Just in time for March Madness, we thought we’d shed some light on the commonalities between basketball and account-based marketing (ABM). Naturally, you wouldn’t equate the sport of basketball with ABM but the two are far more similar than you would think.
Teamwork Makes the Dream Work
Previously in the B2B market, the sales and marketing teams had their distinct marching orders. The sales team focused on closing deals, and the marketing department was in charge of bringing in the leads. Due to the incentive structure, each team would stick strictly to their own lanes causing paths to rarely cross.
However, with the adoption of ABM, it is critical for both the sales and marketing teams to work together cohesively in choosing target accounts and guiding those accounts through the purchase journey. It’s about having harmonious alignment. Similar to the way basketball players have their positions, they must also understand the positions their teammates play in order to effectively communicate a successful play.
Likewise, your company’s sales and marketing teams must work together in order to run the play and make the basket – turning target accounts into customers.
Defense Wins Games
With a record of 11 national titles, the UCLA Bruins have won the most NCAA Division championships in history, most of which were led by legendary coach John Wooden. Wooden was known for many things, but the one thing we can all agree is that he knew how to position his team to win games. The same can be said to companies looking to revitalize the way they gain business; by adopting man-to-man defense, or in our case, an account-based approach, you can better position your team to close deals.
Setting up your target account list is essential. Scaling 1:1 account targeting is critical and it can better position your company for major pipeline impact. According to research and advisory firm, SiriusDecisions 91% of B2B teams doing ABM close larger deals from their target accounts than from non-target accounts.
Follow the Playbook
Just like a basketball team has a common goal – to win the championship title – your company should define a common set of objectives that essentially get you to convert a prospect to a customer, such as:
- Define your ideal customer profile and develop a target account list
- Create account tiers and select ABM campaign tactics for each tier
- Execute ABM campaigns across the purchase journey, and then measure and optimize pipeline impact
This set of objectives helps outline and mold your playbook.
In basketball, a play is a strategic plan used to move the ball down the court. In ABM, a play is a strategic plan that enables you to close deals. Discover examples of award-winning ABM campaigns by downloading the Essentials Guide to ABM Success to learn more about the key fundamentals needed to execute award-winning ABM programs.
A March Madness competition of our own…
In the spirit of March Madness, Triblio was selected as a finalist in DCInno’s Tech March Madness competition. For the last few weeks, 64 Greater Washington startups and tech companies have been going head-to-head to determine who will move on in the bracket and make it out on top.
We are proud to announce that with the support of colleagues, friends, and family, Triblio has advanced to the Sweet 16! This is where we could use your support. Help us move into the Elite 8 by voting for Triblio via this link. As a note, voting can be done daily, and the winner will be announced Friday, April 5. We appreciate your support!
Full competition schedule:
- Sweet 16: March 20 – March 25
- Elite 8: March 26 – March 28
- Final 4: March 29 – April 1
- Finals: April 2 – April 4