Taking the Right Approach to ABM

ABOUT THIS EPISODE

In simple terms, account-based marketing (ABM) is about targeting the prospects that really matter.

It's about a laser-focused approach to marketing and sales.

Behind the scenes, however, a lot needs to happen. It includes ensuring that marketing and sales work together to attract, engage, and nurture prospects.

On this episode of Marketing Spark, Andrei Zinkevich also points out that ABM also involves determining the customers that you don't want as much as the customers you do want.

Andrei goes into depth about how his company, Full Funnel, helps B2B SaaS companies leverage ABM to drive leads and revenue growth.

Hey It's mark evins and you'relistening to Martines Park in the baby world, you hear a lot about Ab oraccount base marketing in simple terms, involves focusing on a small number ofcompanies to buy marketing and sales engagement, and if a practice, there are many moving partsto get inside into Ab and how it has been evolving. I'm excited to betalking with Andres in Kabic cofounder of full final Doti. Welcome to thepodcast on thanks for Fagin and Mar supersitious e about Ab Amal sensorletter to competitor we've got a lot to cover, there's so much insight that youoffer on Linkedin and I'm excited to get into it. But let's start with ab M, you hear a lot about it. As companies B,B, B B S Companies Look to leverage it from a marketing and sales perspectiveto really hone in on the prospects who matter what's going on? What is thestate of ABMELECH anged over the last eighteen months? I believe that a B Mis a topic that gets lots of hip and it's just becauseas anything and marketing ABMEDNUGGAR, these are work market and terms thatare not really clear to the companies. Lots of companies don't have market andbackground, and there Raly on the content of Marta Wanders and theirknowledge of abime is limited to the block, Pos e boks webinars produced bythe Marta vendors and that's the huge problem, because in a majority of cases,whenever I talk to non market and executive, I mean executive who doesn'thave a becrowning, and I ask: What's your take on Ab m? What does it mean toyou? In most cases, people just cry, but am a little bit generalizing ofcourse. Right now, but in most cases people describe it as this play at hasa warm a play, and I would bound so not a news here. So just just play addsthat a pretended to warm up strategic accounts and then it's a kind of outradge sequence and that's it. Butthe truth is that come by marketing is just as specific or what we used tocall it. Lasertag Ted approach when Yo, though an appropriate a countlessbuilding, we can cover this and York, and the accounts that I included inyour list are not just only the accounts that fit yo. Let's say ademographic criteria, formarat a creatur, but the accounts that haveexist an need in your services. Somehow they showed the interest in the productlike this, you have some sort of engagement and you know that yourproduct might help to achieve their...

...goals or fulfill the existent needs. Sothat's that's the key and your approach. In most cases, you know there are lotsof talks that a BMI has a different place like one O, one one to few one toManon, but the truth is that a combes market an originate from one to oneapproach. It means that you deliver a specific warmup program and specificsolution to a specific company like Andre Sinker is offering Samson to mark Evans to helphim to achieve his goads, and that's the different from US market in thebiggest problem. Is that lots of companies don't realize this? They don't have.Let's say that don't have enough skill set and that's why they're lie heavilyon the content that is available and they tend to think that it's justenough to purchase expense of a DM software, because this way you'll be myadvance or whatever they. You know. They think they will be it's enough toput our more money into this play at and then just do the outpace. That's tt that's the biggest problem. I am still right and that is the future. Getthe companies that understand how to do the Abama e right way, crow and reallyfast. That's a lot of information to digest in a short period of time. Youmentioned this building and it does sort of strike me that howis a company WHO's interested in abmarsch process? What should they do?First to make sure that they they do it in the right way from the beginning, Ye absolutely Fasif the fall aunch inany program. Not only abime should do the fundamentals, the right way, whichmeans that you, but now what porticas are the most profitablee and the mostfurcate of to your business. The next step is understanding the needs, thegoals of this, of the prospects of the accounts from the specific particle andthe way. How do they purchast your product? That's crucial. So in thiscase- and this is how you build your ideal customer profile- it's not justabout saying: Hey- want to prospect, start ups from North America with thisteam size, you know, and this revenue level now the gold used to identifinthe common criteria or outside the common patterns or features of Yourbest customers than from customer intervue to understand what figuresthem to start. Looking for products like Heos, how do they use theseproducts? How do they run their research withwhom they advise? What influence has their decision make and process? Andnow what? Let's say? What questions have been discussed at in housemeetings when they are considering...

