Improve Sales and Marketing Collaboration with ABM
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As 97% of marketers achieved higher ROI with account-based marketing than with any other marketing initiatives,* ABM is no longer a nice-to-have, but a critical component of every marketer’s toolbox. By leveraging the latest ABM technologies marketers can help grow revenue, strengthen connections between marketing and sales, and enhance interactions with customers and prospects. Join our guest Mary Shea, Principal Analyst at Forrester Research, and Marketo’s Mike Telem, VP of Product Marketing, to discover what ABM techniques companies are leveraging to improve sales/marketing alignment—and boost revenue.
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Improve Sales and Marketing Collaboration with ABM
- 1. Improve Sales & Marketing Collaboration with ABM Mary Shea Principal Analyst Forrester Research, Inc. Mike Telem VP, Product Marketing Marketo
- 2. Improve Sales & Marketing Collaboration with ABM Mary Shea Principal Analyst Forrester Research, Inc.
- 3. 3© 2016 Forrester Research, Inc. Reproduction Prohibited Why account- based marketing and why now?
- 4. 4© 2016 Forrester Research, Inc. Reproduction Prohibited Image credit: NASA/Ames/JPL-Caltech Embrace ABM to: - drive growth - enhance customer experience - increase marketing and sales collaboration © 2016 Forrester Research, Inc. Reproduction Prohibited
- 5. 5© 2016 Forrester Research, Inc. Reproduction Prohibited “What's the value of an engaged, global client? Priceless.” — Holly Sandoval, SAP
- 6. © 2016 Forrester Research, Inc. Reproduction Prohibited 6 B2B Marketers Find ABM Falls Short Source: “Retro Yet Revolutionary: Demystifying Account-Based Marketing” Forrester Research, Inc., September 19, 2016
- 7. © 2016 Forrester Research, Inc. Reproduction Prohibited 7 Marketers See ABM As Sales Enablement Source: “Retro Yet Revolutionary: Demystifying Account-Based Marketing” Forrester Research, Inc., September 19, 2016
- 8. © 2016 Forrester Research, Inc. Reproduction Prohibited 8 Misconceptions Around ABM
- 9. © 2016 Forrester Research, Inc. Reproduction Prohibited 9 Account Selection › Dependent on firm’s strategy, accounts are selected based on: • Fit • Intent • Combination of both, using predictive solutions Source: “Retro Yet Revolutionary: Demystifying Account-Based Marketing” Forrester Research, Inc., September 19, 2016
- 10. © 2016 Forrester Research, Inc. Reproduction Prohibited 10 Operationalizing ABM Collaboration Source: “Account-Based Marketing Brings Sales And Marketing Into The Same Orbit” Forrester Research, Inc., September 21, 2016
- 11. © 2016 Forrester Research, Inc. Reproduction Prohibited 11 Joint Planning and Other Activities Source: “Account-Based Marketing Brings Sales And Marketing Into The Same Orbit” Forrester Research, Inc., September 21, 2016
- 12. © 2016 Forrester Research, Inc. Reproduction Prohibited 12 Companies Implementing ABM Programs ABM gives a deeper engagement level between the account team and customer. Customers will say, “stop sending me so many messages.” ABM shuts this down since they only get focused messages - SAP "You have to reach those prospects that matter, even when they are not coming through your standard channels. ABM helps us to catch their attention when they are in a passive decision-making process — to see us as a trusted advisor early on, not just as trying to sell them something.” – Virgin Pulse Source: “Retro Yet Revolutionary: Demystifying Account-Based Marketing” Forrester Research, Inc., September 19, 2016
- 13. © 2016 Forrester Research, Inc. Reproduction Prohibited 13 Companies Implementing ABM Programs ABM allows alignment in our marketing activity with sales teams’ priorities. There is common language and metrics. Before ABM, marketers talked about leads, and sales about accounts, now we talk about accounts and revenue. – Mongo DB Marketing multiple products on a very large scale propelled them to focus their efforts and be more contextual with clients. – Dell Source: “Retro Yet Revolutionary: Demystifying Account-Based Marketing” Forrester Research, Inc., September 19, 2016
- 14. Improve Sales & Marketing Collaboration with ABM Mike Telem VP, Product Marketing Marketo
- 15. ABM Essentials
- 20. Financial Services Healthcare Education Vertical Insurance Companies Public Hospitals Universities Sub-vertical Category Mid-West Target Accounts Top 50 Retail Accounts Key Enterprise Accounts Existing Customers Prospects using Specific Tech Named Accounts Lists
- 21. ABM Examples Early Stage Programs
- 22. Page 22Marketo Proprietary and Confidential | © Marketo, Inc. 11/3/2016 Awareness
- 23. Page 23Marketo Proprietary and Confidential | © Marketo, Inc. 11/3/2016 Website Personalization Targeted offer for healthcare
- 24. Page 24Marketo Proprietary and Confidential | © Marketo, Inc. 11/3/2016 Target Account Display Advertising
- 25. Page 25Marketo Proprietary and Confidential | © Marketo, Inc. 11/3/2016 Engagement
- 26. Page 26Marketo Proprietary and Confidential | © Marketo, Inc. 11/3/2016 Engagement Luncheon Overview Title: Executive Luncheon: Master Engagement Marketing Presenters: ▪ Lori Wizdo, Principal Analyst, Forrester Research ▪ Shyna Zhang, Sr. Product Marketing Manager Audience: Director and above marketing titles in the respective geographies Goals: Create 2 new opportunities per event; accelerate open deals Description: Join Marketo for an executive luncheon featuring Lori Wizdo, Principal Analyst with Forrester Research, Inc. and Shyna Zhang, Sr. Product Marketing Manager with Marketo, to learn how best-in-breed marketers are mastering the art and science of digital marketing by leveraging five key tenets of engagement marketing and engaging their audience.
- 27. Page 27Marketo Proprietary and Confidential | © Marketo, Inc. 11/3/2016 Engagement Luncheon Goals Goal: Set up meetings with account x, y, z Metric: C- level attendance, opps, 10x pipeline Timing: month one, three months out, 1 year Questions: ▪Did we create C-level engagement? ▪Did we get meetings in our key accounts? ▪How did the program do overall wrt to pipeline?
- 33. Page 33Marketo Proprietary and Confidential | © Marketo, Inc. 11/3/2016
- 34. Page 34Marketo Proprietary and Confidential | © Marketo, Inc. 11/3/2016
- 35. Page 35Marketo Proprietary and Confidential | © Marketo, Inc. 11/3/2016
- 37. What Makes Marketo ABM Different? Target Engage Measure Accounts Combining all the essential components of ABM CFO CMO VP Sales Leads Plus powerful lead management capabilities In ONE platform
- 38. Once source of truth for account list, named account, opportunity and lead relationships Much easier to orchestrate engagement with leads AND accounts across all channels Fewer integrations to build/maintain One common user interface to learn Benefits to One Platform: Marketo
- 39. Complete Ecosystem of ABM Partners • 250+ integrated applications across 20+ categories • Provides choice as your needs grow • Enables greater segmentation, personalization and engagement
- 41. Page 41Marketo Proprietary and Confidential | © Marketo, Inc. 11/3/2016 Marketo ABM – 1 Year Roadmap V1 V2 V3 V4Summer’16 (End of Sep’16) Essentials of ABM • New Account Object • Account Lists • Account Scoring • Lead-to-Account Matching • Account-level campaigns using ABM-centric Filters & Triggers • Integrated Cross-channel engagement (Email, Web, Ad, Social, Mobile, Direct etc.) with • Built-in Account-level Analytics, trends, KPI’s, activities and RCE integration. Sales Enablement • Named Account API’s • Sales Team Integration into ABM (Auto CRM Sync of Sales Users) • Account-Owner based Account Lists • Built-in Personalized ABM reports for Sales Team Advanced ABM • Account List API’s • Browser Plugin to access ABM insights • Account Hierarchy (Parent/Child Relationship) • Advance Account Scoring • Account-List Lifecycle (e.g. add accounts to list on pre-set rules) Account Intelligence • Enhanced Lead-to- Account Matching • Account Import Using Excel • Advance ABM Analytics - • Benchmarking Accounts • Account-List level analytics (e.g. Lifetime value from fortune 500 accounts)
- 42. Thank You! Mary Shea Principal Analyst Forrester Research, Inc. Mike Telem VP, Product Marketing Marketo
Notas del editor
- As you re-envision and refine your go-to-market approach - keep in mind that it is all about the buyer. Marketers must architect an engagement strategy that moves the buyer through their journey and then align with sales on execution. But remember a status-quo approach no longer works!
