Presented by: Matthew Preschern
Executive Vice President and Chief Marketing Officer
A company’s brand proposition and means of customer engagement have been transformed by the shift to digital, including the tremendous influx of data and a business environment that is mobile-first and always on. Customers expect personalized, experience-driven interactions for engagements that come at micro moments and require a brand to be nimble and active in encouraging next steps.
The key to using data to encode insights and deliver this level of customer experience can be found in account-based marketing. A well-conceptualized ABM plan when designed and executed in partnership with sales can be a strategic differentiat or and a trigger for exponential growth.
The true power of ABM lies in the programmatic choices, both in-person and in the digital space. Participants learned how the elements of an account based marketing approach can allow a powerful customer-to-brand connection and examined the ways in which account based marketing can bridge the analog and digital elements of marketing for a cohesive experience.
- A framework for account-based marketing
- An understanding of the elements of a successful ABM program, including customized customer experiences
- Insight on ABM as a means to trigger double-digit growth coupled with reinforced brand equity
- A guide for using the data collected to endear customers and drive brand awareness
- Client challenges: Message clutter, lack of personalization, lack of trust in other companies
- Marketing challenges: Micro moments, individual to individual, mobile first, connect emotionally, always on, multi-channel, experience driven
- The world is moving towards more personalization in the purchasing process
Account Based Marketing: Augment business traction and be a “strategic partner” to the client, enable, up-sell and cross-sell, infuse thought leadership, and create and leverage loyalty
Key Question: How do you arm your sales team with this account based marketing information? How do you get them to allow you to get involved when sales tries to “own” the account planning process?
- Sales should own the execution of interaction with client, that’s a good thing
- Convince them to engage in a thoughtful manner while planning
- Accounts will grow if both are involved in the planning; however, relinquish power when it is time for the sales team to execute with the client
“Alice in Wonderland” lesson
- If you don’t know where you are going, it doesn’t matter how fast you’re running – don’t deploy everything
- Utilize best marketing tactics in concerted effort, deploy some technology, research accounts, and take your time so you know you’re making the right decision
- Don’t waste time and money because you didn’t research accounts or clients fully
What to consider in account selection:
- Current competition landscape
- Account maturity – right engagement ecosystem of sales, delivery and marketing
- Do you have a coach or advocate in the account you are serving?
- Business potential – wallet share versus potential wallet share
- What specific accounts are you going to target, and why should you go after those particular accounts?
- Very strategic – who are the decision makers in the other companies?
- Are you getting a large part of their wallet share – are they buying just one of your products-or more?
Map marketing activities into three buckets
- Demand generation
- Brand awareness
- Thought leadership
- Determine tactics and information shared in order to “move down the funnel”
- Create a custom plan and utilize what works as you get more involved with a client
- Identify target accounts and prospects
- Identify digital channels –> optimize –> measure
You need a framework for how you will act on each account:
- Client engagement framework
- Craft an account level campaign plan
- Measure and monitor
- Utilize both relevance charts as well as organizational charts
- Plot an ecosystem chart of key external influencers
- Create a RAG map for all stakeholders
- Craft a plan specifically to expand new/unknown decision makers and influencers
- You need to combine relationship map with account selection
- Very quantitative analysis -- you need to know hard numbers and revenuestreams to fully understand what share of the client’s wallet you are receiving (i.e. is there the potential for more?)
Move slowly at first, gain traction before diving “all in.”