B2B Revenue Acceleration
B2B Revenue Acceleration

Episode · 3 years ago

36: The B2B Marketing ABM Competency Model w/ Joel Harrison

ABOUT THIS EPISODE

ABM continues to attract attention globally. What began as a B2B marketing phenomenon in the US, has penetrated European markets.

If you google “account-based marketing,” you’ll find just over half a billion results. Breathe easy. We brought in an expert, Joel Harrison, Editor-in-Chief at B2B Marketing.

B2B Marketing is an organization dedicated to serving B2B marketing professionals. As they continue to research the state of ABM around the globe, they’ve developed the ABM Competency Model. Joel broke down the entire model for us on B2B Revenue Acceleration.

And, he did it in sales terminology.

You're listening to B Tob Revenue Acceleration, a podcast dedicated helping software executives stay on the cutting edge of sales and marketing in their industry. Let's get into the show. Hi, welcome to be to be a revenue acceleration. My name is Ornim with you and I'm the are today with Jorda Harrison, editor in chief. I'd be to be marketing. How are you today, John? I'm really good, really good, delights to be here. Thank you. So today we will be talking about the bit to be marketing ABM competency model. Okay, so that's an interesting topic. I'm really looking forward to to we are more about that, but before we go into detail, can you please introduce yourself to our audience and tell us more about your role and also what be to be marketing is. So I'm editor in chief, which is a very grandiose title, but I'm, I guess, responsible for all the content at the top level that my organization presents. And what we do is we're an information portal, information provider for all be to be marketers on. Our objective is to help me to be marketers be more successful, the more effective and help their organizations in tern be successful, and we do that through a variety of different channels. We run the conferences, we do training, we produce sort of content, we have a magazine, we do webinars, all kinds of and we have an advisory offering around ABM in particular to help people get started with it. So our aim is to be the kind of central touch form for B tob marketers and to help them on their journey and to be more successful and better markets in the future. That's one was interesting. So, Jupe of other last few years you've developed a long study to under Sun out ABM has been deployed in Bob Organizations. Based on this research, you've built which you call the ABM competency model. Can you please share his audience? I would. This study was conducted our many companies got involved in using the model and assisting where they were with their ABM journey. So yeah, so this this greatly came about three or four years ago. ...

We noticed the real massive increase in interest in account base marketing. We wants to kind of understand it and document it because it's it was definitely certainly on this side of the Atlantic, things a bit more of Vanced in the US at the kind of beginning of the journey with ABM. So it was a great time to kind of to help track its development and help understand it and and help and help that journey, help that evolution and acceleration along the journey. So what we've do? What we've done is we've over a couple of year as that we are now. We're starting to do our third one now for we should be launched later in the year. We've done a census of our audience and we have about Ninetyzero B to be markets in our in our audience. I'm looking at their use of ABM and how and how it's developing and how sophisticated it is. And I think what we've shown is that initially, at least, you know, a couple of years ago, it was a relatively low level. People were really only getting to grips with ABM. They there was a lot of lack of understanding or misunderstanding about what it actually was. who were starting to see that develop and they're the framework, or the model rather, is designed to really encapture all of those learnings and and now people to see both where they are in the journey and what they've where they've come from as compared to other people, but also to help people see where they might be going in the challenges they're going to be facing in the future. So it kind of does two things. All as you to benchmark yourself against the kind of the average be to be market or the average beating be marketing firm, and then allows you to see where you might be going in the challenges you're going to face and then give you a kind of help you start frame up how you're going to address those challenges. Okay, and if you have a mix of B to be marketers from each side of the Atlantic, or was the focus of the study very much on the UK s lush European marketers? It was weighted towards the decided Atlantic, definitely, and and then that turn weighted to the UK. It's about seventy five percent over this side. And so, and I think so it's reflective of what of where IBM is over here right now. Abium looks a bit different in the states. I think it's more technologically driven, whereas the kind of a lot of the weight of interest over here is more around the kind of the strategic the one to one type of Aba. Absolutely, and I think it's probably...

