ABM

by Jon Russo Jon Russo No Comments

Retention Framework – 4 helpful tips

TLDR; B2B Customer retention is #1 priority. Audit your message cadence and data situation, outline your customer journey, message according to journey, plan for long term. Outsource aspects if needed. Learn more on Friday.

For B2B Sales & Marketers, you’ve heard recession comparisons between today’s global pandemic and that of 1991, 2001, and 2008. In those years, some companies experienced a downdraft in hiring as well as pull backs on discretionary expenditures as a function of decreasing top line revenue. Also in those years, a strong pivot was made to ‘hug your customers’ theme because the cost of acquiring new customers would go through the roof versus holding onto what you have on hand.

Today is no different. Several companies are going through a revenue re-forecasting exercise or suspending their 2020 forecast altogether, and you are likely experiencing this by being asked to make cuts in your digital acquisition sales and marketing programs as well.   

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TrustRadius’ recent survey outlining which SaaS solutions would be impacted the most in this new environment. Marketing and Sales Technology are two of the top four categories expecting a reduction in software expenditures.

There seems to be a strong pivot towards hanging onto existing customers. Sam Jacobs from RevenueCollective recently polled 119 B2B companies across the US and found that in about 57% of the cases, churn has increased significantly from the prior period, heightening this need for marketing to focus on existing clients. It would stand to reason that companies that are selling MarTech or SaleTech would be likely feel these churn rate increases the most right now.

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Marketers for years have been focused on the purchase of new technology to acquire more customers, faster than ever before. Much of a Marketer’s board level reporting is built around “acquisition language” – Marketing Qualified Leads, Marketing Qualified accounts, Demand Generation – all assume new account acquisition to work hand in hand with sales. Sales and Marketing Compensation is often tied to this success which widens the gap further. Marketers are not focused on customer marketing strategies because they haven’t had to be nor have they been rewarded to be.

While many SaaS based organizations have invested in Customer Service as a function, few have perfected their marketing outreach strategy to existing customers through this organization – in large part due to the marketers extreme focus on acquisition. CS has thus been relegated to more tactical regularly scheduled meetings to keep in touch with customer needs, but often times those meetings are conducted at the end user level.

Thus a skills and knowledge gap exists between Marketers conditioned to do acquisition marketing along with customer marketing. Marketers are now learning new skills and have to really think through the messaging around retention. Where does a Marketer start?

Step 1 – Audit.  Keep in mind that their customers are getting hammered by competitors, partners, and analysts on other alternatives to their product during the lifecycle they are a customer – so a Marketer should start with a self assessment to find out how frequently and what kinds of communications have been going out to their customer base in times prior. In addition to messaging frequency, a data audit of the types of contacts in the account should be done – end users vs. decision makers within the database. Remember that a happy end user in this environment may not necessarily translate to a renewed contract.

Step 2 – Journey.   Marketers in parallel need to make sure they are thinking about the account journey their customers are experiencing relative to their renewal. More specifically, like a funnel that is split into 3 sections, a Marketer might want to think about the initial onboarding process, the middle phase, and final phase of renewal.   

Step 3. – Message. Next Marketers will want to revisit their message as a function of where the client is in the account journey. Corporate Visions’ Tim Riesterer wrote an excellent book ‘The Expansion Sale’ provides multiple frameworks on how to communicate with customers AFTER the purchase. He suggests looking into ‘Why Stay’ language vs ‘Why Evolve’ language.

Messaging Journey

In both cases of those phases starts with documenting the results that you’ve had with customers. This almost has to be done at a CS or individual level, unless Marketers can somehow aggregate typical wins that similar clients have gained from using their product.

It is difficult to summarize Tim’s 200 page book in a paragraph, but his firm Corporate Visions has done some extensive research in the areas of messaging and it is well worth reading.

Step 4 – Plan. Marketers could also consider building a community of end users to make their product more sticky. But that type of initiative is not a light lift, it requires planning to operationalize, investment in platforms (like Salesforce.com or HigherLogic) and an executive commitment to successfully pull off.

Somewhat self-serving but if capacity is an issue to pull all this off, of course hiring outside agencies to help accelerate your process to improve your retention will be key. Regardless, this kind of framework could help Marketers plan their retention strategy.

What are you finding that works right now on your retention strategies?

by Jon Russo Jon Russo No Comments

Marketing v Sales – ABM Perceptions

Very few companies do a pure Account Based strategy, most augment with a lead strategy.  When small or large companies do embark on this AB strategy through a Marketing led initiative, Sales and Sales Leaders may have preconceived notions of Marketing behavior or what is expected of Marketing.


