B2B Revenue Acceleration
B2B Revenue Acceleration

Episode · 1 year ago

73: Shifting from ABM to ABX (Account-Based Everything)

ABOUT THIS EPISODE

It’s not just marketing that is embracing an account-based approach. It’s everything.

ABX (account-based everything) will soon cease to be a buzzword because it’s just become the norm.

In this episode, we interview Emma Acton, Vice President Global Field Marketing at TIBCO, about implementing an ABX approach.

We talked about what ABX means, the 3 elements of an ABX approach, how to measure ABX, and how the goal of ABX is keeping a customer focus.

 

To hear this interview and many more like it, subscribe to The B2B Revenue Acceleration Podcast on Apple Podcasts, on Spotify, or on our website.

You're listening to be to B RevenueAcceleration, a podcast, dedicated elping software executives stay on thecutting edge of sales and marketing in their industry. Let's get into the show, welcome to the BTB revenue,acceleration podcast, my name's Dan Seabrook, and I'm here today with EmmaActon Vice President of global field, marking Activ Co. How are you todayEmma Hi Dan? I'm very well. Thank you. How are you yeah? I'm very good! Thankyou, as O, as of the recording, as we are just discussing taking necessaryprecautions around corona virus, but all good min. Thank you very much soEmma so as as we've been discussing today will be talking about shiftingfrom account based marketing to an account based everything model. Butbefore we get into the conversation, it would be great if you could, pleaseintroduce yourself to audience and also tell us more about your company,typical yeah, absolutely I' love to Wel. Firstoff, thank you for for having men inviting me to this. As you mentioned,I'm Emma and I'm responsible for the global field, marketing, Herec, Typica,tipcos and organization. We are a global software company and we reallyhelp our customers to unlock the potential of the data within theirorganization. We talk about data being the new oil nowadays, it's really aboutdata being the energy and it just enables our customers to make fasterdecisions, and I think it probably falls under three areas here: it'sorganizations who are looking to transform their customer relations andincrease customer intimacy. So we help organizations there make sure thattheir customers are really the center of thersor of business strategy. Itcould be that they are looking to achieve operation or excellent orimprove their operations and really to optimize execution where they canwithin their business, and they could be looking reall or Bein the thrias AFbusiness reinvention and need to sort of realize the the value potential ofthe DAYTO and intelligence that they've got within their organization. Sothat's what tidgo helps our customers do and we do that through Ourtidco,connected intelligence, cloud platform, okay, excellent sounds interesting and a lot of different, I guess value pointor use cases fo your customers, so it's from a Marketin rspective it. I assumethat that prets, quite a broad number of tactics, you've got to apply inorder to actually sort of get across the different value point of yoursolution. Yeah, absolutely yeah. We have to think about this from a usecaseperspective. If you mentioned, how would an organization use the TYP COproducts? What are the things they're looking to do at other challenges,they're looking to overcome it could be related to an industry. It could berelated to a very specific use point or use case. So yes, as a marketing team,we need to think about all of those. We need to think about the differentpeople within those customers and prospects that we need to talk to, andwe need to make sure that our messaging and how we're marketing reallyresonates with them so that we're driving as much demand and pipe linefor the business to follow up on absolutely make sense. So recently I anas you well know, a Cambase marting has been a strong totic in in the lot offew years and from the conversation We'epreviously been having you mentioned that Typica had been trying to shiftfrom an account based marketing methodology to an accamp basteeverything meththology, where marting taking the lead, but but you're tryingto get involvement and interaction from other parts of the business. Could yougive us a feel for what that concept looks like and what that that shiftlooks like active co today, sure absolutely so. One of the things we'veseen in recent years is really the prevalence of account based marketingand you're, seeing it as a bozs word everywhere. You know all of the emailsor Webeniles or promotions that we see every day ar you know account basemarketing. This account base marketing that, and I think first of it's reallyunderstanding. What does that mean? You...

