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Steps for Building an ABM Program like Salesforce

Apurva Pathak | December 18, 2021 | 453 views

ABM_Program_like_Salesforce
Many marketers define ABM as good B2B marketing. Targeting the right accounts at the right time with an appropriate message is the golden aim of account-based marketing (ABM). ABM ensures not only reach but also accuracy.

In an interview with Media 7, Ryan Phelan, Marketing Chief / Fractional CMO at Origin Email, talked about the importance of ABM technology and the challenges in marketing after the COVID-19 pandemic began.

"B2B companies should adopt ABM technology to level up their communications and react quickly."


ABM technology enables marketers to hit pipeline and revenue targets swiftly while working alongside sales teams.

Salesforce provides ABM automation to its clients using AI Einstein technology in their Customer Success Platform. But what does Salesforce’s ABM platform look like? How are they finding accounts that need a sophisticated AI-run ABM marketing platform?


How Salesforce Created Its ABM Program

Salesforce considered B2B buyer behavior (purchase intent and engagement) to deliver a solid marketing and sales experience for each of its strategic accounts. Accordingly, it took the following steps to kick-start its ABM program:


Defining ABM

Salesforce ABM marketing team handles campaigns that target 300 or fewer accounts.

An ABM program can have many approaches. It can be 1: Many, 1: Few, or 1:1. The smaller the radius of the process, the more hyper-focused the campaign, content, budget, and customer journeys are.

By simply aligning their approach strategy with defined ABM, Salesforce achieved larger deal sizes, higher sales win rates, higher ROI, and faster revenue growth compared to other marketing strategies. It suitably approached accounts that it thought were high value and showed buyer intent for their products and services.


Choosing a Suitable Account-based Platform

Salesforce was aware that it would have to engage a variety of vendors and platforms to run its ABM program smoothly. It had to go beyond building a foundation for its program. For that, it needed dedicated tools and resources. Without account-based partners that could provide them with these tools and resources,it would be difficult to implement their program. They chose RollWorks as their account-based partner, to set up their ABM program.


Putting Together a Dedicated Team to Ensure ABM Program’s Success

Creating a single team to support and execute the ABM program was crucial before launching the ABM campaigns Salesforce had planned. They had teams who knew what ABM was all about; they even ran campaigns in silos. So, Salesforce pooled its ABM resources and formed a single team to carry out ABM-related operations.


Identifying Strategic Target Accounts

With the support of technology, Salesforce validated the list of target accounts and filtered out accounts that weren’t such a good fit using their first-party data. They made sure they looked at all the possible data they had, including third-party, so there was no scope for error. As a result, they had a list of high-value accounts with an ideal customer profile (ICP).


Engaging the Target Accounts

After the target accounts were identified, Salesforce ran campaigns of highly customized content for each stage of the sales journey to entice prospects. Once the prospects entered the sales pipeline, hyper-personalized messages, ads, and emailers were sent to them using AI.


Using Data for Continued Engagement

Salesforce ABM campaigns used all available data to create new or repurpose existing content assets like customer stories, consultation forms, research reports, and blog posts to nurture the leads at every stage.


Cultivating Customer Relationships

Using a specially created ABM dashboard, Salesforce monitored its campaign results to understand which content its leads engaged with the most. Then, it removed the content that did not generate engagement to streamline engagement with previous unengaged leads. The secret was to create humane content that didn’t have buzzwords, consistently maintain brand voice and tone, and make special content that the leads could resonate with.

Educating and engaging the leads increased the deal sizes and customer lifetime value. Holistic reporting helped them evolve their ABM strategy continuously.

By creating a robust ABM program that took care of its targeting accounts’ evolving needs, pain points, and expectations, Salesforce saw a 24 percent faster revenue growth and an 87 percent higher ROI.


How Salesforce Got a 30 Percent Close Rate by Using ABM Technology

While promoting their Boston World Tour Series, Salesforce used ABM campaigns to get registrations. One out of their fourtarget accounts engaged with their content, and an average of five contacts per account engaged with them. In six weeks, they got in touch with 410 target accounts, of which 110 engaged with them. They achieved a 30 percent close rate for their campaign.


Creating an ABM Program like Salesforce

Salesforce has come a long way by using ABM technology to expand its offerings. It has AI-powered products, tools, and services that provide ABM automation to other companies. For example, their ABM Salesforce Marketing Cloud product has helped brands like Herman Miller achieve a 200% increase in their email revenue.

To create an effective ABM program like Salesforce, you can use their steps as a blueprint. These steps apply to all kinds of businesses, but if you still don’t know how and where to start, find the answers to the following questions to comprehend what you can do next:

  1. Do you think ABM is right for your business?
  2. Are there any customer accounts that require special attention?
  3. Can your business fund expert consultation for ABM and eventually an ABM program?

Once you find the answers to the above questions, you can take your first step towards building an effective ABM program that can help you scale your business.


Conclusion

ABM technology is revolutionizing B2B marketing by harnessing AI and targeted approaches, personalization, and automation using high-quality intent data. Implementing an effective ABM strategy is crucial to driving ROIs and growth.

FAQ


How does ABM differ from a traditional lead generation marketing strategy?

ABM helps you target high-value accounts with hyper-personalized content, instead of presenting generic content to unclassified accounts.


What is an ABM platform?

An ABM platform is a technology that helps marketers run their ABM programs at scale.

Why is ABM important in your marketing efforts?

With the help of ABM, marketers may be able to shorten their sales cycle, increase their marketing involvement in the sales funnel, and achieve a high ROI.

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A boutique integrated marketing agency driven by results (and chocolate), helping business owners and over-stretched marketing teams in South East England to make the best of their budgets.

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Economy and AI Among Top Concerns Across Industries, According to Bombora’s Upswell Report

EIN News | June 05, 2023

Radical shifts in the global economy and technological advancement have many industries dealing with significant change. As businesses look to navigate the future, they are actively researching business efficiencies, automation, the growth of artificial intelligence, and other tools and strategies that will help them maintain customers and protect revenue, according to a new report from Bombora, the leading provider of B2B Intent data solutions. The Bombora Upswell Report, unveiled at the 2023 Bombora Intent Event in San Diego, leverages Bombora Company Surge® data and dives into the latest trends and developments across eight industries: manufacturing, healthcare, finance, software, cybersecurity, professional services, telecommunications, and media/advertising. Each business vertical is analyzed in depth, with insight into the topics and issues that these businesses are researching as they formulate their business plans for 2023 and beyond. Between Bombora’s Data Co-op of premium B2B publisher partners and the Bombora tag, its identity resolution system and unique data structuring approach allow customers to access the highest quality data in the market. These insights measure changes in research activity to see how businesses are adapting their thinking to new situations. “Businesses across all verticals need high-quality data to help seize emerging opportunities, drive innovation, and ensure their continued growth in an increasingly competitive global market,” said Mark Connon, President of Bombora. “The Upswell Report is the first time we’ve assembled cross-industry analysis so that companies can be aware of the latest trends and developments in their industries and their customers’ markets. We’ll continue to offer businesses of all sizes the data and insights needed to navigate their changing landscapes, through these recurring reports, as well as our industry-leading Intent data and analytics.” For example, the Upswell Report shows the media and advertising industry cooling on the Metaverse. Three key categories–Metaverse Consulting, Corporate Metaverse research, and Metaverse as a Strategy–declined in Q1 2023. However, overall Metaverse research grew by 50% in Q1 2023. So while the Metaverse is still an interesting topic overall, businesses are becoming more cautious about investing in it. The Upswell report also highlights the technologies that matter most to businesses. Within the telecommunications industry, research on SpaceX increased by 8% in late 2022, with nearly 1,500 telecom businesses researching the organization. Compared to a year ago, research related to Low Earth Orbit (LEO) increased by 26% in Q1 2023, a dramatic increase in a short time span. Telecoms are clearly in need of space-related infrastructure for satellites, and there is a huge opportunity here. Meanwhile, the telecom industry has clearly picked a favorite cloud provider, as research around Amazon Web Services (AWS) increased by 287% in Q1 2023, compared to a 72% increase for Microsoft Azure. Additional highlights from the research include: -Manufacturers are focusing on building resilient supply chains, implementing AI and automation solutions to optimize operations, and investing in marketing and brand building as direct-to-consumer sales grow. -The healthcare industry is researching emerging technologies, such as AI automation, remote patient monitoring, and the Internet of Healthcare Things (IoHT) to address major challenges and improve healthcare delivery. -Financial services and banking professionals are focusing on research in areas such as market volatility, pre-bankruptcy planning, and debt management while also investing in long-term wealth preservation strategies. -Software businesses are leveraging tools like ChatGPT, conversational AI, and chatbots to improve operations and customer engagement while also adopting proactive defense strategies against cyber threats. -The cybersecurity industry is staying ahead of the curve by investing in advanced security measures, addressing workforce shortages, and preparing for future risks to protect against cyber threats in the digital age. -Professional services research trends show increased demand for advisory, consulting, and specialized services, while technology investments center around an open architecture, payment processing optimization, and core banking operations. -Telecommunications businesses are exploring investments in infrastructure and innovative services to meet growing customer expectations and capitalize on new revenue opportunities. The media and advertising sector is putting considerable resources into social media marketing, data management, and video advertising, while also focusing on improving customer experience and engagement to retain a loyal customer base. About Bombora Bombora tells businesses which companies are researching their products and services. With this understanding, sales and marketing teams can be more relevant and consistent and improve performance across all activities. This intent-driven approach revolutionizes the way businesses market and sell to other businesses through transparent data built on an ecosystem of quality, collaboration and innovation. With direct integrations with dozens of leading data and media-buying platforms, Bombora is building a world in which business buyers value sales and marketing for its relevance, timeliness and accuracy. To learn more, visit www.bombora.com.

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