Account-Based Marketing: Foundations and Strategy

Account Based Marketing Foundations and Strategy

Confidential | © Demandbase 2013 All rights reserved.

•  Why Target Accounts?

•  The Account Based Marketing Framework

•  The Foundation of ABM: The Target Account List

•  Creating and Using your Target Account List

•  Amit Varshneya, VP Consulting Services

Account Based Marketing


Buyer 2.0 is Savvy, Standoffish, and Selective

SiriusDecisions

67%

of the buyer’s journey is now done

digitally

Forrester

66 - to -

90% through their journey

before they reach out to the vendor

CEB

57%

complete by the time a supplier is engaged

BOTTOM LINE: A large portion of the buying process is done online and without Sales.


Buying starts long before the hand-raise

First Visit Hand-Raise Close

Buying Cycle

Sales Cycle

•  Problem Definition •  Exploring Possible Solutions •  Buyer Research

•  Making the decision •  Justifying Decision •  Pricing/Contract

ONLINE ENGAGEMENT


Digital habits have changed B2B buying

75% of buying activity happens before a hand raise.

40% more stakeholders than 4 years ago.

-Forrester

-IDC


Who does a B2B company sell to? TARGETING ACCOUNTS IS BETTER!

BUSINESS UNIVERSE

1+ Employees

6,000,000

$100M Revenue

20,000

$1B Revenue

3,500

Companies

28,000,000


•  Account Based Marketing focuses resources on the companies most likely to result in revenues

Account Based Marketing


Account Based Marketing Framework


Account Based Marketing Blueprint


Getting started with a Target Account List

Iterate •  Test Assumptions against best customers •  Build additional attributes & attribute values •  Expand/Drop attribute list

2

Gather •  Constituents – Sales, Marketing, Business •  Attributes – Describe your market segments •  Customer List – Your best customers

1

Prioritize •  Set of attributes and values •  Universe of Targetable Accounts •  Maintenance and Review Process 3

Deploy 4 •  Create Segments of MVCs •  Map experiences and benchmark •  Attract – Engage – Convert – Measure


•  Constituents •  This is not a “Marketing” project •  Common Stated Goal

•  Assumptions of your target segment attributes and values

•  Who are your best Customers?

GATHER

* Revenue * Geography * Industry * Employees

= Enterprise = North America = IT Companies = 1,000+

> $1Bn = United States, Canada, Mexico = Software & Technology = 1,000+

Agree on a specific list of accounts that are most likely to result in revenue and to then to jointly focus efforts on only these accounts


•  Looking under the hood at Demandbase

Lets work through an example


•  Members of Target Account List Project •  Sales, Marketing, Sales Ops, Mktg Ops, •  Progress review with CMO, SVP Sales

•  Assumptions of Target Segment attributes •  Revenue > $500Mn •  Geography = US, Canada •  Employees = 1000+ •  Industry

•  Size of Target account pool •  13,000

GATHER


•  Electronic Arts

•  JC Penney, McDonalds

•  Procter and Gamble

•  AMC Entertainment

•  US Department of Defense

•  Tractor Supply Company

•  Devry

•  Fluor

•  Coca Cola Company

•  Shell

•  National Beef Packing

•  Kraft Foods

Members of this segment


•  Adobe

•  Cisco

•  Docusign

•  Lithium

•  NetApp

•  VMWare

•  Workday

•  IronMountain

•  Rockwell Automation

•  JP Morgan Chase

•  AT Kearney

What do Customers look like?

1 Oracle-Eloqua StrongView Plex VMWare RGIS RingCentral BlueCoat Cisco Autodesk SAP LivePerson

1b CyberSource HP ExactTarget Motorola VMWare Workday Extole Genesys Juniper Castlight Dell Renesas CenturyLink Oracle-Responsys


•  Test assumptions against best customers

•  Do your segment attributes accurately capture your MVCs?

•  Look for patterns in the outliers •  Are outliers truly outliers?

•  Are certain attributes and values common? •  Expand attributes & attribute values •  Drop attributes & attribute values

ITERATE


•  Adobe

•  VMWare

•  Docusign

•  Workday

•  Lithium

•  NetApp

•  IronMountain

•  Rockwell Automation

•  JP Morgan Chase

•  AT Kearney




Customer Industry Revenue Range

Employee Range

B2B Web Traffic Key Marketing Technologies

Adobe Software & Technology

>1Bn >1000 B2B Very High AA, Eloqua, AEM

VMWare Software & Technology

>1Bn >1000 B2B High AA, Eloqua, T&T

Docusign Software & Technology

<100Mn <500 B2B High Eloqua, Google Analytics

Workday Software & Technology

>500Mn >500 B2B Medium Marketo, AA, Google Analytics

IronMountain Business Services

>1Bn >1000 B2B Medium Eloqua, Google Analytics

Rockwell Automation

Manufacturing

>1Bn >1000 B2B Low Eloqua, Google Analytics

JP Morgan Financial Services

>1Bn >1000 B2B High Adobe, Marketo

BlueCoat Software & Technology

>1Bn >1000 B2B High Eloqua, SFDC,

Cisco Telecom >1Bn >1000 B2B Very High Adobe Analytics, Insight, Marketo


•  Target Segment attributes •  Revenue > $100Mn; $25Mn (S&T) •  Geography = US, Canada •  Employees = 1000+ •  Industry •  B2B Yes •  Web traffic > 50,000 visits per month •  Marketing Sophistication = Mktg Technology from

