Here’s a good overview article about Account-Based Marketing priorities that appeared in Forbes, written by Jon Miller, CEO of Engagio, a leading ABM (Account-Based Marketing) technology platform.
As always, we emphasize the importance of sales and marketing alignment. This means creating the process and management system that will help you achieve this. Also, we encourage getting started with what you have today, no matter where you stand with data, marketing tech, ABM tech, or sophistication of your current marketing efforts. Our approach to planning will help you start to see results sooner than you might think possible.
Here are some of the highlights from the article:
1. Focusing On Key Accounts
In B2B deals, companies sell to accounts, not single buyers. After all, sales reps close accounts, not people.
That’s why it’s important to start with a targeted list of accounts. Rather than trying to market and sell to anyone and everyone, when you focus on a key set of accounts, marketing teams can drive larger deals and better economies of scale.
2. Using Intelligence And Measurement At Accounts
First, you need to understand account coverage, or how many viable contacts for these target accounts exist in your marketable database. Lead records are historically owned by marketing and do not roll up to accounts in most customer relationship management systems. This divide is also reflected in the current marketing automation systems. The risk of unmatched contacts manifests itself in incorrect routing and scoring, a disruption to the customer’s experience and poor reporting.
To bridge this gap, some ABM practitioners deploy lead-to-account matching technology within their CRM databases to understand which individual contacts belong to which target accounts. If you go this route, ensure you track engagement.
3. Tiering And Prioritizing Accounts
All target accounts are not created equal, and it’s important to prioritize accordingly. This is a challenge when companies are supporting thousands of target accounts, many times with a single ABM program manager, and multiple sales reps.
The key is tiering. Rather than try to treat all accounts equally with the same messaging, campaigns or resource allocation, identify top tier-one accounts, and assign the rest to tier two.
Tier-one accounts get bespoke attention, fully customized plans and deep research. After all, these accounts represent the highest potential value for your business.