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How to kickstart your Account Based Marketing strategy

OSHINE | March 30, 2020 | 677 views


It’s official – studies show that marketers who implement account based marketing generate 200% more revenue in their efforts than those who don’t. In fact, 84% of B2B marketers have bought into this vision and believe that ABM delivers higher ROI than any other marketing strategy.

But what makes it crucial for B2B success you ask? Well, ABM is highly useful for organizations with multiple stakeholders or buyers. It’s not just about personalizing your brand messages and targeting multiple decision-makers at every touch point, but doing that at scale. A senior marketing manager at Hubspot says,“It is to address the needs of an organization by connecting with all of the stakeholders within it. That's one reason why it works so well in B2B -- oftentimes you have to work with five or more stakeholders in a given sale.”

While account based marketing has been around for a few years, it still feels like a relatively new concept and marketers are still trying to perfect their strategies for ABM. In this article, we’ll take you back to the basics, walk you through some examples, strategies, tactics backed by data and top marketers in the B2B space, so you’re ready to bring your A-game.

Quick Links:
- What is account based marketing?
- B2B account based marketing
- Some sure-fire account based marketing strategies with examples
-Identifying your target
-Researching your accounts
-Tailoring content to resonate with your prospects
- Finding the best channels for your campaigns
-Running your campaigns
-Measure and evaluate your results
- Some real-life examples of account based marketing
- Account based marketing best practices

What is account based marketing?

Account based marketing, in its simplest, is a business strategy used to focus on a set of high-quality target accounts instead of a lot of weak accounts. This strategy allows marketers to identify and target the accounts/decision-makers/individuals that they value most. In short, high-value accounts/prospects are identified, key stakeholders in these businesses are targeted, then marketing strategies are implemented through various channels to appeal to their specific personas and needs.

I believe ABM is B2B. Most companies are still focused on top of the funnel. Mature and forward thinking CMOs are starting to help their sales team win more and faster by focusing on pipeline velocity and expansion deals.

-Sangram Vajre, Co-Founder and Chief Evangelist, Terminus

B2B account based marketing

Believe it or not, half of the account based marketing programs are still in their early years and only 17% of those programs have been running for three years.
So, if you’re one of those marketers who just launched their ABM, don’t worry about having missed an opportunity.

As we know, there are a hundred different ways to execute an account based marketing strategy based on your business requirements. Although experts would argue that some companies think they’re doing ABMwhen really they’re just focusing on one element of ABM.According to ITSMA, a wining ABM program constitutes a mix of several best strategies, practices, and technologies; its core principles include:

  • Strategic focus on improving business reputation, relationships, and revenue (if it’s just about lead gen, it’s not ABM!)

  • Tight partnership and integration with sales (if there isn’t active, ongoing collaboration throughout the lifecycle, it isn’t ABM!)

  • Tailored and personalized programs and campaigns based on deep customer insight (if customers get the same experience and inside-out messaging, it’s not ABM!)


While it may seem a little tricky to get a head-start, once you have your strategies in place the results can be truly rewarding.

Some sure-fire account based marketing strategies


Since our goal is to target all the decision-makers within the same organization, your ABM campaign must be designed to resonate with these specific people.
Before you start to implement your ABM strategy, there are three key foundations that your teams need to agree on:
• Purpose of your ABM program
• Accounts you are targeting
• Prospects within those accounts that you’re targeting

Identifying your target

Finding and identifying your target is the first step; which does not mean developing and targeting personas. You’ll be focusing on organizations instead.

Identifying your target should be a collaborative effort between sales and marketing. Since it requires data from both the teams – you have to look at firmographicdata(used to categorize organizations, such as geographic area, number of clients, type of organization, industry, technologies used, etc.) and technographic data, as well as strategic factors like market influence, likelihood of repeat purchase, and expected profit margin.

Researching your accounts


Once you’ve identified your target, dive-in to do a deep research to find out additional information and representation of your ideal business customer. Having an idea of the company structure, who the key players are can give you a clear direction of how you’re going to create the appeal for your products or services to those targets. What would make this even better is if you know the influencers and decision-makers in that organization.

Some simple steps like manual research on LinkedIn is a great way to uncover that data. For example, you can do an advanced people search to find out more about your targets. Below is an example by Hubspot for finding out your target through an advanced search on LinkedIn.




 

DECK 7 identifies new prospects who could convert as a customer by analyzing their insights through interactions and engagements on social media, digital media or through their form fills, whitepaper downloads, etc. Some of the visitors could have downloaded their whitepaper through an email that was sent to them through their marketing or sales teams. Or they might have visited a blog or landing page through DECK 7’s newsletter, ONDECK in which case DECK 7 retargets them. This gives the company insights about the intent of their target audience and helps them plan their messaging.

