We are very familiar with the dilemma most marketers face: higher expectations and fewer resources.
This pressure can be felt even higher if you are already laced with a thinner gear.
Also, there is a lot of rhetoric around marketing strategies and buzzwords that seem complex and difficult to implement and only make the water murkier.
One of those buzzwords we’re here to demystify is ABM, and especially the myth that it takes great equipment and a lot of time to climb. The truth is, having a smaller team can be your secret weapon to successfully implementing ABM.
Here, we’re going to explore how your small team can reap the ABM benefits that larger teams have been implementing for years.
Now that you’re in the mindset, we can get started. The simplest way to approach ABM is to think of three easy steps. Let’s dive into them in more detail now.
Identify your best accounts and associated purchasing committees based on adequacy, intent, and engagement signals.
We get it, one of the smaller ABM teams conducted in the past was the ability to analyze data and understand their true ideal customer profile (ICP). For more traditional approaches to generate demand or input, this is usually left to an individual.
Instead of using your “best guess”, you should rely on your CRM data or website traffic to analyze the characteristics of your best customers in the past. This is where ABM technology comes in to help you quickly distill information, rather than relying on manual spreadsheets.
Develop Your Target Account List
Once you have this concept of your best ‘fit’, you can start building your Target Account List (TAL) filled with companies that are close to your developed ICP. Again, this is where you’ll want to take advantage of pre-existing databases with thousands of companies listed to complete your list.
If you want to focus even more on your marketing budget, you can start dividing your new TAL into tiers based on how valuable it may be to your business. There is a possibility that some accounts are a better fit while others are more flexible. From there, you can work through a list of accounts from highest to lowest configuration to help you decide where to invest more time and money.
Change the key metrics used to show impact, slowly moving from lead-based metrics to account-based metrics with multi-touch attribution.
First of all, you will want to look at the campaign matrix to make small adjustments or optimizations. It will look like CTR, CPM, CPA, CTOR, etc. You can start prioritizing spending on some high-value accounts, and dig up engagement at the account level.
Here are some other key metrics that you’ll want to focus your attention on to show the impact of demand:
Value Over Volume
What you’ll want to delve into is a potential change in demand volume that moves more toward value on demand. This is a very typical shift when moving towards a more fit, engaged and purposeful audience.
But with this value higher than the high volume, you will start to see a faster conversion through the meeting funnel to revenue thanks to being more selective with your audience. You can also measure this.
