For companies looking to execute account based marketing (ABM), simply pinpointing the right customers to target can be a challenge.
Established companies are more likely to have a handle on which accounts make the most sense to target for ABM, while those in more up and coming, high growth areas might not have them identified. The trick is making sure the target accounts have been communicated to the marketing team, so they can move forward, says Jon Russo, founder, B2B Fusion.
“You need people who can collaborate across sales and marketing,” says Russo. “Sales needs to take the lead on account identification and work hand in glove with marketing. Sales may like to own the territories and accounts, but marketing has to orchestrate [the process] and package the right information.”
Russo and Bill Karpowicz, director, global marketing campaigns, Trifacta, presented “Hitting Your Targets With ABM” at B2B LeadsCon’s Connect to Convert in New York.
Many companies struggle with having the right data sets in place to effectively execute ABM, or creating enough content (and types of content) to make it work. “It can become a capacity issue,” he notes.
If a company isn’t yet doing ABM, Russo suggests first getting the revenue strategy in place.
“Know what you are trying to accomplish,” he says. “Are you acquiring new accounts? Are you penetrating existing accounts? Are you trying to improve your conversion odds? Do you want to have more of a multichannel approach? [Decide on] your primary driver and that can be your starting point.”
More From the Connect to Convert Faculty: