TLDR:
ABM has a knack for being hard to measure. If marketers are realistic in their approach to ABM, they can have a higher rate of success. TechTarget authored an eBook on ABM. In it, there are six components of successful ABM programs. Those components are: Account selection, account prioritization, buying team identification, target account engagement, sales enablement, and ABM measurement.
Although ABM is a very rewarding selling philosophy for marketers and salespeople to follow, it’s ROI is hard to measure. Marketers can counter this by thinking ahead and preparing a smarter ABM program to implement.
In a new eBook TechTarget authored, Building an ABM Program That Actually Works, a sequence of steps were listed in order to get ABM efforts done right the first time. Those steps include the following:
How are marketers choosing accounts?
To marketers, this is the fun part of ABM because it allows them to work with some exciting, new gadgets and tools. With that said, they must be careful because a common downfall of ABM programs is too much focus on the very same tech that’s supposed to help marketers.
How do marketers go after accounts in the first place?
Going after accounts based on the feedback received by sales is a good way to start, but there’s so much more marketers can do going after accounts than using feedback from sales alone. That means using tools. Generally, CDPs and third-party intent data tools are the way to go.
Which accounts do marketers go to first?
The promise of ABM relies on intent data, which reveals which companies are a good fit for a marketer’s solution, and which companies actually need it.
Who’s on the buying team?
In what’s sort of a misnomer, ABM is not actually about accounts. It’s about the buying team that runs them. Use data to reveal who’s on the buying team so the people on it may be influenced.
Are there any gaps in marketing and sales alignment?
Marketing and sales alignment has to be perfect to succeed. This means identifying gaps in the lining up of departments, as well as addressing them to be successful.
How does sales reach its potential?
Equipping sales teams with the actionable context helps sales be more productive.
How are ABM efforts being measured?
Peter Drucker, the father of modern business management theory once said: “If you can’t measure it, you can’t improve it.” If marketers don’t measure the impact of their ABM programs, they’re doomed to fail.
Of course, there’s more to these steps than how they’re described. That’s why TechTarget authored an ebook.
Original article from TechTarget on 30 June 2019.