Here are helpful tips on what trends we see in Enterprises who are event driven that need more help with changing the perception that Marketers are strategic in nature.

Typical “Good” Marketing behaviors working with Sales that we’ve observed

  • Work together on an Account Based weekly stand up meeting (#1 recommendation, Engagio CEO Oct 2019)
  • Be data driven on recommending Accounts for tiers/prioritization/selection – intent data or whitespace reports can assist in this effort.
  • Start small together – pilots, a few accounts, get wins, etc.
  • Provide ‘Marketing treatment’ options across tiers of accounts rather than a ‘pool of money’ approach toward these tiers.
  • Drive towards Marketing influenced reporting for existing accounts vs. sourced revenue
  • Work primarily with Sales Leadership so you have a better chance at scaling.  Leverage your Marketing leaders to reset expectations with Sales leaders if needed.

Typical “Not So Good” Marketing behaviors working with Sales that we’ve observed over the years:

  • Avoid doing administrative work on behalf of sales (meeting coordination, etc.).  You are not a sales assistant.
  • Let Sales do all the account selection without a Marketing point of view – major red flag, they’ll give you their hardest or worst accounts because they don’t want Marketing involvement, we’ve seen this before.
  • Provide a ‘pool of money’ concept where they are deciding how to spend your budget
  • Realize that with Marketing Sourced Reporting you are picking a battle when you choose this metric, the battle being: did Sales source this account revenue or did Marketing source it?  Make sure your processes and data ducks are in a row else risk measurement credibility.
  • Work with account executives on formulating an account based strategy – it will not scale.  Each deal will have unique experiences.   This may require executive Marketing leadership to reset expectations.

What is working for you in your interaction with Sales?

by Jon Russo Jon Russo No Comments

Intent Data – what is it?

What are the business benefits of Intent data?

Improves conversion odds. Intent helps your sales team identify which accounts are more likely to be interested or ‘in market’ vs. others, thus increasing the odds of successful pipeline conversion.

Prioritizes large number of accounts for sales to work through. When there is a one to many approach that your sales team is tackling, Intent data helps prioritize which accounts are more likely expressing some level of interest in your topic/product vs. other areas. 

Enables account targeting with appropriate nurture campaign air cover and/or banner interest based on account need. Intent data can trigger use cases of better web banner advertising (e.g. a surround sound effect on targeting) and improved nurturing odds based on what an account is actually interested in.

Improves ROI/utilization of existing Marketing & Sales Technology. Intent when integrated with the marketing automation or CRM platform can be used in a more aggressive way than using those same platforms without intent data.

There are a variety of intent data providers – G2 Crowd, Bombora, Big Willow (recently acquired), & TechTarget to name a few.

How are you using Intent Data?

 

by Jon Russo Jon Russo No Comments

#TOPO summary – ABM 2019

Today’s post is a Guest Contribution by Jennifer Metherell. Jennifer has recently attended the TOPO conference and summarized the trip on what she learned relative to her 50+ ABM experiences.

1) Embarking on the ABM Journey – every successful organization who has effectively built an ABM practice all had one common theme – START SMALL!  All of the organizations who shared their stories chose 3-5 accounts who they could sell more solutions too or a large solution too and ran well-orchestrated plays to them for both new or existing logos.  The main reasons they did this: 

  • Limited resources to execute internally 
  • Pilots were run to get sales and marketing aligned on simple common goals
  • No technology buys needed to execute 

2) Forget the Funnel – As customer experience plays a stronger role in differentiating your product and reduces churn, more and more organizations are ditching the concept of the Funnel for a holistic approach to customer acquisition and expansion. They are looking at more at their customer relationship as a loop and understand that growth and sustainability come from a symbiotic view.  This viewpoint also helps pave the way for more internal groups to work together with a single account plan from sales, to implementation and on to account management.  The traditional funnel is great for transactional relationships but lacks the structural needs to make the customer first a strategy in the organization. 


3) MQL – So long, farewell, we hate to say goodbye!  Ok let’s face it the concept of the MQL is needed as a first step in getting Sales and Marketing working together, but really this is just a mechanism for building a better path of KPI’s. TOPO was the first place I have seen a widely accepted and commonly spoke about the concept of the MQA. Organizations who are focused on targeting ICP accounts understand that more than one person buys and if you are waiting for inbound then you are probably too late.  It was refreshing to see so many talk about driving engagement with the right accounts and people and use pipeline created or closed as the metrics they report. However, this does imply that Marketing is aligned with Sales and they jointly agreed to an ICP, target lists as well as a process for working accounts. In addition, this new process is fully supported by a newer set of tools in the marketing place like provide insights – intent data, account level engagement, and account scoring. 


