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Metrics you should be looking at in your ABM campaign are not the same as those in an inbound campaign - you should focus on metrics like accounts touched, accounts engaged, account lead score, and accounts closed.
>> Further reading: Read the full blog here for more detail on these 7 steps.
Case Study: Successful ABM in Action
B2B Demand Generation Machine Generates £1.6m Closed Business
Spektrix provides a full stack of technology and services for sales, marketing, fundraising and admin teams in the venues industry.
They had run marketing campaigns in the past but felt like they needed to improve their overall planning, execution and measurement of campaigns.
They were looking to change their approach to demand generation and work with a strategic partner who could bring some rigour to their sales and marketing efforts, take their MarTech stack to the next level, and hone in on target accounts to generate sales opportunities.
We started with strategic road mapping, an intensive period of strategy work that meticulously analyses the current state of play and identifies the key opportunities for growth. From this, we developed a roadmap of activity designed to meet the business objectives, including Account Based Marketing.
We worked with Spektrix to help them prioritise accounts that they could potentially close in the financial year, then devised a sophisticated 6 month ABM campaign to draw prospects into the sales funnel.
£1.6m in closed business
48% of target accounts engaged
£540k additional pipeline generated
307 marketing qualified leads
The Technology Essential For ABM to Work
These are the minimum marketing technologies that you would need to successfully run an ABM campaign:
- Marketing Automation platform
- Outbound sales automation/call tracking
- Landing page solution
- Reporting dashboards
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Ideally, you don’t want these all to be disparate tools that need to be connected via a tool like Zapier. We recommend using a platform like HubSpot as this is a good way to bring it all together for SMEs.
Are You Ready For ABM: Checklist
Account Based Marketing can be really complex. To help you understand whether it’s ABM or inbound marketing you need, and to help you compare external ABM agencies that can support you, we’ve created this checklist.
Your ABM-ready Checklist
✅ Do you have a high value product or service - low value doesn't tend to warrant ABM approach due to prohibitive cost-of-sale
✅ Do you have a well structured, usable CRM, full of the right data (valid email records/telephone contacts etc?)
>> Further reading - Why the HubSpot CRM platform is the best for B2B SMEs.
✅ Have you developed personas and know the different messaging angles/pain-points and customer needs for multi-stakeholder comms
✅ Have you got clearly defined criteria to identify and analyse target accounts?
✅ Can you execute a multi-channel campaign - is there a sales team who'll be running direct outreach/follow up across the target accounts
>> Further reading - More on sales enablement best practice here.
✅ Do you have the budget - to do this effectively you need to raise awareness for a prolonged period, buy the paid media, drop the tailored direct mail etc.
>> Further reading - How to overcome operating with budget constraints here.
If you don’t match these criteria, it's likely you may not see the results you’d want from your marketing efforts. You are likely to find more success from an inbound marketing approach.
Putting it All Together
ABM has been around for a while now but it is now rapidly growing in popularity - in 2021, 70% of marketers report using ABM, up 15% from 2020 (HubSpot). This is largely due to the rise in technology which is improving targeting so increasing ABM potential.
ABM is a great strategy to get cut-through in dominant markets, whilst also improving ROI and sales and marketing working on shared KPIs – which is a common problem today.
Your Next Step
To book your free assessment, get in touch today.
Why Businesses Love Working With Digital Litmus
We specialise in supporting B2B tech companies in the SME space. Acting as a true extension of your team, we provide the full-service of best practice Account Based Marketing strategy through to execution and reporting to maximise your ROI.
Our approach to ABM is strategic, systemised and analytical - We only work with B2B SMEs so we understand how to disrupt the complex buyer journey and develop activities and comms that are designed to identify prospects that have intent in the market.
Commercially focused - We analyse the results to optimise promotional activity and identify further opportunities into the future.
Driven by Chief Marketing Officer level strategists - That work closely with you to develop the criteria for prioritisation / segmentation - And then dig into the customer needs and pain points of the set of accounts in the mix for the ABM campaign. This ensures all campaign messaging and content across the sales funnel is on point and resonates with the target prospects - also equipping sales teams with what they need to convert.
Best practice execution - We then apply our marketing operations experience (as a HubSpot Platinum Partner) to ensure a seamless experience with marketing technology, minimising any manual effort through activities such as lead nurture and ensuring consolidated end-to-end reporting is in place.