ABM Case Studies In Reverse

The following is based on a successful live session with Mickael Bizouati in our meetup last week. I thought it'd be relevant for everyone so I turned it into a newsletter - I hope you enjoy!

ABM Tech

In my ABM journey, I've seen it all. First, there was a company that let an expensive ABM platform gather dust for a year. Another jumped the gun and bought a platform without knowing who they were targeting. Then, one only used their ABM tool for remarketing – a big miss.

Here's the deal: ABM platforms are NOT only a marketing tool and they are NOT 100% needed when you start your ABM journey.

The real game-changer? Getting teams like SDRs, BDRs, AEs, and CSMs in on the action - they should be buying the ABM tool and not the marketing team. This makes sure everyone uses the tool to its fullest.

I found out in some cases sales didn't even know marketing team had an ABM platform. Talk about missing the mark on team alignment! This gap meant we weren't using the full power of the tech stack – think intent data and tech insights that could've made a big difference.

Key takeaway? Educate and align your sales and marketing teams. It's how you unlock the true power of your ABM platform, making every effort count towards smashing those ABM goals.

No KPIs = Wrong KPIs

Jumping into ABM without the right KPIs is like flying blind. I've seen it too many times: companies dive into ABM thinking it's all about generating leads, then scratch their heads when they can't see the impact (i.e. an influx of new leads).

Here's the kicker: they start without any benchmarks or ignore ABM best practices. It's a setup for disappointment. I've even thought about clarifying this in contracts because the scenario is too common. You tell a company lead generation isn't an ABM goal, they nod, but a month later, they're asking for leads.

Here's what I've learned: Don't dismiss short-term KPIs as fluff. They're your compass to knowing you're on the right track. Think web traffic, engagement, and yes, leads from those targeted accounts. And if using Click-Through Rates (CTRs) works for Google, why not for ABM?

The goal? Shift from a lead-centric to an account-centric mindset. Define success early on. Aiming for 20-25% of your targeted accounts to move from just being aware to actively engaged is a solid target. And budget-wise? For enterprise-level engagement, think about setting aside $500 per account each month. It's about investing in meaningful engagement, not just chasing leads.

Content Is The Center Of Your ABM Campaign

When diving into ABM, overlooking the role of content is a critical misstep. The pitfall of using generic content is way too common, stemming from a lack of concrete content strategies and not assigning a dedicated content creator for ABM initiatives. I've experienced first-hand the frustration of collaborating with a company that planned to generate targeted content, yet five months down the line, we were still at square one - without new content. This led me to establish a firm policy: secure content before even starting an ABM project.

The assumption that one-size-fits-all content can meet the needs of diverse ICPs is another common misconception. Without a clear commitment to producing a specific number of tailored content pieces, efforts tend to fall flat. It's crucial to include targeted and personalized content creation into the ABM strategy from the get go.

Moreover, even when content is available, aligning outreach sequences across sales and marketing teams ensures everyone leverages the same, consistent messaging. Marketing isn't the sole benefactor of content; sales teams rely on it too for customized communications. The takeaway? Content is the cornerstone of effective ABM, necessitating upfront planning, dedication, and coordination to truly resonate with targeted accounts.

The Immutable Process

Navigating the ABM landscape, it's clear that while having a solid process is essential, flexibility within that framework is just as important. The ABM process/playbook should serve as a guideline rather than a rigid set of rules. As you embark on this journey, be prepared for your operational processes to evolve. It's important to map out these processes and plan resources accordingly, always keeping an eye on the collaboration between Sales and Marketing teams.

The shift from focusing on individual leads to managing accounts requires a reevaluation of how leads are assigned and managed. Questions arise, such as whether incoming leads should automatically be assigned to the account owner or if leads should be auto-converted into contacts within your CRM system. It may turn out that the system we implemented at the kick-off doesn’t work out down the line, doesn’t mean we should stick to it no matter what. It definitely should be changed, but there should always be a system/process in place.

My takeaway? Allow space for experimentation. There's no "one size fits all" playbook for ABM. Adaptability and the willingness to tailor your approach as you learn what works best for your team and target accounts are key to unlocking ABM success.

ABM Is About Getting New Logos

Understanding that your strategy can embody different motions based on your organization's specific needs, size, and maturity level is crucial. These motions can range from:

• acquiring new logos
• focusing on expansion within existing accounts
• addressing churn
• hunting for low-hanging fruits that promise quick wins

Each of these motions demands a distinct set of objectives and goals, tailored to address its unique challenges and opportunities.

Goals

Setting clear, actionable goals is the cornerstone of launching any successful? initiative, and ABM programs are no different. With ABM, it's crucial to not only establish what you're aiming to achieve but also to consider how these goals can be segmented into short-term wins and long-term successes. The important thing to keep in mind here is that significant results won't materialize overnight. ABM takes time.

Examples for possible goals:

Identify and Prioritize High-Value Accounts: Identify and prioritize a list of 20-30 high-value target accounts based on revenue potential, strategic alignment, or market influence.

Engage Key Decision-Makers: For each target account, aim to engage with at least 3-5 key decision-makers or influencers through personalized communication strategies.

Increase Account Engagement: Achieve a 25-50% increase in engagement metrics (e.g., website visits, content interactions) from targeted accounts over a 3-6 month period.

Generate Qualified Leads: Generate at least 10-15 highly qualified leads from your list of high-value accounts within the first quarter of the pilot.

Advance Deal Progression: Move 30-50% of targeted accounts to the next stage in the sales cycle within a specific timeframe, such as 6 months.

Improve Account Penetration: Increase the number of engaged contacts within each targeted account by 20% or expand into 2-3 new departments/functions within these accounts over the pilot period.

Achieve a Specific ROI: Aim for a specific ROI from the ABM pilot, such as generating 3x the amount spent on the ABM campaign in revenue from targeted accounts within 6-12 months.

Enhance Customer Experience and Satisfaction: For targeted accounts that are existing customers, aim to improve customer satisfaction scores or Net Promoter Scores (NPS) by at least 10 points through tailored engagement and support initiatives.

Increase Social Media Engagement: Target a 40-60% increase in social media engagement (likes, shares, comments) from individuals within targeted accounts over a 6-month period.

Content Interaction Goals: Aim for a 50% increase in downloads or interactions with key content pieces (e.g., whitepapers, case studies) from targeted accounts within the first 6 months.

Meeting and Demo Goals: Schedule at least 20-30 demos or discovery meetings with decision-makers from your targeted accounts within the first quarter.

Conversion Rate Goals: Improve the conversion rate from lead to opportunity for targeted accounts by at least 15-25% over the duration of the pilot.

Are you ready for ABM?

Are you ready to navigate this pivotal change and embrace the full potential of ABM in aligning sales and marketing efforts for more strategic, targeted engagements?