[Webinar] RollWorks & Drift: The ABCs of ABM
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You decide to add account-based marketing to your existing demand gen marketing strategy. You have the budget for it and you’ve even pulled together a few lists of great accounts to target. You set up a few amazing, hyper-targeted campaigns, send them out into the world, and… …nothing happens. Well, technically something happens: you lose your budget. It’s not your fault. You targeted some awesome accounts. The problem is they weren’t the right accounts for your business. So we’ve brought together Mark Kilens (VP, Content and Community, Drift) and Ali Biggs (Director, Brand & Product Marketing, RollWorks) to show you how to make sure your ABM strategy is targeting the right accounts and generating serious ROI. Join these two seasoned marketing pros for a one-hour, LIVE webinar and learn how to: -Create an ideal customer profile (ICP) and build a target account list (TAL) for your business -Find and engage your ideal accounts and buyers -Convert the leads that come to your site from your ABM campaigns
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[Webinar] RollWorks & Drift: The ABCs of ABM
- 2. Account-Based Marketing Why it’s so dang popular
- 3. Account-based is the proactive coordination of marketing, sales development, sales, and customer success to close, retain, and grow an organization’s most valuable accounts. TOPO, “The Account-Based Everything Framework” 2016
- 4. 200%Pipeline growth in organizations with an account-based strategy Source: SiriusDecisions
- 5. 20%Increase in average deal size Source: SiriusDecisions
- 6. “Marketing drove 20,000 leads in Q1.” “Marketing drove 10,000 marketing qualified leads in Q1.” “Marketing contributed to $500,000 in revenue in Q1.” “Marketing drove 3,000 sales qualified leads in Q1.” 2013 2015 2017 2019 B2B marketers need to tie their marketing investment to influence on revenue The evolving B2B challenge
- 7. Account-based marketing is just good B2B marketing RollWorks, 2019
- 8. Identify your list Engage & Convert across channels Measure your impact How to ABM
- 9. Identify How to define your ICP and build a winning target account list
- 10. Start with your ideal customer profile (ICP) ● NOT total addressable market (TAM) ● NOT target account list (TAL) ● NOT buyer persona
- 11. What is an ICP? A strategic framework to manage resource allocation & activity across the entire business. + A set of attributes used to describe the companies with the highest value to your business.
- 12. What happens if you don’t have a clearly defined ICP? ● Product builds for a first set of customers ● Marketing markets to a second set of customers ● Sales sells to a third set of customers You lose $
- 13. 68%Higher win rates were reported for organizations with a strong Ideal Customer Profile (ICP) Source: TOPO 2019
- 14. What an ICP does NOT look like Attribute Value Industry B2B Geography English speaking countries Verticals B2B Company size SMB + Mid-Market Company rev All - If they want to pay us, we’ll work with them Technographic Have a marketing automation platform (MAP) AND AND AND AND AND
- 15. What a solid ICP looks like Attribute Value Industry B2B Geography U.S., Canada, UK, Ireland Verticals Investment Banking, Financial Services, Accounting Company size 500 to 5000 employees Company rev $10MM+ Technographic Marketo, HubSpot, Pardot, Mailchimp, Constant Contact, GetResponse AND AND AND AND AND
- 16. Sales funnel data: You already have it, use it. ● What are the shared firmographic and technographic traits of your closed won accounts?