...products like yours, and this iscrucial, because this is the only way how you can develop your market and andselves protest? It should be your market and ourselves process should bebuilt should be based on how your customers bind not how you tend to singtheir bond. So this is crucial before lunch on any program, not only ab so onit's dumb, then the next step is discussin account qualification anddisqualification criteria. I have heard a lot about qualification and usuallyit's all about team size revenue, let's a geographical era et ce, but thetruth as that ran so many non standard or UNE Cratera, forever. Verto collap,let's make a precise example so wish once of Twere Development Company willnarrow their focusing on position, and then we were looking one of the accountqualification criteria was that, let's say the product team of this specifictarget accounts should have mobile as decay and there linked and profiledescription because we knew if they had this. Let's say in that title. Thismobile as De k was a key priority, so they could fit with that service. Youknow the specific accounts and if they didn't have it, then it means that mybales decay is the lowest priority and first that was a huge qualificationcriteria. So we didn't waste time on the wrong accounts and next up is justqualification. No, I have rarely assumed that anybody talks about thisqualification, but the truth is that not all accounts are good feed for you,even if they fit you all at say: Revenue Team, size, geographicalcriteria, the Trois. Let's say: Let's take this specific example, I justshare up so in this case the disqualification criteria was if cityor P, U it had a back, a or degree in for Salia countries or India, and theonly reason for this why we just qualify this account because your theyhave had strong network or connections in these countries and they could finda cheaper vender for this specific services. So that was another justqualification Cratera, which is not obvious or in one example, so vas, oneand price Finta company as a disqualification criteria. We had twopoints if well a prospective chief financial officer so cf course, and ifthey were the first year on their position or if they spent more thanfive five years at the same position at the same company. We just qualifiedthese people because the troes again, the trust, was that if they, if it wasthat first year, they didn't want to change anything and if they spent morethan five years, it means that they have already established some specificprocess and they had a software and...

...again they were not willing to changethe way how we knew it again by writing in deb's customer interviews asking thequestions that I have already mentioned and understand them. So that's that'scrucial and then again thought these are the key points and then you need tounderstand two more things before reach him out. You should warm up accountsand again we just touch this forming up is not just pouring more money in intoIp based display at because the process. I know Chris Walker actuallyarticulated this issue really good. So look where people spent most of thatday. They use C RM systems, they you slack email, they use a Sano, whatevera notion for project management, and they spent ninety percent of that timein this software and he won't be able to target them with display ads. NotEverybody is hanging out on Linkedin as lots of wanders and form up we canAugust attach. You should do completely different things when it comes to warmup and then activation when it comes to activation. You should set up a let'ssay, a specific account engagement threshhold. You should set up accountengagement triggers when you should be rich and out. So you know this accountsare warm up enough and they are ready to talk to and definitely they showedsome interest in a product or insolint. You are Selem, so these are the Tedpoints, and the last one is that marketing and sales should be alignedon these programs, which means that everybody knows how the campaign isRynin, what everybody should be doing at what time etcetera. So it's notabout market and is to a part of campaign. An sells doing is completelydifferent part of this campaign and nobody knows how the entire programworks. That's a lot of ground to cover in some great advice, but the one thingthat I wanted to hone in on was customer insight in the importance oftruly knowing who your customers are. So that when you're doing a Bam orcontent, marketing or social media or advertising you're targeted on theright people in the right place that I'm interested in your advice on howBob Companies can get that customer insight, what do they need to do toreally understand their customers? Their motivations pains aspirations,all the things that you need to know so that you can connect and engage withthem. The most important part is run on this interviews with customers. If I'llask them companies, I mean ten random bet to be companies right now. Ibelieve nine of ten will tell they have never talked to their customers, whichmeans that just guess working on how their customers approaches m solutionslike this. What's the value they get on...

...from this product and then it meansthat your market and message in general is just a guess. Work. You don't knowif it's validated, so you are playing, I say, not predictable game. You arenot sure if your message will resonate with new strategic accounts for oneresonant. So that's the key point. You need to have these in depths intro, sowe have a specific process again. We can tice the details, but the key pointis that, during this interview, you should ask five groups of questions andthe first one is all about the research protests which, where you ask who is incharge of the research if, when it comes, you know when it comes tolooking for solutions to these specific challenges. Where do you go? Who Do youask you now, so you can understand if they are there, let's say, join an aspecific community and ask a question: Let's say market and community, andthey ask there what's the best around, for I don't know, Finta company, justrandom example. This is the way how they buy. Next one is all about thevalue. So this is how you can refine your market, an message. So what's thevalue or getting from our product, what specific outcomes do you have not inthis case you avoid situation when they just answer. I love your product, whichmeans Masseno the prospects, but does I love your product is to Mona mean toanybody? Nothing, but if they say this product helped me to improve myoperations generate my money caught the costs whatever. Then it's actionable,that's the key point. So next one is who had the end users- andthis is how you Howyo can identify the part of the buying committee. NextGroup of question is questions as all about the bind commite structure andthe decision making process. So you can ask when you just when you havediscussed our product who was evaluating or considering it, and thenyou can identify the rules that I influence on the decision makingprocess what questions did they ask? Did you compare us to any other vendor?This is how you can identify the real competition. Why did you choose USthat's! This is how you can understand what resonated and your message wasthem and the most important question: Why didn't you choose our competitors?Now you can understand what what you stands for, what what's thedifferentiation for your prospects? Not what you are thinking about, whatdifferent hates your product, but you just hear it from your customers andfinally, you can ask the questions about the channels instead of guessing,thus because my companies in beautiful space, I should go for Linkedin, andnow you can ask questions like what channels what platforms do useregular. Where do you know what people do you follow if you, if you want toask a question: Where do you go et...

