Account-based marketing (ABM) is taking a targeted effort toward marketing and personalizing experiences for target customers. At first glance, ABM is a great strategy. The concept is simple, clear, and easy to understand. However, it is more difficult to implement than it may seem.
Your company knows your product and has a vision for how it can add value to your prospects. But to sell to your prospects you must provide them with some value data and help match them to the offering you have. They need to know why your product is exactly what they need for success.
In the recent Account-Based Engagement Summit presented by ChatFunnels, Mark Maughan– Chief Analytics Officer at Domo– presented a way to implement your ABM strategy more successfully by using data in organized and strategic way. Victoria Loveless (Sr. Manager, ABM) also walked through dashboards and data tools built at Domo that are used every day to manage their ABM efforts.
Using Information Strategically
Today we have access to an incredible amount of intent data, and we can leverage that data to strengthen our ABM efforts. The problem is when you give the intent data to a team that doesn’t know how to handle it the right way. Using this information in the wrong way can lead to “stalking” rather than converting. How can we avoid this? And how can we use the information in the right way?
Maughan offered this suggestion: Provide visibility. One way to make this possible is by using dashboards and data tools.
There are 3 primary groups that are being served with dashboards and tools at Domo: Sales Reps, Sales Leaders, and Marketing Leaders.
It’s important to hit each group with what they need:
- Sales Reps account intel (information about which accounts to reach out to and what kind of campaigns might work for that account)
- Sales Leaders are responsible for providing visibility to hold reps accountable
- Marketing leaders show performance and ways to optimize ongoing ABM efforts
When doing these things right, you will see success.
Domo Dashboard and Data Tools
During their presentation, Loveless provided a walkthrough of the dashboards and tools built by and used at Domo. These tools help them to navigate their ABM strategy. It has simplified the way that they run their program and allows metrics to be available for leaders in real time. Its very organized, easy to use, and provides clear data.
Something valued at Domo is constant engagement with leadership teams. It’s important to keep everyone up to date on company information. Working together as a team is the only way to successfully execute your ABM strategy. The tools used at Domo keep everyone on the same platform allowing for consistency and easy use for each team in the company.
An ABM performance overview is used to keep everyone accountable for how well they are implementing the strategy. The overview contains graphs showing pre-launch and post-launch of ABM as well as success rates and how well it’s doing.
At the end of the day, intent data and good intentions simply aren’t enough to maintain an effective ABM strategy. You cant just stalk your prospects. You must find add value, actively manage sales, and optimize marketing efforts by leveraging specified data for each group. A great place to start is by using tools that Domo has created and proven capable of assisting in success.