I recently had the opportunity to co-lead a day-long workshop (alongside my consulting colleagues) with an established $1 billion corporation in the engineering simulation software space. The company was looking to complement its broader demand creation strategy with an account-based marketing (ABM) program for 15 accounts. The goal was to grow these existing accounts with a cross-sell strategy to new buying centers. Accounts were grouped into four clusters based on common characteristics. Increasingly, we see clients use an approach that targets approximately 20 to 30 enterprise accounts, but achieves some level of scale by grouping three to five similar accounts with common characteristics.
The workshop started with a morning presentation designed to create a foundation for the entire ABM pilot team. The majority of the workshop then consisted of concrete, hands-on planning exercises with four planning teams, each representing one of the solution initiatives that the company has deemed a “big bet” for the coming year. A significant amount of preparation work was done during the two months leading up to the workshop. That work was leveraged to move through a series of account planning steps, including goal setting, insights validation, resource inventory and activity planning.
There were several reasons that having account managers, sales leaders and cross-functional marketing practitioners working together in one room for a full day was so powerful:
The attendance and active participation of the AMs and TAMs for all 15 accounts for was a testament to the commitment of the company to adopting a named-account ABM approach. But the one-day workshop was only one step in this client’s journey. This client has the opportunity to access research, tools and inquiry services that can help the pilot get off the ground quickly and effectively, and keep the pilot on track over time.
Are you considering an account-based marketing approach and want to learn what ABM is all about? View our webcast “Account-Based Marketing: What It Takes to Get Started.”