...due to the the nature of the territory and the volume of facunds and the volume of contact that we can go after. But we do feel the same when we angage with our clients and we speak about I can't beg it seems that the Europe and models tend to be a little bit more they lodge. You know, you men May in a way, where in the US is try to scale US through technology. is so yet that that that's something. Well, I mean he always and let's that's a really good point. Actually, around the year size of the market, I mean we the other factor I think that's playing into that is that the technology vendors are fantastic at marketing, and I'm sure you can recognize that scenario at all solutely. Absolutely don't know what you're taking about. Or they were people like demand base people, I can gage you are people at terminus are doing a fantastic job in the US and have been doing it there for longer, to evangelize around why people use to should use their technology and as a kind of a starting point in a PM, whereas, and I don't know if you've see this, but over here. Often the kind of programmatic aspect of it tends to come in when people have got their heads around the strategic side of things and looking to kind of approach whatevery, and I think it's also the question of the daytime. Mean we've seen, I don't want to mention any vendors, but we're walking with lots of vendors worked really originally from the US and what they would ever see a more base in the US and it's here a team in Europe trying to replicate the success or trying to replicate the strategy of the US market, and we often see vendors using solution and not on the Sunning way do. Solutions are not as performance as die in the US markets, and I think there is few things behind that that are privacy being one of them. I think there is far less data, and even if you use the discover that org and the ranking and the zoom, we seems to be the some company now anyway, but the depth of data, the depth of intelligence is not as rich as in the US. It's also the consumption of people. I think you've got because you've got less the volumes are not as great and because it's part I get here. The think you need to need to sharpen your pencil and and and Findal STRATEGICTI is probably little bit more direx sometimes and...

...going on gage with them with a Morti Lot approach, as I'm just waiting for technology to tell you who's got an interest in your solution. And particularly, I think, when you are maybe, believe I guess, when you are targetting and you want to start your Ibam approach with really executive touches, really it to ches. It's not the gay that will be doneloading content and reading your white papers and all that sort of great stuff. Sometimes good to find us a way to get in front of them and to be pertinent in their context, and that does take quite a strong cells and marketing coalitions, as well as lots of efforts and sinking process. But coming back to your study and the ABM competency model, in the map you build you outline five elements of delivery in an account bas approach. Can you please share with us what dose five elements are and also briefly explain why they are so important? Okay, well, thank you. Thank you. And Yeah, we wanted to try and to demonstrate the key things, the key areas which are what you contribute towards a successful account base marketing program and so, just to run through those from the top level, that the five that we've selected, and there are lots, by the way, but these are the ones which we, having spoken to another market and and have you be helping the companies doing avm ourselves. These are the ones which we think are the most the PROTC most important to focus on, and they also have got up to a certain extent as well. So these are alignment, account definition, data and insight technology and then lastly, program and content execution. So to go back to the top with those, the alignment one is is around is specifically, as you'd expect, around sales a marketing alignment, which is obviously a hot topic in BTB and always has been an unfortunately, possibly always will be. But it's also, yeah, I think we can all, we can all share that pain, Acou't we? And then, but also it's there's an element of alignment with other people, like the cease, with CEO and the CEA sweet making sure everybody understands what at all actually means and how what success is going to look like. And you know, and the alignment. The kind...

...of nature of the alignment challenge changes over time. I guess we'll look at the different stages in a moment. So that's the alignment piece, and then they kept the next ones account definition, and this is the this is actually understanding what an ideal account would look like and looking at the size and type and type and number of different accounts. You're going to work one, work on targeting. So I guess this probably pertains to strategy to a certain extent as well. You know, are you going to be strategic one to one? Are you going to going to be like is one too few, or going to be programmed so many, so so? Again, this can change and this is probably will change as you go, as you're more competent and more comfortable with this. The third one is data and insight, and again this is around the pulling of information which both the sales and marketing teams have and continue to accrue, and how to and kind of creating means of which to keep big, diving deeper into those insights, mapping them, understanding of the gaps are cleaning them up, sharing them, making them available, creating this kind of virtuous circle of or feedback and content of feedback and incited to allow the program to get more and more sophisticated. The fourth on is technology, and we all know about marketing technology. We've mentioned it just now, and the UN role. If you're starting out with ABM at strategic level, you probably don't need any specific marketing technology or as the ABM technology, you probably can just be using what you might be using for demand generation, crum crm and marketing automation of possibly social tools. But as you become more sophisticated to start and particular if you start doing going down the programmatic group, you'll probably start to align more and more on technology. And then the last piece is the program is the program and content execution. So this is around all the activities, all the content you're producing, the white papers and microcides, the direct mail, all of those things which actually are going out to the audience prove performing, the the outreach in the and the the actual kind of engagement marketing which people going know and will respond to and which you'll drive and trust, and all the sales and able sales support activities as well. So so those are those are which we think of the five elements. Ray What do you think about those? Are there any that you think I've missed or...

