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Account based Marketing_whitepaper
Account based Marketing_whitepaper
Account based Marketing_whitepaper
Account based Marketing_whitepaper
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Account based Marketing_whitepaper
Account based Marketing_whitepaper
Account based Marketing_whitepaper
Account based Marketing_whitepaper
Account based Marketing_whitepaper
Publicidad
Account based Marketing_whitepaper
Account based Marketing_whitepaper
Account based Marketing_whitepaper
Account based Marketing_whitepaper
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Account based Marketing_whitepaper

  1. Marketing to Account Based Marketing Better, Effective and Rewarding Sudharsan Natesan Head of Marketing, Middle East, Africa and South Asia
  2. Imagine walking into a prospect’s office knowing what solution they need, why they need it, and when they will be ready to buy. Imagine that, with this information, you have an open, intelligent dialogue about why your solution is the ideal fit – with the person who will actually make the purchasing decision. And, imagine that you are not only armed with the knowledge that makes you stand out among your competitors but that you know that your efforts are focused exactly on accounts with real opportunities. Now imagine having this insight into every prospect in your universe, and the impact that would have on you beating your goals. While many organizations may be investing in account- based marketing (ABM) for top-named accounts, most are still relying on a “one size fits all” sales and marketing approach for the bulk of their prospect universe – performing outreach to companies in a given market as if they were all the same, with lackluster results. This brings us to the question – What is Account Based Marketing? Account based marketing is just like building a relationship with someone. Account based marketing is defined by Interop.com as “treating individual accounts as a market in their own right”. Demand base definition says “Account-based marketing is a practice that enables B2B marketers to drive more revenue by focusing their marketing and communications efforts on the accounts (companies) that have the most potential to become customers.” Marketing to Account Based Marketing 2 Executive Summary Account-based marketing is a practice that enables B2B marketers to drive more revenue by focusing their marketing and com munications efforts on the accounts (companies) that have the most potential to become customers. - Demand Base
  3. Why are companies embracing Account Based Marketing? It represents a potentially significant improvement to the existing account planning process. It adds the “power” of marketing to the account development process. It helps companies focus on their most important accounts and account opportunities It helps develop deeper relationships with a broader set of decision-makers It has a high rate of return Marketing to Account Based Marketing 3 The Account Based Marketing (ABM) Framework How would you implement an Account Based Marketing (ABM) program for B2B Marketing? What are the key program phases and how does this differ from more conventional B2B programs? The program objectives (e.g.: penetrate complex accounts? maintain profitable accounts? increase the share-of-wallet?) Select the suitable targets Measures program effectiveness and achievements Governance, i.e. how the program is organized and measured. An ABM program must first define its operational framework: Account Based Marketing
  4. Beyond the governance, we enter the key action of the ABM, the analysis of the target accounts. Since the account tactics must be very specific, the analysis entangles the full profiling of the customer, gathering all data for understand context and strategy: industry, business targets, served markets and segments, key financial indicators with trends, transformation and operational initiatives, relevant competitors and product and services. Marketing to Account Based Marketing 4 Target accounts Select Account & Account & build pofile (Market, Industry Account) & WS Organize strategy, objectives, opportunites & target customer contacts Work with team to map value prop to objectives Customize existing best practices or define 1:1 ad-hoc Tools for customer awareness Assemble content, & resources Enable & support delivery Advocacy (references) and success stories Identify options & available resources; joint selection of tactics & best practices 1 2 3 4 4 5 6 CORE ACTIVITIES Execute Understand & analyze Plan & define ABM Framework Program goals, account selection criteria & governance Understand & Analyze Build integrated intelligence complementing Sales, Presales, Marketing and Market data Plan & Define Plays Define an integrated plan discussing campaign options on objectives and resources Build & Personalize Leverage existing company best practice with customization, personalization or if feasible, define 1:1 ad-hoc events Execute Deliver and fulfill sharing burden of delivery ( marketing/sales) Measure & Review Build and share references The analysis must also consider our sales objectives, the customer organization, the mapping of key decision makers, and the relation with each of them (account We coverage by both marketing and sales). We should also add our historic data, our current funnel of opportunities, our solution considering which product/ services are already used in which customer business units
  5. The First Step Marketing to Account Based Marketing 5 and where we have opportunities to growth our share-of- wallet. The next step is the planning and definition of the possible account initiatives or marketing tactics to achieve the sales goals. Normally this is done in a sale-marketing joint workshop where both sales and marketing define the respective roles pulling together the different skills in order to define the effective actions. The first step is to map the client’s needs (projects, competitions or strategies) with the key value propositions that the company can offer in terms of products, solutions or services and the prioritizing the most important ones. Afterwards, we assign a key decision maker and define how to reach him with the right value proposition, be it a new service concept, a solution, an architecture or a new business case tailored for that decision maker role. The company must define exactly each tactic, by identifying: the initiative objectives, the used marketing campaigns & tools and the needed resources (people, skills, budgets, suppliers) for each program. Again, the peculiarity of this approach relies on the synergy between marketing and sales: normally tactics are based on delivering special events and campaigns leveraging marketing formats, but these are specialized to address a specific account stakeholder, his/her buying behavior and his/her needs.
