Today I participated in my first-ever Twitter chat, hosted by Terminus. I discussed account-based marketing (ABM) with 27 other participants, who ranged from front-line B2B demand gen professionals and marketers like myself all the way to CMOs. So exciting to talk to such a well-versed bunch!
Terminus presented questions to the group, and more questions arose organically, running the gamut from whether ABM changes marketing’s relationship to sales (@PamHege), and how to properly attribute marketing’s contribution (@CandyceEdelen) in ABM. It was fast and furious, and periodically confusing! I’m not the most adept Twitter-er.
I recommend perusing the #ABMChat to learn a few things for yourself!
Here are key take-aways I got out of the experience:
- Traditional lead-based B2B marketing becomes difficult when you rely on “vanity” metrics (such as impressions and traffic) that fail to align leads with sales accounts. This drives a growing demand for leads that can’t be managed well by marketing. (credit to @sangramvajre, @PamHege, @mattbenati, and @AndrewDammit)
- The keys to transitioning to ABM are aligning marketing with sales during account planning, mapping your accounts to identify quality targets (not just lots of targets!), and then focusing on the leads who align with those prioritized accounts. (credit to @marketinguynate, @jeffperkins, and @CandyceEdelen)
- Making ABM work requires marketing and sales to align on success metrics, agree on account engagement strategy, and meet daily to check on progress. (credit to @jeffperkins8, @kerrileevogel, and @MeddlingMinds)
- Traditional lead-based metrics, like lead volume, impressions, and traffic present challenges in ABM, as these figures don’t correlate to revenue, and many leads generated aren’t targeted. ABM is all about focusing on the right leads, not just more leads. (credit to @mattbenati, @jeffperkins8, and @sangramvajre)
- The best ways for a marketer to measure success in ABM include number of accounts identified, number of key contact relationships, acceleration of pipeline, reduction in sales cycle, and ultimately revenue. (credit to @jeffperkins8, @marketinguynate, and @mgkelly)
The Twitter chat saw a huge number of contributions, and the above is far cry from an exhaustive list. Clearly the space is evolving to explore and embrace opportunities for ABM to accelerate sales and marketing performance. It’s so much fun to participate in the discussion and hammer out the conceptual elements. However, the rubber has to meet the road somewhere, so when you’re ready to pursue ABM, make sure you have the right tools at your disposal to help ensure success.
Looking forward to next month’s Terminus Twitter chat!