Tailoring content to resonate with your prospects

Your next step should be to collaborate with the design and sales teams to create hyper-personalized, valuable content, that’s visually compelling and communicates the right messaging at the right time. Have your content centered around these key parameters:
• Personalize sales enablement content
• Wow them with your solution
• Establish your expertise, personality, and appeal
• Keep them involved, consuming your ideas and engaging with your brand, and
• Invite them to stay connected so they can become customers

Remember that the beauty of ABM lies in personalizing your content towards these accounts, so, make sure that your brand messaging speaks to their specific pain points. Your content and imagery should also serve as solutions to their challenges and business needs.

Learn more:

https://channel.report/c-suite-on-deck-uberflip-randy-frisch

Finding the best channels for your campaigns


To strike the right chord with your target prospects you must utilize the best channel for your messages. Some of the most effective channels that DECK 7 uses include:
• Social
• Email
• Web
• Search
• Mobile

Social media platforms like LinkedIn and Facebook are some of the best in letting you run your campaign and customizing them according to your business needs. You can appeal to specific organizations as well as the titles within those organizations. Use Facebook’s demographics filters for seeking out your targets or even take it to the next level by targeting their specific job title.

Learn more:

https://business.linkedin.com/marketing-solutions/ad-targeting/account-targeting

Running your campaigns


An important step to keep in mind would be to not let your content run wild. Since ABM programs are so targeted/personalized in nature you need to be careful as to not overwhelm your target with the same messages over and over again. Hence concentrate on catching your prospects’ attention without turning them away.

Measure and evaluate your results

After your ABM program has been running for a period of 30-60 days, it’s time to evaluate whether it was a success or a failure. It is reported that about 60% of CMOs have trouble proving their ROI. A lot of it has to do with not asking the right questions while measuring results. According to Wordstream, some of the critical questions you need to ask are:

• Whetheryour personalized content proved to be engaging? If so, how?
• Are the accounts becoming more engaged with your brand?
• Are you expanding the number of known stakeholders within these organizations?
• Did you move any of these targeted leads down the funnel?
• Did you generate any revenue from these campaigns?
• What could you do better going forward?

Some real life examples of account based marketing

“Pizza-nars”


Webinars accompanied by a pizza! The concept is pretty simple and straight forward – a pizza is delivered to the target accounts, so they can enjoy it while attending your webinar.

But it doesn’t have to be pizza. Lunch and earns can be done with anything from any beverage to food item of their choice, so, you can enjoy the experience with your prospects from the comfort of your desks. This helps to boost webinar attendance and is a great way to encourage prospects to pay attention.

This approach is useful across the account lifecycle from initial engagement to upcoming renewals, expansion or even re-engage at-risk accounts. You could even go so far as to build out personalized webinar experiences with customized landing pages so the prospect or customer feels as if the webinar is hosted just for them – which can be a great way to show off product updates or educate people on your platform.

Content experience


Snowflake, a cloud-based data-warehousing company, leveraged its in-house expertise to develop a robust library of high-quality content, which they use to create individualized experiences for target accounts. At any given time, the Snowflake team is running 500 concurrent individualized account-based campaigns, and each of these 1-to-1 campaigns is developed in tandem with their sales reps (who know their accounts inside and out) to create personalized messaging and content experiences.

These content experiences aren’t intended to drive conversions, either. None of the customized content is gated. Instead, Snowflake strives to build credibility with its audience first, only then using retargeting tactics with those that engage to drive traditional conversions through weekly demos or free trials.

Each campaign can be launched quickly and starts with digital advertising as a means to distribute the experience to the right account depending on where they are in their lifecycle. You can run the same or similar campaigns by leveraging a platform like Uberflip in tandem with your advertising and marketing automation platforms.

This approach is most useful when trying to gain initial engagement or progressing an account to meaningful engagement. It can also be used in a Land and Expand strategy to penetrate other departments within the organization.

Account based marketing best practices

To make your ABM program a success, you need to align your sales and marketing teams. Oftentimes it is this discrepancy, which, if not addressed, ends up causing a lot of loopholes and miscommunication.

 

Sales and marketing have to be best friends, they have to be fully aligned with each other, and they have to know what each other is doing at all times so they can partner. Companies that don’t do that cause themselves a lot of heartache.

-Erik Charles, Vice President and Solutions Evangelist, Xactly Corp.


Marketing has traditionally had a lead-centric focus, which is pretty much the opposite of their counterparts in Sales, who have always had an account-centric approach

– This statement reveals the real disconnect between how most companies and marketing teams build their ABM.

You must personalize content at scale.

This is the heart and soul of every B2B account based marketing. The main goal of content personalization is to fit target accounts like a glove. And while executing personalized content at scale is challenging, it is also the most rewarding when done right. Thankfully, B2B marketers are getting better at that.

Conclusion

Whether or not you’ve tried to implement a full-blown ABM program, chances are you’ve most likely used at least one element of it in your marketing endeavors. And that’s a great start. The key thing to remember is to be clear about what you’re trying to achieve with your ABM program and how well co-ordinated your teams are.

Spotlight

Dialog Insight

Since 1999, Dialog Insight has been designing personalized relationship marketing solutions for email marketing, marketing automation, customer acquisition as well as for mobile marketing and customer data analysis in order to increase the efficiency of multichannel marketing campaigns. Our clients include Desjardins, L'Occitane, Estée Lauder, Metro, Transat, TD, Cascades, La Presse, CAA, Cossette and Ricardo Media

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StackAdapt Partners with Lead Forensics to Expand Its ABM Targeting and Measurement Capabilities in EMEA and Canada

Business Wire | October 04, 2023

StackAdapt (www.stackadapt.com), the leading self-serve programmatic advertising platform, has partnered with Lead Forensics, the world’s No. 1 B2B website visitor identification software, to expand StackAdapt’s latest ABM Targeting and Measurement solution. This integration empowers B2B marketers and ad agencies seeking to reach highly specific audiences within EMEA and Canada in addition to the company’s existing targeting capabilities for the US. Key Benefits for B2B Marketers and Advertisers: Expanded Market Reach: B2B marketers can now extend their reach beyond the US and tap into new markets in EMEA and Canada targeting a broader audience and potential customers. Relevant Targeting: This expansion ensures that ad campaigns are relevant and resonate with the right audience. Measurable Impact: With highly accurate measurement capabilities, B2B marketers can assess the performance of their campaigns and make data-driven decisions to optimize results, leading to higher ROI and more effective marketing efforts. Frictionless Campaign Management: The self-serve solution offers easy-to-use features for campaign creation and reporting, saving time and resources for B2B marketers and streamlining their advertising process. Low-Risk Testing: The solution allows for quick campaign activation without contractual minimums, giving B2B marketers the confidence to experiment and learn, leading to improved strategies and successful outcomes in the long run. “We’re delighted to partner with StackAdapt,” said Chris Murray, Vice President of Partnerships at Lead Forensics. “We know how powerful our data is and we look forward to working with StackAdapt to help businesses connect, engage, and succeed like never before.” Agent3 is a global ABM agency focused on delivering hyper-targeted campaigns for its clients. As a StackAdapt partner, it was one of the first to harness the power of Lead Forensics' IP data. This collaboration extends our ability to offer increased reliability, visibility and scale in EMEA and Canada, as well as complimenting and expanding the reach provided by many of our customers' existing pure-play ABM platforms across the US, explained Daniel Sands, Chief Innovation Officer and Partner at Agent3. “With precise audience targeting via StackAdapt, combined with the ability to measure campaign impact with pinpoint accuracy, our agency was able to achieve really great scale and performance metrics. We were particularly impressed from an account attribution perspective and the data we were able to capture about the companies we had reached. This partnership represents a significant milestone in our ability to deliver outstanding results for our clients." "The ability to provide ABM measurement in EMEA and North America is a unique delivery for our platform compared to competitors, and we are thrilled to provide this offering thanks to our partnership with Lead Forensics,” said Michael Shang, Vice President of Partnerships and Business Solutions at StackAdapt. "This collaboration allows us to provide a comprehensive self-serve solution that caters to the evolving needs of B2B marketers and advertisers seeking to make a measurable impact." StackAdapt provides easy access to its platform with no monthly minimum commitment, including for ABM targeting. For B2B marketers, StackAdapt utilizes programmatic to deliver an increase in leads and sales to meet growth requirements and build a long-term sustainable funnel. For more information, visit www.stackadapt.com. About Lead Forensics Lead Forensics is the world's #1 B2B website visitor identification software. Trusted by 60,000+ customers, Lead Forensics owns the world’s largest database of business IP addresses, enabling you to identify B2B website visitors, access contact information for key decision-makers, and get detailed website analytics. Lead Forensics has been named as one of the 100 Best Global Software companies and the software has also been named in the world’s Top 25 Best Software Products by G2. For further information, visit www.leadforensics.com About StackAdapt StackAdapt is a self-serve programmatic advertising platform used by hundreds of brands and agencies around the world. StackAdapt’s data-driven platform combines state-of-the-art machine learning with a clean and intuitive user interface to provide media buyers with an easy way to plan, execute and drive the best performance across all devices, inventory, and publishing partners. StackAdapt has been recognized as one of the fastest-growing technology companies in North America, is rated the number 1 demand-side platform (DSP) on G2, and is the highest performing and easiest to use platform. For further information, visit www.stackadapt.com.

