Transcript
WEBVTT
1
00:00:05.140 --> 00:00:09.880
welcome back to be to be growth. My
name is Dan Sanchez, and today we are
2
00:00:09.880 --> 00:00:14.670
continuing this deep dive journey into
account based marketing. As you
3
00:00:14.670 --> 00:00:18.410
probably already know. I am a marketer
that doesn't have too much experience
4
00:00:18.410 --> 00:00:22.310
and b two b yet but much experience
with digital marketing, especially in
5
00:00:22.310 --> 00:00:25.640
the B two c in the nonprofit context.
Higher ed like I've done a lot of
6
00:00:25.640 --> 00:00:30.510
different verticals, but I'm still
diving deep into specifically B two B
7
00:00:30.510 --> 00:00:34.360
marketing tactics. And this month we're
going deep into account based marketing
8
00:00:34.370 --> 00:00:37.820
for a number of different reasons. If
you want to Nome or go back to February
9
00:00:37.820 --> 00:00:42.800
1st episode, and you can learn about
why the deep dive that's going on in
10
00:00:42.800 --> 00:00:47.750
the month of February and for this
episode I'm diving into a book, the
11
00:00:47.760 --> 00:00:52.270
probably the quintessential book on the
topic that is, by far the most
12
00:00:52.270 --> 00:00:55.150
recommended that I've seen. It was the
first book recommended to me on this
13
00:00:55.150 --> 00:00:59.640
topic, and I actually read this book
for almost a year ago as my first kind
14
00:00:59.640 --> 00:01:04.680
of taste into this topic of account
based marketing. And that is a B M is B
15
00:01:04.680 --> 00:01:09.080
two B by Sandra Mevasseret, and I
wanted to start with this book because
16
00:01:09.080 --> 00:01:12.940
it is so recommended more than more
than any other book that I've seen so
17
00:01:12.940 --> 00:01:16.740
far in the most recognized, partly
because it's the only book I've read so
18
00:01:16.740 --> 00:01:19.880
far. So all the other books I'll be
reading from now I'll be given to
19
00:01:19.880 --> 00:01:24.890
comparison back to a B M is B two B for
you, the reader. So stay tuned form or
20
00:01:24.890 --> 00:01:29.350
episodes Reviewing Different A B M
resource is mostly books, so I'm still
21
00:01:29.350 --> 00:01:33.900
looking for some courses and different
things to review. So here it is. My
22
00:01:33.900 --> 00:01:38.320
review on A B M is B two b, some of my
best takeaways and things you can get
23
00:01:38.320 --> 00:01:41.050
out of the book even without reading it.
If you just listen to the podcast, I'm
24
00:01:41.050 --> 00:01:45.620
hoping to give you some insights into a
B M that come from this book. So here
25
00:01:45.620 --> 00:01:51.960
are my top takeaways from A B M is B
two B. For starters, this book paints a
26
00:01:51.960 --> 00:01:57.510
wonderful picture about why a B M is
even necessary by painting the picture
27
00:01:57.510 --> 00:02:03.730
of how inefficient our current systems
are. And I'm like, so aware of this and
28
00:02:03.730 --> 00:02:07.360
the B two c space because it just
happens all the time and it's there's
29
00:02:07.360 --> 00:02:10.680
nothing you can really do about it. And
B to C We all know that we're gonna be
30
00:02:10.680 --> 00:02:14.600
marketing the thousands, tens of
thousands, millions of people and that
31
00:02:14.600 --> 00:02:18.910
a small fraction of them are actually
in the market for what we're selling.
