Celia Slack, Pursuit Marketing Lead at ServiceNow, dives into the world of Account-Based Marketing (ABM) and Pursuit-Based Marketing (PBM). She discusses the distinctions between ABM and PBM, emphasizing the need for agility and collaboration between sales and marketing. Celia shares insights on implementing successful ABM programs, the challenges of reporting, and how generative AI can elevate marketing strategies. Her take on One-to-many ABM and the importance of managing key accounts is particularly enlightening!
Pursuit-based marketing enables swift responses to specific opportunities within larger accounts, enhancing the overall effectiveness of traditional account-based marketing strategies.
Leadership buy-in is vital for successful ABM initiatives, ensuring long-term support and enabling effective resource allocation for sustained growth.
Deep dives
The Role and Evolution of Pursuit Marketing
Pursuit marketing is an emerging facet of account-based marketing (ABM), designed to address specific opportunities or challenges within larger accounts. This approach allows teams to focus on targeted initiatives that are more dynamic and timely compared to traditional ABM, which is generally a longer engagement. For instance, pursuit marketing enables practitioners to react swiftly to deal-based opportunities or critical changes in customer relationships caused by factors like leadership transitions. By adopting this strategy, teams can manage more accounts within the same period while maintaining a strong connection to the overarching ABM framework.
The Significance of Leadership Support
A strong commitment from senior leadership is crucial for the success of ABM initiatives, and it separates high-performing teams from others in the field. Leadership buy-in not only facilitates resource allocation but also establishes the long-term nature of ABM, which demands time and patience to yield significant results. In the case of companies like ServiceNow, early success stories helped secure ongoing support from both sales and marketing leaders, fostering an environment conducive to growth. This highlights the inherent challenge for many organizations, as they must balance short-term results with the longer timelines typical of effective ABM.
Customization and Personalization in Account Engagement
Effective account engagement requires a high degree of customization tailored to the specific needs and situations of each client. By analyzing factors such as account goals and challenges, marketing teams can create unique experiences that resonate with individual businesses. Although this level of personalization can pose challenges in terms of scalability, identifying common patterns across accounts can enhance efficiency without compromising quality. For instance, adjustments in messaging based on client familiarity with a service can help overcome hurdles in client relationships and lay the foundation for deeper collaboration.
Measuring Success: The Importance of Comprehensive Metrics
Measuring the effectiveness of ABM campaigns goes beyond simple revenue metrics; it requires a holistic approach that includes reputation, relationships, revenue, and importantly, retention. Retention can often be the most crucial aspect, as nurturing existing customers is typically more cost-effective than acquiring new ones. However, effective reporting remains a challenge, as teams often rely on a combination of manual and automated methods to gather insights. Establishing relevant metrics and proof points is essential, as these provide tangible evidence of ABM progress to stakeholders while also managing their expectations.
In this episode of Let's talk ABM, we speak with Celia Slack, Pursuit Marketing Lead, EMEA at ServiceNow. As a specialist in Account-based Marketing, Celia has global end-to-end experience gained from some of the world's leading Technology, Financial Services, and Consumer brands. She has recently assumed a new responsibility at ServiceNow, as Pursuit Marketing Lead, EMEA, and shares her learnings to date with us.
Watch this episode and learn:
What is Pursuit-based Marketing (PBM)
How PBM works in tandem with ABM
What is behind the successful ABM program at ServiceNow
Her take on One-to-many ABM
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