- 18. Contact Selection Find key decision makers. Get contact info for buying committees (and not those in unrelated roles). Advance your account-based strategies. Build and prioritize a target account list. Start by uncovering your ideal customer profile (ICP), then build your target account list, and source vetted contacts at the accounts that matter most Become more account-based. Define or validate your ideal customer profile (ICP) using your existing data. Target Account Selection ICP Insights:
- 19. Create a data-backed target account list
- 20. Acquire contact information for key decision makers to ensure sales & marketing are targeting the same people
- 21. Engage How to reach your target accounts and get them to your website
- 22. Most Commonly Used Account-Based Tactics: 1. SDR outreach 2. Digital advertising 3. Direct mail 4. Email marketing 5. Events TOPO, 2019 Account-Based Benchmark Report
- 23. Engage across multiple channels using your existing data: Digital advertising drives new and return traffic to your site, while also providing air cover for sales outreach and direct mail I have... An ICP A Target Account List Known Key Contacts I can reach them via... Firmographic Targeting Serve ads to employees at companies that match your ICP Account-Based Retargeting Serve ads to the person who visited your site, along with other members of the buying committee Target Account List Targeting Serve ads to employees at a specific list of companies CRM / MAP Targeting Serve personalized ads to contacts based on any field, incl. funnel stage and title Sales Automation Personalized email outreach with triggered follow-up based on engagement Direct Mail High-quality, personalized items to get your sales team in the door and to move a deal forward Retargeting Serve ads to previous website visitors who displayed high intent but did not convert
- 24. ● Transpay utilized RollWorks TAL (target account list) targeting to focus spend on a specific list of high-value companies ● They layered in personalized messaging for the key decision makers at their target accounts Drove engagement at 1/2 the cost ● Transpay was testing and comparing results from multiple ABM platforms ● They sought a vendor who could improve cost- efficiencies for their display campaigns SITUATION SOLUTION ● 50% decrease in cost per visit ● 6.4x increase in average time on site in four weeks RESULTS Transpay is a global payments service that provides businesses of all sizes with a scalable, secure, and fully compliant cross-border mass payout solution, making it easy to send funds directly to the local bank accounts of vendors, business partners, freelancers or others in over 200 countries.
- 25. LiveLive Proposal Onboarding/LiveConsiderationAttract Email MeetingPhone Contract Contact Enters Pipeline DirectMailSalesPlay Email DigitalSupport Door Opener Post-Demo Kit Proposal Kit Welcome Kit How we reach & engage prospects across channelsSiteChat (Drift)
- 26. Convert How to turn target accounts into customers
- 27. A BLUEPRINT TO ALIGN YOUR MARKETING & SALES TEAM’S ABM STRATEGY
- 28. ABM For Target Accounts - Personalized buying experience - Conversations with target accounts on the website
- 29. Route from email to a conversation - Recommend the right content to the right leads. - Route to start a conversation with the account owner.
- 30. THE 5 W’S
- 37. Greeting Question Hey {{account name}} 👋 I see my friend on the team sent you back to check us out! How can I help you find what you're looking for? Answer Options 1. I have a few questions on how my company will be using Drift 2. I'm just taking a look around Bot Responses 1. Happy to help! 2. No problem Value Proposition PS: Like this experience? Imagine giving all of your targeted account this sort of red carpet treatment right on your site. With Drift Intel and Drift ABM, you can personalize your website experience for your VIPs so they feel like VIPs. ENGAGE
- 39. Bot Question 1 I'm here to make sure you get the information you need to help make your decision easier! Even though my team is offline, I can still act as your online concierge to make sure you get all the info you need. What sort of Drift question can I help you with? Answer Options 1 1. Can I get some case studies to show my boss how Drift can help us? 2. Can I schedule some time with my point of contact to bring some co-workers? 3. Can you tell me what kinds of integrations you have? Bot Responses 1 (and paths) 1. Yes absolutely! 2. You bet! 3. Of course I can! UNDERSTAND
- 41. What are the goals of the conversation? 1. Send Case studies that show ROI 2. Book a meeting with their point of contact 3. Send them integration help docs and collateral RECOMMEND
- 43. Area of Opportunity If I can target my accounts based on firmographic information and roll out the red carpet for my high value prospects. I can drive more conversations with my ABM accounts and book more qualified meetings Solution Drift Intel allows NetGuru to give their top tier accounts an amazing experience by sending personalized welcome messages to those visitors and notifying their reps when those accounts are live on their website. Result In only ten months, Radek and the Netguru team have… ● Had 10,000+ conversations ● Generated 150 CQLs per month ● Guided prospects to relevant content over 450,000 times ● Generated 2 net new enterprise opportunities ● Closed $250k in revenue from those two opportunities
