From Prospect to Customer: Maximize Lifetime Value with Account Based Marketing

@HeidiBullock @Engagio
From Prospect to Customer: Maximize
Lifetime Value with Account Based Marketing
Radius B2B Champions Club

What you’ll learn
1. Why you should not solely focus on
acquisition
2. Why ABM is an effective marketing
strategy for the entire journey
3. How to think about programs
4. Tips for measurement and optimization
Heidi Bullock
CMO
Engagio
@HeidiBullock

Today
3
Not enough
of the right
types of
leads
Poor quality –
80% never
convert to
Sales
Sales alignment
- Poor efficiency
Issues with
churn and
retention
Missed
Targets

Examine your current acquisition strategy- How well
is it working?
4
Broad-based
Mostly inbound
Lead-centric
Goal is volume

Are you too focused on acquisition?
5
This needs attention as well!

Important to think about CLV

Focus on the right type of customer
7
What is our ideal customer profile (ICP)?
Example: Higher ACV
compared to non-ICP, better
retention, cross-sell
opportunities

Rethink your mindset…
8
It’s about the right accounts.It’s not about more…

AND
Fishing with nets. You don’t care which fish you
catch as long as you catch enough fish. The fish
always swim towards you.
Demand Generation
Fishing with spears. You care deeply about
which fish you catch, and you’re going to
proactively go pursue those fish.
Account Based Marketing
Need a different strategy - ABM

ABM is useful here

ABM is effective when you need to drive ongoing
value
11

Step 1: Understand your best
customers + create goals

Do you know what type of customer or segment is
ideal for your business?
13
Segment Customer Churn Rate Revenue Churn Rate
<50 42.3% 43.54%
Small 23.3% 23.54%
Medium 11% 11.4%
Enterprise 5% 5.7%
Look at your key segments. Do you know which is the most profitable for the
business? Is your current strategy optimized for that?
Example:

Copyright ©2016, Engagio Inc.
Define your ICP
14
1
Identify your ICP – Ideal Customer Profile
• Historical data – (where have you had success?)
• Key vertical (ex: healthcare, entertainment, construction)
• Firmographics – (size of company, revenue, geography)
• Other signals – intent data, hiring patterns, etc.
2
3
Figure out the TAM – Total Addressable Market
• How many accounts in my database fit that profile?
• How many in GEOs we support (location)?
• What is the white space?
Prioritize Accounts
• Can use predictive scoring (account scoring) + intent data
• Sales input
• Historical data (closed won analysis)

Create your plan
15
$$$ Revenue Goals
Pipeline Required
(sources can vary marketing, sales, partner)
How can we bring in the BEST quality pipeline most efficiently?
ENT Segment – Need Z%
POR GOAL
Mid-Market Segment –
Need Y%
POR GOAL
Small-Business
Segment –
Need X%
POR GOAL
Example: inbound
marketing model
Example: Programmatic
ABM
Example: ABM
What is our optimal strategy to get there (mix of DG /ABM- programs, tactics)
This
breakdown
should be the
optimal mix to
most
effectively hit
revenue
targets

Set goals - Be clear what you are moving towards
Have a hypothesis – We think this set of accounts in the health
care vertical makes sense for us to pursue.
–Higher ASP
–Faster sales cycle
–More cross-sell, up-sell potential
16

Example scorecard
Engagement Sales Appt Pipeline Opportunity
Size
Win Rate
>80%
of target accounts.
>30%
tier 1 prospects
40%
of enterprise initial
Pipeline from
Targets
45%
increase in Opp
Size
50%
higher for target
accounts
Time frame = Year One
Should HELP get to your revenue goals more efficiently

Strategy 2: Define buyer
segments

Identify key personas
19
Persona A = Exec sponsor
Persona B = User
Persona C = Decision Maker

Have clearly defined journeys
20
PERSONA – A BUYER’S JOURNEY
STAGE GOAL AWARENESS CONSIDERATION PURCHASE ADOPTION X-SELL/UP-
SELL
ADVOCACY
BUYER GOAL I think I have a
problem
How do I fix my
problem and why
you?
What do I need
to buy?
I can I get
going fast and
be successful
with the
product?
I like product x, I
would like more
seats, or I am
interested in
product y.
I love the
products – I am
happy to
recommend to
others!
CONTENT Targeted ads,
blog posts,
ebooks, events,
webinars
Video testimonials,
field events, case
studies, analyst
reports
Product video,
on-site
workshops,
demos
Workshops
Online tutorials
Product
webinars, video
testimonials,
case studies
Early access to
new features

Segment your customer base
21
Industry
Size of
Organization
Health of
Customer
Target
Account
Example:

Map your products to key customer segments
22
BUY
Segments
Product A Product B Product C
Segment 1
Persona
Segment 2
Persona
Segment 3
Persona

