According to the results, companies that measure ABM get 99% better engagement with ABM accounts, 80% better profits, 73% bigger company size, and 91% better ROI.
Are you still convinced that ABM is the right choice?
If you don’t already do ABM, you’re probably wondering where to start.
There is a three-pronged approach to segmenting ABM on a scale
It is common for companies to take an ABM test with a marketing specialist and a handful of strategic accounts to demonstrate the ABM concept to the company. But when asked to reduce the program to 50 or 100 accounts or more, it’s no surprise that it doesn’t perform as well.
The size of your customized ABM campaigns is the Holy Grail. A layered approach to ABM allows you to increase your efforts using tools and technologies that allow sales and marketing teams to automate many of the tasks they did manually, increasing production and achieving better delivery results.
You can expand your GAM with a discreet approach. This is what it looks like:
- Strategic ABM: One for an ABM with a very limited number of seven-digit (or more) accounts per year
- ABM scale: one for some ABMs for high-quality six-digit accounts, grouped into micro segments
- Programmatic ABM: One-to-many ABM for five-digit accounts that are worth correcting and modifying
Advanced resource allocation with account rights
After a discreet approach to ABM customization, there is one more thing to do before the strategy is executed (most organizations ignore this part): Account permissions must be defined.
In other words, you must fully answer this question: “What is the right amount of time, money, and resources spent on each account at each level?”
Account entitlement is a structure created by marketing to clarify the level of investment to be made for each account and what to do – to ensure that teams understand how to invest money and time properly.
Let’s take a look at how to apply for account permissions. Here is a structure for setting them up:
- List your sources: start counting all your sources: how many representatives do you have, how long a week can you expect, what is your budget, etc.?
- Define your baseline: then start with “best practices” as a baseline for the number of target accounts per layer.
- Document your ABM campaigns: List all of your ABM programs – anything that costs time or budget.
- Enter your numbers: define what you think should be a reasonable deviation from a specific source, given the account level.
- Refine your numbers: Now start playing with the numbers until they are correct. This is the hardest part, and it will probably take a few sessions with your sales and marketing leaders to get it right.
Some practical examples, along with the results
Strategic ABM: coordination of managers and on-site workshops
For large companies that need a little help getting over the finish line, you can send a manager with your team on-site to make an executive presentation. This can have a significant effect on the account decision.
A manager on our team accompanied the sales representative to Autodesk headquarters because talking to one manager can make a difference to another. Allowing your manager to guide your team on how to use the solution for a very specific use case can move the needle and push a company beyond the finish line.
- Passage: Bottom of the funnel
- Objective: a shopping center at Autodesk
- Game: coordination of managers and workshop
- Results: closed trading/profit
ABM scale: personal web page
If you have a great direct mail package that works well for a wide variety of people, but you don’t have the budget or resources to send it to one of your target accounts, this is where your ABM ladder comes into play.
Sendoso stores the standard packages and ensures that they are ready for shipment; just click to send. The contents of these packs can be socks, t-shirts, notebooks, some content, and a handwritten note for the team.
- Elevation: above the funnel
- Objective: executive level and above marketing, marketing activities or demand generation in level 2 accounts
- Play: send the package and follow an email and a phone
- Results: 19% increase in the number of meetings
Programmatic GAM: Building Relationships with Buyers
The most innovative organizations use video to perceive noise. However, you must use personalization to obtain results.
Vidyard personalizes the content and provides a video that appears to be only for a single potential customer when it is actually uploaded to thousands of accounts.
- Phase: funnels
- Target group: marketing director and, especially, target account
- Play: Once the data has been erased and the list is segmented, start the Vidyard video
- Results: 4.1-fold increase in response rates
Winning big companies in B2B markets will never be easy: sell complex solutions to large organizations; no one can simply pull the trigger for a company without consulting an interconnected matrix of people, each with their own perspectives, problems, and prejudices. Also, your competitors work as hard as you do to win all the deals, especially the biggest deals with the biggest companies.
However, you are not just a victim of these forces. You can have your ABM results under control with concrete and measurable steps that can significantly increase your chances of winning the biggest and most interesting trades in your market.