Earlier this week, we took part in DemandGen Report’s Buyer Insights & Intelligence Webinar Series. Our Chief Customer Officer, Andrew Mahr, presented the session, “ABM: Finding Demand When the Market Slows Down.” Andrew broke down the essential adjustments for ABM success in today’s market, including 1.) how to find active buyers, 2.) how to adjust your message to address current needs, and 3.) how to align your metrics to increase revenue.
If you missed the webinar, you can request it on-demand or just keep reading this blog post. Below is a summary of Andrew’s three main takeaways, so you can start off the second half of the year on the right foot.
1. Fix Your List
Successful ABM programs begin with targeting the right accounts. It may not always be easy, but it is possible. This means taking a look at who’s entered your market, as well as who’s exited, over the last few months. A lot has happened in 2020, so it is likely that your ideal buyer has a very different set of needs than 6 months ago.
The best ABM programs don’t settle for obvious in-funnel accounts that have already given you the hand raise. The best programs dive into the “hidden” funnel to discover active buyers. You see, these buyers early in the purchase journey don’t have to remain hidden; they’re just diamonds in the ruff, and the best way to uncover them is by leveraging intent data.
Intent data is the best friend you didn’t know you needed in your ABM program. Use intent data to identify active buyers months before they enter your pipeline, so you can start nurturing them early and often. With intent, B2B marketers can run campaigns based on purchase interest and sales can follow-up at the right time with the right message.
As a reminder, when we talk about intent, we mean both first and third-party intent.
- First-party intent data includes anonymous signals on your website, webinar registrations, or case study downloads.
- Third-party intent data shows when accounts research relevant topics on other websites, such as when a prospect reads a product review written by an industry analyst.
2. Fix Your Message
Now that you’ve identified active buyers, you need messaging that addresses these buyers’ current needs. When you engage your fresh set of accounts with old messaging, that’s not a recipe for success. You’ll need to pivot your content and offers, and the best way to do this is by personalizing campaigns for different messaging segments. This way, you can speak directly to different needs and buying experiences.
An example that Andrew provided during the webinar is from our customer Veristor. The company is an IT solutions provider with 10k+ target accounts and 18 different products. Cold calling into their accounts yielded poor results because even when they connected, they weren’t quite sure what to offer. However, leveraging Triblio’s intent data features, Veristor was not only able to identify accounts that were ready to buy but also gained insight as to the specific products those accounts wanted.
But gaining visibility can only do so much. From there, you have to execute campaigns to nurture active buyers. Triblio enabled website personalization by product interest, and when there was enough interest, Triblio triggered a direct mail campaign followed by sales outreach. This highly orchestrated delivery of the right message yielded huge improvements for Veristor.
You can read the full case study here: https://triblio.com/why-triblio-veristor/
3. Fix Your Metrics
The last key practice that Andrew breaks down is measurement. How do you prove ABM success? The answer is not lead volume, as per traditional lead generation. The number of engaged prospects (i.e. leads) is a good leading indicator that the program is on the right track, but it’s not enough to prove ABM success.
In an account-based approach, you really have to look at funnel progression. How many target accounts have converted from research to consideration, consideration to pipeline, and pipeline to customer? Ultimately, ABM programs should be measured by pipeline and revenue impact. The ROI of the program, not engagement and lead numbers, proves whether or not you’ve achieved ABM success.