4) Intent Data – If you are waiting to drive inbound leads you are late for the party! Intent data is finally maturing along with a set of best practice business process for implementation.  Forward thinking and high growth companies have developed the following practices within their organization:

  • Jointly defined an ICP with C-Suite, Sales & Marketing 
  • Understand the personas and playbooks for gaining market share
  • Purchased tools to show intent along with engagement for creation of an account score to prioritize with sales and marketing 

Just like that co-worker who does not sit and wait to be promoted through years of service, people using intent data ensure market growth by outmaneuvering their competitors. Seeing this stuff is sooooo cool. It reminds of when we first got Marketing automation and were like “Oh my gosh we can see who opened our emails!” Thank you 2005 – LOVE THIS STUFF


5) Shared organization strategies for driving alignment with sales and marketing while totally crushing it: 

  • SDR/BDR whatever you want to call it lives under marketing but is paid by a sales comp plan 
  • Sales and Marketing start annual planning together by developing an organization whitespace report 
  • Marketing understands and has accountability against the revenue targets the same way sales does 

We’re really passionate about ABM – if we can be a resource to you, let us know how!

by Jon Russo Jon Russo No Comments

Part 2 – Account Based Measurement

In our previous post, we outlined a maturity curve for measurement.

Today we dive more deeply into ABM Measurement.

Stage 1 “Undergraduate”

  • Account Based Basic Measurement – sometimes done in conjunction with Stage 1, this is where the SiriusDecisions 3.0 Account based measurement model begins to come into play with account level attribution.  
  • The most common measurement value we are hearing that Marketers are reporting up to their boards or CEO level on in this stage is that of Account Engagement within certain tiered accounts (Marketing Engaged Accounts).
    • An alternative to this measurement are ‘meetings within target accounts.’
  • The advantage of displaying this stage is one of unifying a view from both sales and marketing vs. the earlier models of celebrating marketing attribution on what could be low overall closing performance.   It also has the benefit of being a leading indicator of pipeline creation and actual revenue produced from ABM initiatives.
  • Other funnel measurements can be installed based on account status values leading to/through an opportunity stage.   Rather than snapshots of engagement, it’s also more valuable to show the trend of engagement over a period of time (from the last board meeting) to show progress. 

Stage 2 “Masters”

  • Advanced Account Based Measurement where sales and marketing channel effectiveness can be tested more deeply than that of other stages referenced above – this approach could leverage Engagio’s DASH product where ALL of sales and marketing activities are rolled up against the account with ‘fractional’ influence measurement models that can vary depending on how the user configures the attribution across all sales and marketing activities.   Why this approach may be helpful:

  • This measurement includes digital aspects that are commonly measured today, physical aspects (like face to face meetings) as well as velocity.
    • There is the ability to weight different elements of the buying process (persona, type of campaign and/or type of activity) such that an end user could test different models for the optimal weighting and scoring method.  We’ve seen other technologies get to a similar destination but through alot more business process change and engineering to get to the destination
    • A look back capability measuring any activity or campaign over a specified period, giving a client the ability to model different weighting structures and different minutes (although that ability would take some manual effort, it’s doable).
    • In most cases, all account activity is rolled to an account, including that of anonymous web traffic which is frequently missed by other measurement tools, valuable for those enterprises using Eloqua, Pardot, and Marketo.  This is valuable information to also aggregate in the overall activity of the account.
    • The ability to measure activities that precede a business outcome specified by the end user – for example:
      • Activities that precede an actual purchase
      • Activities that precede an opportunity creation
      • Activities that precede a meeting or MQA

It’s also easy to use.  We’ve been engaged with other measurement solutions that require either a massive process overhaul change impacting all users of a system (like Salesforce) and/or technical SQL programming that are robust yet resource intensive.  The ease of use of this native Salesforce deployment which works in either classic or lightning makes it appealing on several levels.

