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The results were remarkable. Three key elements were measured.
° First and foremost, revenue contribution; 80% of all enterprise revenue was generated through the ABM program efforts.
° 3X improvement in opportunity-creation rates for those accounts that were part of the ABM program versus those accounts that were generated through other means. This signals that the right accounts were being targeted and the marketing campaigns were more effective.
° Display ads served to ABM program accounts increased conversion rates of direct mail, email and other channel programs from 50% to 200%.
[SOURCE: Special thanks to Julia Stead, Director of Demand Generation at Invoca for sharing her story and to Terminus for making the introduction.]
HOW TO SET UP YOUR ACCOUNT BASED MARKETING PROGRAM
There are five steps to creating an Account Based Marketing program that converts.
1. Define goals — Identify ABM-related business KPIs that will be shared by the sales and marketing team. This will include revenue and pipeline metrics, but may also include strategic goals such as segment penetration, awareness within your targeted accounts (measured by email opt-ins, open rates and inbound inquires) and the number of references secured that match your ideal customer profile.
2. Select accounts — Align the team around a list of target accounts that are most likely to deliver against agreed-upon KPIs. This selection and scoring process needs to go beyond simple segmentation like company size and industry. You need to consider intelligence you have on accounts—or add intelligence from third-party vendors. Consider what competitors they have, what is happening in the context of their business, what previous interactions with your business you can learn from, their installed technology stacks, and more.
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