Free ebook: Mapping Your Account Based Marketing Strategy It Starts With Account Selection

Mapping Your Account Based Marketing Strategy: It Starts With Account Selection Account Based Marketing strategies are all the hype these days, but many marketers are struggling with how to get started. With so many people talking about implementing ABM with so many different strategies, who can blame marketers for not knowing where to start? Many times, marketing departments will dive head first into Account Based Marketing by buying tools that help them with only one aspect of ABM—maybe it’s personalization or measurement. And while these are important to an Account Based Marketing strategy, you have to take a step back before you make that head first dive. Account-Based Marketing is a strategic approach that coordinates personalized marketing and sales efforts to open doors and deepen engagement at specific accounts. Note the keywords—“specific accounts”. Before you kick off an ABM strategy, you have to choose those specific accounts! This may sound easy and there are many ways to get it right, but you have to find the way that works best for your organization. Think about it, no matter how targeted your message is, or how lock-step your sales and marketing teams are in pursuing an account, if the account isn’t the right fit for your business, you’re probably not going to have the results you were hoping for. In this ebook, we’ll cover everything you need to know when selecting accounts to pursue with your ABM strategy. Including: • Different ways your organization can select target accounts • The difference between traditional manual selection and predictive selection • How to break your target accounts out in tiers to achieve success

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MAPPING YOUR ACCOUNT BASED MARKETING STRATEGY It Starts With Account Selection INTRODUCTION Account Based Marketing strategies are all the hype these days, but many marketers are struggling with how to get started. With so many people talking about implementing ABM with so many different strategies, who can blame marketers for not knowing where to start? Many times, marketing departments will dive head first into Account Based Marketing by buying tools that help them with only one aspect of ABM—maybe it’s personalization or measurement. And while these are important to an Account Based Marketing strategy, you have to take a step back before you make that head first dive. Account-Based Marketing is a strategic approach that coordinates personalized marketing and sales efforts to open doors and deepen engagement at specific accounts. Note the keywords—“specific accounts”. Before you kick off an ABM strategy, you have to choose those specific accounts! This may sound easy and there are many ways to get it right, but you have to find the way that works best for your organization. Think about it, no matter how targeted your message is, or how lock-step your sales and marketing teams are in pursuing an account, if the account isn’t the right fit for your business, you’re probably not going to have the results you were hoping for. In this ebook, we’ll cover everything you need to know when selecting accounts to pursue with your ABM strategy. Including: • Different ways your organization can select target accounts • The difference between traditional manual selection and predictive selection • How to break your target accounts out in tiers to achieve success MANUAL ACCOUNT SELECTION Let’s start out with manual selection, since that is the most basic way you can select target accounts for your ABM strategy. Manual selection happens when your sales and marketing executives get into a room and essentially “duke it out” to determine what target accounts to go after. This selection process might be based on data you have within your CRM or marketing automation platform, or it may be entirely subjective. We recommend starting the exercise by understanding your Total Addressable Market, or TAM. In other words, you need to understand who in the universe of accounts you can sell to. From there, determine how many accounts fit the Target Account Definition. Take a look at the worksheet below to help you with this process. When choosing your target accounts, flesh out a few areas of definition such as the demograhpic, firmographic, and technographic makeup of your target audience. And you can add more information if you have it available, such as company maturity, growth trajectory, and so on. Although manual selection can be effective for many companies, it is by-and-large a tedious and subjective process. Team members are much more likely to depend on existing lists as a guide, choose companies that they are familiar with, or focus on companies they have sold to in the past. While this might be good in the short-term, it doesn’t scale. Because you are using best-guesses to choose your target accounts, you are likely to miss key companies that you should be pursuing. TARGET ACCOUNT DEFINITION WORKSHEET Map your ideal account persona with this worksheet. The data on each of these different personas can help you create custom content, email messaging, social outreach, advertising and more. Essentially, it will give you the insight you need to do manual selection! DEMOGRAPHIC Location? FIRMOGRAPHIC Company Size? Industry? Revenue? TECHNOGRAPHIC What technologies are they using? GROWTH TRAJECTORY Did they just receive funding? Are they a new or legacy company? ORGANIZATIONAL MATURITY How big is the team your selling into? What kind of activities are they doing? MARKETING MESSAGE What message resonates the most with this type of account?