#RevenueSummit San Francisco 2017 - Anastasia Pavlova - 5 Principles Of ABM Success
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Anastasia Pavlova presented "5 Principles Of ABM Success" at the #RevenueSummit San Francisco 2017 conference
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#RevenueSummit San Francisco 2017 - Anastasia Pavlova - 5 Principles Of ABM Success
- 1. 5 Principles Of ABM Success: Marketo Playbook Anastasia Pavlova Sr. Director of Marketing, Marketo @digijinni #MKTGnation
- 2. @digijinni Agenda Considerations1. 5 Principles of ABM success2. Marketo playbook & case study3.
- 3. @digijinni A strategic approach to sales and marketing where you focus your efforts on a specific set of high-value accounts with personalized messaging and campaigns. What is Account-Based Marketing
- 4. @digijinni • Start with a goal • Have a hypothesis • Establish a baseline Considerations Before You Begin… 1 • Closed Won Revenue ($) 2 • Closed Won Opportunities (#) 3 • Pipeline Opportunities (#) 4 • Pipeline ($) 5 • Sales Qualified Leads (#) 6 • Marketing Qualified Leads/Accounts (#)
- 5. Five Principles of ABM Success
- 6. @digijinni Five Steps Identify Accounts 1 2 3 4 Cleanse Your Data Launch Campaigns Measure & Analyze 5 Create Content
- 7. Marketo Playbook Case study: Applying ABM to SMB
- 8. @digijinni • Goal: • Drive higher value SMB deals • Strategy: • Apply ABM approach to market and sell to high value target accounts • Use vertical messaging and content • Focus on asset management (a subset of financial services) • Timeframe: 2016 Applying ABM for SMB
- 10. @digijinni Criteria for Account Selection
- 11. @digijinni Use Data Driven Approach Developed Ideal Customer Profile (ICP) and Account Scoring Model
- 12. @digijinni ICP Performance Score A 95+ B 75-95 C 50-75 D 0-50 Account Score ASP The higher the account score, the higher ASP and propensity to buy
- 13. @digijinni Named Account Target Account Ideal Customer Profile (ICP) Create & Lock Target Account Tiers Best set of target Accounts by AE / Territory Accounts matching ICP in key verticals High account score / LTV Existing + look alike
- 14. @digijinni Changed Our Lead Scoring Model MQL Long live MQLA! 1. Demographics 2. Behavior 3. Account fit
- 15. 2. Data & Technologies
- 16. Cleanse Your Data •Match leads to accounts •Verify titles, territories •Map parent and child accounts •Destroy duplicates •Enrich data •Tag accounts in CRM •Lock accounts for 6-12 months
- 18. 3. Messaging & Content
- 19. @digijinni Content Needs to Be… Relevant PersonalizedTimely
- 20. @digijinni Develop Relevant Messaging & Content
- 21. Page 21 Train SDRs and Sales • Segmentation by vertical & prioritization • Messaging & proof points for personas • Call scripts • Sales emails • Special SFDC views
- 22. 4. Campaigns
- 24. @digijinni Tiered Programs Types of Programs Named Accounts Target Accounts ICPs/Broad
- 25. @digijinni 11 attendees, 3 opps 9 attendees, 3 opps 21 attendees, 2 opps Webinar Series
- 26. @digijinni *VIX Index: Chicago Board of Options Exchange (CBOE) Volatility Index. Capitalized on Market Events June 13th Brexit
- 27. @digijinni Email: June 13th Market Volatility
- 28. @digijinni Email: Brexit…Are your Clients Nervous?
- 29. @digijinni Web Personalization 131% more conversions
- 30. @digijinni Personalized Retargeting Geo Location Industry Company Revenue Website, Display, Social
- 31. 5. Measurement & Results
- 32. @digijinni Early 1 • Call connects 2 • # of meetings 3 • Marketing qualified leads (MQLAs) in target account Mid 1 • # of opportunities in target accounts 2 • Pipeline from TAs 3 • Closed won deals Late Know What To Measure When
- 35. @digijinni 2016 Results: Higher Win Rates and ASP 43% higher win rate 44% higher ASP
- 36. @digijinni For FSI Vertical: • 3 months: 22 Opps, $1M pipe • 12 months: 122 Opps, $6.25M pipe • For SMB Target Accounts • 311 Opps; $10.8M pipe 2016 Results
- 37. @digijinni • Agree on goals and KPIs with Sales from the beginning and showcase early success • Use data-driven approach to account selection – pick the right partner • Allow ample time for account selection, and getting ABM-ready • Use multi-channel approach to programs • Leverage market events in real time Takeaways @digijinni
- 39. Advance Registration $1795Ends March 31, 2017 Exclusive $300 Discount Code: FLIP300 Register at summit.marketo.com
Notes de l'éditeur
- I run demand gen for net new SMB business and customer base Been at marketo for 3 years Marketo has been doing ABM for over 5 years now on the ENT side, but we embarked on ABM journey within SMB segment in 2016, so that’s what I’d like to share with you today
- We’ll cover what ABM is and considerations before you begin Walk through 5 principles for ABM success I’ll share with you how Marketo does and walk you through the Marketo’s last year’s ABM journey
- This is an ABM conference so I will not go into details of what ABM is and it’s benefits; ABM name is misleading since it’s placing an emphasis on Marketing, but marketing cannot do it alone It requires complete alignment of the entire Marketing, Sales, SDR and other orgs (MOPS/SOPS, Enablement, Services and Consulting, even Finance) I will not spend too much time in this presentation on S&M alignment, but if you’re interested in this topic, I am speaking on a panel at 2pm
- Goal: higher revenue Hypothesis: Higher ASP Higher close rate Higher velocity Baseline: What’s my revenue, ASP, sales cycle, close rate, etc. today?