32
00:02:18.920 --> 00:02:24.560
You know, one, maybe 2% right? But
there's even Aziz. Narrow as a segment
33
00:02:24.560 --> 00:02:28.350
is, you can drive and is is targeted as
you could get your ads. There's just
34
00:02:28.350 --> 00:02:32.880
not much you could do about it because
you do not know who your advertising to
35
00:02:32.880 --> 00:02:37.600
on the other side, and this book does a
fantastic job of kind of painting with
36
00:02:37.600 --> 00:02:43.530
a broad strokes. What that looks like
and why a B M is why it's time for B
37
00:02:43.530 --> 00:02:46.920
two B marketers to embrace account
based marketing because it essentially
38
00:02:46.920 --> 00:02:51.890
flips the funnel. As Sandra would say
on its head by, instead of going after
39
00:02:51.900 --> 00:02:57.010
the large group of people, you're
flipping it and going after the few
40
00:02:57.010 --> 00:03:02.440
people you know are in your
demographics, your firm, a graphics,
41
00:03:02.440 --> 00:03:08.370
your psycho graphics and are actually
in the market for what you're selling
42
00:03:08.380 --> 00:03:12.270
now. Of course, it's never perfect, but
it's a certainly a whole lot closer
43
00:03:12.280 --> 00:03:17.280
than it would be if you were just like
spraying and praying with ads
44
00:03:17.290 --> 00:03:20.830
everywhere, or as much as you can
target or segment that we know. We're
45
00:03:20.830 --> 00:03:25.050
only getting a small fraction of who we
hope to get, but that's what you have
46
00:03:25.050 --> 00:03:28.120
to do if you were in the BTC space and
what most people are doing in the B two
47
00:03:28.120 --> 00:03:34.720
B space and tell a B M. Another thing
the book does remarkably well is after
48
00:03:34.720 --> 00:03:38.710
painting the picture of why it's
necessary. Doing a good under doing a
49
00:03:38.710 --> 00:03:41.620
good job of painting like what is
account based marketing and how does it
50
00:03:41.620 --> 00:03:45.890
work? And while I'll be going into
their team framework in a bit. The
51
00:03:45.890 --> 00:03:49.180
reason why it's important as a book to
really paint a good picture of what
52
00:03:49.180 --> 00:03:52.630
we're actually trying to achieve is
because this book isn't just for
53
00:03:52.630 --> 00:03:57.510
marketers. It's equally just for sales
because this is one of those marketing
54
00:03:57.510 --> 00:04:01.780
plays. It's just a much a sales play,
and I know I have marketers and
55
00:04:01.780 --> 00:04:05.890
salespeople listening to this podcast
right now and this account based
56
00:04:05.890 --> 00:04:09.490
marketing approach is one of those
things that Sandra will say you have to
57
00:04:09.490 --> 00:04:14.560
come together on and be totally aligned
and have a clear understanding of what
58
00:04:14.560 --> 00:04:17.670
you're trying to achieve together. And
if you don't have a clear understanding
59
00:04:17.670 --> 00:04:20.209
of what you're trying to achieve
together, then it's just not gonna work.
60
00:04:20.209 --> 00:04:23.000
Well, if marketing thinks they're
building this and Sales thinks they're
61
00:04:23.000 --> 00:04:26.440
going after that, then how successful
are you going to be if you're not
62
00:04:26.440 --> 00:04:30.240
trying to build the same thing? So that
is one great thing about the books. It
63
00:04:30.240 --> 00:04:33.270
does paint a clear picture of what it
is we're talking about, what we're
64
00:04:33.270 --> 00:04:38.260
going to try to build together and what
some success should look like. And that
65
00:04:38.640 --> 00:04:43.850
from there, the thing that he uses to
paint the picture is what he calls the
66
00:04:43.850 --> 00:04:51.570
team Framework and Team is an acronym
that stands for Target engage, activate
67
00:04:51.590 --> 00:04:56.380
and measure, um, to kind of blend all
the kind of necessary steps to do a
68
00:04:56.380 --> 00:05:01.260
good A B M campaign. So let's dive into
each one of those to take a look at
69
00:05:01.270 --> 00:05:03.560
what they mean by the team framework.
