Account-Based Marketing
Vyze, a retail technology that helps retailers optimize their retail credit programs, has a finite and defined list of target accounts that they have a solution for. For this reason broad stroke and inbound marketing won't fill the funnel. Instead Vyze needed a more targeted strategy that focused on the specifics of each account: queue Account Based Marketing.
IDentifying Targets
Prior to launching an ABM strategy a little bit of groundwork was required, including identifying targets. As Vyze was targeting retailers that had over a specific amount in sales, their list of targets was finite. With a final list of 350+ accounts Vyze could further segment this group.
Defining Personas
After determining the accounts, Vyze decided to segment by persona. Each persona targeted within each account were determined to be the decision maker when it came to adopting the Vyze solution. Building out an ABM strategy based on different personas allowed messaging to be unique to what that each specific role cared about.
Securing buy-in
Beyond the decisions makers, Vyze decided to create an additional persona for the list of titles at each company that could influence the buying decision of the CEO, CMO, or CFO. Called influencers, this segment of contacts were placed in a separate campaign flow to provide them with the information about Vyze to have a conversation with the decision maker in which they reported to.
Campaign Touch points
With each ABM campaign, including as many channel touch points as possible in the flow were key in getting the message across and engaging in a conversation with each account. Channels included email, webinar, events, direct mail, and calling.
Email provided the opportunity to send out custom messages based on persona and role. It also is a good first touch point in a full campaign, as it gives a base to reference Vyze communication.
Webinar/Event
A webinar and event create a sense of urgency surrounding the outgoing communication. You need a reason and ask with each message sent out. Besides asking for a meeting, inviting/asking to attend a webinar is a soft way to do that.
Direct Mail
Who doesn't love receiving mail? I created a direct mail send out kit that was nostalgic of summer vacation to keep Vyze fresh on the brain during the slow months. The kit also included our latest ebook and an ask to take a call.
ABM Results
Over the course of a year, 2 ABM cycles were run that included touch points across different channels to reach Vyze identified accounts. These are the results and findings.
Multi-Channel ABM
There is no one channel that proved to engage accounts more than the other. The key is to be spread the consistent message across every channel in the hopes that contact will have to engage with is once or multiple times. A multi-channel ABM strategy allowed Vyze to engage half of its total prospects.
Beyond Engagement
When measuring the effectiveness of ABM while an engagement metric is important, even more so is the degree of conversions. With a 3-6 month sales cycle, Vyze defined conversion as meetings being set and opportunities created. ABM contributed to 25% of all meetings set by Vyze in 2017.
Personalization Wins
ABM is intended to be strategic approach to marketing based on account. While segmenting down to persona and industry were advantageous, the actions that delivered were those that were extremely personalized and custom to the account. Creating individual strategies that were unique to one account, led to the most interactions and opportunities created.