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- ABM progress is best measured at the macro level. For Holly Sandoval, SAP's VP of audience engagement marketing, this meant creating a willingness upfront to forego a strict quarterly focus on volume metrics like leads and contribution to pipeline in favor of metrics like account health and depth of engagement with key stakeholders. "It's showing how we grew the account by $50 million over the whole year, not $4 million in any quarter. Questions about quarterly pipeline don't belong in this conversation. What's the value of an engaged, global client? Priceless."
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- Despite the benefits of taking an account-based approach to marketing and the availability of technologies to support it, ABM is suffering from an identity crisis, with hype and hyperbole outpacing reality. In fact, 73% of B2B survey respondents agree that, as an industry term, ABM lacks specificity and is applied inconsistently to many different approaches Too many technology options muddy the waters, and none fit every need. Vendors generate much of the propaganda surrounding ABM today. Point solutions increase choices without offering long-term solutions. We see marketers, commonly in the midmarket, integrating a dozen or more technologies to build their martech stack. ABM can't shed its sales support legacy. As the originator of the term "account-based marketing" in the early 2000s, ITSMA's definition focused on marketing to a single account. Our survey results echo this old-fashioned thinking: 43% of respondents rate ABM most effective at nurturing and converting leads to deals, while only 4% give it similar marks for creating brand awareness and interest
- Successful marketers always lead with data to identify the characteristics that distinguish "good" opportunities from those selected through feel, anecdote, or intuition. They also leave room for negotiation and iteration. "Instead of taking a stab in the dark, new technologies help marketing figure out which accounts are the likely bets rather than rely on sales intuition that can run the gamut from ‘I sold to this one before' to ‘My kid plays Little League with their CFO's kid,'" explains Tracy Eiler, CMO at market intelligence platform provider InsideView. Selecting the right number of accounts depends on the available resources needed to engage in the right way and at the right time in the buyer's journey. Marketers at BloomReach, Dell, Host Analytics, and MongoDB turn to predictive models and technology to zero in on the right opportunities, find more lookalikes, determine which accounts are in an active buying cycle, or hypersegment buyers to better personalize content and messages.
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- Virgin Pulse – They had 2 acquisitions plus recent funding made them need to scale fast. Decrease time in the sales cycle and, as their solution evolves, so do the people who are involved. If right buyers not coming through standard channels, they had to reach those prospects that they needed to connect with and catch their attention when they are in more of a passive decision making process. Virgin pulse wanted to be seen as a trusted advisor early on, not just trying to sell them something. SAP - In each market units (west, east, south) there are important customers you have to treat differently. They couldn’t do regular TL or campaigns. These accounts have been customers for a while, have an ongoing conversation about things like: How move needle with digital transformation, or digitized workforce play? So they had to sit with the account team to set a plan. Sales does this each year – marketing now helps inspire them and design the strategy jointly. Regional team started this with 5 accounts and has now grown to 50 accounts. Assigning limited resources in each region gives them good ROI and stronger engagement. Some of this is old school aspects like ‘customer first’ – message has to be targeted to the customer.
- Mongo DB – They’re now truly working in partnership. No way of doing ABM without working in lockstep with sales. So they now understand the customers, who they are selling to. See the kinds of customers and accounts – makes you feel like part of sales team. It’s more fun and more accountable. So their overall strategy was complemented through augmenting by different vendors… Put in place Demandbase to personalize website based on verticals. Data providers to supplement and find titles in each region. Need 5 or 7 or 10 titles. Nurture using Eloqua. YesPath – how customers behave on the web, Terminus to do display – take a multichannel approach. 18 months. Predictive to help determine which accounts. Dell – For them it was all about a team effort across the organization that helped. If led by nerds, it would have failed. If by demand gen, it would have failed. It’s the combination that helped them succeed. People who win at the field/execution level have to have the mindset of understanding data and filter things, but also have to know marketing. Not replacing marketing, it’s part of the central nervous system for the organization. They wanted to help sales, make a difference with sales. This helps them to do that. To figure out by segment, campaign, product level who to invite and target for different programs and campaigns. Consumers of data are already to figure out these answers, this helps them to get there faster and more successfully. It adds to their success, not necessarily the complexity. Helps them get their marketing mix more efficiently.