Account Tiering
Large- 5-50 accounts (“tens”)
Rich account plans; Every touch personalized
$100K – $1B+
Named -50-1,000 accounts (“hundreds”)
Light research + data build out
Personalized touches to key personas
$50k – $100k
Industry - 1,000+ accounts (“thousands”)
Automated touches OK
Industry and persona customization
$25k – $50k
Style 3
Programmatic
Style 2
Scale
Style 1
Strategic

Type of
Program
Program Accounts
Tier 1 Tier 2 Tier 3
Direct Mail High value Post card – lower value Post-card lower value
Field Events Lunch and learn + dinners +
onsites
Lunch and learn Lunch and learn
Tradeshows Special dinner
Playmaker sends Yes Yes Yes
Database sends In some cases OK Yes Yes
Targeted Ads Yes + tailored content + logo Yes + industry Yes – industry
Content Syndication Yes – verticals and key
companies
Yes – verticals Yes -verticals
Sales outreach Yes (calling campaigns, drive
attendance)
Yes (calling campaigns, drive
attendance)
No
Appt Setting Yes Yes No
Contact Discovery Yes Yes No
Customer content
Custom streams
Yes (tier 1 and 2)
Program entitlements

Be honest…
• What can Sales realistically support?
• What can Marketing support?
–Resources
–Budget
26

If you remember one thing today
27
Random acts of kindness = good Random acts of marketing = bad

Anatomy of a program
28
Goal: Awareness
Is the company aware of your
products / services?
Goal: Engagement
Are the right people engaged
and interested?
Goal: Action
Do they have what is required
to make a decision?
Ask: What set of tactics make sense for these objectives?
Note – It’s never just ONE activity.

Where do you have coverage?
Do you have sufficient data, opt-in contacts, and account
plans for each target account?

Where do you need to drive awareness?
Which target accounts have any awareness of us? Are they
visiting the website?

Content for different tiers
• Messaging for key buyer(s)
• Content for different stages – can be simple!
31

Content examples
32
Targeted Ads Personalized eBook Personalized Video

Program Example – Goal – Penetrate New
Accounts
Targeted ads
entire account
Email
T: Head of Sales
F: ADR
Direct Mail
Key
personas
Email
T: Head of Marketing
F: ADR
Checklist
Package received?
Phone
T: Head of Sales
F: ADR

Program Example – Goal – Drive a Decision – Deal
Nurture
36
Challenge – Initial interest, but a deal
slows or does not progress to the
next stage
Solution – Run targeted play to key
stakeholders to shorten deal cycle.

Important for Customers
You NEED to be:
• Personal
• Timely
• Relevant
• Authentic
37

38
Program Example – Goal – Upsell/Cross-sell
Challenge – To ensure customers are aware of
different products/services.
Solution – Run targeted cross-sell play to right
individuals in account – in a personal and timely way.

Make it Personalized to Drive Results
39

Strategy 4: Measurement
and Optimization

ABM metrics are different
•Focus on quality not quantity
•Track accounts not leads (MQAs not
MQLs)
•Time spent (engagement minutes)
•Track impact and influence more
than try to apportion ‘credit’ (team
effort)
41

What to measure
42
Do you have
sufficient
data,
contacts, and
account
plans for
each target
account?
Are the target
accounts
aware of your
company?
Are the right
people at the
account
spending time
with your
company? Is
that
engagement
going up over
time?
Are
marketing
programs
reaching
target
accounts?
Are ABM
activities
improving
key sales
outcomes?
COVERAGE AWARENESS ENGAGEMENT REACH IMPACT

43
Early Stage Metrics Later Stage Metrics
1
• Coverage
2
• Awareness
3
• Engagement with key programs
4
• Meetings
1
• Customer MQAs
2
• Opportunities
3
• Pipeline
4
• Impact/ ROI
Tip 1- Measure at different points in time

Tip 2 -Take a baseline
44

Example - How to report on early stage progress

Tip 3 -Know what is effective at different stages of
the customer journey

Tip 4 - Optimize with ongoing testing
47

Test! Core Prospecting Play
205 193 113 45 24 1Mtgs Opps Deal
(so far)
EngdPkgs Resp
22%
Meeting Rates
Books only: 25%
Kindle only: 21%
Ads and Kindle: 21%
Ads and Books: 13%
Not significant
Web Traffic Visitors
Ads +43% +47%
No Ads +22% +8%
Directionally meaningful but not significant
34.2x pipeline to spend

Tip 5 – Have a dashboard to report on progress
Tier
# of
Accounts
Awareness MQA
Sales
Appt
Opps
Pipeline
ACV
Conversion
to Opp
C/W Deals
C/W
ACV
Conversion to
C/W
Tier 1 # # # # # $ % # $ %
Tier 2 # # # # # $ % # $ %
Tier 3 # # # # # $ % # $ %

Take-Aways
1. To drive growth and revenue, do not focus ONLY on
acquisition
2. ABM is a powerful strategy for entire customer journey
3. To engage your customers, delight them with personal
and relevant communication
4. ABM metrics are different – it’s not about volume
5. There is not one golden metric, measure at different
time points
50
Summary

From Prospect to Customer: Maximize Lifetime Value with Account Based Marketing

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