As ABM has become synonymous with ABM tech, many GTM teams are not seeing maximum returns from their ABM tech investment as they continue to struggle to move high-value accounts to revenue. Many GTM teams are seeing accounts go dark and we’ve been seeing reports of 10%+ drops in enterprise deals (the ones that ABM should be focused on!)
In the podcast below, Liz Ronco (Head of Product and GTM at Madison Logic) joins Personal ABM CEO (Eric Gruber) to discuss why ABM tech clients are failing to get the greatest returns from their ABM tech investments as pipeline accounts go dark.
• How teams are ineffectively identifying and prioritizing the right accounts
• Why teams struggle with engaging VPs and the C-suite, which is what’s needed to drive stage progression.
• How teams are failing to get customer-centric and how they are not using data and account intelligence to guide content, messaging, and interactions.
• The need to go beyond personalization and become personal and how we should come to each interaction with a point of view about the prospects’ businesses.
• How teams are failing to optimize for velocity, increased ACV, and stronger ARR, GRR, and NRR as they are looking to ABM to fix the pipeline vs. fixing the experiences teams are delivering across the buyers’ journey and customer lifecycle.
Click the podcast below to listen:
Here Are the Key Ideas From This Podcast with Madison Logic:
• Some teams lack the data-driven insights that they need to select, segment and prioritize key ABM accounts. They are not getting the consistent data they need to really understand and define their ICP – and to allow that to adapt on how the company is growing and evolving. They are taking a static approach.
• Teams are not looking at the data to understand how and why target accounts are engaging across the buyer’s journey and customer lifecycle. We need to combine various components of data to achieve concrete outcomes. You need to combine 3rd party intent data, historical performance data and technological data that gives you the context on what the account is leveraging today and where they are in the innovation cycle to leverage the solution you can offer. This can help GTM teams select accounts that are early in the process so you can create a buying vision vs. react to predefined needs. This data combined with account intelligence where you understand the “why” behind the company’s seeking should inform accounts to target, the buyers/influencers to engage, messaging and content.
• In many cases, it’s not that GTM teams have too little data to act on. They struggle to turns that data into useful, actionable insights where GTM teams understand the why and the friction points that are behind what’s driving the target account. They struggle to take action on the data to reach the right buyers, with the right message at the right buying stage. And, it’s because they are not layering in different types of data to get a clear “account” picture across the buyer’s journey and customer lifecycle where sellers can predict and influence their buyer’s decision-making process. If you can predict your buyer’s journey, you can take steps to influence that process to make it faster and easier to close the deal. Corporate Visions recently completed a study and they uncovered the most accurate predictors of buying behavior.
Click here to listen to the podcast where we discuss the study.
• ABM requires message stitching across the organization where we are relevant to the human buyers in the accounts we want to win, protect and expand. We have to align our messaging across different departments and functional areas – and unfortunately, most messaging (even ABM messaging) is blanket messaging. Traditional personalization is now table stakes. The future is in delivering personally relevant information that speaks specifically to the individual people you need to engage with and bring together to form a consensus. Unfortunately, most 1:1 ABM programs are nothing more than camouflaged 1: few and 1: many programs as they lack personal relevance.
• Accounts are not moving forward once hitting the pipeline because companies are not creating and optimizing the buyer experience for long term revenue growth. They can’t optimize for the long term because marketing is operating inside a silo. They have to understand how the overall revenue organization works, the goals of the revenue organization and how sales is mobilizing to GTM. They, along with RevOps, need to be looking for the red in the business so they can focus on changing account experiences and interactions to drive positive outcomes, as we cannot just perfect the marketer. We need to ensure that the account-based strategy is being pulled correctly into the revenue organization. Instead of a hand-off, we need a handshake to bridge the gap between sales, marketing, customer success teams and our future and existing customers.
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Here Are Additional Relevant Podcasts You Will Want to Listen to If You Want Greater Returns From Your ABM Program:
• How ABM Should Not Be Synonymous with ABM Tech
• Why Longbow Advantage is Not Investing in ABM Tech at This Time
• Folloze CEO Shares Why How and Why Account & Buyer Experiences Are Disconnected.
• Think Before You Buy Your First ABM Tech – A CMO Conversation Podcast
Here Are Relevant Articles to Read If You Want Greater Returns From Your ABM Tech:
• Why ABM Programs Underperform Even with Terminus, Demandbase, 6sense & Others in the Forrester New Wave for ABM Platforms
• For ABM Marketing, Don’t Get Lost in Technology
• Why Investing in ABM Tech Should Be Your Last Step – Not Your First
• How Many CMOs Are Getting ABM Wrong By Making It All About ABM Tech