...know in the past we probably done alittle bit of account based targeting and we've. You know, looked at thenamed accountlist with our sales counterparts and we've said yest. Wewant to be going after these people and inviting them to this or impr havingthem participate in that activity. But I think it goes beyond that now and Ithink we have to think about not just what marketing is doing and and how wemarket ot an account based level and really what we want to achieve fromthat. But how do we work with the rest of the organization and I'll talk aboutsome of the teams that we work with Heric Tipico that are involved in ouraccount based everything or O R abxt strategy? But it's really aboutensuring that everyone that is working with our customers and our prospects isreally driving to deliver value to them along that customer journey and that wearen't operating in Stilos and something probably organizations and tip co, Ha has probably been a littleguilty of in the past is operating as a siler, with marketing doing their thingand sales doing their thing and presales or customer success doingtheir thing and really the the ABX. The AB everything approach that tip co islookinto. Expand upon is really about all of the customer facingorganizations having a set of roles and responsibilities that are ofteninterconnected, but ae ultimately driving to deliver a great journey anddeliver great customer excellent to our customers and prospects, so from amarketing perspective will be looking to market in a certain way to a Setiftaccount for sales. It's really about them understanding. What are thoseactivities for marketing? How can we deliver the intelligence that we'reseeing in those accounts back to sales, to action? It could be around rourvalue engineering team who are working with customers to really realize thevalue that they lead to within and release that value within theorganization. It could be that the presales team it could be on partnersand working with our partner team both internally and then are externalpartners that we work with, but it's making sure that all of the differentinteraction points that we will have with the customer flow and almostseemless for that customer, so that we aren't operating in those silos and itinvolves a number of teams in Tipcas Li E. I said: Sales Presales ProfessionalServices, the partner team, our custom, success, team marketing, obviously, andwe're true, really trying to drive that from a markting perspective and makesure all those teams are talking working together, and you knowrealizing the potential ofa sort of creatit once and then be able to use itacross all of those teams, so that it is seamless for that customer that makesense, and naturally that must be pretty complex depending on the side ofyour organization, of course, but in order to really get everybody puttingin the right direction and sing off the same hymsheet so speak, I it must becomplex in order to actually put that together from your perspective, beinterested to understand if you think that ABM or now abx as we're talking about,is a campaign or a program or actually much broader stratture across acrossthe business. Because from my perspective as as you're talking there,it sounds like that has to be a real business strategy rather than anindividual campaign or program. How do you look at it at Tipico? It is astrategy yeah you hit the Nol on the head there. It really is about. You know, understanding the differentpieces that come under an abx. So what is the account based marketing? What isthe account based sales approach? What is the account based value approach?What is the account based partner reproach? What does he account thiscustom excess and all those teams? Really? What are the pieces that andthe touchpoints that they have with customers? And this can be down to you-know a process. It could be down to a...

...piece of content that delivered. Itcould be a workshop, an and those fit into all of those different teams, butit's really about creating this strategy and framework so that we'reall clear on our roles and responsibilities that we are maximizingour input really into the customers, hat they're getting the most out ofTibco, so it isn't just a single campaign that is sit within the ABM,the account based marketing side of things, but the actual abx is a wholestrategy that we're looking to adopt across the business. Okay, interestingand in terms of you just talked on their ABM being, it could be anindividual Campai if you look at ABM as as an individual campaign or program oreven if I'm straty, what are some of the elements have actually make up anABM approach at Typco sure. So we, if you look at a lot of these models,Thatha they look like a triangle. So at the top we've got what we call our oneto one approach, and this is really where we are marketing to a number ofidentified account and we are doing a very personalized approach. It could bethings like a personized landing page. It could be specific content that weprovide to that customers, part of the sales cycle. It could be an innovationday that we do at the actual customer. It could be some very dedicated digitalcampaigns and activities. So there's a whole raft of different tactics that wewould create and flow through as part of that one to one piece and typicallyyou know it's, it's a higher cost to do that and it'smore effort from e the team. But ultimately, it does pay back in termsof the sort of pipe line in those accounts. The Middle Part of thetriangle is our want o few, and this is where we may identify a set UF accountin a given industry or for a given use case. It could be something thatrelates to customer intimacy and could relate in the travel and transportationindustry, for example, or in financial services. So we may identify a set oftwenty accounts in a given region and do some specific tactics again. Wecould host them physical events, we mag might have a Webernaur. We mightproduce some content that is specific to that use case or to that industry.It could be that we go to an industry, eventor or thought LeadershipConference and how they'r speaking sort an maybe work with an existing customer.Who has that use case or is an advocate for the TYPCO in that that particularindustry and then the final piece and the sort of faterpiece at the bottom?There is ar one to many and that's much more. What I think of is thetraditional account based marketing or the programatic piece that is reallyrealized: the RU technology, a lot of digital channels, a lot more digitaladvertising. We can still target a set UF accounts, but it's a much broaderset so we'll be using elebrity technology to reach a hundred or athousand different accounts, for example, with some programaticadvertising, some Grie targeting and other digital channels, and it's lessabout the physical or you know that one to one or that one to few interaction,it's more about, so the digital always on peace, yeah interesting. So when welook at those different segments that you're marketing to and he differentlevel of intimacy, if you like that, you have with each of the differentcustomers in those different segments. Naturally, different tactics aredeployed and, and naturally, of course beyond that, there will be differentways of understanding the value that you'regetting out of your of your markets and efforts and then being able totranslate that back to your to to your management and the superiors and thenanyone else within the business from a mark inspective. What are some of thebekimetrics or or success criteria that you look at inorder to justify this spend on ABM as an approach and and then actuallytranslate that back to your team? In...

