Joe Chernov is the VP of Marketing for InsightSquared, a sales performance analytics company. InsightSquared helps sales leaders pull out more valuable, actionable information from their CRM so that they can better run their business and more efficiently grow.
Joe is the former VP of Marketing at Hubspot and Adweek named him one of 10 Branded Content Masters Who Make It OK to Love Marketing. Joe shared with Terminus how InsightSquared runs account-based marketing at scale.
Why did you choose Terminus?
Terminus makes sense for InsightSquared’s strategy because we’re trying to run account-based marketing (ABM) at scale.
There’s always been “classic ABM.” For example, stadiums are built on luxury boxes and those luxury boxes are filled with high potential accounts.
What’s lacking, what’s been absent is the ability to run ABM in a one-to-many fashion. That’s what Terminus allows InsightSquared to do.
What strategies are you implementing with Terminus?
My favorite strategy is using ABM practices and technology, including Terminus, to claw back accounts that we’ve lost.
ABM is vulnerable to selection bias. Marketing asks reps which accounts to target. Reps tell marketing which ones to target. Typically, those accounts happen to be the ones that are circling the rim; they’re about to close. ABM and marketing help the reps close and ABM gets falsely inflated credit because those deals may have closed anyway.
But, if we can use Terminus and ABM to take accounts that we’ve lost and get those back, now it’s a two point swing. Not only are we adding new business and generating revenue for the company, but we’re acquiring it from a lost pool, which is doubly valuable.
How do you measure success with your Terminus campaigns?
We measure the success of our ABM campaigns by pipeline created. The metric we use as a proxy for the pipeline is marketing qualified account (MQAs), which we just went live with internally. We also closely track pipeline velocity and opportunity-to-close rate.
What is your favorite thing about Terminus?
Terminus helps us with the most difficult phase of marketing. Basically, B2B tech marketing does three things: it sources new accounts; it gets those accounts to be sales ready, and it helps reps close deals.
The first piece is getting easier and easier with the advent of technologies like DataFox. The last one, while not easy, I know what to do to help our reps in hand-to-hand combat. But how do you take accounts that look like your customers and warm them up to the point of being sales ready? That falls under the easier said than done category.
Terminus is the one technology we’ve found that helps us address that sort of middle stage at a high enough volume to make sense for us.
I think ABM makes sense now because it’s filling the void created by limitations of inbound marketing – that is, it takes a long time to work – and the blanket ineffectiveness of outbound marketing. In between the two, something else had to emerge to help marketers generate near-term results but result in a compelling and account-friendly way. That’s where ABM enters the picture.