We recently hosted a webinar together with Thomas Roser, VP Field Marketing of PTC, Michael Bayler, author of The Liquid Enterprise and myself. We explored the Account Based Marketing journey and where different people find themselves on this journey, as well as our learnings during almost ten years in the business. Listen to the full recorded session here.
So as it's Christmas and we are all very busy, we thought we would share it in a short and easily digestible form, complete with some observations from the last year.
1. Readiness for significant change
Account Based Marketing is not just tools and technology. It is a method and a way of sales and marketing working together, probably requiring new ways of measuring success, which in turn can require organisational change.
2. Marketing willing to share responsibilities for revenue
In some companies marketing has been viewed as a cost centre that generates leads, organises events and has no direct bearing on revenue. This should no longer be true; ABM represents an opportunity to support sales in the pursuit of revenue. There is a good and bad side to this; the good is that marketing can now receive recognition for their hard work and contribution, the bad is that marketing has to risk that they really can make a difference and be measured on it.
3. Sales needs to share the glory
If sales want marketing's ABM help, then they have to understand that quality is now king, not quantity and adjust their expectations from lots of leads, to a few very good ones that marketing will help close. Equally importantly marketing need to get some credit for driving revenue; sales cannot be the only heroes.
4. Digital maturity
To fully realise the potential of Account Based Marketing, you must have the digital know-how inside the company. Digital maturity might be an elusive term but what it really means here is, does the company have a holistic view of its digital footprint? Does the company know and understand its website visitors, is this data married with SEO/SEM and the progress of the accounts through the sales funnel? Do these insights get shared with sales?
There are a lot of flavours of ABM and quite a few pitfalls. So if you have any questions please do ask us, as in nearly 10 years of implementing ABM, we have encountered just about all of them.
And from all of us here at Vendemore, we wish you a Happy Holiday! David Ratcliff
Managing Director, Vendemore