70
00:05:04.740 --> 00:05:08.930
First, the target is to narrowly define
the scope and identify the target
71
00:05:08.930 --> 00:05:14.470
companies that truly align with what
you're offering, essentially picking
72
00:05:14.470 --> 00:05:19.670
out your ideal customers, not thousands
of them. But what are the ideal? Like
73
00:05:19.670 --> 00:05:24.180
if you could make a list of the 100
best case scenarios or the 100 people
74
00:05:24.180 --> 00:05:27.550
you'd like to work with the most in B
two B, it's two companies. What
75
00:05:27.550 --> 00:05:31.440
companies do you wanna work with the
most? What companies are those once you
76
00:05:31.440 --> 00:05:37.050
know what those companies are based on,
well defined, uh, firma graphics. What?
77
00:05:37.060 --> 00:05:41.080
Who in those companies are going to be
the most likely person you're gonna
78
00:05:41.080 --> 00:05:45.690
want to contact first in order to
introduce your offering? Thio. Once you
79
00:05:45.690 --> 00:05:50.040
have that, you could go and find that's
the to me. That's as a B two c market.
80
00:05:50.040 --> 00:05:53.910
Or it is just remarkable that you could
go and find the name email, sometimes
81
00:05:53.910 --> 00:05:58.850
the phone number or linked in profile
of the exact people you need to get in
82
00:05:58.850 --> 00:06:02.650
touch with. If you've only done
marketing and b two B and haven't done
83
00:06:02.650 --> 00:06:06.900
B two C, then you know like that's just
a gold mine and I'm like, man, if we
84
00:06:06.900 --> 00:06:09.790
know exactly who we want to talk to,
and we have their contact information.
85
00:06:09.790 --> 00:06:12.970
Then how do we approach that? And
that's what a B M is. It's essentially
86
00:06:12.980 --> 00:06:16.780
taking the goodness that is B two B and
making the best of it. Since we can
87
00:06:16.780 --> 00:06:21.190
identify the exact person in the exact
company that we need to talk to the the
88
00:06:21.190 --> 00:06:25.470
top 100 of them, what do we do from
there? So that's targeting is just
89
00:06:25.470 --> 00:06:30.270
narrowly defining that. And then we
move into engage in the team framework
90
00:06:30.280 --> 00:06:34.510
E for engage and that is to reach and
interact with the target accounts in a
91
00:06:34.510 --> 00:06:40.210
meaningful and personalized ways. Not
just like spraying and praying, as I
92
00:06:40.210 --> 00:06:43.970
said before, but actually customizing
all your marketing pieces for them
93
00:06:43.980 --> 00:06:48.160
because you know the top 5100 people
you wanna work with. And of course, you
94
00:06:48.160 --> 00:06:52.090
could scale it out to 1000 with
technology. But because you know who
95
00:06:52.090 --> 00:06:56.260
they are, you don't have to just send a
one size fits all brochure. You don't
96
00:06:56.260 --> 00:07:00.120
have to just send a one size fits all
advertisement. No, you can customize
97
00:07:00.130 --> 00:07:04.230
every set of ads specifically for the
customer. What message do you want to
98
00:07:04.230 --> 00:07:09.290
give to Brian? Who works at Salesforce?
If you're trying to sell the Salesforce
99
00:07:09.290 --> 00:07:14.350
is an example. And if you know V P.
Ryan, who is the head of procurement at
100
00:07:14.350 --> 00:07:17.990
this specific part of Salesforce on?
I'm just making that up. I don't I
101
00:07:17.990 --> 00:07:21.050
don't know who is in charge of
procurement at Salesforce, and I just
102
00:07:21.050 --> 00:07:24.810
threw Brian in there. Then what do you
want to say to Brian? Because you could
103
00:07:24.810 --> 00:07:28.960
literally get his attention in ah,
multitude of different ways. What do
104
00:07:28.960 --> 00:07:33.870
you want to say to him? In what order?
In what ways that are meaningful to him
105
00:07:33.880 --> 00:07:39.460
that not only get his attention in a
good way but can lead a good like a
106
00:07:39.940 --> 00:07:45.210
bread crumbs to your offering in a way
that attracts that away that delights
107
00:07:45.210 --> 00:07:50.710
them in a way that serves them well. So
that's kind of what they mean by engage.