  6. Each Prospect is Unique Technology buyers have high expectations for their potential vendors and partners. They expect that you’ve done your homework – that you know their business and their pain points, and that you have a viable solution to their pressing needs. Walking in the door with a “one to many” message – and hoping the selling points resonate – puts you on the fast track to jeopardize the deal. So often we see companies fall into the trap of assuming that one signed. Client in a particular vertical means that their business challenges are the same as other organizations within that sector. But, one win does not translate to widespread market knowledge. Not every organization is the same. They each have unique organizational structures, IT infrastructures and budgeted initiatives that deserve unique attention. Marketing to Account Based Marketing 6 ITSMA Account Based Marketing Framework Program Planning & Pilots Program Oversight - Strategy - Objectives - Staffing - Operating Model - Funding Integration with Marketing & Sales Account Selection Piloting Metrics Definition 1 Account-Specific Planning & Implementation Understand & Analyze Define & Select Plays Build Sales & Marketing plan 2 Program Assessment & Growth Program Assessment - Metrics - Team - Accounts Program Oversight Assessment Program Scaling Company Wide Integration 3
  7. ABM allows you to get a true blueprint of your market, providing answers about who is buying – as well as not buying – and the purchasing behaviors and business drivers behind those decisions. By knowing where the buying cycles are, you can deliver a message that addresses actual business needs for the targets with the most pressing opportunities. There’s a reason why organizations that implement ABM best practices see a 15% increase in marketing-generated leads moving to pipeline. Forward Planning Planning is vital. How you segment accounts will influence your approach and allocation of budget. It’s all about balancing ABM to blend quick wins with long-term growth. Your organization needs to plan a long-term strategy to win or grow a handful of the largest accounts. And think hard to figure out what you do to support the business with developing named accounts. Use the right tools to approach industry segments and most importantly, don’t forget post-sale engagement for up-sell and cross-sell. ABM Strategies Megan Heuer, VP and Group Director of SiriusDecisions, outlined four subcategories of ABM campaigns: Large-account marketing This approach involves assigning dedicated resources to the biggest customers or extremely high-value prospects. Due to the complexity and size of these accounts, you organization should target them with a customized proposition suited to their needs. From a sales point of view, the accounts may have labels like global, strategic or large enterprise. You should always use this approach when 15%Increase Marketing-Generated Leads moving to pipelines Marketing to Account Based Marketing 7
  8. a large share of growth is contingent upon delivering results in a very small number of companies, and when sellers can benefit from customized marketing help. Named-account marketing This approach involves targeting a mixed list of current customers and prospects. The list of accounts per sales rep is usually between 10 and 50 often is usually assigned by geographic territory. Sometimes named-account lists include large accounts, but usually these named accounts are the next tier down in terms of current and potential value. Your organization should choose this approach if the sales model delivers business growth from a defined universe of specific accounts. Broad-based demand creation is not as effective since it doesn’t discriminate between named and unnamed accounts. On the other hand, if the named accounts are more of a guideline for sales than a mandate, and any account that presents opportunity will get sales attention and credit, this approach is unnecessary. Industry- or segment-account marketing This approach involves targeting companies in a defined segment or industry. This model works when a company sells to markets or segments with only a few, well-defined customers, so the market itself imposes a segment- account-based model. This can also be effective for entering new markets or new buying centers where there is a list of target accounts and broad-based marketing will not be effective. Marketing to Account Based Marketing 8 Account 2 Account 3 Account 1
  9. Customer marketing This approach involves supporting the post-sale experience and relationship with your customers. Every company needs systematic, relevant customer marketing support. The approach will be a case-by-case basis according to business model and product, service or solution. Customer marketing focuses on the non-selling interactions and communications that support better customer engagement, loyalty and advocacy. It supports retention, cross- and upselling efforts by creating a positive environment throughout the customer lifecycle. Components range from analytics and monitoring to retention nurturing, advocacy and reference development. Marketing helps sales or partners efficiently and cost- effectively maintain a relevant dialogue with customers. Account Based Marketing (ABM) tactics for success Develop prospect-specific offers One key to account based marketing is relevance and personalization. There are likely a small number of target accounts in a typical ABM program so campaigns and offers need to deliver high conversion rates. One idea is to personalize content marketing efforts by creating offers that are built specifically for a particular target account. Develop “sales” offers designed to get meetings 99.9% of marketers create offers that are designed to generate leads from webinars and whitepapers. The “sales” offer is an offer designed to help inside sales or sales get prospects to agree to a meeting. E.g.: free technology assessments or free security audits. Marketing to Account Based Marketing 9