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Core ABM

95% of Tech Marketers Expect an Increase in their ABM Budgets Over the Next Year

GlobeNewswire | September 29, 2023

Foundry (an IDG, Inc. company) released its third annual 2023 ABM and Intent Benchmarking Study today, which dives into the uses, goals, and challenges of account-based marketing, as well as how intent data is used to fuel ABM programs and the success and challenges tech marketers see with intent. Account-based marketing has taken the B2B marketing world by storm, and the enthusiasm shows no signs of slowing down. In fact, this year’s research found that 96% of tech marketers have a documented ABM strategy and 93% feel that their ABM efforts have been extremely or very successful, which is up from 84% when the study was conducted last year. Here is a closer look at some of the findings from this year’s study: Tactics and tools supporting ABM The landscape for account-based marketing expansion looks promising, as an overwhelming 95% of marketers anticipate that their ABM budgets will increase in the next 12 months. This is a notable uptick from previous years – 90% expected an increase in 2022 and 84% in 2021. Respondents to the survey are using a variety of ABM tactics to support their marketing objectives. These tactics include sales activation/account analytics (cited by 53% of respondents), target-account lead generation (50%), account-based advertising (48%), and content syndication, IP address intelligence, and personalization, all of which are equally cited at 47%. Marketers are also leveraging a mix of tools and channels to support their ABM efforts. Customer marketing (43%) and paid social (40%) are the most widely used resources, followed by content syndication (32%), organic social (28%), and SEO (26%). When it comes to measuring the success of ABM initiatives, marketers use a diverse range of metrics. The top three include customer satisfaction scores (cited by 48%), site visits from target accounts (43%), and revenue generated (40%). Intent data is fueling ABM efforts Another key component of Foundry’s study is the use of intent data with ABM marketers. The research shows that 91% are using intent data/scoring to prioritize their accounts and to identify what content should be served within ABM campaigns. Intent data also plays a key role in identifying target account lists, a practice used by yet another 91% of marketers. Marketers have also extended their use of intent data and are increasing the number of sources they are using, cited by 92%. When it comes to the primary goals of using intent data, marketers are focused on optimizing lead scoring models (cited by 47% of respondents), followed by building audience segments for ad campaigns (43%), identifying new accounts (43%), generating higher quality leads (42%), and monitoring potential customer churn (42%). The goal of any ABM campaign is to generate qualified leads and the survey results indicate a strong correlation between the number of data sources used and lead gen success. About 48% of all marketers said between 11% and 50% of the leads generated from their marketing campaigns become sales-accepted leads and 47% said 51% and 80% are sales-accepted. The challenges ABM marketers face Success isn’t always the case when it comes to marketers and their ABM programs. Only 1% said they don’t experience any challenges with ABM, and the top reported challenges are measuring the success of their programs (35%), attributing the success of the different ABM tactics and channels (34%), and their tech stack being overly complicated (29%). The same sentiment goes for intent. Marketers need help with intent data, specifically with getting their sales teams to trust the intent data quality (49%), measuring the impact of intent data on pipeline (48%), and combining intent from multiple data sources (47%). Ninety-two percent of marketers also cited that it’s important that they know the exact sources of intent data when working with a provider. Just over half of respondents listed criteria for when they chose a data provider, such as: vendor reviews/analyst evaluations (rated as very or somewhat important by 97%), sample data that can be independently validated (97%), and peer recommendations (95%). This research indicates that even as ABM and intent have come mainstream in B2B, marketers are now, more than ever, focused towards measuring the impact of both ABM campaigns and intent data, said Tukan Das, Vice President and Product Manager, Foundry. For more information and to see the full results from the ABM & Intent Benchmarking study, please view the white paper. About the 2023 ABM & Intent Benchmarking Study The 2023 Foundry Account-Based Marketing (ABM) and Intent Benchmarking Study was conducted via online questionnaire in August of 2023. 500 total respondents with marketing titles were collected from NA (60%), EMEA (20%) and APAC (20%) regions. 40% of respondents are from the manufacturing (computer-related) industry, 27% are from high tech, and 12% from software/computer services. Others include e-commerce, independent software vendors, telecom carriers, and cloud & DC service providers. Foundry conducted the study to understand the workings of ABM and its evolution and adoption compared to traditional marketing approaches. About Foundry, an IDG Inc. Company Foundry helps companies bring their visions to reality through a combination of media, marketing technologies, and proprietary data on a global scale. Our intent data and martech platforms are powered by data from an owned and operated ecosystem of global editorial brands, awards, and events, all engineered and integrated to drive marketing campaigns for technology companies. Foundry is dedicated to generating and innovating with data, driving demand for technology marketers with 38 offices in global markets. Foundry is a wholly owned subsidiary of International Data Group, Inc. (IDG), the world’s leading tech media, data, research, and marketing services company. To learn more about Foundry, visit www.foundryco.com.