108
00:07:50.720 --> 00:07:54.420
The next one is activate. How do you
activate them? How do you get them from
109
00:07:54.420 --> 00:07:58.300
just engaging with you, toe? Actually
be becoming part of your pipeline? How
110
00:07:58.300 --> 00:08:00.930
do you get them to take the steps
through the pipeline to becoming an
111
00:08:00.940 --> 00:08:05.280
actual sale and that's what they mean
and activate. Since you know exactly
112
00:08:05.280 --> 00:08:07.960
who you wanna work with, how do you
prioritize those people in your
113
00:08:07.960 --> 00:08:12.740
pipeline? Um, not just cold leads that
are coming in. Who who might have don't
114
00:08:12.740 --> 00:08:17.010
fit your perfect 100 customers? But how
do you make sure you're leading those
115
00:08:17.020 --> 00:08:22.760
100 through the pipeline? Well, since
you know that they're the best fit and
116
00:08:22.760 --> 00:08:26.900
then lastly, M for measure in the team
framework is about setting up a
117
00:08:26.900 --> 00:08:30.120
different way of measuring things.
Because let's be honest in the lead
118
00:08:30.130 --> 00:08:34.549
generation, in the inbound marketing
approach, the way we measure success is
119
00:08:34.549 --> 00:08:37.480
very different. As a marketer, you're
probably measured by the amount of
120
00:08:37.480 --> 00:08:41.570
leads you produce, not the amount of
sales I know. There's been many
121
00:08:41.570 --> 00:08:45.660
situations where I've been measured on
the amount of leads as my first primary
122
00:08:45.660 --> 00:08:48.840
metric as a marketer. I know I'm
successful based on hitting my lead
123
00:08:48.840 --> 00:08:52.990
number, you know, in secondary by
revenue. But how do we make sure we're
124
00:08:52.990 --> 00:08:58.470
actually measuring the right things? By
the amount of by the accuracy and the
125
00:08:58.470 --> 00:09:01.910
targeting by the amount of engagements
with the people we targeted by
126
00:09:01.920 --> 00:09:06.620
activating a good percentage of those
in there and then the amount of those
127
00:09:06.620 --> 00:09:10.630
targets that become actual revenue.
That's kind of how they approach
128
00:09:10.640 --> 00:09:14.680
measuring in a kind of like, very basic
way. That's what the funnel now looks
129
00:09:14.680 --> 00:09:18.760
like. If we indeed flip the funnel to
go after the few rather than the many,
130
00:09:19.240 --> 00:09:22.540
so that going breaking down that
framework in the book was really
131
00:09:22.540 --> 00:09:25.480
helpful for me. Of course, they go into
much more detail. If you're new to a B
132
00:09:25.480 --> 00:09:29.530
M, then that was probably a helpful
kind of intro to the subject. But if
133
00:09:29.530 --> 00:09:32.290
you like that framework, and it
provides clarity for you to kind of
134
00:09:32.290 --> 00:09:36.820
break it up into this nice little
acronym team, right, then you need to
135
00:09:36.820 --> 00:09:40.640
read this book. It goes into much more
detail about it, And one additional
136
00:09:40.640 --> 00:09:44.120
thing that I really loved about this
book is that even though Santorum is
137
00:09:44.130 --> 00:09:48.040
the founder of Terminus, which is a
company that helps you achieve these
138
00:09:48.050 --> 00:09:52.990
endeavors with technology, he rarely
mentions Terminus much or how Terminus
139
00:09:52.990 --> 00:09:58.500
can help you. He's really in this book,
championing the methodology of account
140
00:09:58.500 --> 00:10:03.010
based marketing more than he is selling
his product which, as a marketer, I
141
00:10:03.010 --> 00:10:06.570
respect at the same time. If somebody
throws a right foot hook for their
142
00:10:06.570 --> 00:10:09.830
product, I'm a marketer, so I get it.