  10. Use retargeting to keep your brand in front of accounts Retargeting is a great way to repeatedly engage a specific account as employees from that account consume online content. There have recently been some remarkable retargeting innovations that are directly applicable to ABM programs. According to Forrester, 75% of buying activity happens before a “hand-raise” making retargeting a critical part of the account based marketing mix. This data really highlights how critical retargeting is for winning mind space of your target accounts. Personalize the account’s experience on your website Given the targeted nature of account-based marketing, it’s critical that ABM programs deliver high conversion rates. Personalizing landing pages is one effective tactic for doing this. Marketers should create account-specific landing pages that display custom copy, images, offers, and forms depending on the person or account that is visiting the landing page. Social Intelligence to Understand Needs and Preferences of Prospects As mentioned earlier, the key to ABM is personalizing communications on the basis of current challenges and initiatives. Since business organizations evolve quickly, smart vendors always try to monitor trigger events and changes directed at target accounts. One common method is to subscribe to public information, like Google Alerts. This can help you understand everything that’s been happening at a company level. Another effective strategy is to monitor social activity. Unlike PR-driven posts or press releases, social data helps you uncover what key prospects prefer and care about. Marketing to Account Based Marketing 10 75%“hand-raise” making retargeting a critical part of the account based marketing mix of Buying Activity Forrester
  11. Building a List of Role Based, Legitimate Contacts There are many vendors who create relevant lists on the basis of responsibility or role. These lists can guarantee that a contact is still active. Such lists allow account- based models to integrate the company’s database with appropriate contacts. At times, titles are insufficient to provide extensive information. With a relevant role based list, a company can easily ask for specific roles like an employee in charge of IT infrastructure’. Unfortunately, most business organizations seed the database with a huge number of names without considering data quality. Although these techniques might work, it is less efficient. Your employees will have to spend a lot of time hunting down relevant roles. Teamwork between Sales and Marketing is essential for Account Based Marketing to work In order for Account Based Marketing to fulfill its potential, both sales and marketing departments must be aligned; working together towards a single objective. Without a good working relationship between these two internal divisions, ABM will fail. Account Based Marketing works on the premise that both sales and marketing are using single lead criteria. They need to ensure there is parity throughout the funnel. When targeting a single account, both departments need to ensure their efforts are coordinated and integrated with such a focused approach, alignment in the nurturing process is more important than ever, particularly when you are trying to develop individuals within organizations using customized content. Marketing to Account Based Marketing 11
  12. Marketing can help Sales in the following ways: Cross-sell With enough information, the opportunity to cross-sell becomes increasingly viable. The more you understand your client’s requirements the better you can tailor the sale of additional services into the overall package. Up-sell Up-sell becomes a much more fruitful opportunity as a result of ABM. Both up-sell and cross-sell offer opportunities for your company to introduce scalability to your business offerings. With a deep understanding of your prospect’s problems you can tailor your messages to specifically target their pain points and resolve the issues through an integrated strategy that reduces waste and maximizes budget. Loyalty/retention program Once new accounts have been secured it is vital these clients appreciate the commercial partnership. This needs to be cultivated by targeting benefits designed to provide additional value on top of the initial sales. The privilege of being a client should be strongly communicated and reinforced with exclusive opportunities. Account hosted event Hosting an event on your new account’s premises creates the perfect opportunity to infiltrate and network from within while maximizing the company’s reach. These events can offer personnel from within the client the opportunity to learn new skills. This not only improves integration and communication between companies but also lays the foundations for potential up-sell/cross-sell in the future. Marketing to Account Based Marketing 12
  13. References ITSMA Marketing to Account Based Marketing 13 Finally – Account Based Marketing is the Future Account-based marketing is an important concept because it can increase the efficiency of marketing processes, accelerate the closing of business, and perhaps most importantly, breakdown artificial barriers between sales and marketing. While ABM is a part of many sales processes focused on existing accounts, it is equally valuable in identifying new customers. The challenge for most marketing organizations is to identify what parts of the process they can execute on their own, and what must be done under the direction of sales. Account-based marketing is most effective when the senior-most selling and marketing executives lead it. If their objectives are not aligned, or their commitment is lacking, the program will be difficult to implement. www.itsma.com/abm/ http://www.itsma.com/three-ways-to-apply-account-based-marketing-successfully/ http://customerthink.com/the_role_of_account_based_marketing_in_account_planning/ http://www.b2bmarketing.net/knowledgebank/customer-insight-marketing/features/ time-get-personal-account-based-marketing http://www.lbdga.com/resources/#demand-generation Sudharsan Natesan Head of Marketing, Middle East, Africa and South Asia
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