What are you finding valuable in your marketing measurement as it relates to ABM if you are in the mid-market?

by Jon Russo Jon Russo No Comments

Account Based Measurement, Part 1

Marketing measurement is a passion of ours at B2B Fusion based on these prior posts.  We’re starting to see more advanced business impact capabilities for Account Based Measurement that are valuable for Marketing executive reporting at the board level – and a maturity curve is starting to emerge in measurement that spans both lead based systems as well as Account Based systems.

There are also a number of measurement systems in today’s market ranging from Excel to (expensive) Google 360 to companies that dedicate themselves to measurement like Bizible, Full Circle, Proof Analytics, CaliberMind, Hive9, Strala, and Engagio among other measurement solutions that use BI from a data lake (Looker, Domo, etc.).   It’s impossible to cover all alternative measurement vendors in this one blog post.

There is a maturity of measurement in organizations as it relates to ABM and assumes a mid market (sub $500mm USD total revenue or less) company.  I’ll use ‘education’ levels as an analogy to explain.

One important “pre-requisite” for any stage – proper business process must be installed to have tangible as well as credible results. We’re running on a big assumption explaining these levels that you’ve already got the right business process in place. Data hygiene is a secondary pre-requisite. Where data goes bad at 2-3%/month according to Salesforce, proper attribution is only as good as the underlying data.

Stage 0 “Associate Degree”

  • the Sirius 1.0 or 2.0 model which is person or lead based, single then multi-touch attribution.  This seems to be the minimum several SaaS companies or mid-market clients already have installed where Marketers are progressively being measured on opportunities sourced from Marketing.  It’s become a familiar metric to boards with CAC (cost of acquisition), LTV (lifetime value) and related measurements.
  • There are typically either single or multi touch models.   The model leverages marketing automation and Salesforce.com, with some shortcomings in measurement but is a bare minimum measurement system in either a first or last touch model.  Companies like Bizible (now Marketo) and Full Circle Insights overcame single touch shortcomings with a multi touch digital and campaign attribution in their respecitve service offers to follow closely with the 1.0 and 2.0 models.
    • One example of multi-touch is a vendor like Full Circle, where there can be a variety of different ways to measure touches (linear, U shaped, W shaped, etc.) to attribute the campaign effort.
  • In this stage of measurement, there is no need yet to measure Account Based Marketing.   There may be a need to keep a lead based measurement alongside an Account Based structure which leads to the next stage.

In our follow on post, we’ll look at stages 1 and 2.

If you have feedback on what works well for you in stage 0, please let me know.

by Jon Russo Jon Russo No Comments

Adobe’s Account Based Marketing Experience (ABX)

(Full disclosure – we were recently named an Adobe Insider and have been a long standing partner of Marketo, neither of which influence our point of view below.  Our expertise is Account Based Marketing in/around Marketo offer for B2B, so you’ll see that point of view reflected below).

Adobe announced an initiative to aggressively go after an ‘Account Based Experience’ because customers buy experiences, not products, according to the CEO of Adobe.  Adobe views the Account Based Experience encompassing Sales, Marketing, and Customer Support.

Adobe is 5 months in their B2B acquisition of Marketo (and about 9 months into Magento) but at their recent summit, they had a number of announcements relevant to B2B that we summarized in this video:

Let me add more color as to what we saw.

Here is what is most significant to me coming out of the show as it relates to Account Based Experience – I see all sorts of possibilities with Adobe’s vast resource base, it’s enterprise customer focus, and it’s strong relationship with Microsoft who owns LinkedIn. More specifically:

  • Adobe can potentially leverage their Test & Target product to push relevant content to websites that are specific to end user need, thus personalizing an ABX experience.  The price point may need to come down as T&T is enterprise grade, Marketo is more mid-market focused.  But the promise here is very strong.
    • Demandbase was also referenced as a strong intergration partner;  in theory, integrating Test & Target with Demandbase would drive that customized content experience for ABX.
  • With an Account Based Conversation integration with Drift, a conversation can be had via chat that is relevant to the buyer who is on the receiving side of chat – for example, an initial chat with a ‘C’ level executive may have different content track to start with a ‘non-C’ level within a target account.
  • LinkedIn
    • While it was not entirely clear what the exact relationship would be, we are guessing it will allow the ability to pass users to target from the sales team’s Sales Navigator licenese to a company’s LinkedIn’s ads.
    • There may be some limitation here on the number of ads or contacts that one can reach.  This integration sounds promising but more needs to be seen here beyond the press release.
  • With it’s announcement of LiveRamp and Demandbase, Adobe Marketo users can now target companies via ads that are in those respective networks.
  • CDP development
    • While they used the words CDP (Customer Data Platform), as a creative company, it was not entirely clear to me what they intended or meant.  It is a Marketing buzzword but it is indeed the right direction for a B2B for Account Based Experiences where all data from all touch points is aggregated, orchestrated, then focused towards end users.

