This article is a guest post by Sangram Vajre of Terminus. It was entered into The Hackies essay contest for the upcoming MarTech conference. Like it? You can register your vote in the contest by sharing it on social media, especially LinkedIn, Facebook, and Twitter.
Account-based marketing (ABM) at its core is laser-focused B2B marketing. By no longer doing “spray and pray” email blasts to thousands of contacts for lead generation, marketers are adhering to an account-based approach that leverages existing B2B marketing technology.
Think about it: at the core of every best-in-class B2B #MarTech stack are four components:
- Customer relationship management (CRM)
- Marketing automation
- Content management
- Social media
These “backbone” technologies are all focused on one goal: connecting with your customers. Thus with account-based marketing being focused on growing revenue from your best-fit customers (accounts), the technology foundation is set to do scalable ABM.
Now since the rise of account-based marketing, hundreds of B2B software vendors have put a stake in the ground declaring their platforms can do ABM. In one way, they do, because ABM wouldn’t exist in the context it does today without the whole category of marketing technology.
With thousands of vendors in the #MarTech landscape, ABM helps to refine the ways in which B2B marketers use those tech tools to engage prospects, opportunities, and customers. But how?
Account-Based Marketing Technology
I created the #FlipMyFunnel model for account-based marketing in 2015 on my way home from the #MarTech conference in San Francisco, stuck in the middle seat of the airplane between two rather inebriated people (the full story here). I drew the traditional B2B marketing funnel then flipped it upside down to create the “customer experience” tech stack, which evolved into #FlipMyFunnel following this model:
- Identify your best-fit accounts based on your ideal customer profile (ICP) effectively creating a target list of companies for marketing and sales to align around
- Expand the account profiles with company information and contact data for buyer personas, expanding the opportunities to connect with potential new customers
- Engage contacts in those accounts through a variety of tools and technology such as email, direct mail, advertising, social media, events, video, whatever channel is most applicable as long as it’s “on their terms”
- Advocate through word-of-mouth marketing and providing an awesome experience for your customers (whether they’re paying your company or not) to create an authentic voice for your brand
With these four stages of account-based marketing, or a comprehensive B2B customer experience, there are a variety of tools and technology to align at each stage. And with so many vendors claiming they can do ABM, I came up with another idea to help educate B2B marketers on how to actually do ABM.
Building Your Account-Based Marketing Stack
With the existing ecosystem of a CRM, marketing automation, and other tools in the B2B MarTech stack, practitioners needed help with understanding opportunities for improvement. Thinking about maximization, how can martech stacks be “hacked” for ABM programs?
Using the #FlipMyFunnel model as a baseline, Terminus …read more
Read more here:: http://chiefmartec.com