#FlipMyFunnel Austin - Jon Miller - Account Based Marketing and Sales Development - Aligned
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Jon Miller, Founder and CEO of Engagio, recently presented “Account Based Marketing and Sales Development - Aligned” at the #FlipMyFunnel Austin.
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#FlipMyFunnel Austin - Jon Miller - Account Based Marketing and Sales Development - Aligned
- 1. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Account Based Marketing and Sales Development - Aligned Jon Miller, Founder and CEO @jonmiller
- 5. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Agenda 3 Step ProcessOutbound = ABM + ABSD When Inbound Isn’t Enough
- 6. When Inbound Isn’t Enough
- 7. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Remember this?
- 8. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Scaling Inbound What if you are here? Inbound
- 9. “Relying solely on inbound marketing is like hanging out with the same kids from high school your whole life.” – Jason Miller
- 10. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Scaling Inbound versus Outbound Inbound Outbound What if you are here? • Quick wins • No waste • Easier to double • Bigger deals
- 11. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Preso in a Nutshell Inbound Outbound
- 12. Outbound = ABM + ABSD
- 13. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller ABM Is the Hottest Thing in B2B Marketing The Next Big Thing? Google Trends for Account Based Marketing Engagio founded
- 14. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller But Marketing Isn’t Sufficient for Outbound 14 ABM Not Enough Source: TOPO 15% Penetration into target accounts
- 15. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Account Based Sales Development • Account-centric • Personalized • Multi-channel “Today’s most effective Account-Based tactic.” – TOPO
- 16. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Account Based Marketing Account Based Sales Development
- 17. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Hello, Account Based Everything Messaging Engagio Orchestration Platform Account Based Marketing Account Based Sales Development Account Based Sales Account Based Customer Success
- 18. The Three Step Process for Outbound ABM + ABSD
- 19. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller #FlipMyFunnel What do we want to say? (offers) Who should we say it to? (segments) Who are we trying to reach? (accounts) What should we say? (message) Where should we say it? (channels) Where should we say it? (channels) INBOUNDOUTBOUND
- 20. Who
- 21. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Styles of ABE 5-50 account (“tens”) 50-1,000 accounts (“hundreds”) 1,000+ accounts (“thousands”)Hybrid Lite Classic
- 22. What
- 23. With #Outbound you need to knock on people’s doors. – @jonmiller
- 24. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller
- 25. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller • Spam – guessing emails • Vague, irrelevant messaging • Attempt at "personalization" with totally wrong data [bold] • Focused on their needs rather than value to the customer • Typos
- 26. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Opt out, tune out, toss out
- 27. “Template emails are roulette wheels. If you only get 100 rolls of the roulette wheel, then you need to increase your odds.” – Craig Rosenberg
- 28. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Outbound Does Not Mean Interruption Apply the best concepts from demand generation to outbound: • Content driven • Helpful and valuable • Focused on the buyer, not your company • Personalized and relevant • Human No Cold Calls
- 29. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Three most important factors in enterprise decision: • Knowledge and understanding of my unique business issues • Knowledge and understanding of my industry • Fresh ideas to advance my business ITSMA “75% of executives will read unsolicited marketing materials that contain ideas that might be relevant to their business.”75% 25% Yes No
- 30. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Challenger Sale Challenger Offers unique perspective Two-way communication skills Knows customer value drivers Can ID economic drivers Comfortable discussing money Can pressure the customer Asserts Control Tailors Teaches
- 31. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller • Market • Company • People • Relationships • History • Connections • Door Openers What To Research
- 32. Where
- 33. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Channels for Account Based Everything Marketing • Events • Direct mail • Online advertising • Web personalization Channels
- 34. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Channels for Outbound Account Based Everything Marketing • Events • Direct mail • Online advertising • Web personalization Sales / Sales Development • Human Email • Phone • Social Channels
- 35. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller
- 36. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Kermit, you email the CEO Bert, you email the Director of Marketing and followup with a phone call Fozzie, you send a bottle of wine to the CEO Start the Play
- 37. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Account Executive Marketing OpsSDR Manager Roles Account Management Account Executive Sales Development Rep CEO Sales Ops Coach Quarterback Players VP, SalesDemand Gen
- 38. Other Implications of ABM + ABSD
- 39. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Lead to Account Matching Leads Account Fuzzy logic match: Better routing Account-level visibility
- 40. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Marketing Qualified Accounts (MQAs) not MQLs 40 Breadth Depth
- 41. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller BANT • Budget • Authority • Need • Timing Qualification AN • Authority • Need There’s a project in the next six months (Opportunity) A Meeting with the right person at the right company