...any or any comments about how we structure someone? I think, I think, I think it's a it's a nice it's a it's a good way to describe the journey is that it's, you know, it's under faith Geer lements. I think make question is more around and it's a bit of a leading question because I may have an idea about when the answer is from my perspective. But which one of those five elements do you believe is the most challenging for the average be to be marketer? Well, I think they get they become more challenging at different times, you know, and I don't think so. I'm going to if you had to talk about all the across the journey, I'm probably going to say data and insight, because this is always been a challenge for be to be marketers. Beating marketing is never been as data or insight savvy as it should be. But you know, you can't get at it. But then the technology piece becomes more challenging as you go on. Program constant execution part is probably what marks has already been doing. The just dope you doing it better. And the top too. Well, the alignment piece and definition piece out of kind of foundations. If you haven't got that, you're never going to get anywhere, or at least now you're very far. So it would you most challenging. I think you alignment is if we feel, we feel at our clients, partners and prospects, people we speaking to win the market in general. I've a little bit of an issue with your alignment and I think it's about sometimes it's the alignment not just with the cells team. Is Your alignment with your board, is the alignment with your management? I would do you get people to know, to understand, in a in a business, that you've got to change the way you you measure yourself as a sable or as a bit, as a bit to be market or in general. Okay, if we don't account by the approach, but let's not talk about marketing, qualified Lise, let's not talk about meetings, let's not talk about the way we used to evaluate our self or evaluate marketing, but let's try to find new KPIS. I think we've seen a few be to be marketers finding it difficult to change the mentality in time of how they will measure and how the success would be measured. And then it's about getting the you can get the buy and I think cell steam get it.

I think channel team would get it as well, depending on the model you've got. But it's about getting that glue between what we want to do from a theoretical perspective and then keeping the consistency going. So I think people would be telling us that all be to be marketers will be telling us that they don't really have an issue in running the cell cell steam around them and even sometimes our management around them for part of three to six months. But if there is no real achievement done within straight to six months, which is tough because we're talking about business closed there right. I would say that to average clients will have an average deal value. If I was take all our clients, I think my gut feel would be to say around ninety two hundred and twenty eight dollars. We don't close that sort of deals in a couple of weeks. You know, it takes you times to go and create the Demi and the more destructive you are as a solution or as a product, the more difficulty is to close the deal. So it's about having enough thing to prove themselves and to prove the viability the Pertin ends of the Avm, as well as kind of sometime changing the way marketing is measure of it's like being the Messaiah. You know you've got to come up, and so we're going to do something new. But I've got the bad news. It went up and of our nights easy as that's the tough when I think absolutely agree, and I think it's always, I mean it's for any other issue. You know, marketings align with the rest of the business, particularly sales. You know, this is it's almost it's almost a Cliche, and we continue to hope it will get better. You know, we hoped it would get better with marketing automation and it and in some ways it did, because it created a new kind of environment and a new language people to talk, but also quoting new kinds of conflict. You know, it kind of these often the kind of language and the metrics that were using creative opportunities to conflict, whereas to do Aybim properly really has to be harmonious and, as you say, it's a very different way. It doesn't happen quickly and bad burgess is one of the leading lights and a them. I think she you know, she had and great analogy. You know that a new exactly touched that just then. If you tell you know, you might the say you're able to, can you want to do abm? You convinced to see the CEO that...

...were you're going to do it and it's going to be very effective, and then they're going to they think that it's that it's going to make a change over night and and it doesn't do that. You know, it does take. It takes time, commitment, perseverance, all of those unfortunate things which which we all assume, things that scres outs quickly. No one wants to know what to sell you a message that it's going to say I seen months because now I'm really but we've seen. You know, we've seen, we've seen. We take another analogy because we've seen companies, and particularly a larger one, they've got what I would call a Ferrarey of the account based marketing. So they've got, they've got, they've got it all figured out in time of do I want to go one too few, one two, one, one too many. Actually, are going to take this free approach because you know, for the most strategic people, I will go for the one to one, the one in the middle, I will go for the one too few, the one at the bottom that I still need to influence. I will take the one too many. And they create all those beautiful content and journeys and quite frankly, this is a fer area of and I can't bea the approach to all the beauty, for everything is beautiful. The prime they've got that they've got no patrol, they've got no guests to put in the car, and that's that's the that an insight. And then there is no drivers or there is no one, which is said, well, actually, you know what, I'm gonna take the driving seats and will take your driving and we do feel in what we do at operatics having no part of what we do is being what I would call a business development function and internal cells function. We believe that that part is actually very critical, because this is that. But that will get you use first engagement, but then you've got the cell steam being involved, when the cells team being involved, need to push us from the driving seat, take the driving seat for one hour two our worlds when they meet with the prospect then come back to US and marketing. We sit around the car and we say, okay, this is what happened at the meeting, what this is what we need to drive now, and then you need to find another driver to get into the cars. That's the end reade that we take. You've got that fantastic car, the bitch really in the war, but you still need a driver and it's it's a lot of factor that gets involved. And if the car is convertive, what you need to need to have some sound out there as well. So...

