Tag: ABSD / Sales Engagement

Demandbase Takes ABM Leadership to the Next Level

The ABM Tech Stack published by the AMBLA identifies a broad set of technologies involved in implementing Account Based Marketing.
The ABM Tech Stack published by the AMBLA identifies a broad set of technologies involved in implementing Account Based Marketing.

For several years, Account Based Marketing (ABM) was discussed by Demandbase with little interest from other firms.  In the past twelve months or so, it has taken off and become a full blown marketing fad well into its hype cycle (time will tell whether it becomes a movement).  Now that other firms are discussing ABM, Demandbase has formed an ABM Leadership Alliance with Oracle and several other firms.

Account Based Marketing identifies a firm’s best prospects and then looks to deeply market and sell to those organizations.  As B2B purchasing decisions span multiple individuals and departments, targeting single decision makers is no longer sufficient.

“If you are only looking at an individual, you may only get a part of the picture; seeing the collective acting together helps you to truly understand how interested an account is in your solution,” said Demandbase CMO Peter Isaacson.

Last month, SiriusDecisions released a “2016 State of Account-Based Marketing,” report which found that over seventy percent of B2B companies are looking at implementing ABM and have dedicated staff to ABM-specific programs.  The process is still relatively new with 58% of surveyed firms only in the pilot or test phase.  The percent of B2B marketing departments with full ABM programs in place grew from twenty percent in 2015 to 41% last year.

This year’s data shows ABM continues to gain rapid acceptance for B2B marketers.  What is most exciting is that marketers are rapidly building ABM skills so they can deliver on its promise. Marketing teams understand there are many ways ABM can deliver business impact and are reporting on a range of metrics focused on both demand creation and relationship improvement objectives. In the coming year we’ll see marketers continue to invest in ABM technologies to deliver on their goals.

  • Megan Heuer, VP of research at SiriusDecisions

The alliance is expanding ABM beyond Demandbase’s original programmatic marketing slogan to a broader concept spanning Engagement, Account Selection, Infrastructure, Measurement, and Sales Enablement (Sales Intelligence).

Sales Enablement is broken into three categories all supported by traditional sales intelligence platforms: Sales Intelligence, Account Insights, and Contact Development.  ABMLA has defined these terms a bit differently than I have.  By Sales Intelligence, they mean improved coordination between sales and marketing including target account intelligence gathered by marketing.  Account Insights focuses on buying signals to assist with outreach prioritization.  Contact Development focuses on deeper intelligence around decision-makers.

Missing from their model is ABSD (Account Based Sales Development) services that provide sales reps with pre-defined messaging and campaign cadences  which can be adjusted by sales reps.  ABSD firms provide what SalesLoft refers to as “sincerity at scale.”  Other firms in the ABSD category include QuotaFactory and KiteDesk.

“For ABM practitioners, being able to go beyond the account to the contact level is critically important to drive deeper relevance and specificity,” said Matt Senatore, research director at SiriusDecisions. “For those companies focused on lead generation within target accounts, technology that can help automate this is an important component that enables their ABM programs to scale more efficiently.”

The alliance noted that “B2B companies face a set of unique marketing challenges, which require specific technology to address. As you navigate the space, you’ll need to identify the technologies and vendors that have solutions built for the unique needs of B2B.”

The founding members of the alliance include

  • Demandbase – “Full Funnel ABM”
  • Oracle Marketing (Eloqua) – Marketing Automation
  • LookBookHQ – Content Marketing Automation
  • Get Smart Content – Content Personalization
  • Optimizely – Testing and Automation
  • Bizable – Attribution and Reporting
  • Radius – Predictive Analytics

At this point, the alliance does not have any Sales Enablement members which is understandable because Demandbase operates at the very top of the funnel targeting anonymous individuals at named companies.  However, several sales intelligence firms have already adopted ABM positioning including Avention, Zoominfo, DiscoverOrg, and DataFox.

The alliance was announced on the opening day of Demandbase’s annual user conference.

Gartner Cool: Radius, Everstring, SalesLoft…

SalesLoft, DemandBase, Datanyze, and Leadspace made Gartner’s “Cool Vendors in Tech Go-to-Market, 2016” list.  According to the report, “Marketing and sales enablement leaders should consider these software-as-a-service applications to complement existing CRM tool investments.”  Gartner also recognized predictive analytics firms Everstring and Radius in the data-driven marketing category.

Providers are doing a better job in responding to the changing B2B technology buying cycle and the higher expectation that buyers (both prospects and customers alike) have when they look to make a purchase. Some of this involves process and training improvement, improved messaging and positioning. But there is also a technology element, particularly as it relates to things like data, analytics, content, targeting, personalization and engagement.  And clients are increasingly leveraging the latest tools that allow them to make better, smarter decisions.

