The Latest from the ABM Experts
November 20, 2015
#FlipMyFunnel Account-Based Marketing Strategy Drives More B2B Revenue
Written by Lauren Patrick
I had the awesome opportunity to present at the 2015 Vidyard Space Camp. This video marketing summit included B2B marketing mavens and innovative video marketing rockstars from top firms nationwide. In my presentation, I discussed how implementing an account-based marketing strategy such as #FlipMyFunnel can improve the success of any B2B marketing campaign. Check out my full presentation here:
Here are just a few key takeaways:
Traditionally, marketers have used a lead-based marketing strategy. That is used to build awareness over a large group of potential clients, spending more to gauge interest, going back and spending more on building consideration through email or cold calling, and finally, hopefully, getting a purchase. This is what your traditional B2B sales and marketing funnel looks like.
Here are the Top 3 things wrong with the traditional lead-based funnel
- The funnel is fundamentally wrong because it is lead based and as Sangram said in his presentation “the idea of focusing on leads and one person is contradictive because nobody has ever closed a lead, you only close accounts.”
- This strategy looks at people as numbers, attempting to reach as many people as possible instead of reaching as many qualified accounts as possible.
- If you look at the funnel it is broad at the top and narrow at the bottom. This shows just how much time, money, and energy is wasted on leads that will never become profitable accounts for your business.
Here at Terminus we live by the term #FlipMyFunnel. By Flipping the funnel you get rid of your traditional lead based marketing strategy and introduce a more effective account-based marketing strategy. By flipping the funnel you start your campaign with the end in mind, focusing on the key decision makers in the buying decision. You can map your tools and strategies around this target audience, saving time and money on your campaign. By flipping your funnel you bring Sales and Marketing together to create better conversion rates and more profit for your business.
Below are the Top 5 #FlipMyFunnel benefits that help unite Sales & Marketing
- Increased awareness among named accounts: Once sales have identified a list of target companies Marketing can begin working to get your message in front of your customers in a every way possible. This creates greater alignment and results
- Account nurturing on steroids: Turning your email campaigns into account-based campaigns automatically increases pipeline numbers because you’re reaching out to less people
- Wake the account and not just a lead: Marketers spend so much time and money on getting leads but only a few convert into opportunities. Instead of waking leads that have no purchasing power within their organization, you can focus on waking whole accounts by reaching those key decision makers.
- Going big on events: Account-based marketing allows you to follow up on the entire account for the next 90 days instead of just contacts and leads that have signed up on your event. Save time and money by focusing on the potential customers that matter.
- “Always on” air-cover campaign: When a prospect converts into a lead, instantly start putting your message in front of the entire account and continue to be top of mind. By keeping constant contact with the customers, ABM helps close more deals
Account-based marketing is the future of B2B marketing. By flipping your funnel, you identify your company, identify the key decision makers, reach out to them on their own terms using the best channel possible, and watch your conversion rate soar. To learn more about Terminus click here and to follow up on all account-based marketing news follow our blog at www.flipmyfunnel.com.