Rahul Danak

The ideal scenario for every business is to sell to high-intent customers and not waste time on unqualified leads. This is achievable through ABM - Account-Based Marketing.

ABM helps weed out companies that do not fit a business’s ICP (Ideal Customer Profile). Doing so ensures that the efforts of marketing and sales teams align to convert best-fit customers.

In 2022, Foundry conducted an ABM & Intent Benchmarking Study. It revealed that 94% of the 500 B2B technology marketers surveyed rate ABM as extremely important in their overall marketing objectives.

TL;DR

• Account-Based Marketing is a strategy to identify high-intent accounts and target them with personalized campaigns.
• ABM helps find best-fit customers, enabling sales and marketing teams to build and nurture relationships with them throughout the sales cycle.
• Take into account factors such as ACV, TAM, product category (is it a new product or an established one) and organization size of your target accounts (SMB, mid, or enterprise) when deciding if ABM is the right strategy for your business.
• Streamline your ABM efforts, measure and analyze their effect on KPIs, and optimize your strategy based on your results.

What is ABM?

Account Based Marketing (ABM) is a marketing strategy focusing on a specific set of target accounts to build awareness and engagement amongst them and eventually convert them into customers.

Types of ABM

There are broadly 3 ways to execute ABM: One-to-One, One-to-Few, and One-to-Many. For each type, we have listed the top engagement programs & metrics used for tracking

1. One-to-One ABM

In this highly customized approach, the engagement is focused on a small set of accounts (Average: 39, Median: 14)* with the highest revenue potential. Existing customers are mostly targeted here (~80%).

Engagement Programs

• One-on-one Meetings, Workshops, Lunch and Learn Meetings to build relationships
• Highly personalized content via emails, advertisements, and dedicated microsites
• Extensive and consistent research on account for gathering actionable insights

Key ABM Metrics 

• Pipeline
• Revenue
• Number of Target Accounts engaged meaningfully (showed high intent such as demo request).
• Number of Accounts where a specific Persona (say VP, Finance) has been engaged.

2. One-to-Few (or Sales Addressable Market)

In this approach, the engagement is performed in a segmented fashion by grouping accounts with similar characteristics. The average number of accounts in this list is 177, with a median of 50*. Both new and existing accounts are targeted here at an equal share.

Engagement Programs

• One-on-one Meetings, roadshows, and virtual events
• Digital advertising, custom email campaigns, and microsites with segment-specific communication
• Tailored outreach campaigns

Key ABM Metrics

• Pipeline
• Revenue
• Number of Target accounts engaged meaningfully.
• Average Number of Contacts Engaged within a Target Account.
• Number of Accounts where a specific Persona has been engaged.

3. One-to-Many (or Total Addressable Market)

In this approach, the engagement takes place at a larger scale, with hundreds to thousands of accounts having the lowest revenue potential. The focus is greater on new customers (70%) than on existing ones (30%).

Engagement Programs

• Virtual events and roadshows
• Targeted demand-generation campaigns with lower customization levels

Key ABM Metrics

• Pipeline
• Revenue  
• Number of Leads from ICP.
• Number of ICP accounts engaged.
• Number of Touchpoints from ICP Accounts.
• Average Number of contacts engaged within a Target Account.
• Number of Accounts where a specific Persona has been engaged.

Advantages & Benefits of ABM

Advantages

• Focuses on a specific set of target accounts only, making it more quality-focused
• Aligns Marketing and Sales teams efficiently
• Utilized to accelerate pipeline through strategic engagement with accounts.
• Gives a better Customer Experience with the level of personalization throughout the engagement.

Do Consider:

• ABM requires a significant amount of investment and patience before you begin to see results.
• Identifying a contact and relevant stakeholders within a target account is a difficult task, especially when the account size is large.

Benefits of ABM

1. Personalized marketing

Account-based marketing focuses on providing personalized campaigns that directly address the pain points of high-value accounts. This personalization helps empathize with the prospects and show that the business understands their challenges and can provide valid solutions. 

2. Build and nurture relationships

ABM also involves engaging prospects with customized messages at each stage of the sales cycle. By engaging with them at every stage, businesses can build a deep understanding of their needs and challenges and provide more personalized solutions. 

By doing so, businesses can build strong and credible relationships with their prospects.

3. Align marketing and sales team

With ABM, the marketing initiative will be more targeted and purposeful for the sales team to align directly with marketing goals.

By doing so, both teams can keep each other accountable for their specific goals. Additionally, this allows them to identify the purpose-driven activities that address the unique needs of each account.

For example, the marketing team will be responsible for creating and distributing highly customized content that speaks directly to the needs of the target accounts. At the same time, the sales team will be accountable for developing and nurturing relationships with key decision-makers. 

4. Higher ROI

ABM focuses on a set of high-value accounts that meet your ICP criteria rather than focusing on a broader audience. And by targeting these high-value accounts with personalized campaigns, ABM can reduce the overall marketing cost and increase the likelihood of converting these accounts into paying customers.

Therefore, the ROI of ABM campaigns is higher than traditional marketing campaigns that focus on a wider audience.

Is ABM the right marketing strategy for you?

Even though ABM has been trending for some time now and many organizations have seen success using it, you should always take a step back and analyze where your business stands before moving forward. Here’s a small checklist for you:

Annual Contract Value (ACV)

Since ABM involves a significant investment, calculate the ACV for your target accounts and determine the resulting ROI. Then ask yourself, is it worth the effort? 

In case you’re at crossroads and have only 3-4 high-value accounts, you can also follow a mixed approach wherein you adopt ABM for those accounts and other strategies like Demand Gen for others.

Total Addressable Market (TAM)

Your TAM is the revenue opportunity available for your product in the entire market. If you have a small TAM, ABM might be a good fit since you can easily personalize your engagement strategy for the target accounts. 

In case you have a large TAM, consider using ABM. You will need to put in more effort to narrow down target accounts and, thereafter, create personalized engagement strategies.

Established vs. New Product Category

Similarly, if you have a product in a new category for which the initial demand is bound to be low, ABM will be a good strategy for you. 

You can identify the key accounts and engage with them with tailored programs. In case your product belongs to an established category, you can still use ABM to target the top 15-20 accounts generating the most revenue for you.

SMB vs. Mid Market vs. Enterprise

If your target market is SMB, Inbound marketing rather than ABM might be a better fit for you. It is based on the assumption that the ROI from this market for ABM is lower.

If your target market is Mid-Market, ABM can be considered for high-revenue potential accounts while using Inbound as one of the primary channels.

If your target market is an Enterprise, you should definitely adopt a highly tailored ABM plan for each account in the target list. Converted accounts should be given equal focus to improve retention rates and advocacy.

You may experiment with ABM and then scale based on your results. However, the key to ABM is patience. It may take a significant amount of resources, both in terms of time and people, before you actually see the results (depending on your sales cycle). Therefore, it is worth gauging all metrics before beginning with ABM.

4 Steps to Streamline Your ABM Efforts

ABM is all about connecting with the right buyer at the right time with the right message. You can increase the efficiency of your ABM efforts by following a few steps. 

1. Gather your data sources for a complete view of account activity from the visitor's very first interaction. It will enable you to make decisions on account-level customizations.
2. Prepare a list of target accounts based on revenue potential and intent data.
3. Develop a concise engagement plan (content, ad communication) for all the accounts/segments. While planning, consider how advanced the account is in the buyer funnel.
4. Measure and analyze the impact of ABM on your KPIs and plan the next steps based on the results.

Conclusion

This brings us to the end of this article. It’s quite easy to get lost in the discussion of what ABM is, its various advantages, and its benefits. The key objective of ABM is to show that you empathize with your target audience's pain points and provide a solution that alleviates their pain. 

ABM analytics software such as Factors can help you identify various high-intent accounts visiting your website. It can also track their journey on the website and provide insights into how they engage with the content. Sales teams can use this information to tailor email campaigns, sales calls, and other efforts to target those accounts individually and improve engagement and conversions. 

Engage with high-profile accounts regularly as they progress through the buyer journey. Monitor your metrics and optimize your ABM efforts based on the revenue generated. Continuously engaging and putting effort into building meaningful relationships with your visitors and leads will make your ABM strategy more effective and efficient.

Webinars are a great way to communicate with business prospects. They empower you to demonstrate value to hundreds of people whilst sitting in the most remote parts of the world. They enable you to deliver memorable presentations from all across the globe without leaving your desk.

But how should you go about hosting a webinar that, in addition to adding value to your audience, converts them into paying customers?

Let’s go step-by-step and list the key stages of planning a successful webinar:

1. Topic and Audiences:

The very first step towards executing a successful webinar is to identify a topic — and the right target audience for it. Pick a topic that adds value to your target market and makes attendance worth their time. Perform extensive market research to truly understand the challenges and interests of your audience. Needless to say, you should only choose a topic you and your company are proficient in. In the case of Factors.ai, for example, this might be presentations related to marketing analytics, multi-touch attribution, etc.

2. Communication and Promotion Channels:

Once you’ve set your topic and identified your target audience, it’s important to make a concise communication plan for the same. This would involve shortlisting  channels to be activated for promotions, content buckets/themes, and a timeline of when you plan to engage the audiences. Here’s an example:
Channels: Social Media (FB, LinkedIn), Google Ads, Email, Slack Communities, etc
Content Theme: Brand of Speaker, Virtual Summit, Value proposition, etc
Timeline: Ads to be run from N-30 till the webinar date, Customized Email sequences to be sent to website subscribers on N-20, N-10, N-7 and so on.

Key metrics for measuring performance will depend on the type of channel. For instance, in the case of Social Media, link clicks and CTRs will be good metrics. For emails, metrics like open rates and click through rates may be better suited.

3. Pricing and Offers:

If you plan to monetize your webinar, a pricing model that changes based on the promotion channels may be employed (the reason being user intent).

For example, while promoting a business webinar, a user browsing Facebook (lower intent) may need more convincing than a user browsing LinkedIn (higher intent), given the latter is a business platform. This is where price fluctuation will  convert even low intent users into webinar registrants. You may look to promote the entry fee for the webinar on Facebook at 10-12$ while promoting the same on LinkedIn at 18-20$.

Another variation that may be added to the webinar are offers. If you have a product/service that would be promoted before/during the course of the webinar, create a custom offer just for webinar promotions. This way, you will also be able to better measure the performance of the webinar

For email sequences to already subscribed users, specific offers (based on their profiles and funnel stage) can be created to improve attendance and pipeline velocity.

4. Creatives and Targeting:

The quality of your creative copies and designs will make or break the performance of your online promotions. The best way to approach this is to create a custom copy and design for each set of audiences to increase viewer connect. If this proves to be resource-heavy, you could experiment with 2-3 creative variations to see what works best.

Always take note of these learnings and implement the best practices for future webinars. It’s generally best practice to highlight the webinar takeaways as well as details about date and venue.

5. Landing Page or Lead Generation Form?

It's now time to decide how and where a user will be able express interest for your webinar. There are two ways to go about this:

A) Lead Generation Ads

These simple in-line forms open instantly when an ad is clicked without taking users to a separate page. Users can fill in the required fields and move on.

‍Pros:
i) Quick and easy
ii) Does not require website development, making execution faster

‍Cons:
i) Very little content can be put into these forms to educate users about the webinar
ii) Website cookies will not be generated making re-marketing campaigns less effective
iii) Integration for payment getaways (in case of a paid webinar) will prove to be a difficult task

‍B) Landing Pages

Creating short and crisp landing pages with concise content is a great way to get users to register for the webinar.

‍Pros:
i) More content can be accommodated to tell a story and convince users
ii) Integration with payment gateways is seamless
iii) Re-marketing campaigns are simple to execute through cookies for users who have visited the page but are yet to register
‍Cons:
i) Resource-heavy since it involves website development thus increasing overall execution time and cost

So, depending on the resources and time available to you, either one can be chosen.

6. Practice Run and Hosting the Webinar

No matter how well you promote your webinar, if on the day things don’t go as planned, you may end up losing all your potential prospects.

Therefore, practise the entire webinar flow and everything you plan to cover on the day. Make sure your content is validated from other team members to ensure accuracy and relevance. Finally, ensure your webinar is interactive as you do not want to lose out on participants mid-way.

7. Reaching Out To Webinar Participants

Do you plan on reaching out to each participant after completion of the webinar to check whether they’ll be interested in your offerings?

While it’s not a bad idea to do this, a poor execution strategy could leave a bad impression on your brand. It always helps to be subtle and strategic.

‍Here’s how:

• Create a checkbox in the webinar registration form asking users whether they’ll be open to calls from the Sales team to know more about your offerings. This way, you’ll know who are the ones interested to know more beforehand.

• During the webinar, take up questions from participants to understand challenges they face in their business'. Use this moment to talk about the specific features that your product/service solves for these challenges and ask the participants to directly reach out to you via mail for documents like case-studies or feature specifications. The Sales team can then take the discussion forward and drive the funnel.

• After the webinar, share an event replay that can be consumed by participants who couldn’t attend the webinar and by those who would prefer to go through the content at their own pace for insights. Add a Call-To-Action here asking if they would open to be contacted by the Sales Team.

• When contacting participants, begin every conversation with takeaways of the webinar and how useful it has been for them rather than directly asking for a demo. This would help structure the conversation around the challenges faced by the participant and how your product/service could solve it.

• It is important to understand where a webinar participant is in the buying funnel. For example, if someone is simply exploring products/services, first understand their problems and use-cases, suggest ways they can solve them, and then proceed to the next stage of engagement. This would ensure you’re not too early or too late with your sales pitch.

8. Reporting and Analytics

Finally, how do you plan to measure the success of the webinar? Are you measuring the right metrics and tracking impact on the pipeline? This data is critical to understanding how much the webinar has resonated with the prospects and what needs to be tweaked to make future webinars a success.

Most teams would be measuring performance across different data silos such as Facebook Ads, Google Analytics and an MAP/CRM such as Hubspot/Salesforce.

Let’s a take real-life scenario to understand this better:

Jay, a marketing manager, has recently concluded an important webinar for his organization that develops SaaS products. He now wants to:

• Understand the impact of the efforts that were put in to set up and promote the webinar.
• Understand how the webinar participants progress through the buying funnel to focus future promotion efforts on channels that produce quality prospects

Jay’s team would be able to give a performance report on:

• Ad Platforms such as LinkedIn Ads in terms of which ads worked best, got the highest clicks, CTR and other metrics.
• Landing page visits and drop-offs across channels
• Hubspot contacts and Salesforce leads created from the webinar

While Jay will be able to gather insights on individual platforms for the webinar, more importantly, he will need a complete view into user journeys right from the first user visit all the way up to their status in the buying funnel.

This would help Jay make informed decisions for planning future webinar promotions better in order to acquire quality prospects.

At this point, Jay’s team were unable to find a way to stitch these data silos together to give Jay what he wanted.

What are Lead Magnets?

Lead Magnets are ‘gated’ content pieces that are created with the aim of providing useful information to users in exchange for their contact details (Email IDs/Mobile Nos). Content pieces such as newsletters, guides, white papers and other informational documents are used for this purpose.

The captured leads are then nurtured through customized email sequences in order to improve funnel progression and conversion rates.

Here’s a classic example of a lead magnet:

Let’s say you’re browsing a business website that provides sales intelligence to other companies. Just as you reach the middle of the page, you see a link to an insightful and informational guide. To access it, you click on the Call-To-Action button ‘Download Now’, which then triggers a popup asking for your email ID. Upon successfully entering the ID, you’d have access to the guide while the marketing team at the other end would add your ID to a mailing list for the purpose of nurturing.

Why Don’t We Give All Content For Free?

To answer this question, let’s analyze the pros and cons of not having any gated content on the website:

1. Pros:
   

- High Accessibility: With no form in place, users will be able to access content without filling any form, thus reducing drop-offs

- Helps with SEO: If you’re not gating content, it means it lies in its full form on the website. This helps improve SEO score through strategic keyword placement within the content.

- Better Content Tracking: Since the content is not gated, metrics such as session time duration, page time, bounce rate and so on can be calculated to gauge the effectiveness of the content

2. Cons:
   

- No Leads Acquired: The contact details of the user reading the content will not be known. Thus, the nurturing process cannot take place.

- Losing out to competitors: It is highly likely some other competitors will be using gated content with structured nurturing sequences and could end up winning a customer even though their content may not have had a similar impact.

Thus, while the accessibility and visibility of your brand increases with ungated content, you lose out on leads which other competitors may be able to capture. 

Mixed Gating Strategy - Intent Driven

A mixed gating strategy involves using both gated and ungated policies based on the type of content.

When your focus is on improving the top funnel such as website visits, content that indicates low intent can be ungated. For example, a document on ‘What is Marketing Analytics?’ would be considered low intent since the vast majority of the users would be in the exploration phase and not ready for a sales call yet . This helps in avoiding the generation of leads with low quality who are not in the buying process yet thus allowing Sales Reps. to focus on high quality leads.

When you’re focusing on generating high intent leads, gated content can be utilized. For example, a guide on ROI analysis . Since such content indicates high intent, you can expect the lead volume to be low and the quality to be high.

A good way to connect the two gating policies would be re-marketing campaigns. All users who have visited the ungated content can be re-targeted with promotions for high intent gated content. Leads generated from these campaigns can be then expected to have higher quality in terms of conversion rates.

Account Level Tracking - Isn’t It Sufficient?

Many businesses that have adopted account-based marketing would argue that a mere visit to the website on any of the content pages would be enough to create a user profile with details such as location, company of the user, etc via IP address identification tools. This would seem to solve the gated/ungated content conundrum.

However, there are two points to be considered here. One, most IP address tools are not 100% accurate leading to missing or sometimes even wrong data. Two, even if you have been able to correctly identify the user’s location and company, how would you go about contacting them? It could be a marketing specialist belonging to a large corporation with 10K+ employees or a software engineer of a mid-sized company. Either way, with no email address, there would be no way to determine who read your content.

Thus, account level tracking gives limited understanding of who is reading your content, but is not enough to get contact information that can be used for customized nurturing sequences. 

Finally, it’s important to focus on the content quality and the value it adds to the readers. There should be a strong enough reason for a user to submit their Email ID in exchange for the content. Good quality content will leave a lasting impression on the reader and aid towards brand recall.

As an organization, in any industry, it's important to understand the audience behavior on websites and what gets them to convert or drop-off. These insights help optimize website content and improve its overall effectiveness.

The D2C (Direct-to-Consumer) industry is no exception. With tens of thousands of visitors logging sessions each day, knowing what exactly they do on the website, what pages they visit and what influences them to convert is crucial. But how do you go about doing this?

Let’s dive into the kinds of analyses that can be performed to truly understand the user journey on a D2C website.

Page Funnels:

For this, let’s consider a common buying process seen on D2C websites:

1. Select the items to purchase
2. Visit ‘Cart’ to review items and proceed to ‘Checkout’
3. Complete payment on the ‘Checkout’ page
4. On successful payment, the order is placed
   

While this seems to be a fairly straightforward process, there is a lot that goes on behind it. Here are the questions that you need to ask:

• What pages do users visit before they reach the checkout page?
• How much time does it take for users to place their order after reaching the checkout page?
• What pages do users visit before they place their order?
• What pages accelerate the buying process?
• What pages do users visit based on the marketing campaign they came from?
  

The answers to these questions will help you understand the success and failure paths on your website. For example, you might see a huge percentage of users visiting the ‘Reviews’ section right before checkout indicating the need for validation. Hence you must highlight the ‘Reviews’ section clearly.

Another insight would be users from, let’s say, an Instagram campaign tend to follow a particular path before placing an order. This can then be used to tweak ad communication and landing pages for the campaign to improve CTRs and possibly conversion rates.

Measurement of Experiments:

Experiments are a key part of any marketing activity whether it’s changing website banners, re-positioning items, highlighting content, or simply changing colors.

However without a measurement framework, you will never know the true impact of an experiment. Performing such analyses is necessary to measure the outcome of an experiment.

Let’s say you have recently changed the home page banner and re-positioned a page link from the footer to the top. The questions that you should be asking here are:

• What has been the impact on the conversion funnel after changing the banner?
• Are users spending more time on the website after re-positioning the page link?
• Is the re-positioned page link playing a crucial role in the conversion funnel? And so on.
  

This will help you know what experiments should be scaled and the ones that should be halted.

User Attributes and Behaviors:

Understanding how different types of users behave on the website helps personalize content and optimize marketing campaigns.

For example, you observe that new website visitors from Mumbai tend to spend more time on one of your blog pages than any other. Or, visitors who use an iPhone have a 30% higher funnel entry rate than other visitors using other devices. As an actionable, you would promote the blog in campaigns running in Mumbai and increase bids/budgets when a user using an iPhone is searching for your product.

Similarly, uncovering other such insights can go a long way towards amplifying your marketing ROI.

Multi-Touch Attribution:

Knowing how different marketing touchpoints play a role in a user journey is crucial especially when it's time to scale marketing campaigns.

The questions that you should ask here are:

• How do I know if my Facebook/YouTube/Google campaigns are working?
• How do different keywords affect the conversion funnel?
• Is everything being attributed to ‘Brand’ campaigns? If yes, how do I know the influence of other campaigns?
• What would the scenario look like if I were to change the attribution model (for example from last touch to linear touch)
  

The answers to these questions will help you understand the impact of marketing touchpoints and their cost effectiveness.

Asking yourself the right questions and being equipped with the right tools will help you uncover hidden insights with the data you always had.
Factors.AI helps you get critical insights into marketing activities and decoding customer behaviors.