In our recent webinar, “The Power of ABM – Cross-Functional Collaboration for Success,” hosted by TACK and Terminus, account-based marketing expert Nick Bennett led an engaging session with industry experts Tyler Pleiss, Davis Potter and Chelsey Axline. They delved into how ABM drives your go-to-market strategy, offered insights on aligning teams, shared motivating success stories and unveiled essential tools and techniques they believe are crucial in enhancing your ABM initiatives.
Here’s a summary of the key takeaways from our panelists:
The Evolution of ABM
ABM has evolved from a niche marketing tactic into a comprehensive go-to-market strategy that needs to be integrated into every marketing initiative. Davis broke this down into two advanced models:
- Enterprise ABM: Tailored for large organizations with significant resources, this model focuses on creating highly personalized, one-to-one campaigns for top-tier accounts, emphasizing deep, individualized engagement.
- Growth ABM: Designed for scalability, this approach targets a larger number of accounts by segmenting them into tiers. It starts with deep personalization for Tier 1 accounts and then adapts content for broader Tier 2 and Tier 3 accounts.
Modern ABM integrates these strategies into the core of a company’s go-to-market approach, rather than treating it as a standalone tactic.
Cross-Functional Collaboration Strategies
To ensure effective teamwork across functions, consider these key methods:
- Structured Meetings: Implement a regular meeting cadence—weekly with outbound leaders, bi-weekly with outbound teams, monthly with sales leadership, and quarterly for QBRs. This keeps everyone aligned and informed.
- Focused Communication: Emphasize high-level objectives and key performance indicators (KPIs) in meetings, avoiding excessive focus on tactical details to maintain attention on overarching goals.
- Alignment with Company Goals: Ensure that account-based strategies are integrated with broader company objectives, such as product adoption or market expansion, so that every initiative supports larger business goals.
These strategies highlight the importance of regular, purposeful communication and alignment with strategic objectives.
Marketing & CS: Creating the Perfect Partnership
Key findings for aligning various teams, particularly marketing and customer success, include:
- Deep Integration: Actively involve customer success teams by participating in their daily activities and meetings to better understand their priorities and challenges.
- Collaborative Planning: Involve customer success and other relevant teams early in the planning of marketing initiatives. Gather their feedback and agree on shared goals and timelines from the start.
- Building Relationships: Engage in activities like customer business reviews to strengthen relationships and gain valuable insights, which enhances collaboration and buy-in from all teams.
These strategies emphasize the importance of close integration and collaborative planning for effective cross-functional alignment.
Real World Examples
Davis Potter provided an example of a successful ABM campaign using a tiered approach. An organization targeted 350 accounts, creating highly personalized campaigns for Tier 1 and adapting content for Tiers 2 and 3. This method effectively drove both acquisition and retention by starting with deep personalization and scaling content accordingly.
Tyler Pleiss shared a strategy where a champion from a prospect account was involved in developing the account-specific approach. This champion’s insights helped refine messaging and content, resulting in positive feedback and ultimately converting into a successful contract. Tyler’s approach demonstrates how involving key stakeholders can enhance the relevance and impact of ABM campaigns.
Chelsey Axline recounted the “Terminus Rock Stars” program, a targeted advocacy initiative. By carefully selecting around 300 high-potential customers and engaging them through personalized interactions, Chelsey’s team achieved a 95% retention rate and saw advocates purchase more products over their lifetime compared to their control group of “happy” but non-advocate customers. This program’s success was attributed to its focus on building strong, personal relationships and providing tailored content.
Conclusion
The event showcased how modern ABM strategies and effective cross-functional collaboration can drive significant results. By evolving ABM practices, maintaining structured and purposeful communication, and deeply integrating teams, businesses can achieve remarkable success in both acquisition and retention.