- noticed the need and potential started research spoke with analysts and consultants spoke to our own marketing team spoke with you, our customers, studied your goals and your challenges. found 3 facts about ABM and the technology you need to support it. 1. there are 3 essential components you must have : targeting, eng, mesure 2. You need them in one place 3. must be able to extend
- Target – identify, target and manage accounts and account lists
- Engage – orchestrate personalized, cross-channel campaigns over email, web, ads, mobile, social
- Measure – evaluate revenue impact and optimize your ABM success with account analytics And all of this needs to be done in collaboration with sales
- Now let’s go through each of these tactics mapped to where someone is in their journey. So in many cases, you will be targeting an account that has no idea who you are as a company. So what do you do in that case? Here is where I think things have become very exciting. Unlike, several years ago where you had to depend on just dialing into accounts you can now build some brand awareness and brand preference with digital tactics like website personalization and personal retargeting.
- WP for Top funnel is key Many target accounts are visiting but are anonymous
- Now here is a personalized remarketing ad we used. This was for marketing managers in healthcare. You can actually target account before they know about you
- Micro events are great for the engagement phase of the customer journey. Here I am showing an example we did at Cannes and it was an invitation to a Linkedin and Marketo cocktail reception. So in some cases you can leverage larger events by holding more exclusive dinners – and leverage the fact the key people you want to target are there.
- Now I will go through an exclusive lunch series we did at Marketo so you can see this type of program in more detail. We worked with sales to identify key territories we wanted to host these luncheons. We worked with a thought leader Lori Wizdo who is a Principal Analyst with Forrester Audience: Director and above marketing titles in the respective geographies Goals: Create 2 new opportunities per event; accelerate open deals
- Here is an example of the brief we create. We do this because it is critical to set goals upfront and agree on metrics. Then everyone is aligned with the outcomes.
- We also found that it is very important to have these 3 capabilities in one place – early adopters of ABM found that they needed to sync lists between systems, They tried to stich several engagement apps to orchestrate cross-channel engagements, one for email, another for web, ads… thats very hard, and most of them couldnt do it. And reporting on success was very hard to since there was no central place for account analytics
- 3 essential components in one place -no need to sync lists across systems -One place to orchestrate campaigns presenting the right message provide adaptive engagements -One place to gather the data and provide detailed account analytics and program performance Its your ABM HUB – your central system of records
- #3 So, 3 essential in one place only way to start and scale ABM -But you may also need extend abm. -many flavors of ABM after essentials, may need additional new biz> data, ads cross-sell>predictive -So, 3 essentials, in one + extensable That was the base of our development process
- 1. Because Marketo provides all of the essential ABM capabilities, you save time and reduce complexity by eliminating the need to manage multiple ABM systems, integrations and data sets 2. Marketo unifies ABM and lead management in one solution making it easy for marketers to execute personalized campaigns for both accounts and leads in a single motion… you benefit from reaching key decision makers and deal influencers 3. Marketo provides you with a powerful ABM “hub” along with a complete ecosystem of partners to extend capabilities as you grow
- Think of Marketo as the anchor to your overall ABM strategy Implement Marketo first and expand from there
- 1. Because Marketo provides all of the essential ABM capabilities, you save time and reduce complexity by eliminating the need to manage multiple ABM systems, integrations and data sets 2. Marketo unifies ABM and lead management in one solution making it easy for marketers to execute personalized campaigns for both accounts and leads in a single motion… you benefit from reaching key decision makers and deal influencers 3. Marketo provides you with a powerful ABM “hub” along with a complete ecosystem of partners to extend capabilities as you grow Think of Marketo as the anchor to your overall ABM strategy Implement Marketo first and expand from there
- And when you’re ready to expand your ABM program Marketo’s open platform is supported by a complete ecosystem of ABM partners Including 250 integrated applications across 20 categories