Account-based Marketing — A New Approach or a Recycled Paradigm

Posted by Jude Woodward on Aug 19, 2014 12:27:00 PM

ABM.jpg

Recently, at a family event, I overheard a football discussion about how great it was that quarterbacks now are big enough to move outside the pocket and run with the ball (e.g., Cam Newton of the Carolina Panthers).  Apparently, my relatives were unaware that we have always had quarterbacks who were big enough and smart enough to take those risks on a regular basis (i.e., Fran Tarkenton, Minnesota Vikings and New York Giants).  He played for the Vikings from 1961 to 1966, where he frequently locked horns with his head coach who had only contempt for the idea of a mobile quarterback, a concept that Tarkenton dramatically advanced in the NFL during his 18-year career.

Far away from the world of sports, I am seeing similar trends.  For example, I’ve been reading a lot lately about account-based marketing and the blogs and articles seem to be referencing this methodology as a new tool in the marketing arsenal.  But I know this concept has been around for decades. 

It may not have had the trendy moniker of “account-based marketing,” but it has been an important part of Winn’s offerings to its clients for 20-plus years.   Account-based marketing (aka corporate profiling, national account profiling, target account marketing, account profiling, etc.) is especially effective in IT sales where there is often a long sales cycle, involvement of multiple decision makers, and multiple buying centers. 

Digital and inbound marketing strategies are excellent tools for cost-effective management and measurement of lead activity in the sales cycle but what’s missing?  Have you asked yourself whether these tools provide all the information you need to engage potential customers during the sales process and to generate actionable leads?

  • Have you identified all the relevant target audiences at every prospect account?
  • Have you identified all the decision-makers within each target audience?
  • Do you know what technology and environmental factors are driving the prospect’s business and how your solution might resolve their pain?
  • Do you know whether your messaging is really resonating with each target audience at a prospect account?
  • Do you know who you are competing with?

Leveraging a strategy of account-based marketing provides answers to those questions and more. You will have . . . .

  • Greater awareness of the Business Intelligence and Technology infrastructure impacting each prospect
  • Detailed information on organizational infrastructure to improve the ability to up-sell and cross-sell
  • Intelligence on key triggers that will help better align and focus prospect messaging via both digital and live channels
  • Identification and awareness of key decision makers and knowledge of the key players in the decision-making process

Read the brief summaries of account-based marketing campaigns Winn has conducted recently for two different clients.
 

Account Based Marketing Account Based Marketing

Fortune 100 Technology Company
In-depth corporate profiling of 300 enterprise strategic accounts forweb conferencing and collaboration solutions

Revenue Management Unit
of a major SCM software company
In-depth contact profiles for 200 global strategic accounts in multiple languages

Objectives

  • Identify all subsidiaries and business units and decision-makers within each unit,
  • Collect BI related to web conferencing solutions in use,
  • Qualify sales-ready leads, and
  • Nurture companies and contacts that are not sales-ready.

Objectives

  • Develop a detailed profile of each contact and account,
  • Identify all target contacts within multiple verticals (cargo, freight, hospitality, media, passenger travel)
  • Promote the client’s revenue management solutions, and
  • Nurture companies and contacts that are not sales-ready. 

Methodology

Data map and append, Internet research, outbound lead generation, cross-promotion of events, and call-centric lead nurturing

Methodology

Data map and append, Internet research, outbound lead generation,  cross promotion of events, and call-centric lead nurturing

Results

  • 1600 Business Units identified with 4200 contacts appended to the database
  • 33 Qualified sales-ready opportunities identified and 157 nurturing leads from the demand generation initiative
  • 5 months of call-centric lead nurturing resulted in a 42% increase in sales-ready leads
  • $1.2 Million in booked sales

Results

  • Detailed conversations (profiles) with over 254 targeted contacts (54 in EMEA, 200 in North America)
  • 18 qualified sales-ready opportunities identified (7  in EMEA, 11 in North America)
  • 80 nurturing leads identified (26 in EMEA, 54 in North America)
  • Early stage ROI is 20 times  the campaign expenditure

 

Topics: Account Based Marketing, Digital Marketing, Live Touch