I'm like, Hey, I got a job and then you
143
00:10:09.830 --> 00:10:14.930
gotta make the ask you right? You got
to try to convert their as well. So I
144
00:10:14.940 --> 00:10:19.520
don't really shame marketers for
mentioning their product more in books
145
00:10:19.520 --> 00:10:23.130
or even throwing a strong called action
at the end. But Santorum doesn't do
146
00:10:23.130 --> 00:10:28.170
that. He's really championing the cause,
Um, and the methodology now, for me
147
00:10:28.170 --> 00:10:31.580
personally, there was one thing I
didn't like about the book, and that is
148
00:10:31.580 --> 00:10:37.340
the book is fairly long. It is like a
200 plus page book, but it doesn't give
149
00:10:37.340 --> 00:10:42.590
enough specific examples like I love to
have specific case studies. I don't
150
00:10:42.590 --> 00:10:48.290
want to just know about the general
idea of how to build a target list. I
151
00:10:48.290 --> 00:10:51.960
want to see how if people built it, how
did they get the information? What are
152
00:10:51.960 --> 00:10:55.020
some of the measures they've other
companies have used to identify their
153
00:10:55.020 --> 00:10:58.630
target account? Did they just keep
stacking on, like making up random
154
00:10:58.630 --> 00:11:01.260
firma, graphics or demographics and
just narrowing and narrowing it down.
155
00:11:01.260 --> 00:11:05.310
They got down to 100 through certain
size lists. That was certain size
156
00:11:05.310 --> 00:11:08.610
companies. Now what are some of the
ways they get all the information and
157
00:11:08.610 --> 00:11:12.400
load? Those listen to the CRM is like,
I'm I don't know. Maybe it's because
158
00:11:12.400 --> 00:11:15.310
I'm a marketer That's in the weeds so
much, and I'm the one who actually has
159
00:11:15.310 --> 00:11:19.310
to go and figure out the details. I
love case studies that give me very,
160
00:11:19.310 --> 00:11:23.060
very detailed For some people, it's,
like way too much and way too boring.
161
00:11:23.060 --> 00:11:26.060
But I love the details. The thing is,
the book was pretty long and it didn't
162
00:11:26.060 --> 00:11:30.570
give those details. So I'm like, I wish
the book were like Half is long or were
163
00:11:30.580 --> 00:11:35.660
as long as it was, but with more
specific Rick Granular details for each
164
00:11:35.660 --> 00:11:40.210
step. Like I would love to see a dozen
different case studies for every single
165
00:11:40.220 --> 00:11:44.370
step in the team framework. 15 case
studies of how different people
166
00:11:44.370 --> 00:11:48.410
targeted 15 studies of how different
people engaged, activated different
167
00:11:48.410 --> 00:11:51.510
ways. They've measured using tools or
no tools. You know what are the
168
00:11:51.510 --> 00:11:55.310
different ways we can do this because,
you know, some of us like myself have
169
00:11:55.310 --> 00:11:59.090
to actually figure out how to do this
themselves with the technology with the
170
00:11:59.090 --> 00:12:02.310
people building, the system's doing
some of the outreach, like I have to
171
00:12:02.310 --> 00:12:05.330
figure out how to do this and work with
my sales team myself. So I would love
172
00:12:05.330 --> 00:12:09.160
some more specifics. Um, not that I'm
afraid of going and figuring it out by
173
00:12:09.160 --> 00:12:12.480
myself, but it certainly is helpful to
see how other people have done it. So I
174
00:12:12.480 --> 00:12:15.590
could make my own make up my own mind
about how I want to try it. Here it
175
00:12:15.590 --> 00:12:20.400
Sweet fish media, though, even though
that's the only downfall of the book, I
176
00:12:20.400 --> 00:12:24.780
know that you know there's different
strokes for different folks. Different
177
00:12:24.780 --> 00:12:28.990
people like different things out of
books. Uh, James Carberry, the founder
178
00:12:28.990 --> 00:12:31.860
of Sweet Fish Media, and I often talk
about like we like different things
179