...turn sure, and I think we can look atthat from a number of ways and it's the way it flows through the funel. So wewill decide, along with what we call the virtual team, so the virtual teamis typically the account executives. That's looking after that, it could bea subject matter, expert on one of our you know, industries or a particularusecase we're involving you know: Field Marketing were involving our digitalmarketing team, so we'll work with that virtual team to decide what are thetactics either at a one to one or one, to few or even Yo, the one to many thatmake the most sense for a given account or set of accounts and then based onKpis that we've used in the past. For those tactics, we can take those andsay right. We would be looking to achieve this and it could be conversionratios, for example, from the very top of the funnel, where we have engagedleads through to where we have opportunities in the accountbasedmarketing campaigns that we're doing it could be things like web visit. Itcould be the number of ads that are seen by a particular account and thenumber of impressions that have been dished up to an account through anonline or digital campaign, so there's a number of different tacttit and thenthe KPIS associated with them and we're very lucky at tip co and we drink ourown champagne. We are able to track all of that day to an those inputs so thatwe can report out on it and we use our own analytics tool. So I have thesebrilliant dashboards and I can pull up at any given day. You know thedifferent results that we're seeing from those different tactics, and I cansay right: We've managed to increase with these campaigns our conversionratio from top of funnel to opportunity by the we have managed to add x hundredof thousands of dollars in pipeline, and then you know hopefully intoclosedone revenue in these accounts. So a lot of it ties back to the preagreed KPISthat marketing has with the rest of the TIPICO business, but we might put on acouple of extra pieces where it comes to account penetration or specific to aone to one or one to few account. What we've actually seen from thatperspective is that account based marketing does deliver higher pipelineD and Revenue and typically higher conversions than we see in our standardcampaigns and that's not to say standard campaigns, O pormingperforming poorleage. It's just that we're seeing better rates and betterconversions from the really dedicated account based activity that we're doing,okay and being, as you just mentioned, everything the nature of your businessbeing a data business and that an analytical type of business that, interms of the proposition you're you're selling, naturally assume that thatalso comes back to how you actually work as a business. I believe you'dprobably be a very data driven business in your opinion. With that mind, shouldevery part of ABM or abx campaigns and strategis should every part bemeasurable, or do you think there's also an element within a marketing Mexthat Youre utilizing that actually isn't doesn't always have to bemeasurable, and it may just be for the for brand awareness, for example, itcould be that you've got some sort of advert at hetre or something like thatright. But, from your perspective, is every part ofABM, an Abx, measurable, or is there a room for a sort of experimentation aswell within that program? And it's a good question and I think it it's downto the individual organization and it's down to how marketing is typicallymeasured. I think if there is a level of flexibility that you know certainamount, don't need to necessarily have a specific number or percentage or KPIapplied to them. Then then you can have a bit more a balance model. I thinkthere is definitely a case where you...

...are spending dollars that you need tobe able to show a return. You know to the executive team to the board, towhoever your stakeholders are for the activities that you're doing, but thereis an element and with other pieces of marketing wherl, you can't necessarilysay well, it's increased expercental we've gone from here to hear and it twohundred percent increase or we've added four hundred, you know hundred thousand dollar to the pipeline.Within this particular campaign, there are other metrics that are notnecessarily really drilling into the data or the detail. So I think it'sabout a balance, but it's about agreeing those up front, because if yousuddenlyof everything goes sor of slightly more fluffy and we say oh wellW, you know we did this. We did that, and people go ere acdually. Well, whatdid it deliver? So I think I agreeing that a certain amount of it doesn'tnecessarily need to be measured. It is important. You'V got toagree that withthe state holders up front, we also have to take into account particularfrom a global perspective that certain regions operate slightly differentlyand therefore, certainly certain regentere in Europe. The way we do,some tactics has much more success than in other regions. In France, forexample, face to face events still have a huge Roi for us, it's just certainnature and culture, a certain regions. So again, when we're rolling out ourcampaigns and the different tactics under ABM, we do take that into accountin the wider model. Absolutely, and in terms of that involvement at we spokeabout early on in the conversation from different parts of Your Business andyou mentiond about when it comes to ABM activities, an you silling down withvirtual team to decide whats really needed, for that particular accountwhen you come to those specific geographies or countries within withindifferent regept. Is that something that's driven by the virtual team? Oris that something that actually you just have a general sort of acceptancethat, in France face to face in personal events, aremore successful than other tactic, so w will work. We have a core accountbasedmarketing team and they work across the different regions and they will workwith the sales leader and the marketing leader in that region. To say this iswhat we put together. This is what's available. These are the different usecases. These are the different materials is different tactics and thenbased on it being a one to one or one O few. We would then decide as a team andat that point, the leader, the sales leader, all that the marketing leaderbecomes part of that virtual team. For a campaign in Italy and Diberia, forexample, or in our duck region or in Latin America or in Australiaa n NewZealand, they become part of that and then they'll say yes we're going toroll in, because wewere already doing this activity, it's as an account baselevel and we're targeting our top twenty account. We will roll this intoyour key activity into this particular industry, for example. So it isn't a one size fital. There is alittle bit of flexibility as to what different regions need. So it's goodthat we've got that autonomy across and are able to do that absolutely, and Ithink that's probably a lot of it down to you know, obviously a start up or asmall company, but you're also not one of the largest companies in the world,so there's a degree of agelity within your within your business. Nowabsolutely we spoke a few minutes ago about you now understandig and havingthe data to suggest that your abm, campaigned or programs are generating ahigher return investment than typical marketing programs, one of the one ofthe interesting things to always look at from admspective as well. What's making that more successful, isit a number of accounts, or is it certain other things that you look atin order to drive that success from from an account point of view, are youseeing a sweet spot or any other metric...

...that you look at that actually says?Well, that's likely to peak to be a successful labin campaign, because wehave x amount of account or is that or do you look at things slightlydifferently than that? I think we'll look at things and look at what we deemto be successful. We do a lot of prontend research. We really understandwhat our customers are using Tib code for h. What is the value that they arereleasing within their organization, and I think the fact that we've beendoing that as part of our kind of vertical use case and usecase campaignshas really helped to fuel the account based marketing activities. So it'sabout understanding the which campaigns are going to work for which industriesand really trying to speak, that that customer language D and that in turn,helps us to decide on the account based activities. There is a natural synergybetween traditional campaigns and our industry or vertical, or even you knowthe horizontal piece and account based marketing, and I think the success isthat when we are doing it at a very targetedlevel into specific accounts, you a m not going to say you see, the lightbulb go on, but you do see the engagement with those accounts they go.Yes, we've got that Chinge. We've got that problem. Oh Gosh, wow, okay, kidcoast talking my language. We see that, in our response rate to some of our use,Casen and account based marketing messages and that that intern isdriving, that that conversion and those higher response rates and ultimatelybecause we're having this value conversation with these accounts, bededa one to one or one to few level that in tern is helping the accountexecutive in his team to have a really strong value conversation. One of thethings that we're seeing is the average deal size is increasing through ouraccount based marketing activity. Interesting and with regards to thatpiece, with the average deal side, do you see Ativco, ABM being more of a newbusiness acquisition, type approach or Doto seeit? Or do you see in moregeneral terms? Tha ABM can also be utilized as a as an approach toexisting customers to go deepr and wider and build those relationships inother part of the business and, and it is the latter. We are typically workingon that one to one and the one O few with the majority of existing customers,and that's because there is still a lot of opportunity ar customers aretypically enterprise customers. They have multiple business units andmultiple divisions and lots and lots of different parts of their organizationso ast we may have one part of our portfalior in one part of the business.There's a great opportunity for us to expand out- and you know have thiscross- multiply, multiply product effect and be able to sell moreproducts into different parts and expand off footprint. And you know theold rule is that it's easier to sell into your existing insisting customers.So we certainly most of the tactics are in there. I think the more one to manypeace is very good for identifying and bringing to th the thefor some net newnames, and then what might happen is they may move into our one to few andar one to one account activity. So you know we monitord that very closely tosee the responses and to see the kind of account that are coming through andthe leads that are coming through from that, and they may well work their wayinto the other parts of the ABM triamphl interesting and when we lookas we started, the conversation talking more about Abx and we've dived intoabmmor so throughout. But when you look...

