155: How To Run a Lean ABM Program (w/ Mason Cosby, Scrappy ABM)
Jan 17, 2024
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Mason Cosby, founder of Scrappy ABM, discusses the importance of aligning marketing and sales strategies in account-based marketing (ABM). Topics include lean ABM, collaboration between sales and marketing, measuring and monitoring ABM success, implementing ABM strategies, roles and ownership in ABM, and balancing data-driven decisions with gut instincts in marketing.
Aligning sales and marketing strategies is crucial for successful account-based marketing (ABM) programs.
A scrappy ABM approach allows companies to start ABM initiatives with limited resources and gradually scale their efforts.
Tracking metrics such as open rates, click-through rates, and revenue sourced from target accounts is essential for optimizing ABM strategies.
Deep dives
The Importance of Aligning Sales and Marketing Strategies
Aligning sales and marketing strategies is crucial for business growth. By aligning these two departments, organizations can avoid the failure of account-based marketing (ABM) programs. ABM is a B2B growth strategy that focuses on shared target accounts. It requires collaboration and shared goals between marketing and sales teams. Starting with small activation plays to prove the program's worth and improve sales and marketing alignment is recommended. This approach is cost-effective and allows organizations to validate messaging and optimize their processes.
Defining ABM and Its Core Components
ABM stands for account-based marketing and is a B2B growth strategy that aligns marketing and sales efforts around a set of shared target accounts. ABM is not limited to advertising, but rather a comprehensive approach that focuses on marketing and sales collaboration. It involves identifying target accounts, understanding their needs, and delivering a tailored message that resonates with their specific challenges. Successful ABM requires marketing, sales, and customer success teams to work together towards shared goals and provide value to the target accounts.
The Benefits of a Scrappy ABM Approach
A scrappy ABM approach allows companies to start ABM initiatives with limited resources and investment. It emphasizes the importance of getting initial wins without relying heavily on expensive technologies. Building an activation play, which leverages existing data flow and actions taken by prospects, can be an effective way to kickstart an ABM program. By validating messaging and optimizing outreach, companies can gradually scale their ABM efforts and explore different channels and tactics based on specific buyer profiles and preferences.
Key Metrics to Track for ABM Success
For activation plays, metrics such as open rates, click-through rates, and meetings booked are important to track closely. These metrics reflect the effectiveness of outbound messaging and engagement efforts. In an ABM program, tracking account-level engagement, pipeline generated, and revenue sourced from target accounts are crucial. These measurements provide insights into the impact of ABM strategies and help refine the approach. Regular tracking and analysis of these metrics allow for continuous optimization and improvement.
How to Approach ABM Implementation
Implementing ABM involves identifying a target account list and determining the most effective channels and tactics to engage those accounts. Outbound messaging can be a successful starting point, followed by personalized landing pages, customer-specific content, and exploring buyer enablement approaches. ABM implementation requires a dedicated ABM manager or a marketing lead with executive sponsorship, working closely with sales leaders. It is essential to align marketing and sales efforts, experiment with different approaches, and continuously optimize the program for predictable performance.
In this episode, Mason Cosby - founder of Scrappy ABM, shares the importance of aligning marketing and sales strategies for business growth. If want to learn more about ABM or want a way to start small and run a "lean ABM program", this episode is for you.