- 42. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller • Account-centric metrics • Quality, not quantity • Long development cycles • Influence
- 43. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Impact: Are ABM activities improving key sales outcomes? Do you have sufficient data, contacts, and account plans for each target account? Coverage: Are the target accounts aware of your company?Awareness: Are marketing programs reaching target accounts?Reach: Are the right people at the account spending time with your company? Is that engagement going up over time?Engagement:
- 44. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Impact: Are ABM activities improving key sales outcomes? Do you have sufficient data, contacts, and account plans for each target account? Coverage: Are the target accounts aware of your company?Awareness: Are marketing programs reaching target accounts?Reach: Are the right people at the account spending time with your company? Is that engagement going up over time?Engagement:
- 45. ABE Market Map
- 46. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Selection Identify and prioritize target accounts, align on resources by Tier 1, 2, and 3 Contacts Discover contacts and map to your accounts, ensure quality data Insights Understand what is relevant and resonant at accounts (triggers, priorities, etc.) Interactions Manage 1:1 account-based interactions in channel – events, outbound, digital (ads, web) Orchestration Synchronize interactions into coordinated plays that align to account plans and goals Analytics & Infrastructure Map leads to accounts, identify hot accounts (MQAs), measure ABM efforts Content Create account- specific content and messaging that reflects insights Ads HumanEmailEventsDirect Complementary Web Predictive AttributionAnalytics Dialing Insight Sources Aggregation
- 47. engagio.com/Guide Get your free copy today! The Clear and Complete Guide to Account Based Marketing
- 48. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller • Outbound can be easier to scale and driver larger deals than inbound • Marketing isn’t sufficient for comprehensive account-based outreach • Outbound does not need to mean interruption; use account-specific research to maximize relevance • Coordinate account-based plays across channels and players for maximum impact • Lead to Account Matching is the foundation of account-centric success Tweetable Takeaways @jonmiller
- 49. 49
- 50. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Engagio PlayMaker Challenge We Solve Multi-step Multi-channel Multi-player Human Touch Cloud Connected Engagio PlayMaker orchestrates multi-threaded interactions across departments and channels to engage accounts with the human touch.
- 51. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Touch Day Step(s) Description 0 Pre Research Find out 3 pieces of relevant information 1 Pre ABM Ads Build awareness with targeted ads 2 Pre Dimensional Mail Package / postcards to decision maker + influencers 3 1 Triple Touch Human email + voicemail + social (InMail) 4,5 1 Double Touch Human email + voicemail 6,7 3 Double Touch Human email + voicemail 8,9 7 Double Touch Human email + voicemail 10,11 13 Last Chance Last chance email + voicemail Ongoing Ongoing Human Nurture Share relevant insights ever 3-4 weeks Multi-step and Multi-Channel TOPO
- 52. Copyright ©2016, Engagio Inc. All rights reserved. @jonmiller Account Based Sales Development • Multi-channel • Multi-step • Multi-player • Research oriented • Human Tip: measure quality of interactions, not just quantity
- 53. Multi-Player Prospecting Any one person can say no Two “no” rule
Editor's Notes
- Long time to scale Can’t easily double Inbound saturation “Column B” syndrome “Inbound dependency” Indirect learning Hard to tie activity to impact
- ABM is an investment in time and resources so you MUST focus on accounts with highest ROI
- Why now? What about mobile, social, cloud, etc. makes this inevitable? Harder than ever to reach decision makers with traditional tactics New ways to reach buyers (individually-addressable touch-points, real-time ad buying) Shift from campaign-marketing to “always on” mindset requires integration Big data / predictive analytics allow marketers to understand the complexity of relationships and buyer context, and match personalized content accordingly Buyers delaying engagement with sales ; harder to reach CXOs {happened in velocity, needs to happen in XYZ} Decomposition of the nice/clean customer funnel… no longer just awareness, familiarity, consideration, etc. Useful model, but. Really a set of nodes, interactions (through a connected device) New ways to reach buyers Proliferation of “connected customers” and customer data -- smart phones, smart devices (50B connected devices) behind every device is a customer → data proliferation From campaigns to “always on” Big data / predictive (understand the complexity of the relationships, context) Needs new ways to measure
- Account centric good! But, if Sales and Marketing are both taking an account-based approach but don’t know what the other is doing, that’s a recipe for trouble. One part of the group in isolation makes this decision (e.g. do ABM), and that doesn’t work. If Sales and Marketing are both taking an account-based approach but don’t know what the other is doing, that’s a recipe for trouble. [Requires SFDC tracked properly.] One part of the group in isolation makes this decision (e.g. do ABM), and that doesn’t work. Marketers are currently only getting 15-20% penetration into target accounts [TOPO] ABM does not work in isolation – ABE is the mandate
- Wrong: what we want to say, how we want to say it target the right people RIGHT: who we want to target what and how to say it
- Need to LISTEN
- “You’re going to have to spend some money to be really good at account based marketing. But it’s OK because it’s the accounts that will make you the most money.”
