To read part 1 of this post, click here.
Our latest webinar with DXC Technology and Demandbase focused on the need for brands’ sales and marketing departments to hold each other accountable to execute successful account-based marketing campaigns (ABM). DXC’s pursuit marketing, which is a type of ABM aimed at closing key accounts within specified time frames, relies heavily on highly efficient sales/marketing relationships. In our initial post, we describe how pursuit marketing requires a brand’s people, technology, and media agency to work in symphony to close a deal.
Below, we address a few of the questions we received from webinar attendees.
The first question we received was about resources. If marketing is focused on closing a single account through a multifaceted and highly strategic campaign, it begs the question of how a company is to staff and pay for this practice.
Q: So pursuit marketing is a fully targeted strategy that requires deeper knowledge on the company, but doesn’t it also mean more marketing employees?
A: Yes—the more pursuits you’re after, the more resources you’ll need for your pursuit marketing efforts. Pursuit marketing resources are easier to justify as you achieve more wins through these programs. For strategic, large deals, the cost of marketing is a small portion of the cost of engagement, so these resources are relatively easy to justify.
The second question related to the organization of a pursuit marketing strategy through a customizable platform. DXC leverages Agent3; Demandbase has a similar offering to help identify and manage accounts.
Q: Is [the Agent3 platform] a custom platform unique to DXC?
A: The Agent3 platform was developed by an outside partner and is used by many customers, but it was customized and configured to meet DXC’s exact needs.
ABM and pursuit marketing aren’t just for large companies. Smaller companies are also able to execute on strategies that home in on specific accounts. Many data providers exist to help companies of all sizes refine or grow their target lists.
Q: Can we talk about how to approach small-scale lists in media buying?
A: You can use intent data (either first- or third-party) to determine where your targets are in the buying stage to determine the following: do they even know what my company is? What are they doing online, both on my site and off my site?
First-party data combined with insights from companies such as TechTarget and IDG clue you into how your target accounts are engaging with online content, as well as where they are in the purchase funnel. In the instance of a small scale list, elimination of waste is vital.
ABM (and pursuit marketing) rely on targeting decision-makers and influencers. What better way to gauge an individual’s ability to pull the trigger on your product or service than his or her job title?
Q: Can you address how to approach job role targeting in media buying?
A: LinkedIn is one of the most effective platforms to target by job role, but you can use third-party data sources such as Demandbase, Dun & Bradstreet or Bombora.
Not surprisingly, our attendees wanted to know what a great ABM strategy looked like. Unfortunately, there’s no one-size-fits-all solution. Your customers are nuanced in their decision-making and consumption patterns, so you’ll need a strategy that is flexible enough to adapt to non-linear paths to purchase.
Q: Can you please provide an example of a successful ABM program (i.e., specific tactics and steps of an integrated campaign)?
A: Successful ABM programs vary wildly depending on your goals, as well as on your brand’s awareness and market share.
For new brands such as DXC, we found that a combination of geo-targeted out-of-home, brand partnerships with key publishers, and “always-on” digital media produced a spike in brand relevance and engagement among pursuit accounts.
Another successful campaign involved changing the perception of an established flash storage brand amongst a list of FinServ accounts. In this case, DWA leveraged hyper-targeted media and customized content to message specific FinServ business decision-makers and influencers. The client saw increased website engagement and ROI from these targets as a result.