Hallelujah, finally someone has said it! Display advertising to a list of accounts is not ABM, it’s a tactic that should be considered within an ABM approach.
Interestingly, the ABM consortium research states 70% of marketers still believe a list based approach is account based marketing. This research contains some really juicy facts around account selection, for example, 54% of highly mature companies are using tech to build their list, which means 47% are not.
What I’d love to know is why the ABM consortium automatically categorised any company that has reported a high amount of revenue from an ABM approach as a ‘mature’ organisation. I am nit-picking a really good report, but it’s true that people may embellish the truth, so by creating some questions, building a framework for judging what ‘mature’ means, and using their own expertise could offer a more accurate reflection of the results.
So what’s missing in most ABM programs? Well, it’s the marketing itself, its over-reliance on technology to inform your programs vs. technology use to direct you, whilst layering marketing intelligence on top. It also highlights another problem; if you’re just focusing on list based display it means sales probably haven’t been involved.
ABM Guru says: don’t lie back on your magic carpet of technology and expect it to do all the work. Combine your intelligence with your tech to build a multi touch program, not just list based display.
So what are we saying?
– Use your sales team intelligence and your own CRM to give you a starting point for building an account list.
– Refine it using technology solutions (e.g. predictive or intent data).
– Build your foundations correctly, understand your audience within those companies, how they consume content and what content works best.
– Build a multi-touch program and measure engagement vs. focusing on leads.
– Analyse what is working on how engaged the companies you originally built were vs. the ones the technology solutions directed you towards.