  • Gartner Research Director Todd Berkowitz

Here is what Berkowitz said was cool about the firms:

  • Datanyze – The technology tracking firm helps identify “when a particular piece of SaaS or mobile software (say from a competitor) is added and fire off alerts.” This feature helps SDRs and sales reps see “which companies are in market and engaging with them.”  Datanyze also offers a “cool” Chrome browser extension called Insider which displays firmographics and technographics from a company website, performs on demand email detection, and uploads this information to Salesforce.
  • Demandbase – The firm supports Account Based Marketing (ABM) marketing with IP-based advertising and personalization tools.  The firm delivers “a unique ‘one-two punch’ of real-time IP identification and technology that makes it possible to deliver company advertising (targeting and retargeting) and website personalization to help marketers increase awareness, drive up conversions, generate net-new and upsell/cross-sell leads from named accounts, and measure program effectiveness across the funnel.”
  • LeadSpace – The predictive analytics vendor helps customers “generate demand, enrich and prioritize accounts/leads from companies with a higher propensity to buy.”  Berkowitz also commended their “virtual data management platform that drives their models and recommendations.”
  • SalesLoft – The Account Based Sales Development (ABSD) firm assists sales development reps (SDRs) with lead qualification and prospecting.  “Their suite of templates, an integrated dialer and real-time analytics are a lot cooler for SDRs than the old way of working. And they work much better.”  Their Cadence tool helps streamline prospect communications such that “some of their customers reported more than doubling the number of successful connections, appointments, demos and sales-qualified leads (SQLs), while reducing follow-up time from leads by more than 75%.” Their new Sales Development Cloud provides prospect intelligence to SDRs from DiscoverOrg, Crystal, Owler, InsideView, Datanyze, RingLead, Sigstr, and ExecVision.
  • Everstring – A more recent entrant to the predictive analytics space (founded in July 2014), Everstring offers predictive demand generation and scoring models at both the lead and account level.  Everstring covers eleven million B2B companies and 20,000 different attributes with “rapid deployment of models across many points in the funnel.”  The firm is also a strong proponent of ABM and helps marketers identify accounts.  “EverString’s predictive account models enable marketers to identify high-potential ABM candidates and then push them to third-party ABM platforms for use,” said Berkman.
  • Radius – The predictive company was lauded for its segmentation tools which help SMBs “determine total available market, create attractive segments and identify accounts to target.”  Radius was also praised for its  “clean interface,” “data and analytics tools,” and the ability to train and validate models within one business day.  Berkman warned that Radius has faced little competition in the SMB market to date but is likely to face stiffer competition as both Radius and the market for predictive analytics solutions grow.

Berkowitz noted that these tools are all focused on making it easier for marketers and down-the line sales to make better decisions” noting that they all rely on the “heavy use” of data and analytics.

Radius provides easy to interpret segmentation, success analytics, and net-new lead prospect acquisition tools from within SFDC.
Radius provides easy to interpret segmentation, success analytics, and net-new prospect acquisition tools from within SFDC.

While many of these firms provide predictive analytics, Berkman contends that vendors will soon be offering “prescriptive analytics” that help firms decide what should be done.  Thus, analytics will shift from predictions based upon historical analysis to recommendations concerning which actions to take.  Prescriptive analytics utilizes graph analysis, simulation, complex event processing, neural networks, recommendation engines, heuristics, and machine learning.

“We have seen it [prescriptive] used a little bit on the sales analytics side already,” said Berkman. “It is likely that we will get to that stage with marketing so the marketer will know not only who is most likely to buy and what they will buy.”

For marketing, prescriptive analytics will assist with prospect identification, optimizing customer communications, and improving prospect offers.

Another trend you will find amongst the cool vendors is the heavy citation of ABM and ABSD tools amongst these vendors.  Everstring, SalesLoft, and DemandBase are all strong proponents of ABM while Leadspace recently partnered with ABM vendor Engagio.

Account Based Sales Development

Yesterday, I posted a blog on Avention’s website concerning Account Based Sales Development which discusses how sales development is being converted to a knowledge-based function:

Account Based Sales Development (ABSD) is the latest twist on Account Based Marketing (ABM).  ABSD takes account targeting down to the sales development role and shifts sales development staff away from smile-and-dial cold calling across many weak prospects to a targeted focus on your best candidates.  As such, it raises the knowledge level and professionalism of Sales Development Reps (SDRs).  With ABSD, SDRs are no longer tied to a script.

Traditional sales development was often relegated to inexperienced sales reps or specialists that excelled in cold calling and appointment setting.  The success rate was low so sales development reps needed thick skins and persistence.

But ABSD begins with the premise that the sales development goal is not to call across as many prospects as possible, but to deeply penetrate your best prospects.  As such, the cost of researching best prospects is shared across many calls, making it affordable to amortize the research across many calls into the same target account.  Thus, “strategic focus allows the rep to allocate the front-end research effort across many touchpoints.  Furthermore, by targeting best fit accounts with customized messaging, the likelihood of garnering a response is significantly higher.”

The Avention Company Profile provides a quick overview of the company (e.g. location, firmographics, business description), social media links, an Ideal Profile Score, family trees, execs, news, sales triggers, SWOTs and additional insights to support informed calls into ABSD targets.
The Avention Company Profile provides a quick overview of the company (e.g. location, firmographics, business description), social media links, an Ideal Profile Score, family trees, execs, news, sales triggers, SWOTs, technology profiles, and additional insights to support informed calls into ABSD targets.

The number of B2B information services firms now messaging around ABM and ABSD is astonishing.  Two years ago, programmatic marketing firm DemandBase was the only voice discussing this strategy.  Now you will find it is a method being discussed by marketing automation, predictive analytics, and sales intelligence firms.  There is even a new set of firms focused on ABSD as a product offering including SalesLoft, QuotaFactory, and KiteDesk.  While Sales Genie and Colabo haven’t picked up the banner of ABSD as yet, they have products that also support this approach.

 

SalesLoft: Account Based Sales Development

A few months ago, I had not heard the term “Account Based Sales Development,” but it seems to have been rapidly adopted by several companies focused on tools for teams of sales development reps.  The term is an extension of the Account Based Marketing (ABM) methodology into the middle of the funnel.  Logically, the targeted focus of ABM programs, combined with predictive lead scoring, should be supported after opportunities are marketing qualified.  Thus, was born ABSD.

Traditional marketing is  volume based.  How many opportunities can we warm up?  How many are marketing qualified and forwarded onto sales?  But a volume approach lacks personalization.  It uses blast emails in a “spray and pray” approach to hit numerical targets.  The problem with this approach is that non-personalized emails are generally ignored.  While the approach might uncover a few more leads, it does so at the risk of tarnishing B2B brands, hurting email sender scores, and pushing low-yield opportunities down to your sales team (for them to ignore).

One of the most prominent advocates of ABSD is SalesLoft which built its Cadence product in support of ABSD:

SalesLoft defines Account-Based Sales Development (ABSD) as “a sales development approach in which prospective customer accounts are treated as markets of one, reached through hyper-personalized, targeted campaigns.” “Markets of one?” Sounds like a lot of effort for one prospective account. But it makes sense, considering the great shift in buying habits that’s been happening since the advent of the Internet. In order to become successful with ABSD, you need to deliver sincerity and personalization at scale. It’s a significant change in the way marketing supports sales, how sales supports the business and management’s expectations of activity and results from the revenue team.

Sincerity at scale sounds like an oxymoron, but the Cadence platform is designed for custom campaigns managed by the sales reps.  Thus, marketing can setup and tune the messaging and campaign steps, but sales reps may adjust prospect messaging during the campaign.  Hence “sincerity at scale.”

SL
SalesLoft Cadence allows marketing to define campaigns which are managed by sales reps.

“While ABM’s best delivery tools are tools and technology platforms for content, ads and emails, the sales development rep (SDR) is the key in ABSD,” noted SalesLoft in an e-book.  “Sure, the SDR might have tools to help them do their job. But without personalized, sincere and professional communication, it doesn’t matter how good an SDR’s work ethic might be. They’ll fail in ABSD.”

To assist with personalization, SalesLoft launched its Sales Development Cloud earlier this month.  The partner hub provides company and contact content sets from DiscoverOrg, InsideView, Owler, RingLead, and Datanyze.  Other vendors provide advice on tone (Crystal personality profiles), customized email signatures (Sigstr), and conversational highlights (ExecVision).

One method for accomplishing such sincerity is switching the SDR focus from a single lead to an account.  This process reorientation allows the rep to leverage her research across many prospective buyers and influencers at an account instead of working a single opportunity thread.  Matt Amundson, the Senior Director of Sales Development at Everstring, described this shift on LinkedIn:

Account-Based Sales Development (ABSD) employs a similar strategy to hyper-personalization. The SDR still does high-level research on an organization, referencing an organization’s content released in blogs, social channels, and press releases.  The delta here is utilizing the same research across multiple prospects throughout an organization, instead of just one.  That means the same 20 minutes of research is infinitely more valuable and far more scalable.  A SDR focuses on the entire account by multi-threading, instead of just reaching out to a single lead.

For several years, ABM was an idea pushed by DemandBase at the very top of the funnel to identify anonymous individuals at targeted companies for programmatic campaigns.  The idea gained more traction as predictive analytics firms began to discuss ABM as part of their ideal profiles and scoring tools.  For them, ABM was a descriptor of the process of cherry picking the best opportunities within your funnel and finding net-new similar leads.  Thus, ABM became a method for strategic account targeting by the marketing department.  With ABSD, this focus on the best opportunities with targeted messaging has now worked its way to the middle of the funnel.

SalesLoft is not the only sales acceleration vendor discussing ABSD.  The term is also being propagated by QuotaFactory and KiteDesk.