...at the success that you're having withwith ABM versus some of the more Traditional Marketing Program tot youoperate, what is the goal of Abx Activ co? Is it to increase your average dealsize? Is it to Shortin the sale cycle? Is it just to build more larger andmore trustid relationship with your customers? OBYOUS CE ABM Sounas, ifit's working very Wellfou abx is definitely a one of those buz wordsthats coming more so into the industry, but but for yourselves APTIPICO. What'sthe ultimate goal of doing more and more abx an standar on Ab, I think it'sreally. You spoke about building deeper and longer and moretrusted relationships with our customers. Weall know- and we see thiswith the customers that we're working with that customers need to be at thecenter of you know, an organizations, business and so the customers thatwe're working with that's a key thing for them, and it is exactly the samefor TIPCO. We want to have stronger, deeper, more trusted relationships withour customers, and we want to do that, as I mentioned before, with all of theorganizations the different teams that have a touchpoint or have arelationship with the customer and through this abx approach. That is whatwe are looking to achieve and ultimately have that longevity ofrelationship and trust ev partnership with those customers and help them torealize the value within their business. And ultimately, you know that thatinturn to livers, Valu and revenue back tfo Tidco as well excellent wyit sounds if you've thatyou've you've got on quite he journey from a from a Marktin spectum in termsof going, I suppose, years ago, operating the traditional marketingprograms, shifting successry to an ABM model and ten shifting again over aperiod of time through to an abx model. It sounds s if the successis you're seeing are payingoff through the work that you put in place wee coming to the end of ourconversation, now actually eve so and- and it has been really interesting toappreciate r all your insights. Ultimately, if anyone wanted tocontinue the conversation with you, take it off line and ask you a fewquestions or learn more about your company and the products that you offer.What is the best way for them to get in touch with you personally and then whatwould be the best best way for them to get in touch with your company tol, butdon't noke Om a talk, I'm ready available on Linkedin and my contactdetails are on there. So more than happy to have people contact me or myemail addresses emadot acton at tikcocom and then for TIPCO. It's thethe website. TITKOCOM WE'VE got a lot of great content. There are chat,windows and other things that people can contact Ed Co Room and get aimmediate response. So we hove to hear from anyone that wants to have aconversation and I'm I'd love to hear from anyone that would like to talkabmab, exabit, more fantastic well once Agai, and thank you for for joining ustoday and look forward to speaking to again so exe thanks very much forhaving me take Cann, O operadics has redefined the meaning ofrevenue generation for technology companies worldwide, while thetraditional concepts of building and managing inside sales teams in househas existed for many years, companies are struggling with the lack of focus,agility and scale required in today's fast and complex world of enterprisetechnology sales. Seeo operatics can help your company accelerate pipelineat operatics. Dot Net you've been listening to be to be revenueacceleration to ensure that you never miss an episode subscribe to the showin your favorite podcast player. Thank you so much for listening until nexttime.

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