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ABM Accounts

Madison Logic Launches ABM Connected TV to Unify Account-Based Marketing with Enhanced Targeting and Revenue Impact Visibility

PRWeb | September 27, 2023

Madison Logic, the leading global digital Account-Based Marketing (ABM) platform, today announced the launch of ABM Connected TV (ABM CTV), a new digital channel that harnesses the company's industry-leading data-driven approach to more precisely target and surround buyers wherever they are. By combining the precision and power of ABM with the reach and scale of television, B2B marketers drive more awareness and higher engagement from pipeline to revenue with ABM Connected TV as part of their multi-channel, account-based approach. The B2B buying process has evolved over the last few years making it more difficult for marketers to engage target accounts. Purchase decisions for complex B2B solutions include more committee members, take more time, and are driven by more independent digital research. Gartner suggests sales reps only have 5% of a customer's time during their B2B buying journey, leaving it up to marketing teams to tell the solution story through content and messaging that speaks directly to the buying committee needs. As more buyers work from home and utilize digital channels for a self-driven buying experience, Connected TV (CTV)—which includes Smart TV's and other devices that allow brands to reach their audiences through internet targeting—helps surround key decision-makers with content and messaging. "Buyers today are harder to reach than ever before; marketers can no longer risk focusing on individual channels to succeed," said Tom O'Regan, CEO of Madison Logic. "With superior targeting capabilities fueled by our industry-leading intent data, we empower marketers to identify in-market accounts, drive higher awareness, and ultimately maximize their media investment by engaging buyers through a unified approach that now adds CTV to their multi-channel ABM strategy. This is an exciting new chapter for Madison Logic as we continue to innovate and shape the future of B2B marketing." Enterprise marketers leveraging CTV as part of a data-driven, multi-channel ABM strategy accelerate the buying journey from awareness to demand conversion by reaching accounts faster with multiple touchpoints. Madison Logic ABM Connected TV benefits include: Enhanced Targeting: Directly target in-market account prospects, ensuring messaging is seen by the right audience on CTV. Unified Activation: Amplify an existing multichannel ABM approach by adding CTV to surround prospects through the centralized ML Platform. Clear Measurement: Track the performance of every dollar spent, linking CTV media investment to pipeline growth and revenue impact. Madison Logic has made CTV an exciting and measurable part of our unified ABM marketing strategy, said Maggie Galster, Global Marketing Automation & Paid Media Manager at Schneider Electric. "We can now seamlessly target prospects on CTV as part of our multi-channel ABM campaigns. The ability to target accounts at a granular level with tracking of engagement and performance on a single platform makes it easier to visualize the impact of our cross-channel ABM approach. We're seeing increased account engagement from the organizations we've targeted with CTV as part of our multi-channel campaign." Madison Logic is the only ABM solution to unify the four primary B2B channels—content syndication, display advertising, social advertising with LinkedIn, and now CTV—into a centralized platform that enables enterprise B2B marketers to activate multi-channel ABM campaigns and achieve comprehensive visibility into program performance. Leveraging ML Insights, which combines three independent signals into a single intent score, marketers more easily determine which accounts to engage, the key personas within these accounts, and the content most likely to drive account engagement and pipeline impact. Through a more targeted data-driven, multi-channel ABM approach with Madison Logic, marketers report a 32% lift in engagement, a 28% faster sales cycle, and a 17% increase in pipeline. About Madison Logic The ML Platform, a global multi-channel ABM activation and measurement platform, enables enterprise organizations to leverage a proprietary combined data set to identify the accounts most likely to purchase, accelerate the customer journey, and shorten sales cycles to positively impact ROI. Madison Logic empowers B2B marketers to convert their best accounts faster by finding and engaging with the most influential individuals throughout the buyer's journey. Visit madisonlogic.com for more information.

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