The Magic ABX Potion – Key Elements to Think About When Creating Your ABX Strategy for 2023
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The document outlines a comprehensive strategy for an Account-Based Experience (ABX) aimed at aligning sales and marketing efforts. It covers the planning timeline, target account selection, and operational updates necessary for effective execution, stressing the importance of collaboration among teams. Additionally, it emphasizes maintaining data quality and customizing outreach to optimize customer engagement throughout the B2B lifecycle.
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The Magic ABX Potion – Key Elements to Think About When Creating Your ABX Strategy for 2023
- 1. 1 Copyright © 2022 Demandbase
- 2. 2 Copyright © 2022 Demandbase 2 Copyright © 2022 Demandbase Agenda ● Planning Timeline ● Sales & Marketing Alignment ● Target Account Selections ● Operational Updates ● Execution / Automations
- 3. 3 Copyright © 2022 Demandbase Account-Based Experience A go-to-market strategy that uses data and insights to orchestrate relevant, trusted Marketing and Sales actions throughout the B2B customer lifecycle. A fundamental strategy that spans all your go-to-market efforts; not a simple campaign or tactic
- 4. 4 Copyright © 2022 Demandbase Month 1 Month 2 Month 3 Stakeholders Planning Kickoff & Project Plan Build Integrated Marketing Marketing Leadership Project Charters & Owners Integrated Marketing Year Lookback Marketing Operations Full Marketing Team Target Account List / Territory Plans / Tiering Marketing Operations Sales Operations Leadership Executive & Marketing Summary Marketing Leadership Sales & Marketing Alignment Marketing and Sales Leadership Operational Updates & Budget Allocation Marketing Leadership Marketing Operations Campaign Planning Full Marketing Team Team offsite for Review & Discussion Full Marketing Team Planning Timeline
- 5. 5 Copyright © 2022 Demandbase Sales & Marketing Alignment
- 6. 6 Copyright © 2022 Demandbase Get Everyone In The Room Build your ABX leadership team Sales Marketers Operations Customer Success
- 7. 7 Copyright © 2022 Demandbase Three Levels of Marketing-Sales Alignment Communication Roles & Responsibilities Orchestration
- 8. 8 Copyright © 2022 Demandbase People, Roles & Responsibilities Who does what on your ABX team Sales Marketers Operations Customer Success • Identify inputs (e.g., ICP, target accounts, segmentation) • Generate valuable insights • Leverage account insights to develop account plans • Prioritize accounts based on rank and score • Define sales follow up process • Define initial scope and allocate budget • Document strategies • Identify inputs for (e.g., ICP, target accounts, intent keywords) • Execute campaigns • Track key metrics • Communicate outcomes • Create and manage reporting • Implement account matching, segmented audiences, and intent keywords • Customize scoring models and journey stages • Integrate ancillary and third-party technologies • Improved collaboration between distributed teams through a focus on defined accounts • Clearer metrics and engagement analytics for enterprise decision • Identify attributes of best customers for ICP and target accounts • Identify streamlined content experience • Identify opportunities for upsell and cross-sell
- 9. 9 Copyright © 2022 Demandbase Target Account Selection
- 10. 10 Copyright © 2022 Demandbase Account Selection Process Opportunity $$$$$ AE Top Accounts $$$$ Target Accounts $$$ Target Market $$ TAM $ All companies that could buy from you Accounts that are suitable clients — meet your ICP Our focus of XXXX accounts — XX accounts per sales rep, and those showing buying intent Top XX% of the Target Account List that is the primary focus of Sales & Marketing Top XX% of the Target Account List that is the primary focus for Sales & Marketing Start with your TAM and then focus:
- 11. 11 Copyright © 2022 Demandbase Start with your Ideal Customer Profile (ICP) • Revenue potential • Sales cycle • Technographics • Firmographics (Industry, Company size, Geography) • Aligned with the company’s objectives (e.g., net new logos, upsells) Example Of Common ICP Characteristics of higher account win rates are achieved by organizations with a strong Ideal Customer Profile (ICP) TOPO Benchmark study 68% • Aligned with the company’s topline strategy (e.g., break into healthcare) • No recent changes in the market that would disqualify the account (e.g., new regulations, recent acquisitions, divestments) • Not disqualified by sales (e.g., The account is loyal to a competitor)
- 12. 12 Copyright © 2022 Demandbase 12 Copyright © 2022 Demandbase The number of accounts you could pursue is larger than the number you can pursue Three strategies: 1. Defining different styles of ABX based on account value 2. Segmenting and rotating account focus 3. Triggering specific focus
- 13. 13 Copyright © 2022 Demandbase 13 Copyright © 2022 Demandbase Entitlements define the constraints on how many accounts you can afford in each style of ABX. Evergreen Triggered Segmented Evergreen Triggered 1:1 • Account plan • 1:1 workshop • VIP experiences • 100% custom content, chat • Advertising ($$$) • Proactive outbound • Quarterly contact refresh (5) • $200+ gifting • Cameo message • Customized content • Individual Folloze Board 1:Few • Mini account plan • 20% custom content • Advertising ($$) • Proactive outbound • Quarterly contact refresh (3) • $100+ gifting • Industry or pain point Folloze Board • Lightly personalized content 1:Many • Advertising ($) • Limited outbound • Program-based content • $50+ gifting • Customized response ICP • General demand gen • No outbound until trigger • Lightly customized response
- 14. 14 Copyright © 2022 Demandbase “Handful” – median 14, mean 39 $2M-$100M++ “Dozens” – median 50, mean 177 $250K – $2M 1:1 1:Few 1:Many “Hundreds” – median 500, mean 6, 221 $50K – $250K Targeted Demand Gen (ICP) “Thousands” <$50K Source: ITSMA and ABM Leadership Alliance, 2020 ABM Benchmark Study
- 15. 15 Copyright © 2022 Demandbase Account Tiering Intelligence Journey Stage Intent Early Stage Opps Length of Sales Cycle 1:FEW AE TOP ACCTS Demandbase ICP 1:FEW Top Accounts 1:1 Strategic 1:MANY Named Accounts Ideal Customer Profile Data SubVertical Industry Tech Stack Account Type Revenue Number of Employees Location Website Visits Sales Engagement Contacts Account Identification Buying Committee Business News Marketing Engagement Technographics Alignment on Account Prioritization
- 16. 16 Copyright © 2022 Demandbase Finalize the List Agreeing on a target account list is a big deal! Account Map Employees Fit Intent Relationship Engagement Total Sales Pick Bluth Company Eloqua 5K-10K 90 Medium 20 257 94 Initech Pardot 1K-5K 80 High 5 215 87 Pritchett Closets Pardot 250-500 75 High 6 216 86 Acme Inc Marketo 1K-5K 85 Low 15 146 66 Gringotts Bank Marketo 10K+ 75 Medium 0 107 59 Cyberdebe Systems Marketo 500-1000 90 Low 0 161 59 Hooli Eloqua 10K+ 75 Medium 10 22 56 Dunder Mifflin Hubspot 100-250 70 Medium 8 31 54 Example of an account selection spreadsheet used by Demandbase. The AE reviews the ranked list of accounts for their territory and then applies their own judgement to pick the accounts they want to target for each style of ABX.
- 17. 17 Copyright © 2022 Demandbase Maintaining the List • Be patient — ABX takes time • Persistence pays off • Update TAL periodically — minor updates quarterly / larger updates once a year • Existing Customers? Yes! Tip: Don’t turn over more than 25 percent of your list each quarter. If your turnover is greater than that, you may be abandoning the ship too quickly. Also, think about future reporting needs for past TALs.