...it's it's you. I guess you know what I mean. With the energy, the US are fair. I'm really keen to all about because, as the that's the other one where we've got to sue analogy. On top of the five elements of delivery, you also divide the model in faith stages. Yeah, in the ABM Journey. So could you, could you please take us through loose five pages and and again, you know, explained a little bit, you know, about which every single one of them is. Yeah, and that's thank you. And you know these five stages are to they stay. Hopefully they reasonably. The pretty straightforward you with the first one is they go from stage one, understanding, stage two, preparing stays three, delivering, stage for upscaling, stage by perfecting. And these are relatively arbitrue, right, you know, they could and they're not. They're not necessarily defined. People could define the slightly differently, but we define them. Really is around the understanding piece, is really trying to really kind of scoping opportunities for account Bost Marketing, understanding what it means for you, probably auditing what it is that you do already, because so much about account based marketing, again, to quote their Burgess, is just good marketing. And so people will be doing it. They should have been doing it always, Malcolm, Malcolm was Donald, professor, Michael dnswers. It's just doing what marketing should always have been doing. And some of that is naturally doing it anyway, but it's often in kind of things. I think I call it accidental ABM, but it's not necessarily planned out. So understanding what's happening already and what and what whether these pockets of best practice exist. And the next phase is preparing, so creating an ABM team, getting stakeholders on board, running a pilot you know, setting some sales and marketing objectives, and that's the state. So that's that's kind of just getting getting beyond the inurse or actually getting something moving. Delivering is actually having this stage three, having a collaborative relationship, delivering on some objectives. It's probably to your point just now, is probably not around revenue because you know you make a very, very good point. So much should be to be revenues are kind of eighteen months. You know, can be six to eighteen months in terms of there even longer in...

...some situation. So it's probably around more around the engagements and the kind of pipeline generation and all those kind of things, or opportunity creation or whatever. And then stage four is upscaling. So you've proven the model, probably, bearing in mind our audience is perspective. You've probably proven it in it in a strategic abm capacity, and so you're looking to move to you may even gone to a kind of a want of few. So you look at to go to one, to one too many, and so this stage you're looking to get greater budgets, more resources and there's lots of internal champions. So you've really proven this is as a major plank of your marketing and sales delivery and the last day about sage five, is about affecting what you've got. So and so it's total collaboration understood across the organization. You're probably using some of the most sophisticated technology and you're a very much of the bleeding edge, and it's worth saying there are a very few people at that state. There are some people there, but there are very few, at least in the UK, around that. So but I don't think it's impossible to get there and far from it. But it requires, as a said, consistency, persistence and buying. Absolutely agree with you. I'll get thanks for that, joid. I mean, I really appreciate your claim and all I didn't say that you've been you've been sharing with us today. Now, if anyone would like to engage with you, carry on the conversation but aentually come back to some of the points we discuss with you and going to a little bit more details. What is the best way to discuss with you on gage, with you, get your attention and start a conversation with you? Well, you can, you can. I'd love to love to get any feedback, any comments and suggestions around this and you know you can. Hope we can. You can download them this framework for free. I have a look at that. It's also a kind of a light version of the census report we did with some some kind of top line findings, which is which is available as well. I hope we can make it avail of all around this podcast, but that we fantastic. We'd really appreciate that. You can tweet me at Joel underschool be to be editor. That's not to be. There's another Joel Harris and on twitter who's a whiskey connissear. I'm not him, by the way. I don't particularly like whiskey. I'm more of a beer person, so don't get me confused with him. I'm the Joe of his. It's...

...a I got friends. I got send some whiskey for him, by the way, once, which is quite nice, to gated to remember the team. I never to be aged to work out why I got it's take and, yeah, yeah, we've bet if it was beer and or you can get on Linkedin. You can do me quite easily there. or email me Joel Dot Harrison at be to be marketing DOTNET. Joeld or Harrison a be to be marketing dotnet. But that's wonderful. Many thanks again, Joel, and yeah, it was great to have you on the show today. Thank you very much, really interesting conversation. Thanks for having on. operatics has redefined the meaning of revenue generation for technology companies worldwide. While the traditional concepts of building and managing inside sales teams inhouse has existed for many years, companies are struggling with a lack of focus, agility and scale required in today's fast and complex world of enterprise technology sales. See How operatics can help your company accelerate pipeline at operatics dotnet. You've been listening to be to be revenue acceleration. To ensure that you never miss an episode, subscribe to the show in your favorite podcast player. Thank you so much for listening. Until next time.

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