- The first two are the most important, so we’ll spend more time on it
- I am going to illustrate how Marketo applies the 5 steps to our business and I will share with you a specific case study for what we did in the commercial / SMB business in one particular vertical in 2016
- Questions: Are we increasing velocity with these accounts in this vertical? Is the ASP on average higher? Higher win rate?
- How do you do that? Ask your Sales people Use Data-Driven approach Combination of the above
- Leveraged predictive analytics to develop ICP model and account score to select and prioritize accounts in our CRM and also buy net new accounts that match the ICP criteria we used a partner – leadspace to build a model for us using Historical data (win rate, deal size, etc.) Firmographic data (annual revenue, empl. size Plus 4K+ different 3rd party data signals like social media activity, funding, tech used, etc.
- This chart shows you that with the higher score, ASP goes up as well as propensity to buy Once the model was built, we updated the SFDC data with account score details for sales to prioritize the accounts
- So the account scoring model allowed us to create Target Account Tiers If you look at this chart … the outer circle represents ICP Target Account tier represents accounts matching ICP in key verticals – marketing will be nurturing these accounts Named accounts – this is the best set of target accounts for each sales rep within their territory
- We also changed our lead scoring model from MQLs to MQLAs by overlaying account score to demographics and behavioral signals Now we’re looking at each lead from the point of whether they have the right demographics (VP of marketing v. student); behavior (are they engaging?) and account fit (do they come from the right account?
- I won’t spend too much time on content – there’s plenty of presentations here on content for ABM If you have a good library of content, it should be easy to create ABM content with minor revisions and redesign tweaks – I am happy to discuss this offline
- We Identified pain points for asset managers (grow AUM, retain clients, drive engagement, aquire new clients) Developed content assets by modifying existing assets as well as created new ones by partnering with 3rd party research companies like Frost and Sullivan It helped that a couple people on my team came from FSI, which enabled us to expedite content development and programs Map content to the stage (early, mid, late), profile (Sales, IT, Marketing, Finance)
- Altogether, email and webinar series generated 22 opps and $1M+ in Sales pipeline
- The chart on the slide is the VIX which measures volatility. What obviously stands out in that 1 year chart is the flash crash of mid August. And I’m sure you probably all remember where you were on August 24th when it happened and that seemed to be the turning point. And since then, we’ve had China concerns, domestic and international growth concerns, different headlines about negative investor sentiment, and to top it off the Fed raised interest rates last year, but now there is uncertainty about their future plans. All of this has lead to persistent elevated volatility.
- The chart on the slide is the VIX which measures volatility. What obviously stands out in that 1 year chart is the flash crash of mid August. And I’m sure you probably all remember where you were on August 24th when it happened and that seemed to be the turning point. And since then, we’ve had China concerns, domestic and international growth concerns, different headlines about negative investor sentiment, and to top it off the Fed raised interest rates last year, but now there is uncertainty about their future plans. All of this has lead to persistent elevated volatility.
- The chart on the slide is the VIX which measures volatility. What obviously stands out in that 1 year chart is the flash crash of mid August. And I’m sure you probably all remember where you were on August 24th when it happened and that seemed to be the turning point. And since then, we’ve had China concerns, domestic and international growth concerns, different headlines about negative investor sentiment, and to top it off the Fed raised interest rates last year, but now there is uncertainty about their future plans. All of this has lead to persistent elevated volatility.
- Depends on your sales cycle Measure against baseline or past performance (e.g. TA vs. non-target accounts; if you’re swapping TAs, how’s the new set performing relative to old?; YoY, QoQ keep the audience in mind (execs don’t care about early stage metrics)
- each account will have its own ‘account details page’ sales team use this dashboard before going to that critical meeting with customers
- each account will have its own ‘account details page’ sales team use this dashboard before going to that critical meeting with customers
- Not seeing higher velocity as the deals are more complex and at a higher ASP they require more time for closing
- For Financial Services Vertical: Closed Won: 20 deals For SMB Target Accounts 86 closed won