Over the years our executive profiles have supported many account based marketing programs (ABM). If you are not familiar with ABM, it is basically this: creating a strategy, communications and touchpoints tailored to the needs and careabouts of a single mega-account. Think Nike, Bank of America, UnitedHealth. ABM has been proven to accelerate the sales cycle as well as uncover net new sales opportunities.
We are often asked to consult on ABM programs and our advice is always the same: keep it simple.
We are often asked to consult on ABM programs and our advice is always the same: keep it simple.
Simplicity is Key
Simplicity is key because ABM can get overwhelming very quickly. First, you have to acquire deep knowledge on each account and its decision makers--this is where we come in, providing you with in-depth insight into companies and executives. Secondly, you have to secure buy-in to such a program from internal stakeholders--someone needs to commit to doing the work. And finally there is scale to consider. You can spend many hours mapping out an ABM strategy for one account--how do you scale this across dozens of customers?
Three ABM Tips For Minimizing Risk and Maximizing Success
1. START SMALL: Begin by creating an ABM pilot for a handful of accounts.
2. KEEP IT SIMPLE: Focus on your customer's basic careabouts. These might include business topics that are top of mind, personal interests and hobbies (golf anyone?) and how/where they like to engage with other business leaders, such as an industry conference or charity event.
3. CHOOSE THE RIGHT PARTNER(S): Engage with account teams who want ABM and are willing to collaborate with you. Ideally, you also want to choose accounts where you can add the most value (e.g., it has been challenging to “move the needle”)
2. KEEP IT SIMPLE: Focus on your customer's basic careabouts. These might include business topics that are top of mind, personal interests and hobbies (golf anyone?) and how/where they like to engage with other business leaders, such as an industry conference or charity event.
3. CHOOSE THE RIGHT PARTNER(S): Engage with account teams who want ABM and are willing to collaborate with you. Ideally, you also want to choose accounts where you can add the most value (e.g., it has been challenging to “move the needle”)
At Boardroom Insiders we are passionate believers in ABM--it's why we do what we do. We have a best practices presentation on ABM that we are eager to share with those of you who are embarking your own ABM journey. Interested? Contact us at lee@boardroominsiders.com.
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