Cetera? This is how I can identify this.What what is being called right now dark final. This is how I can identifythese channels displays of where they hand out, and this is why you should bemarketing your product, your Sorris, so the only way to loan and understandthis is just by talking to your best customers. I don't know how you canfind this another way. I want to talk to you about the stay obbe marketing Itwo thousand and twenty two, but before we move on, I wanted to circle back onthe statement that nine out of ten marketers don't talk to their customers,and that strikes me. I'm not surprised to be honest with you, but that strikesme as incredibly naive or ignorant of the people that matter as marketers.Yes, it's important to focus on running campaigns and creating content, but whydon't marketers truly know their customers? Why aren't they interactingwith them on a regular basis, not just net promoter scores or an occasionallunch or survey, but spending the time to understand who their customers areand what makes them tick? What's the block or thing that is stopping them, I will share my honest opinion. Thefirst one is that bit O be marketing is not taught in schools, so in a majorityof cases marketers journal accompany, and if this culture of talking tocustomers in trew and customers wasn't evolved in this organization, theysimply down dot. Nobody says that they should be doing this and they're movingfrom company to company and nobody talks about this. So that's that's theproblem and the next the next issue. Let's say the modes spend in a marketon space, the more they are ignorant the fact that they should be talking totheir customers, the more uncomfortable it becomes. When they there, when theyrealized the importance, so it means you know, I need to call somebody andthen let's say I have heard multiple time times the objection that whyshould our customers tell to us, we don't want to bother them right. Butbut the question is, for me is just a red fleck. So if your customers are notwilling to dedicate ten fifteen minutes of their time to you, it means that youhave a huge problem. It means that at one point you can just receive an email. Sorry guys were not going. We want to cancel our account or we arenot going to resign. Our contract so you'll be dealing with charm. You canjust lose your best customers and when you are regular talking to customers,not only you can generate this, this specific insights, because we alsodidn't talk about the count. Expansion, which is part of Abimes, usually ab M,as all about regeneration, correct, generate a more opportunities, but it'salso about deal expansion. So you can...

...ask if you have a case study asuccessful use case. You can talk about the strategic goals initiative and, ifyour prospectum, let's say multinational companies, you cangenerate a new opportunity in a new prince, so lots of ideas and the onlyway to do it is just by talking to customers the next one is alsoattracted the satisfaction, because lots of companies operate with the mindthat they that their customers are happy by default. If they are notcomplaining, it means there happen, which is absolutely not true, so youknow they might be dealing with small issues and the more the modest issues are compounding thehigher that the hid, the chances that they will start and new research to find an alternative tofind a new vendor and he'll just get at one point and a male say in sorry,they're, just canceling our account or and not going to to workers. You that'sthe problem. So to answer to prapperty he the first one is that most marketersdidn't Lorne from school, so the fundamentals of marketing and broken.So they don't know they should be doing this and the more time they spent amarketin the more time they focus on different aspects of market in but nottalking to their customers, the more uncomfortable it becomes to them. TheBB marketing landscape has evolved a lot over the last eighteen minutesmonths. One of the biggest challenges is that conferences disappeared. I'mcurious about your take on what you see is the most interesting marketingtrends, as we had into two thousand and twenty two and are ther platforms thatyou believe that bb marketers need to embrace. I would say one of the most interestingtrans and I lait more and more companies. Again, it's still amiserable amount of these companies, but more and more companies are startin doing the man generation and involving executive teams sales teams.So the goal of this is changing the perspective of their company. The goalof the men generation is definitely connected with strategic accounts andit's also a part, it's a part of a combat market, and it also helps toestablish this pierce relationship and deliver fierce related condem, becauseexecutives can share the content that is related to dedicated to executivesoda strategic accounts. Marketers can talk the content that is related tomarket or etc. So you got the idea. Pierce related content, diversifiedcontent strategy next one. It also helps to reposition their selves team.Instead of being yet another sales rap their sell steam becomes trustedadvisers, that's a huge differentiation,...

...so they are strategic accounts tend tothink about sales people not as just as they are bedims or whatever of companyC, but people who are sought leaders in this specific narrow market. Theyshouldn't have it's not about heaven. You Know Ten k followers on Linkedin ontwitter, absolutely no, it's being treated or considerate as a SOP leaderon this specific small market. That's an ice trend, and I'm saying of course,of course, if I'll talk about, if I consider the entire world at this trendis mostly I'm seeing the TRAMP, mostly in North America and United States andCanada, but in Europe also, we have some nice examples, and this is what Ilove this is. This is how companies this is the easiest way to connect withstrategic account, because when they, you know you are connected, and thenthey are opening a profile of SR of an executive. They see that this processis Sharon, a valuable contact trust immediately. They build this trust. Sothat's that's one of the most interesting Trans Ime seem well thanksfor listening to another episode of marketing spark. If you enjoyed theconversation, leave a verve subscribe, I itunes, spotify or your favoritepodcast, AP and sure via social media, to learn more about how I help be to beSASS companies. As a fractional C Mo strategic advisor and coach send anemail to mark at marketin spark co or connect with me on Linke I'll talk toyou next time.

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