Customer Advocacy: Account-Based Marketing's Secret Weapon
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This document discusses how customer advocacy can support account-based marketing efforts. It begins by covering what account-based marketing is and the different types of ABM deployment. It then explains how advocacy can play a role in various parts of the ABM process, such as account planning and tactic selection. Trends driving increased investment in ABM are also reviewed, showing most companies report ABM is important to success and more budget is being allocated to it. The document concludes by providing recommendations for how advocacy teams can better leverage customer assets to support ABM goals.
Customer Advocacy: Account-Based Marketing's Secret Weapon
- 1. BOB PETERSON Director, ABM - SiriusDecisions @bobpetersonmn CUSTOMER ADVOCACY: ABM’s SECRET WEAPON
- 2. SiriusPerspective: @bobpetersonmn 2 © 2017 SiriusDecisions. All Rights Reserved What We’ll Cover Today How can advocate marketers take advantage of the ABM movement? What role does advocacy play in supporting the ABM process? What are the current trends driving increased investment in ABM? How can these functions work together to help each other grow?
- 3. SiriusPerspective: @bobpetersonmn 3 © 2017 SiriusDecisions. All Rights Reserved What is Account-Based Marketing? strategic approach defined accounts relevant valuable Source: SiriusDecisions Marketing must align its efforts to the accounts and actions most likely to deliver growth and improve sales productivity. This is the promise of account-based marketing.
- 4. SiriusPerspective: @bobpetersonmn 4 © 2017 SiriusDecisions. All Rights Reserved Industry ABM A moderate or large number of new or existing accounts in the same vertical or other specific segment Named-Account ABM A moderate or large number of defined existing or targeted accounts ABM: Three Different Types of Deployment ABM leaders apply different models to win and grow accounts, and these models are usually aligned to sales’ go-to-market strategy and opportunity within the tier. Account-Based Models Large-Account ABM A very small number of large existing or targeted accounts
- 5. SiriusPerspective: @bobpetersonmn 5 © 2017 SiriusDecisions. All Rights Reserved Importance of ABM to B-to-B Remains Extremely High % stating ABM is “extremely” or ”very” important to overall company success 87% 91% 2016 2017
- 6. SiriusPerspective: @bobpetersonmn 6 © 2017 SiriusDecisions. All Rights Reserved 1-10% 11-30% 31-50% >50% Marketing Budget Allocated to ABM Is Increasing We’re seeing b-to-b organizations allocate more of their marketing dollars to ABM; those allocating more than 30 percent of their budgets to ABM increased from 17 percent to 54 percent. 2016 2017 Percentofrespondents Percent of marketing budget allocated to ABM 40% 27% 8% 9%10% 35% Source: SiriusDecisions 2017 ABM Command Center 8% 9% 36% 18%
- 7. What’s New: ABM Market Trends 2017 Market Survey Findings
- 8. SiriusPerspective: @bobpetersonmn 8 © 2017 SiriusDecisions. All Rights Reserved 45% 20% 21% 7% 1% 1% 5% C-Level Engagement ABM Increases Account and C-Level Engagement Almost all organizations found that they can increase their level of account and C-level engagement with ABM. 24% 39% 25% 6… 3% 1% 2% Overall Engagement 1-25% 26-50% 51-100% 101-200% 201-500% > 500% Don't track “Based on your ABM efforts, what percent increase have you seen in account or C-level engagement?” Source: SiriusDecisions 2017 ABM Command Center
- 9. SiriusPerspective: @bobpetersonmn 9 © 2017 SiriusDecisions. All Rights Reserved ABM Increases Average Deal Sizes Respondents state that average deal sizes are higher for ABM accounts; more than one in four (27 percent) have a greater than 50 percent increase in average deal size. “What is the percentage uplift in average deal size for ABM accounts versus non-ABM accounts” Source: SiriusDecisions 2017 ABM Command Center 91% “Average deal size is LARGER for ABM accounts versus non- ABM accounts” Average deal size for ABM is: • 51-100% greater = 14% • 101-200% greater = 11% • > 200% greater = 2%
- 10. SiriusPerspective: @bobpetersonmn 10 © 2017 SiriusDecisions. All Rights Reserved ABM Increases Closed Deal Percentage 91 percent of respondents stated that ABM improves closed deals. Nearly one in four had better than a 50 percent conversion increase when deploying ABM. 1- 10% 24% 13% 11-20%21-30% 7% > 50% 18% 41- 50% 20% 31- 40% 7% “What is the percentage difference in closed deals from qualified opportunities for ABM accounts versus non-ABM accounts” Source: SiriusDecisions 2017 ABM Command Center Lower 4% 7% No change
- 11. Account Planning & Tactic Selection Advocacy’s Starring Role
