How to get ABM working through the whole organization
When choosing their marketing approach, B2B companies have two main options: the wide net, demand gen and capture approach of traditional marketing or, the more targeted and precise account-based marketing (ABM) approach.
While not new, ABM continues to gain significant traction with a growing number of B2B marketing teams. Yet many marketers fail to correctly do ABM. Whether that’s because of failing to give the approach enough time, selecting the wrong accounts, or, most commonly, failing to collaborate with the rest of the organization.
So how does one transition from understanding ABM as a concept to integrating it seamlessly throughout the organization?
We asked Alex Olley, CMO & co-founder at Reachdesk and ABM extraordinaire, about the most common ABM pitfalls and how to correct them.
In his conversation, Alex highlighted how ABM’s success hinges on its implementation throughout the organization and not “just” marketing, noting that the ‘M’ in ABM is a misnomer that sets marketers down the wrong path.
In this post, I’m outlining the main points from the conversation and listing the most common mistakes and how to overcome them.
ABM for who?
Before diving into the dos and don’ts, Alex offered us a useful qualification on who ABM is actually for.
ABM, according to Alex, is “a focused approach to B2B marketing, particularly effective for mid-market to enterprise sectors.” Specifically, “companies that have an average deal size of like less than $10K, you probably don't want to invest in this... but it is for companies that have an ACV probably $10K and above.”
He emphasizes that ABM is not just about marketing but a strategic, organization-wide alignment. It involves a more focused approach, targeting specific accounts rather than a broader audience.
So let’s dig into why many marketing teams have been unable to fully tap into the power of ABM.
The top 7 mistakes marketers make with ABM
Alex doesn’t mince his words when highlighting that many organisations struggle with ABM. Especially, when expecting quick results, not understanding the shift from lead-based to account-based metrics, or not focusing on the alignment and understanding between sales and marketing teams.
Specifically, Alex lists 7 mistakes B2B marketing teams make with ABM:
Expectation of immediate results
“About 40% of ABMers do not see ROI from ABM... they spend loads and loads of time and money on something that's just not going to work... It’s not for people that want fast results.”
Implementing ABM requires patience and a long-term view, as it often takes considerable time before yielding significant results, yet many marketers don’t give the necessary time resulting in failure.
2. Misalignment between Marketing, Sales and the wider organization
“The biggest Pitfall is that people do not see this as a team sport. The ‘M’ in ABM is the most misleading part... It's a team sport regardless of how you label it.”
Implementing ABM often requires significant changes in marketing and sales processes. Successful ABM depends on close collaboration between sales and marketing, yet many organizations struggle with aligning these teams around common ABM goals. Marketers too often go-it-alone, producing a mismatch between the teams which ultimately results in fewer deals being closed.
On top of this, a lack of understanding from the wider organization and leadership, often produces resistance to the change in apporach. This is more often than not down to marketers not educating all stakeholders in what ABM looks like in practice (and how different it is to traditional marketing).
3. Improper account selection
Selecting the right accounts is crucial for ABM success. However, companies often make the mistake of targeting aspirational accounts rather than focusing on those that align best with their offerings and are most likely to convert.
“The first thing they’re going to do is I want to sell to Google, I want to sell to Slack... you need to justify the characteristics of the accounts that you're going to select.”
4. Difficulty in measuring ABM success
Traditional metrics like MQLs (Marketing Qualified Leads) may not be effective in measuring ABM success. Instead, a shift towards account progression and revenue impact is needed. Admittedly, without dedicated tools, like Dreamdata, this can be challenging to effectively track and measure.
5. Inadequate understanding and training
Most marketers don’t have the necessary skills, or at least understanding of ABM, how to measure and how it functions within the wider org. As a result of this, in Alex’s experience, many organizations assign ABM responsibilities to junior staff without proper experience or training, leading to ineffective execution.
6. Inconsistent execution and strategy
ABM strategies can be complex and require consistent execution across various channels and tactics. However, Alex highlights how inconsistencies in approach and a lack of a unified strategy can hinder effectiveness.
7. Resource Intensiveness
ABM can be resource-intensive, requiring dedicated staff, tools, and budget. Smaller companies or those with limited resources might find it challenging to allocate sufficient resources to ABM efforts.
So, how does Alex Olley suggest we overcome these?
Getting ABM Working: A Step-by-Step Guide
Implementing ABM across an organization requires more than just the marketing team’s efforts. It’s a multi-faceted approach that necessitates involvement, alignment, and collaboration across various departments, as well as the right skills and mindset.
Here is some of the advice Alex’s shares on effectively pursuing ABM as your go-to-market approach:
Executive buy-in and education:
You need to educate the C-Suite and ensure that executives understand the value of ABM. Otherwise, their expectations both in time and what the
So, make sure to clarify that ABM is a long-term strategy, and not a quick fix. Of course, highlight the potential for higher ROI, but set realistic timelines for results.
As Alex puts it, “The thing that is critical to understand this is the CEO... they have to know their stuff.”
Align Sales and Marketing teams:
ABM is, as Alex reminds us a “team sport.” And there are three things you can do to make this happen:
Foster collaboration by breaking down the silos between sales and marketing, such as by having joint planning sessions, and conducting workshops or sessions where both teams come together for instance for account selection and strategy formulation.
Establish common goals and use metrics that both sales and marketing teams strive to achieve. Move beyond traditional metrics such as web traffic and simple conversions and focus on pipeline and revenue impact.
See how Dreamdata can help you do this.
Account selection:
Use data to identify high-value accounts. As Alex suggests, analyze “which accounts closed the fastest, which ones have the best close rates, which ones have the best renewal and NDR.”
Once again, collaborating with sales is an essential component here as you can leverage the on-the-ground insights that sales teams have about potential accounts.
Customized buyer journeys:
Understand the specific needs and pain points of each account. Create content and strategies tailored to these needs. This needs to be a multi-channel approach - not just a targeted LinkedIn campaign, but email, social media, physical events, gifts - to engage with the accounts at various touchpoints.
These efforts should also be as personalized and relevant to the account as possible. Alex emphasises how important it is to develop content that resonates with the targeted accounts, addressing their specific challenges and industry trends.
Invest in ABM tools:
To thrive with ABM, you need to invest in the right technology. ABM platforms can automate and streamline your ABM campaigns.
But Alex reminds us it doesn’t end at the tools. It’s necessary to ensure that your team (and not just one individual) is well-trained on these platforms and that they are utilized to their full potential.
Adequate skills and training:
As highlighted above, dedicated ABM skills are in short supply so it’s essential to invest in ABM training and certification programs for your team members.
Start Small and Scale:
Finally, begin with a few high-value accounts, prove the model, and then gradually expand to more accounts. Then create a feedback loop where learnings from initial efforts are used to refine and improve the approach for scaling.
A final word
Implementing ABM throughout an organization is not just about adopting a new marketing strategy; it's about fostering a culture of collaboration, strategic alignment, and customer-centricity.
As Alex Olley’s insights reveal, ABM, when embedded into the organization’s core, can not only align departments towards common goals but also deliver personalized experiences to customers, driving meaningful engagements and, ultimately, business growth.
With a strategic approach, proper alignment, and the right tools, ABM can indeed become a powerful force in your organization’s marketing arsenal.
You might also enjoy:
https://dreamdata.io/blog/4-ways-revenue-attribution-fires-up-account-based-marketing
https://dreamdata.io/blog/fixing-b2b-abm-tracking
https://dreamdata.io/blog/5-unconventional-account-based-marketing-tactics-for-b2bs