- 44. Area of Opportunity idea of using Drift stemmed from adding real-time messaging to their site to engage with their visitors and get them the answers they were looking for as quickly as possible. They wanted to be able to know when their target accounts were on their site and engage them with an amazing, personalized experience that would differentiate Aventri from their competitors. Solution Drift ABM allows Aventri to roll out the red carpet and send personalized welcome messages to their high-value target accounts. Result In less than five months, the Aventri team have… ● Decreased response time from 1:30 to 0:50 ● 270% increase in lead conversion ● 20% increase in meetings booked month-over-month ● $6M in pipeline created ● $1.7M closed won
Notas del editor
- In the description for this webinar, we promised quite a bit: from making sure you’re targeting the right audience to actually finding them and getting them to engage with you to converting them once they’ve made their way to your website Mark and I are going to keep this pretty conversational throughout and we’ll be sharing not just best practices, but how we’re personally doing these things at RollWorks and Drift and where some of our customers have seen success. Before we dive in, let’s talk about ABM for a minute, just in case all of our companies haven’t already indoctrinated you on our personal definitions of what ABM is and why you neeeed it.
- TOPO defines account-based rather simply… “Account-based is the proactive coordination of marketing, sales development, sales, and customer success to close, retain, and grow an organization’s most valuable accounts.” Most valuable accounts. We’ll come back to that in a second.
- It’s worth noting that account-based marketing is not just a buzzword any more, as marketers are seeing real results by moving from a lead-based to an account-based approach, reaching across the aisle to partner more closely with their sales counterparts not just on lead hand-offs, but following those leads to opportunities and throughout the pipeline. According to SiriusDecisions, companies that implement an account-based focus are seeing: 200% pipeline growth 20% increase in average deal size
- So the proof is in the pudding. This move to account-based means that marketers are shifting their focus from leads to pipeline to revenue impact, which can be a daunting proposition. However, it’s all quite simple, when you realize that: Account-based marketing is just good B2B marketing.
- I’ve been saying this for a long time, and some of the analyst firms embrace it as well. Of course we want to target, engage, and convert the best possible accounts for our business. This is not new, and--sneak peek--neither are the tactics that you can use to do so.
- And ABM can be broken down into three key areas: Identify your target accounts, people, etc. Engage those accounts & people in various ways, across multiple channels Measure the success of your programs and constantly optimize
- So what do you need to get started? A strong foundation. You need to know who your top accounts / targets are. And that starts with defining your ICP.
- Let’s start with what your ICP is NOT: Total addressable market, or every company that could possibly purchase your product Target account list, or specific accounts that you want to target Buyer persona, or specific types of people that will buy and use your product
- ICP IS: It can be as big as: A strategic framework to manage resource allocation & activity across the entire business. (Our new President just rolled out a revised version of the RollWorks ICP, and has been quizzing every employee on it, as it’s the epicenter of all decision making) + Specifically: A set of attributes used to describe the companies with the highest value to your business.
- If you don’t have an ICP: Product builds for a first set of customers Marketing markets to a second set of customers Sales sells to a third set of customers This misalignment results in wasted time and MONEY.
- But let us not be ruled by fear, in the most recent TOPO Account-Based Benchmark Report, organizations with a strong ICP reported 68% higher win rates than those that did not. So there is a tangible monetary benefit to completing this exercise and being rigorous in its application.
- So what does an ICP look like - Let’s start with an example of an ICP that is too vague. This is an example for a new email marketing product that’s looking to disrupt the big players like Marketo with an easy-to-use out-of-the-box solution. However, these attributes are not specific enough to align marketing and sales against a finite set of target accounts. Is your product based on seats/licenses purchased? If so, how many seats do you need to sell to have an efficient cost to serve? Are all SMB companies really eligible? Are there some MAPs that map closely to your product, or that have a weakness your product is specifically primed to solve, that you should focus on first as a way to gain traction?
