketing is equally crucial to enjoying a significant revenue of your business. ABM Encourages to Measure Performance By integrating ABM strategy and account-based marketing automation, marketers can identify and reinforce the most effective strategies to measure the performance of marketing efforts that exclusively depends on ROI generation. It’s easy to measure acumens when you have highly focused accounts and well-sorted campaigns. You need to perceive what content approach gains traction and what attempts fail to succeed. In a nutshell, when the businesses are identified, an account-based approach will offer precisely what a business needs; this will help your business gain maximum ROI. So, plan now for an account-centric marketing future. Your team can accelerate deliver strong business ROI out of account-based marketing automation programs by considering a cross-channel B2B business solution that can help fill capability gaps and evidently prove the worth of your ABM marketing efforts. Frequently Asked Questions How effective is ABM for generating ROI? When it comes to increasing the ROI of business, ABM helps drastically. It aligns sales and marketing teams to work together, which generates a positive ROI and increases revenue. In this, 60% of companies that use ABM experienced a revenue increase of at least 10% within a year, while one out of five companies experienced a 30% and more rise in revenue. What is a good ROI percentage for ABM? A good ROI percentage for ABM stands at 5:1, which is considered the middle of the curve. A ratio over 5:1 is considered robust for most businesses, whereas a 10:1 ratio is exceptional. What are the top 3 reasons to choose ABM marketing? The top three reasons are: To reach the right prospect that matters according to business To gain a competitive advantage ABM shortens long sales cycles { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "How effective is ABM for generating ROI?", "acceptedAnswer": { "@type": "Answer", "text": "When it comes to increasing the ROI of business, ABM helps drastically. It aligns sales and marketing teams to work together, which generates a positive ROI and increases revenue. In this, 60% of companies that use ABM experienced a revenue increase of at least 10% within a year, while one out of five companies experienced a 30% and more rise in revenue." } },{ "@type": "Question", "name": "What is a good ROI percentage for ABM?", "acceptedAnswer": { "@type": "Answer", "text": "A good ROI percentage for ABM stands at 5:1, which is considered the middle of the curve. A ratio over 5:1 is considered robust for most businesses, whereas a 10:1 ratio is exceptional." } },{ "@type": "Question", "name": "What are the top 3 reasons to choose ABM marketing?", "acceptedAnswer": { "@type": "Answer", "text": "The top three reasons are: To reach the right prospect that matters according to business To gain a competitive advantage ABM shortens long sales cycles" } }] }