- 18. 18 Copyright © 2022 Demandbase 18 Copyright © 2022 Demandbase Alignment is key Implications for TechStack Lead Routing, Scoring, Maintaining the List, Reporting
- 19. 19 Copyright © 2022 Demandbase Operational Updates
- 20. 20 Copyright © 2022 Demandbase CRM Connect 1st and 3rd Party Data in one platform A fragmented view of an account leads to chaos. It’s time for one view of an account. Marketing Automation Corporate Email Website Visits Ad Impressions Website Visits 47M Companies Firmographics & Technographics 500b+ Intent Signals (Monthly) Known Unknown Custom AI Match & Accuracy Segment Connect Measure
- 21. 21 Copyright © 2022 Demandbase Maintain Poor data quality = expensive >70% of revenue leaders say data management is a high priority do almost nothing about it 65%
- 22. 22 Copyright © 2022 Demandbase But where to begin? Naming Conventions Start with these changes to create a solid foundation Type of Fields Account and People Assignments Ideal Customer Profile(s) Target Account Classifications Team work! Include Sales
- 23. 23 Copyright © 2022 Demandbase Finding Contacts Where to find contacts? • Your existing data • Purchased contact data • Call programs • Manual research • Email conventions Who collects contact data? • 1:1 → ABM with AE • 1:Few → Marketing • 1:Many → Marketing • Targeted Demand Gen → SDR
- 24. 24 Copyright © 2022 Demandbase 24 Copyright © 2022 Demandbase Finding Contacts • Customize your outreach • Start by focusing on just two personas: the user and the decision maker • As you evolve, build detailed personas Initiator Decider Buyer Influencer User Gatekeeper
- 25. 25 Copyright © 2022 Demandbase Execution & Automations
- 26. 26 Copyright © 2022 Demandbase 10,000 accounts 2,700 accounts 300 accounts 75 accounts 100 accounts 600 accounts 350 accounts 150 accounts Retention Cross-sell Customer Opportunity Decision Engaged Awareness Qualified TAM Early Research & Planning In-Market to Buy Increasing LCV Understand: which accounts, which people, and when Meet your prospects and customers where they are! With the content and messaging they are ready for… Account Score: 95 Lead Score: 83 Stage: Research and Planning Product: MicroBiology Systems Competitors: Alcon, Phillips
- 27. 27 Copyright © 2022 Demandbase Personalize Simple • Targeted title or subtitle • Imagery that reflects the target industry • Case studies from the target market • Tweaked introduction and conclusion • A targeted landing page and email Simple vs Deep Personalization Deep • “Just for you” • Unique expertise, resources or assets • Specific report on challenges • Can be automated
- 28. 28 Copyright © 2022 Demandbase Personalize • Presentation • Virtual workshop • Customized content • Benchmark research data • High-end experiences High-Value Offer Tier eBook Infographic Webinar Tier 1 Accounts Highly Personalized [Account Name] Guide to Predictive Marketing with custom copy How [Account Name] Can See ROI with Predictive Marketing How [Account Name] Can Generate More Leads with Predictive Marketing Tier 2 Accounts Personalized by Account Name and Industry [Account Name] Guide to Predictive Marketing with name only How [Industry] Can See ROI with Predictive Marketing How [Industry] Can Generate More Leads with Predictive Marketing Tier 3 Accounts Personalized by Industry or Company Size A [Industry] Marketer’s Guide to Predictive Marketing Custom hub featuring relevant infographics How [Company Size] Can Generate More Leads with Predictive Marketing Rachel Lefkowitz, LinkedIn
- 29. 29 Copyright © 2022 Demandbase Industry Specific Ads and Assets that Span Across the Journey Stages Drive Engagement Thought Leadership Education Guide Decisions Credibility Brand Awareness Verticals Top of Funnel Blog Post Middle of Funnel Webinar Bottom of Funnel Guide
- 30. 30 Copyright © 2022 Demandbase Gifting experiences throughout the journey Interact Direct Mail & Email
- 31. 31 Copyright © 2022 Demandbase Customer Lifetime Value Increase your customer’s lifetime value with cross-sell and upsell Expand: Use Account Intelligence to hit those growth goals Tailor your Content Use intent to customize your content by journey stage. Find Expansion Opportunities Set up predictive models and monitor engagement by product line. Stay Ahead of Competitive Threats Know when competitive keywords are high and trending. Track Site Engagement Identify trends in product page views and know when to engage the buying committee.
- 32. 32 Copyright © 2022 Demandbase
- 33. 33 Copyright © 2022 Demandbase
- 34. 34 Copyright © 2022 Demandbase Thank you! YOU’RE DEE BEST!