I think what excited me most about Adobe is they have wasted no time digging into understanding how Marketo can enable them to reach new markets or be combined with existing technologies to drive a deeper, rich ABX experience.  Having witnessed other marketing automation provider acquisitions, this one seems to have moved significantly quicker with a more unified vision than that of other similar-sized acquisitions. 

Five months into an acquisition isn’t very long, though. It’ll be interesting to see what the next year holds in store with Adobe and the progress they make against their own objectives.

by Jon Russo Jon Russo No Comments

What should I measure in Marketing?

As I mentioned in a previous post, as a former CMO with a passion to measure marketing impact on the business, I’m often asked by others ‘what should we measure in marketing?’  Let’s dive deeper into ideas of what to actually measure.

We typically see two models depending on whether you are trying to take business decisions from measurement OR if you are trying to ‘account’ (or justify) marketing investment.

Model 1 – CEO/Board reporting

  • If your board of directors or CEO are interested in marketing reporting, they are going to care a lot about cost of acquisition, particularly in SaaS based companies. Lifetime value is also a valuable metric to consider when it comes time for acquisition costs – in a SaaS model, measuring lifetime value by cohorts can be helpful.  These are typically manual measurements vs. system measurements.
  • The cost of customer acquisition, particularly in SaaS based companies is a manual calculation vs. a system calculation yet is very valuable for board level reporting. This acquisition can be more valuable if done by cohorts.
    • It goes without saying the CAC to LTV ratio from the above figures is also worth showing a trend on.
  • In the maturing stage of a SaaS company (i.e. beyond 7 years old), they’ll eventually want to see a decrease in total marketing investment relative to that of revenues – ideally revenues should be climbing at a significantly faster rate at that point relative to that of marketing investment.
  • Measuring performance in cohort retention in SaaS models are a must do – but again need context. Often times we’ll hear of 90% annual retention rate celebrated yet if you look at the cohort retention rate over say a 3 year or more span, the retention rate in cohort will average more like 66%.  Marketing has a huge upside in influencing retention in these longer cohort areas as a small change in retention adds to a substantial bottom line improvement; however, most marketers have very little incentive to invest their time here vs. acquisition.  This is where looking at compensation plans is critical.

Model 2 – Head of Sales/ Marketing Reporting

  • Sales may be more interested in what you in marketing are sourcing although in our experiences, this conversation can be tricky with a head of sales because you are ‘accounting’ for how a deal gets sourced – be careful with this one politically!
  • For those Account Based Marketing fans, Account engagement could be another CEO or Sales metric to measure – we’re seeing that boards of directors in SaaS companies are not yet asking for this metric, yet for an account based strategy, it is a leading indication of success.
    • Account engagement can be measured a number of ways or tiers – from an account with a contact that has some level of engagement beyond an email open (for example, download, webinar attendance, booth visit, demo – a ‘success’ metric’).
    • It can also be measured as an open stage 0 or stage 1 opportunity against the account, preceded by some period of time with a campaign attached to the contact related to the opportunity.
  • If you are measuring a lead based approach, there can be a variety of models to consider – first touch, last touch, and multi-touch are the most common.
  • Multi-touch attribution is best handled by 3rd party software in addition to you your marketing automation platform and CRM system. For multi-touch attribution, there are a variety of models to consider – even touch across all points, a W touch model, or you can with some software packages rank/rate the touches based on frequency.
    • In our client base, we have experienced vendors like Full Circle, Bizible, Terminus, LeanData, Engagio, and Calibermind to name a few.  Each have its strengths and weaknesses.
    • We also see Tableau or a visual tool layered ontop of an SQL database.
    • Lastly, Excel which has been around since the 1800s is also a tool we see deployed (just seeing if anyone actually reads these posts lol).

What are you measuring in Marketing today and how are you measuring it?

by Jon Russo Jon Russo No Comments

5 Foundational Questions of Marketing Measurement

5 Foundational Questions of Marketing Measurement

First of a 2 part series. 

As a former CMO with a passion to measure marketing impact on the business, I’m often asked by others ‘what should we measure in marketing?’   The temptation is to race right to the visual presentation level of dashboards.   However, it’s best to start with getting context.

