The session opened with Fred Tsai, panel moderator and customer success strategist at Salesforce, casting his vision for ABM.
“…. it’s about giving each and every customer the dignity and worth they deserve.”
Treat your clients the way you want to be treated.
On paper, we understand clients by facts like deal size and contract length. We’re concerned about how much revenue they brought in and whether they’ll renew. As marketers, we quickly latch onto whether we can flash a prestigious logo on our site or write a convincing case study.
The ABM approach flips this thought process and forces marketers into their customers’ shoes. The “account” is the customer account, and to be “account-based,” marketers are challenged to approach customers based on customer needs and expectations.
How do you manage all the different expectations of customers? Triblio’s CMO Jason Jue gives 3 pieces of advice:
1. Tactics by Segment: Treat each account the way they expect to be treated
Treating customers right starts with understanding their needs. In personal relationships, it can be useful to look at personality types. Myers Briggs can’t explain everything about a person, but it can give us the vocabulary to discuss how we relate to each other and the world along four main dimensions.
In the same way, Jason suggests that marketers can study and categorize accounts along two main dimensions. Segmenting accounts by their expectations and needs can help marketers relate to each type of account in the best way.
One dimension is company size. Larger companies tend to have more complex problems and more people involved, which requires more personalization both in the solution and who you’re communicating with about the solution.
The second dimension is share of wallet (SOW). Share of wallet can be used as a proxy for lifecycle stage and indicates a customer’s level of commitment. The higher the share of wallet spent on your solution, the higher the expectations, the greater the cost of switching, and the more likely they’re in it for the long run. You’ll want to choose different communication tactics for a customer who’s just getting started with a pilot and one who’s signed a multi-year contract.
2. Contact Targeting: Talk to people, not accounts
One of the most difficult channels to personalize is display ads. Ads just look and feel like batch and blast, but they scale and grow brand impressions. Advertising to existing customers can help communicate and reinforce new features and updates, whether or not you’re in regular communication.
When running ads to customers, Jason recommends targeting contacts, not accounts. Targeting the entire account results in wasted spend, and it won’t grow existing relationships. You’ll be addressing people who might not even know you exist. Ads function best as reminders, not the primary vehicle for news. First, send an email about a new update or inform customers on a call, and then unleash notifications in the form of ads across the web. Switch out generic messaging like “Now with ads” for copy like “Triblio ads can reach influencers like you,” and leverage imagery that ensues trust, like the face of a CSM.
3. Multichannel Orchestration: Stay on message
In our connected age, we’re usually in the middle of multiple conversations at once. According to McKinsey, we consult 6 different sources of information before making a B2B purchase. This gives marketers a wide set of tools for getting our message across. We have display ads, paid search, email, messaging, webinars, the website, chatbots, events, and more. Whatever the offer is at the time, orchestrating that offer across multiple channels will only amplify the messaging.
Triblio client Trapeze Group ran an upsell campaign and delivered consistent messaging across the web and at in-person events. At each touch point, marketers made it easy for customers to contact their account managers such as through automated calendar bookings. The repetition really hit home, and Trapeze won Demand Gen Report’s award for “Best ABM Campaign in 2018.”