- 12. © 2014 SiriusDecisions. All Rights Reserved 12 SiriusPerspective: The SiriusDecisions Account-Based Marketing Framework For large and industry/segment ABM, best-in-class organizations apply a systematic process built on a solid foundation. Organization, Roles and Responsibilities, and Skills and Training Technology Infrastructure Interlock/Communication Insights Education Scoping Resourcing Assessment Opportunity Identification Scoring Selection Prioritization Goals Messaging Support Inventory Tactic Selection Plan Delivery Pilot Expansion Full Rollout Participation Optimization Audiences Format/Timing Metric Selection Maturity Selection Maturity Audit Benchmarking Preparation Prioritization Planning Execution Measurement SiriusDecisions Account-Based Marketing Process Framework
- 13. © 2014 SiriusDecisions. All Rights Reserved 13 SiriusPerspective: ABM Means Marketing Has A New Menu of Tactic Types Building an ABM plan starts with defining what needs to be done and what part marketing can play within the universe of accounts. Opportunity Support Account-Based Marketing Menu Relationship Support Cross-Sell Predictive Demand New Demand Cross-Sell Upsell Renewal Rapid Entry Intra-Pipe Last Mile Source Activate Influence Marketing-Sourced Demand Sales-Sourced Demand Pipeline Acceleration Engagement Advocacy Education Adoption Retention
- 14. © 2014 SiriusDecisions. All Rights Reserved 14 SiriusPerspective: ABM Types: Key Considerations Marketing, sales and other business leaders must work together to determine which ABM type(s) they might want – and are ready – to pursue. General/Broad-Based Model • Largest accounts; dedicated ABM practitioner • Supports global/major account team specific account plans • Usually growth oriented Significant Moderate/ significant Mass Who/What Named Account/Industry Model Large/ Strategic Account Model None Customization • Moderate number of accounts • Focus on winning, cross/upsell • Similar account goals drive marketing to support sales execs • Large number of accounts • Marketing matches GTM strategy • Commonalities identified across accounts • “ABM at scale” • All non-ABM accounts • Marketing activity matches what organization wants to promote • One size fits all
- 15. © 2014 SiriusDecisions. All Rights Reserved 15 SiriusPerspective: Advocacy Deployment: Customer and Buyer Needs The key to effective customer advocacy deployment lies is understanding the unique needs of both customers and potential buyers. I want to get value from my purchase I want to make a purchase I learn from other users I look to my peers for information I need help justifying the selection I need help with adoption Buyer Customer Where and how can advocacy support buying cycle needs? Where and how can advocacy support customer lifecycle needs?
- 16. SiriusPerspective: @bobpetersonmn 16 © 2017 SiriusDecisions. All Rights Reserved Advocacy Resources for Account Goals Net-New Acquisition Cross-Sell New Buying Center Upsell New Solution Upsell Same Solution Primary Lead Marketing Marketing Sales Sales Marketing Program Family Focus 1. Market intelligence 2. Demand creation 3. Reputation support 1. Market intelligence 2. Demand creation 3. Sales enablement 1. Sales enablement 2. Market intelligence 3. Demand creation 1. Sales enablement 2. Reputation support 3. Market intelligence Solution Silver Silver Platinum Gold Assets to Consider • Analyst reports A, B • Slideshares A, B • Blog series – Banking • Blog series – Pharma • White papers A, B, C, D • Case studies A, B, C, D, E, F, G, H, I, J, K • ROI tool • Call scripts A, B, C • Banner ads A, B, C, D, E • Data sheets A, B • Reference list A, B, C • Demo script A • Analyst reports A, B • Slideshare E • Blog series – IT leaders • Case studies A, E, L, M • ROI tool • Call script D, E • Reference lists D, E, F • DM kit 1 • DM kit 2 • Demo script A, E • Data sheets B, C, D • Demo scripts B, C, D • Demo decks B, C, D • Solution video D • Slideshares C, D • Podcast series A • Case studies A, B, N • Demo scripts B, C, D • Web assessment tool • White papers E, F, G • ROI tool • Hospitality tickets A • Call scripts F, G • Banner ads A, F, G, H • Promotional offer templates A, B, C • Hospitality tickets B, C, D, E • Dynamic display • Industry conference A, B • Direct mail • Email nurture • Exec briefings • Company event A • Company event B • Company event C • SME access Delivery Mechanisms • Phone • Web • Self-guided demo • Monthly trial • Proof of concept • Webinar • Lunch and learn • Vendor days • Onsite visit • Paid search • Digital advertising • IP adsg/retargeting • Social media advertising
- 17. @bobpetersonmn 17 © 2017 SiriusDecisions. All Rights Reserved • Work with your ABM teams to understand where they can leverage customer advocacy to shore up ABM efforts • Play an active role in the account planning process and identify areas where advocacy assets can help • Create greater awareness for the applicability of advocacy assets and interactions along the steps of the ABM process • Incorporate an understanding of the ABM tech stack into your technology investment roadmap discussions Key Takeaways
- 18. Thank You!