3 Account-Based Marketing Myths Dispelled
ABM is a proven strategy for B2B Marketers that want to deliver massive pipeline and revenue growth for their organization. However, there are common misconceptions about ABM that have developed over time. This blog will uncover the truth behind 3 ABM myths to help you determine if ABM is right for your organization.
Myth 1: You Must Choose Between ABM and Demand Generation
Though it’s often thought of as a beast of its own, ABM is in essence, highly targeted demand generation. More often than not, ABM is actually utilized within more general demand gen programs. According to Demand Gen Report, 58% of B2B marketers are focused on a blend of ABM and demand gen initiatives. The goal of demand generation is to draw prospects into your funnel by increasing brand awareness for your product or solution. ABM is at its core, a more targeted version of that, focusing on the absolute highest-fit accounts as opposed to driving a high quantity of leads. To generate and capture demand within accounts of different value, size, and intent levels, ABM and traditional demand gen can be used in tandem. Consider using a tiered account-based approach for your largest and most complex accounts while providing a 1:many “air cover” strategy for smaller accounts via demand generation.
For example, Triblio customer Dodge Data adopted an account-based approach to segmentation, applying different tactics to small and large accounts separately. Performance Marketing Manager, Hassan Brown, noticed that he could drive a high volume of leads and form fills with a 1:many approach to small accounts but he had trouble reaching decision-makers at enterprise accounts who were delaying form fills. To reach decision-makers at these accounts, he created a targeted segmentation strategy based on intent. With Triblio, Dodge Data was able to automatically organize accounts by level of engagement and trigger different marketing campaigns.
Myth 2: There Is Only One Right Way To Do ABM
The truth is there are many ways to do ABM. The top three ABM program structures include Strategic ABM (1:1), ABM Lite (1:few), or Programmatic ABM (1:many). In our Ask an ABM Expert video series, Andrew Mahr, Triblio Chief Customer Officer, explains how to choose a strategy based on goals that are driving your adoption of ABM. To land your first enterprise account or expand business with an existing customer, you’ll want to use a 1:1 strategy to “focus heavily on developing content and programs to introduce opportunities to key decision-makers in an account.” If your goal is account prioritization and outbounding at scale, a 1:few program can help you convert accounts to meetings. Finally, if your goal is to be more efficient with your resources and apply account-based tactics at scale, a 1:many or targeted demand generation strategy effectively targets hundreds or thousands of accounts with common traits or pain points.
Myth 3: ABM Is Just a Marketing Initiative
The M in ABM is a misnomer. Yes, the marketing team leads the initiative, but ABM programs struggle to live up to their promise of pipeline growth and increased revenue without sales buy-in. It may be hard to get sales buy-in because they have historically done things their way and are hesitant to shift from a lead quantity to a lead quality mindset. However, ABM is positive for the sales team because sales and marketing select target accounts at the program’s start, reducing frustrations caused by marketing passing over unqualified leads. ABM aligns marketing and sales teams, leading to consistent messaging and account engagement at every stage of the buyer’s journey. Sales works together with marketing to identify messaging, campaign triggers, and metrics for each campaign. With sales and marketing in lockstep, they can develop a shared agreement on how to measure success and prove ROI for their organization’s ABM program.
Conclusion
There you have it, the truth behind three ABM misconceptions. If you want to drive demand and generate awareness across multiple types of accounts, leverage the strength of both ABM and demand generation strategies in unison. You don’t need to choose one over the other. Consider your goals when picking between the three ABM program structures we outlined. Whether you adopt ABM to target your most valuable accounts or prioritize and outbound at scale, there is a strategy right for you. Finally, marketing can’t run a successful ABM program without sales buy-in. Intentional alignment is essential to delivering revenue and proving ABM’s effectiveness.
Talk with one of our ABM experts to see if ABM is right for you.
