Marketo Account Based Marketing

Marketo is joining the ABM party, having noticed that many of its LaunchPoint partners have been advocating ABM for the past year while their chief rival joined an ABM alliance six months ago.  Oracle and Demandbase launched a joint solution back in April, the ABM Leadership Alliance.  Meanwhile, Terminus has been running Flip My Funnel tradeshows for the past year.  As CMS Critic wrote a bit snidely, “Account Based Marketing (ABM) is the new acronym on the block – Marketo just made sure of it.”

In a companion whitepaper, Marketo wrote, “Today, more B2B organizations than ever are shifting their thinking toward account-centricity. For organizations looking for a high return on investment (ROI), executives need to think in terms of high-value accounts, account penetration, market penetration, and logos. And so a marketing strategy that partners with sales to focus your combined energy on a more targeted approach to finding, engaging, and closing the accounts that really matter naturally aligns to the C-suite and the organization’s strategic goals.”

Marketo ABM supports three sub-processes:

  1. Target and Manage: Account Targeting via account and lead level scoring.
  2. Engage across Channels: Engage Accounts and decision makers across multiple channels including email, web, ads, events, social, and mobile and leverage customer behaviors captured in Marketo Audience Hub to tailor messages.
  3. Measure Your Impact: Refine messaging and channel selection via analytics.  Marketo tools include ABM dashboards, account dashboards (profiles), named account dashboards, and account lists.

For capabilities not supported directly by Marketo, the firms suggests customers look to partner solutions within LaunchPoint for predictive analytics, account enrichment, advanced advertising technology, and account based sales automation.

Marketo's Named Account Dashboard highlights the top individuals at a named account and their recent activity. Other metrics include firmographics, email performance indicators, pipeline value, and web activity.
Marketo’s Named Account Dashboard highlights the top individuals at a named account and their recent activity. Other metrics include firmographics, email performance indicators, pipeline value, and web activity.

“While marketing and sales teams have long been doing account targeting, the technology hasn’t been available to reach and engage accounts – and the decision makers within them – in a coordinated, scalable way from one place,” said Marketo CMO Chandar Pattabhiram.  “Built natively within the Marketo platform, Marketo ABM provides account teams with all of the necessary tools to discover, manage, engage, and analyze the accounts with the most revenue potential, thus driving revenue from their most valuable accounts and delivering higher return on their sales and marketing investments.”

InsideView Infographic
InsideView Infographic

InsideView is one of a dozen launch partners for Marketo ABM.  According to an InsideView press release, “InsideView targeting intelligence for ABM provides a new way for companies to leverage insights that fuel account scoring, lead-to-account mapping, and the high quality and depth of InsideView’s account and contact data. InsideView’s ABM solution helps align both sales and marketing with a consistent view of accounts and contacts across marketing automation and CRM systems and coordinated campaign execution.”

In support of the partnership, InsideView offers an ABM Acceleration Kit and the InsideView API for maintaining CRM and marketing automation data along with account and contact insights.  The Acceleration Kit helps with ideal account targeting, account alerting, and access to corporate family trees and buying committee member intelligence.

“Targeted data based on rich, contextual insights is the secret sauce for ABM,” said Marc Perramond, VP Product Management, InsideView. “Reorienting your marketing and sales to focus on accounts is a huge undertaking for many companies, so it’s critical to get account selection right. If you don’t, no ABM actions will work. We’re doing everything we can to make our customers’ ABM initiatives successful on whatever level works best for them. A bundled solution for a quick jump-start, APIs for a more do-it-yourself model, and a partnership with Marketo to ensure seamless execution and visibility into ABM efforts.”

Predictive Analytics company Everstring was also named a launch partner.  According to their press release, “EverString helps B2B companies expand, prioritize, and enrich their marketing and sales databases. EverString Audience Platform accomplishes this by combining applied data science, machine learning, and artificial intelligence with the broadest set of data signals from more than 27 million companies.”

The other launch partners include AdRoll, Bluewolf, Digital Pi, Dun & Bradstreet, Elixiter, Fathom, LeadMD, Owler, Perkuto, and PFL.

“The combination of Marketo ABM with Dun & Bradstreet’s data, analytics, and insights will enable our customers to precisely identify their highest-potential accounts and effectively engage them across online and offline channels,” said Dun & Bradstreet General Manager Michael Bird.

One key area Marketo doesn’t address in their press release and supporting whitepaper is mapping leads to accounts.  Perhaps this falls into LaunchPoint account enrichment, but the Marketo database and workflows are built around leads (people), not accounts.  Unless leads are immediately mapped to accounts, they will exist in a nether world outside of ABM management.  Last week, I wrote about LeanData which offers inbound lead-to-account matching.  Avention’s Eloqua Connector (next story) is another example of real-time lead matching to accounts.

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