ABM (or account-based marketing) is the latest buzzword in the sales world, but how can we integrate this strategy within an existing marketing strategy? More importantly, should you? On today’s episode of The Sales Evangelist, Donald is joined by the Director of Global Account-Based Marketing at ON24, Lisset Sanchez-Schwartz, to learn her approach to implementing account-based marketing campaigns successfully.
1. Determine what ABM really means and which type you should utilize.
- ABM is a cross of a full range of communications, from events to content delivery.
- It’s segmenting customer bases into unique groups where you can apply different and specific messages. In some cases, that could even mean a 1:1 strategy.
- It’s not a tactic or campaign type, but it’s an orchestration amongst many team members to holistically approach an account.
- There are three ABM approaches: one-to-one, one-to-few, and one-to-many. Of course, the personalized you get, the more expensive it is to implement.
2. Determine if an ABM strategy will be effective.
- Admittedly, this should probably be a discussion before you determine the type of ABM. But remember, not every account needs an ABM strategy attached.
- ABM needs to be a partnership with sales. (Many places even call it ABX, because it applies to so much more than just marketing.)
- Lisset’s pro tip: Don’t try to boil the ocean. It takes money, time, and effort over a long period to see results.
3. Develop the infrastructure to support your ABM approach.
- If you don’t have the infrastructure to do retargeting at scale, select a handful of accounts and research.
- Apply an ABM strategy where it makes sense.
- To determine if an account might benefit from an ABM strategy, evaluate and research. If you have a limited budget, use information from your sales team to build the most robust plan possible.
- If you have a larger budget, utilize third-party data to gain more information about a potential company. This is a great way to learn if a company is interested in you (or a competitor.)
- The more time you spend on the model, the better the backend will be
How do you aggregate this information if you don’t have the software to find all these data points?
- Hopefully, you have a CRM. The first-party data you’ve built up will pay dividends.
- Start with what you have today. Even if your data isn’t the cleanest, start a 1:1 with a company you’re more confident about.
Lisset’s final takeaway? Have the conversation and have patience. A long-term strategy might not seem successful initially, but it will pay dividends down the line with consistency. Visit ON24.com for more company information and connect with Lisset on LinkedIn to learn more.
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