Eloqua, Adobe Marketing Suite, Google Analytics,

•  Size of Target account pool •  14,000

ITERATE


•  Set of attributes and attribute values •  Prioritize attributes

•  Universe of Target Accounts from agreed attributes •  Prioritized List of Target Accounts •  Leave room for “outliers”

•  Maintenance and Review process •  Process and criteria for adding/deleting

accounts •  Attribute and list review cycle •  Single Source of Truth

PRIORTIZE


•  Prioritized list of attributes •  B2B B2B •  Web Traffic Very High, High, Medium •  Marketing Tech Adobe Analytics, AEM, Drupal,

Google Analytics, Eloqua, Marketo

•  Geography US, Canada •  Revenue >100Mn, >25Mn •  Industry Software & Tech, Telecom, Business

Services, Financial Services,

•  Prioritized list of accounts •  ~ 14000

•  Process and system for accounts addition/deletion

•  Single Source of Truth

Target Account List


•  Identify segments of MVCs within the Targetable List •  Deploy as Account Watch across modules

•  MEASURE : Benchmark MVC performance

•  ATTRACT : Create awareness

•  ENGAGE : Personalized experience

•  CONVERT : Lift conversion rates and data

DEPLOY


•  Northwest Analytics Segment •  Target Account = YES •  Marketing Technology = AA, GA Premium •  Geo = Oregon, Washington, Northern California

•  Software & Tech •  Target Account = YES •  Industry = Software & Tech

•  Eloqua Users •  Target Account = YES •  Marketing Tech = Eloqua

•  Analytics Customers

Target Segments


Nuances to remember

•  This is not just a Marketing exercise

•  Apply Art to Science

•  Agree on definitions and sources of truth for each attribute

•  Lists evolve - Include outliers

•  Look for unexpected patterns


DISCUSSION


ABM at Demandbase

•  Shari Johnston

•  Sr. Dir. Marketing

•  Shari Bio

•  Gabe Rogol

•  VP, Sales

•  Gabe Bio


Results

•  Decrease in Lead Volume passed to MDT 70%

•  10% Increase Inquiry to MQL since January

•  12% Increase in SAL to Pipeline

•  Increase in Web Engagement for our Target Accounts •  6% Prospect •  5% Customer


Gather •  Constituents – Sales, Marketing, Business •  Attributes – Describe your market segments •  Customers – Your best customers

Target Account List Foundation

Test •  Test Assumptions against best customers •  Build additional attributes & attribute values •  Expand/Drop attribute list

Finalize •  Set of attributes and values •  Universe of Targetable Accounts •  Maintenance and Review Process

Deploy

2

1

3

4 •  Create Segments of MVCs •  Map experiences and benchmark •  Attract – Engage – Convert – Measure


What should you do next? Where are our customers with ABM?

Eager to Learn -  Haven’t begun ABM - 

Eager to Start -  Need to get started -  Alignment/Buy-in exists -  Need tools/help to get started with Target Account List process

Eager to Continue -  Need to get started -  Alignment/Buy-in exists -  Need tools/help to get started with Target Account List process

Eager to Improve/Share -  Need to get started -  Alignment/Buy-in exists -  Need tools/help to get started with Target Account List process


•  Build list of most valued companies/customers

•  Receive list of attributes that describe these accounts

•  Receive list of attributes that allow you to include most accounts

•  Receive the GOLD list - most targetable list of target accounts

•  Target Account List seamlessly setup as Account Watch attributes for Analytics and Content and as Target Lists for CTA

Account Based Marketing Service


Account Based Marketing Framework


What’s Your Number?

Identifying and Targeting MVCs

•  Location :

•  Time :

Analytics and Personalization

Measuring and Creating Engagement

•  Location :

•  Time :

Which Workshop is next?


APPENDIX


Develop a Strategic Plan •  Align sales to new logo acquisition for these

shared targets

•  Focus Marketing on only these accounts

•  Are they on your site?

•  Advertise to them

•  Engage them on your site

•  Work with vendors who can

provide leads only from

your target accounts

•  Create new nurtures

•  Target

•  Non-Target

•  MDT Talk Tracks

•  In Pipe & Customer Marketing


Process & Systems

•  Systems •  Website! •  Demandbase •  M Automation •  SFDC •  CMS •  Full Circle CRM

•  Processes •  Targets for all •  Qtrly List Review •  MDT Qualification

Limits •  Training for all •  Weekly Alignment

Meetings


Adobe®

Analytics

Digital Analytics

Adobe®

Experience Manager

Adobe®

Target

The Demandbase Platform & Ecosystem

Real-time Identification Engine

Company- Targeted

Advertising

Website Optimization Suite

Analytics Content Targeting

Forms Chat

Sales IQ Suite

CRM Chat


What Can I Do Now to Get Started?!

•  Check out our ABM Resource Center •  http://www.demandbase.com/account-based-

marketing/

•  Talk to Sales about possible impacts of ABM

•  Consider implications of implementing ABM

•  Start with your customers- Research Project

•  Build your target list

•  Plan to iterate!

[email protected] @jenpwkboxer

Account-Based Marketing: Foundations and Strategy

Marketing

Transcript of Account-Based Marketing: Foundations and Strategy