While it’s probably the right question to ask, it’s often a difficult question to answer without context.  However, there are usually common questions to consider on the journey to this answer.

  1. Let’s start with the first one – what is your reporting objective?

There are two typical models of reporting objectives – first is to make business decisions from the reporting, the second is to make Marketing as a function that is accountable for their impact.

Our next article will dive more deeply into what to actually measure.

  1. What role are you in?

This can be complex – if you are ‘doing the work’ vs. ‘delegating the work’ there is a tendency in our clients of ‘doers’ to provide vanity metrics to their boss – web page visits, clicks, downloads.   ‘Doers’ that get promoted make that vanity metric connection to business impact – retention rates, new revenue growth, etc.  ‘Doers’ that also ask to get their compensation tied to pipeline performance are ahead of the curve relative to their peer set.  If you are the ‘C’ level leader of Marketing, the next post will dive into what exactly to measure from a business impact perspective.

  1. Who owns Salesforce?

This is a key question because getting marketing attribution done right relies on Salesforce process and methodology.   If marketing is the ‘owner’ which we find in about 30% of the cases, the ability to orchestrate change is much easier.  As a ‘guest’ in Salesforce, you then rely on others to help you execute that change.   Dashboarding inside or outside of salesforce could also be a function of who owns it and where is the information most credible.  We typically recommend dashboarding inside Salesforce.

  1. What state is your data in?

With data decaying at 3%/month due to people changing jobs (in a good economy!), a database without governance is like ordering a year’s worth of milk supply at your home thinking you will be good forever on your milk diet.  Data is at the heart of sales effectiveness, marketing effectiveness, and inside sales effectiveness – so much productivity is lost here because ‘no one owns the data’.  This is a critical function that also drives attribution.  So it’s prudent when measuring to know the exact state of your data.  We often recommend creating a dashboard for this data.

  1. What is your selling motion?

Are you a transactional sale?  An enterprise sale?  A sale involving partners?  A sale that has cold to qualify with a BDR function?  Each of these has dramatically different attribution needs and/or use cases in measurement.

 

What are you seeing as common questions or issues in measuring marketing?

by Jon Russo Jon Russo No Comments

Myths of Account Based Marketing

I recently compared notes with Kelvin Gee, Sr. Director of Modern Marketing Business Transformation at Oracle, on myth’s on Account Based Marketing.  Even though Oracle owns Eloqua, his points are quite valid across any size company using any automation platform.

  • Kelvin: The first myth is that account-based is only for big accounts, and while that might be true, that’s where the account-based is most intense, with the data and processing technologies today we can scale account-based all the way down to pyramid. So not just the tip of the pyramid but the middle layer and the bottom layer. So account-based at scale is what we’re trying to prove out today.
    • Jon’s opinion: Kelvin makes a great point for non-transactional, b2b purchases, in theory ABM can extend throughout the funnel.  The challenge is scaling in a personalized way throughout the funnel, as well as prioritizing the most meaningful accounts in the funnel.

  • Kelvin: The second myth is that account-based is just a tactic. Sometimes people think that, oh if we just run an executive event or dinner for particular account, that’s account-based, but no, account-based is actually a strategy, a fundamentally different way of how marketers do business and it takes a different approach in terms of who you’re focused on, the tactics that are in play, the orchestration with the sales and then how you measure your stuff is completely different. So that’s why it’s really a strategy and not just a series of tactics.
    • Jon’s opinion: another great point here by Kelvin and one where we see a number of other outside agencies ‘muddying up’ the tactics of ABM vs. defining a true ABM strategy.  Thinking through the right plays and right treatment for types of accounts is a much different thought process than executing a tactic.

 

  • Kelvin: The last myth is that most people call it ABM, and what we’re trying to do is change the nomenclature internally because if we just say account-based marketing or ABM, sales will just think, it’s just another marketing campaign, it’s the campaign of the month or campaign of the day and again, if account-based is truly a strategy that aligns different parts of the organization including sales and customer success teams, as well as other parts of the organization, service as well, we can’t call it account-based marketing, because it implies only one part of the house and it just reinforces the fact that this is another campaign and we don’t wanna do that so we’re fundamentally calling it account-based or account-based strategy, so those are three myths that we’re trying to debunk here at Oracle.
    • Jon’s opinion: the definition of ‘account based’ can vary wildly by company.  It’s wise to get sales and marketing in a room to really define what the account based definition is, what the treatment is, and what the expectations are.  Measurement helps, too.

 

What kinds of myths are you busting?