In a recent LinkedIn discussion, Mark Stouse (CEO of Proof Analytics) mentioned that there is a near-total misunderstanding about the purpose and focus of a great ABM effort. In this podcast discussion, you will learn why:
Here Are the Key Points from This ABM Done Right Podcast with Mark Stouse:
1) ABM is not synonymous with ABM tech like 6sense, Demandbase, and Terminus. Technology is designed to amplify and scale your efforts and to collect data that you wouldn’t ordinarily have. It is not the thing that you are doing with the tech, in the tech, and through the tech.
2) ABM using 3rd party data is only DM on steroids. The hallmark of ABM is 1st party data as ABM is about relationships. It’s about the relationships between you and targeted human buyers at accounts you want to win, protect and expand. It’s about building internal relationships within targeted accounts as well. You want to be an umpire in the buying decision where you bring together disparate players on the prospect side to not only understand their specific needs but also the needs of their team and everyone on their side so they can come to a consensus. You’ll see how your future and existing customers should not realize that you are using ABM on them.
3) ABM measurement is off-target as GTM teams still focus on pipeline numbers and marketing sourced revenue. ABM should have a materially positive impact on stage progression, time to close, and deal value. These measurements show the level of confidence and trust the prospects have not only between you and the vendor but also amongst themselves. The more confidence and trust that you build, the faster and bigger your deals will come. And that is the essence of ABM.
4) The people on the outside should not tell that you’re using ABM on them. It’s about the moments you’re creating, the interactions you’re having and the experiences you’re delivering, and how natural it is. You have to think about who you’re trying to talk to – don’t think about targets but think about the human buyers in the accounts you want. Think about what you want to help them with – so you need intention for each interaction. Think about what the human buyers would want to hear and what they need to hear vs. what we as sellers or marketers want to say.
5) You cannot retrofit ABM on top of existing marketing structures despite what marketers like Jon Russo from B2B Fusion say. The top of funnel cattle calls is DM. If you are overlaying ABM on top of marketing structures, then you are doing DM on steroids. You are not changing interactions, experiences, and motions to win with the accounts that can provide the greatest revenue growth – today and tomorrow. ABM should only be focused on 10-20% of target accounts where you already have an opportunity, but you’re not getting buy-in across the organization, the deal is stuck, or you’re challenged to get the deal size you want and need. ABM should not be used for lead gen – it’s about building the relationship across the organization. Those that are using ABM for lead gen are missing the mark. They are creating headwinds for sales and are slowing down deal time and lowering deal sizes.