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CORE ABM

6 Hard-hitting Lessons for ABM Strategy

Article | February 28, 2020

Account-based marketing has gained momentum incredibly in the B2B industry. ABM promises a higher conversion rate than any other marketing strategy. It is the best personal approach to B2B marketing. If you are new to ABM, here is a little introduction to the strategy. ABM is creating a funnel of your clients and filtering the ones who have higher chances of conversion. Once you have the required data, your sales and marketing team can collaborate to create marketing campaigns for these exclusive clients. This strategy can overcome many challenges faced by the marketing and sales team. Generally, the challenges faced by your businesses can be to Drive retention with the key accounts Deliver relevant content to exclusive customers Boost conversion percentage with the clients most likely to convert Build a strategy for a personalized marketing approach Once you know what ABM is and implement it correctly, your business can easily overcome these challenges. Thus, we have provided some insights on how to overcome hurdles and excel in your ABM campaign. How to Excel in Your ABM Campaign According to B2B data-driven companies, personalization is the biggest challenge to succeed in ABM. Nowadays, B2B clients demand personalization like B2C clients. Now, this is a difficult task as business clients have access to business profiles. Thus, the sales and marketing teams have to develop unique ideas and make extra efforts to personalize campaigns. So basically, this means utilizing the available data in the best way possible. But sometimes, that takes up a massive investment in terms of time and resources. Abhi Yadav, Founder & CTO of Zylotech, says, “Drawing intelligence from data is like pushing a boulder uphill. In most cases, it takes a team of data engineers & scientists an enormous amount of time that comes with a hefty price tag.” So how do you minimize efforts and still excel in your ABM campaign strategy? Well, we have six lessons that organizations have learned while implementing ABM in their marketing strategy. Some of these lessons are answers to why a particular strategy failed. Put Yourself in Your Customer’s Shoes If you have limited access to personal data but have plenty of professional data, put it to the correct use. Put yourself in your customer’s shoes and look at the challenges they are facing at present. You can also think about their future problems and provide solutions to avoid them. Once you think like your customers, strategies and solutions become a simple task. For example, if your targeted client is the MD or CFO of a healthcare sector. Determine how the pandemic has impacted their revenues or how they need to manage personal and government financing in these challenging times. Also, you can provide visionary solutions about future implementations for the healthcare sector. Flip the Funnel The traditional funnel of awareness, interest, consideration, and purchase needs to change. The implementation may work even today, but the conversion process takes time. Thus, it’s time to flip the funnel. Flipping the funnel is the new strategy that is uprooting the traditional funnel. This method implies putting targeted organizations on the top of the funnel and then broadening it. First, it means to target the people of the organizations, then ways to connect them, and then the broadest part is to provide them with appropriate solutions. This funnel strategy has proved to work wonders in the ABM strategy. Personify is the leading constituent management and engagement (CME) platform. Their challenge was to create a funnel for better insights into their target market. Their solution was to partner with product marketing and sales for an ideal customer profile (ICP). Thus the top of the funnel was sorted. Then they researched and set up personalized digital ad campaigns and sales strategies. Thus, these creative campaigns increased their brand awareness, engagement, and conversions. They increased their on-site visitors by 39 times by implementing this strategy. Make the Best Use of Technology There are a plethora of tools available to strategize and implement ABM. But organizations do not make full use of these tools, leading to wastage of time, resources, and resources. Survey the market and know there are tools developed to optimize ABM strategy and keep track of account-based metrics. Implement these tools, and you will notice that your work gets executed faster and in an intelligent way. P.S. Human-assisted AI technologies help organizations to build compelling campaigns and optimize revenue operations. Streamline Your Processes Sometimes organizations do not realize that ABM requires streamlining processes with the regular ones. ABM strategies require experimentation. You have to select the strategy that suits you and your organization in the best way. Thus, ensure that your teams do not get overwhelmed by the process. Thus, define roles, responsibilities, and the entire execution plan when the target accounts are shortlisted. VersionOne, a cloud-based agile application life-cycle management (ALM) software provider, simplified the process by implementing data-driven approaches. Thus, VersionOne gave both teams access to monitor the ABM strategy and the success of the targeted accounts. Thus both the teams worked in collaboration and focused on segmentation. This helped in building a proper pipeline between the sales and marketing teams. This doubled VersionOne’s sales by streamlining the processes between the sales and marketing teams. Focus On Retention ABM is not only targeting exclusive clients and converting them. But you have to track and retain them. Many a time clients convert and the organization forgets to follow up. Thus, it creates a void for current and future clients, as the success rate is incredibly defined by retention. For example, small gestures like regular surveys, emails regarding workflow, and more can play an essential role for the clients to know that you care. Do Not Refrain from Outsourcing Outsourcing is a great way to ease out tasks and get a filtered list of high-value clients. Also, companies that specialize in data-driven technologies can provide you with more relevant information about the clients than your in-house team. So, avail services from experienced companies and industry leaders in providing you with the best list of relevant clients. These professional organizations know the pain-point of the clients, which helps you in planning your ABM strategy. That’s All Folks We hope we have provided you with solutions to the hurdles that you face while strategizing ABM. Remember, ABM strategy cannot be mastered overnight. So set goals, implement ABM, learn from the results and repeat- it is that simple! Frequently Asked Questions Which is the best way to succeed in ABM? The key idea is to focus on the personalization and retention of the clients. Your ABM strategy is likely to succeed if you provide personalized solutions to your exclusive clients. Success in your ABM strategy depends on your team, your account-based marketing campaigns, and the level of experimentation you do. Is it okay to outsource for account-based marketing? If your organization does not want to invest the time, resources, and technology required for ABM, it is good to outsource it. These third-party organizations can help you provide you with a list of the best clients and their information. How important is ABM strategy? ABM is an essential strategy as it helps to shorten the sales process and increases the conversion rate. In addition, it helps an organization concentrate on the most exclusive clients and retain them, thus generating better revenue and ROI. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "Which is the best way to succeed in ABM?", "acceptedAnswer": { "@type": "Answer", "text": "The key idea is to focus on the personalization and retention of the clients. Your ABM strategy is likely to succeed if you provide personalized solutions to your exclusive clients. Success in your ABM strategy depends on your team, your account-based marketing campaigns, and the level of experimentation you do." } },{ "@type": "Question", "name": "Is it okay to outsource for account-based marketing?", "acceptedAnswer": { "@type": "Answer", "text": "If your organization does not want to invest the time, resources, and technology required for ABM, it is good to outsource it. These third-party organizations can help you provide you with a list of the best clients and their information." } },{ "@type": "Question", "name": "How important is ABM strategy?", "acceptedAnswer": { "@type": "Answer", "text": "ABM is an essential strategy as it helps to shorten the sales process and increases the conversion rate. In addition, it helps an organization concentrate on the most exclusive clients and retain them, thus generating better revenue and ROI." } }] }

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Account Based Marketing: 3 Ways an ABM Approach Pays Off

Article | February 28, 2020

While account-based marketing (ABM) is nothing new, B2B marketers now have more data and better tools than they had in the past to identify high value accounts, drive greater targeting and personalization of campaigns and attribute, and measure performance. An increasing number of marketers consider ABM a foundational component of their demand arsenal. In fact, according to Sirius Decisions, 92% of B2B marketers consider ABM “extremely” or “very” important to their marketing effort.

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Spotlight

Perkuto

For marketing leaders wrestling with revenue growth and proving impact of marketing, Perkuto provides services that map revenue goals to marketing strategy and executes on initiatives that increase marketing and sales team productivity. As a Marketo Platinum Partner, we excel at implementing and integrating MarTech systems into your processes with a high level of expertise and a deep bench of certified consultants.

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