- To move to the enterprise, MuleSoft moved to “Sales Development Consultants” not SDRs They’re the quarterback; the don’t OWN the account, but they LEAD the effort SDRs know more about what’s happening at the account than AE, so have SDRs do territory reviews with Sales before their territory review
- TOPO: In traditional outreach, SDRs send large volumes of emails to multiple accounts, make calls to a subset of contacts, and hope that enough buyers will respond. Because account-based SDRs focus on a fixed number of accounts, they maximize their reach using all channels at their disposal.
- So what is a play? Imagine a football play. There are 11 people on our side and 11 people on their side. Each person has a responsibility in the play. Most tools out there now focus on one lead or contact at a time… “Single Player”. Engagio plays are “Multi-Player” and work with multiple people on your team and the account. <CLICK>
- Look at all these people who interact with your accounts across different departments. For this example we will pick out three people to run a sample play. We want Fozzie over there to send a bottle of wine to the CEO of our target account. Kermit our own leader will email him as a followup after the wine is delivered. And finally we have Bert. He is going to email the director of marketing and followup with a phone call. Even simple plays like this can get really complicated. It can be incredibly hard to avoid mixed signals and timing problems. We believe there needs to be a solution that helps coordinate things like this. Let me show you how we do that at Engagio. <CLICK>
- Meetings not Opps A = Authority. When you are talking to the decision maker, make sure to make note of what their title and function is so you can align their needs with your product. This will go a long way when you pitch to them! Hitting what matters to them shows you know what their pain points are. N = Need. Make sure to find lists of companies in the target industry you’re seeking and their size. U = Urgency. Keep up with companies and their latest news releases. If a sales rep is sensitive to the urgencies of companies it can seriously help the sales process. If a company has announced they are expanding their inside sales team or have a new vice president of sales, this could be a cue to contact them. M = Money. Know where the money is. If a company is growing, recently announced a round of funding, or are older, more established companies then they have the funds. In an ABM (Account-Based Marketing) world, Sales has to be willing to have a discussion with someone, no matter where they are in the buying journey. The most important factors: is it the right company, and the right person? Looser qualified lead definitions prevail - BANT is on life support Sales must now early in the buying cycle or before a buying cycle even begins (no BANT) ANUM is new! [see TOPO] Example: Netsuite, SDRs pass a lead as soon as they convince the right person in a target account to agree to a meeting
- The “law of large numbers” breaks down in narrow funnel -- can’t use vanity metrics, can’t count on volumes Only need one deal to make a program ROI look good – noisy data
- Something about Ideal Company Profile
- Account-Based Sales Development: Rather than rely on the high-volume process of outbound prospecting, organizations now strategically define a smaller, more targeted set of accounts and run personalized, buyer-centric campaigns against those accounts.
- Research: Don’t skip this step.
- Targeting outreach campaigns by account enables Cloudera SDRs to research individual accounts and buyers and speak to their exact pain points. As a result, these campaigns produce a 60% open rate, 31% response rate, and massive increases in both net-new opportunities and add-on business from current customers.” TOPO: Cloudera Case Report, September, 2015 Sales Development – or Prospecting – is the heart of every ABM program. It combines email, phone calls and the personalized end of social media interactions into a coordinated series of engagements that develop and deepen relationships. use all the account insight you’ve generated to prove to the prospect that you understand their challenges and have a unique approach to solving them
- Any one person can be sick, ignore, PTO, promote, transfer, fire Do you have major accounts that hinge on one or two personal relationships in the purchasing enterprise? If your answer is “yes,” then it’s important for you to realize that this represents enormous risk to your organization -- risk you need to act on now to minimize… those one or two key contacts can very easily be promoted, transferred or fired, and suddenly you may find that the relationship between your businesses is actually quite shallow. MQA good b/c multithread in account – any one person can ignore you or be on PTO or get sick or leave, but touching multiple people in account gives higher chances Even individuals who possess significant authority still have to build consensus within their company to get approval to move ahead with a purchase. A member of the sales team at New Relic, a SaaS vendor of performance management software and analytics, was close to closing a deal with the CTO at a Fortune 15 consumer products company. But then the deal hit a snag. “My sales rep emailed me that the CTO was going to be out until the end of the quarter,” said John Gilman, VP of Worldwide Commercial Sales for the vendor. “That meant that the deal was not going to happen in that quarter, and the sales rep was going to miss his numbers. If we had a few other relationships at the company, someone else may have been able to step in and move the ball forward.” Gilman pointed out that a multi-threading approach is helpful to avoid similar situations. “For deals over a certain threshold, it is unacceptable to come to the table with one person at the target company,” Gilman said. “You need to know who their manager is, who can say yes, and who can say no. Also, you need to know who can help make the deal bigger.” An examination of successful deals shows that the approach works, according to Gilman. “Most of our successful deals have taken a multi-threading approach that relied on multiple relationships with influencers in an organization.”