- Here is where we start to see enough detail that will eventually lead us to a target account list. By homing in on specific regions, verticals, etc. we paint a specific and vivid picture of our ICP. In this case, you have identified that: Companies in the banking & finance industries are the best fit for your product; perhaps your company is specifically equipped to handle the regulatory environment in which they operate Specifically companies w/ 500 to 5000 employees (so you can sell enough licenses to be profitable) But how do we get here?
- Sales funnel data. You already have it, use it. Take a close look at your current closed won customers. They will give you the best picture of the types of customers that you should pursue based on the fact that they’re already seeing value in your product. If your CRM data is clean, you can pull a report yourself with a lot of this data. However, most of us struggle with data cleanliness and completeness, so you could also look to an internal BI team or an external vendor-- such as the RollWorks account-based platform or a data point-solution-- to help you surface these shared attributes in aggregate.
- We’ve developed a simple, 3-step template that you can use as you define your ICP; we’ll make sure to get this to you after the webinar.
- Armed with an ICP, you can create a target account list that aligns to it and tier/prioritize accordingly. And, you can go a step further, and begin to source contact information for those in the buying committee, based on role.
- So now you have that ICP-- how do you create a specific target account list? Again, if you already have a robust CRM full of relevant accounts and clean data, you can create a target account list by pulling a basic Salesforce report. However, data cleanliness is a challenge and best practice is to look at the Total Addressable Market to begin identifying the companies worth deeming a target account, so I recommend that you work with a company that can identify all of the accounts that fit your ICP. For example, using the RollWorks Account-Based Platform, I simply entered the attributes from our email marketing product’s ICP, and found 237 accounts that are a strong fit. You could then take this list and determine how to tier and prioritize these accounts alongside your sales team. It’s also worth noting that we just launched this product and account scoring is quickly coming down the pike to help you to further tier and prioritize.
- There are also a lot of companies that can surface contact information for those on the buying committee within your target accounts. Through our acquisition of Growlabs, you can now do that with us. This allows you to focus your ad spend (and messaging) on key decision makers and also enables SDR/BDR email outreach, along with physical touchpoints like direct mail and event invitations.
- So we’ve spent a lot of time talking about your data foundation. We’re now going to move on to some ways that you can reach these target accounts and, ultimately, drive them to your website.
- I mentioned TOPO’s Account-Based Benchmark Report a bit earlier. In it, they emphasize that the most successful account-based companies are using existing sales & marketing tactics; they’re not re-inventing the wheel, they’re just using it in a slightly different way. Respondents report that their top five account based tactics are SDR outreach, digital advertising, direct mail, marketing email, and events. Coordinated execution—not the specific tactics used—is the key change required to develop and execute an account based strategy. Now, we’re going to home in on 3 channels: sales outreach, display advertising, and direct mail. We’re doing this for a few reasons: These are the 3 most important channels in our own ABM program Because they are relatively cost-effective and quick ways to drive contacts from your target accounts to your website.
- So let’s get into some specific ways that you can begin running marketing and sales plays against whatever existing data you have.
- Transpay is a global payments service that was testing various ABM platforms to find one that could drive high-quality traffic to their site (from a specific list of accounts) without breaking the bank. They used a few of the tactics that we discussed on the last slide: Target account list targeting to serve ads to the buying committees at their top prospects They went a step further and served personalized ads based on job title to the members of the buying committee
- Before I kick it back to Mark, here is a view of our own ABM program that we began running last year. We just refreshed our ads to reflect our newest marketing campaign. What I want you to take away from this is that all four channels--sales outreach, direct mail, digital advertising, and on-site chat (powered by Drift) were complementary and sequential. In 2018, this program improved our SDR appointment rate by 2.2x. And more importantly, accounts that were part of our ABM program were 2x more likely to close than those that were influenced by our “traditional” inbound tactics-alone.
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