RV137 - Account-Based Marketing: Strategies and Challenges in B2B Revenue
Jan 30, 2024
auto_awesome
The podcast discusses the importance of account-based marketing (ABM) and its relation to technology. It explores the drawbacks of traditional marketing efforts and emphasizes the need for a holistic approach in go-to-market strategies. The conversation highlights the value of segmenting accounts and the use of technologies like ZoomInfo and Demandbase. It also explores the future impact of AI in workflow automation and content production.
Account de-anonymization is crucial in account-based marketing to capture intent and personalize outreach.
Understanding successful and unsuccessful customers helps tailor account-based marketing efforts.
Fixing data gaps and inaccuracies in Salesforce is essential for effective decision-making and strategy development.
Deep dives
Focus on account de-anonymization to capture intent
One key tip for companies looking to refine their approach to account-based marketing is to focus on account de-anonymization. This involves identifying the accounts that are visiting your website and knowing which pages they are viewing. By de-anonymizing this account data, you can trigger actions to capture their intent and follow up with personalized outreach, such as a meeting request with the exact sales representative for that account.
Understand the value of successful and unsuccessful customers
To effectively implement account-based marketing, it is crucial to understand the value of both successful and unsuccessful customers. Take the time to talk to your top five to 20 customers and identify what makes them successful. Similarly, gather insights from your bottom five to 20 customers to understand why they are unsuccessful. By comparing the patterns and insights from both groups, you can identify key factors that contribute to customer success and tailor your account-based marketing efforts accordingly.
Fix data gaps and inaccuracies in Salesforce
A critical step in implementing account-based marketing is to fix data gaps and inaccuracies in Salesforce. Make it a priority to have complete, accurate, and usable data within your CRM system. This will enable you to make informed decisions based on reliable data analytics, instead of relying on incomplete or conflicting information. Having a comprehensive view of your data across the entire go-to-market team is crucial for effective decision-making and strategy development.
Focus on webinars and virtual events for high ROI
When allocating your events budget, prioritize webinars and virtual events over large trade shows and conferences. While many companies spend a significant portion of their budget on trade shows, the tangible results often come from webinars, which can be more cost-effective. Consider shifting your investment towards high-performing virtual events and webinars that generate better ROI compared to traditional events.
Scrutinize and refine your go-to-market strategy
Take a critical look at your go-to-market strategy and identify areas for improvement. Avoid operating in siloed departments and work towards integrating marketing, sales, and customer success into a unified go-to-market team. Scrutinize your investments and channels to ensure they align with your desired outcomes and customer needs. Constantly refine and optimize your strategy to enhance productivity and drive results.
Chris was a guest on the Marketing Dribble podcast, hosted by Jonny Kenyon and Rob Boyle, to talk about Account-Based Marketing. The show starts with an enlightening prelude where he sets the scene for a comprehensive discussion, addressing the pivotal aspects of ABM such as account selection, tiering, and the tactical execution that drives technology, advertising, and outbound efforts.
Chris lays down an analogy comparing go-to-market strategies to manufacturing operational efficiencies, highlighting the waste and lack of synchronization in conventional marketing efforts. He stresses the need for a collective approach, championing a phased strategy that encapsulates creating demand, capturing intent, converting pipeline, and account expansion. Throughout the episode, the conversation swivels seamlessly into the intricacies of ABM and how businesses, irrespective of their acknowledgment, leverage some form of this strategy.
Thanks to our friends at Hatch for producing this episode. Get unlimited podcast editing at www.hatch.fm
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode