Account-based interactions are the tactics and activities orchestrated to engage a target account.
Orchestrating interactions at an account through multiple digital channels and people in your organization is key to the success of Account Based Marketing (ABM).
After all, you can’t go “account-based” simply by adopting a technology stack, running a campaign, or even changing just your marketing practices. ABM is a go-to-market team transformation to focus your organization on high-value accounts, and it works best when a spectrum of interactions is deployed.
Across our industry, most B2B marketers now understand the benefits of ABM, at least at a high level. According to the #FlipMyFunnel 2017 State of ABM Survey, 81% of B2B Marketers are adopting ABM. But the question remains, “How do marketing and sales teams actually do ABM?”
At the end of the day, the answer is orchestrating engagement through account-based interactions, or coordinated promotion and outreach, to your ideal customers.
How much time, energy, and money you spend promoting to these accounts, personalizing content, and orchestrating people talking to people depends on your business objectives as well as how you are prioritizing, or tiering, your accounts.
There are many considerations for your ABM program, but I suggest three major priorities to figure out your plan.
Priority #1: Solve Business Problems
First, your account-based program should be designed to address a business challenge, and your goals around pipeline and revenue will drive your strategy. ABM is so compelling because it helps companies grow more efficiently – not because the tech is sweet!
The #ABM tech is only sweet if it solves business problems!
When I started ABM as a “target account” initiative at a growing software company in 2015, our goal was to grow our average selling price (ASP) and shift from transactional sales to enterprise accounts. We needed to get better at selling larger deals to enterprise IT organizations while keeping an eye on efficiency.
In other words, ideally we would not spend time and money on activities, leads, and prospect accounts that were not a good fit. We wanted to invest less on broad-based marketing that led to distractions for our marketing and sales operations teams, and later to sales development and account executives. We needed to initially focus on pre-targeting and account nurturing to create better sales appointments, and that’s where my team invested first.
To develop a plan to engage your target accounts, you need to know which type of program solves your highest priority business challenges. For examples, consider these approaches and plan for the ones that meet your business’s needs:
- Pre-targeting: Generate awareness with cold or net-new accounts to create more sales appointments
- Account/Deal Nurture: Engage key stakeholders within accounts to increase awareness, interest, and conversion to sales pipeline
- Pipeline Acceleration: Engage a wider audience of stakeholders during the sales process to increase pipeline velocity and win rates
- Wake the Dead: Generate pipeline by reengaging cold, stalled, or dead opportunities
- Land & Expand: Engage other divisions or business units within an account
- Renewal & Upsell: Engage key decision-makers beyond the Go to the full article.
Source:: Business 2 Community