00:12:31.860 --> 00:12:37.120
about books because he likes the broad
overview. He likes the big ideas that
180
00:12:37.120 --> 00:12:40.680
come out of books, and he gets bored
looking at all the tactics and very
181
00:12:40.680 --> 00:12:44.190
granular strategies of how to achieve
the thing. He just wants to know about
182
00:12:44.190 --> 00:12:48.870
what's possible and what the big idea
is, and that's he's a CEO. That's kind
183
00:12:48.870 --> 00:12:52.540
of how CEO's role and how they should
roll. But I'm a marketer. I like to get
184
00:12:52.540 --> 00:12:56.290
down into the nitty gritty. You know, I
want to know exactly how it's been done
185
00:12:56.290 --> 00:13:00.190
before because I need to make choices
myself and and those things give me a
186
00:13:00.190 --> 00:13:03.170
little bit more guidance and how I
could make a choice. I need to see the
187
00:13:03.170 --> 00:13:06.950
footprints of where other people have
been in order to take my own steps. So
188
00:13:07.440 --> 00:13:11.170
that's probably my own bad thing. I
noticed about the book because it took
189
00:13:11.170 --> 00:13:14.050
a long It took much longer to read
because it was, honestly, a little too
190
00:13:14.050 --> 00:13:18.440
long without the details I wanted. But
at the same time, I know some people
191
00:13:18.450 --> 00:13:23.120
like that, and if you're like me, then
just be aware of that going in the book.
192
00:13:23.130 --> 00:13:27.760
And if you're more like James, then
you'll love the book just by it, for
193
00:13:27.760 --> 00:13:33.130
sure. So that's kind of my breakdown of
this book. Stay tuned for the next
194
00:13:33.140 --> 00:13:37.770
episodes coming on A B M, but
specifically the ones on book reviews,
195
00:13:37.770 --> 00:13:41.480
because I will be doing comparisons
from this book to the next book I read
196
00:13:41.480 --> 00:13:46.170
on a B M, which I haven't read yet, and
we're getting more detail as we unpack
197
00:13:46.170 --> 00:13:49.520
this thing called account based
marketing. Thank you so much for
198
00:13:49.520 --> 00:13:56.220
listening. Hey, everybody. Logan was
sweet fish here. If you're a regular
199
00:13:56.220 --> 00:14:00.120
listener of B two b growth, you know
that I'm one of the co host of the show,
200
00:14:00.130 --> 00:14:04.040
but you may not know that I also head
up the sales team here. A sweet fish.
201
00:14:04.050 --> 00:14:08.490
So for those of you in sales or sales
ops, I wanted to take a second to share
202
00:14:08.490 --> 00:14:12.630
something that's made us insanely more
efficient. Lately, our team has been
203
00:14:12.630 --> 00:14:16.900
using lead I Q for the past few months
and what used to take us four hours
204
00:14:16.900 --> 00:14:22.550
gathering Contact data now takes us on
Lee. One where 75% more efficient were
205
00:14:22.550 --> 00:14:26.150
able to move faster with outbound
prospecting. And organizing our
206
00:14:26.150 --> 00:14:30.980
campaigns is so much easier than before.
I'd highly suggest you guys check out
207
00:14:30.990 --> 00:14:37.170
lead I Q. As well. You can check them
out at lead. I q dot com That's l e a d
208
00:14:37.180 --> 00:14:43.140
e que dot com Eyes The decision maker
for your product or service Abebe
209
00:14:43.140 --> 00:14:46.680
marketer. Are you looking to reach
those buyers through the medium of
210
00:14:46.680 --> 00:14:52.060
podcasting? Consider becoming a co host
of B two B growth. This show is
211
00:14:52.060 --> 00:14:55.920
consistently ranked as a top 100
podcast in the marketing category of
212
00:14:55.920 --> 00:15:01.550
Apple podcasts, and this show gets more
than 130,000 downloads each month.
213
00:15:01.560 --> 00:15:05.290
We've already done the work of building
the audience so you can focus on
214
00:15:05.290 --> 00:15:09.770
delivering incredible content to our
listeners if you're interested. Email
215
00:15:09.770 --> 00:15:13.460
Logan at sweet fish media dot com.