Welcome to the second installment of A Few Questions With…, Madison Logic’s interview series with thought leaders about Account Based Marketing (ABM), Lead Generation, Content Marketing, and all things B2B. Today we talk to Adam New-Waterson for his take on ABM.
What criteria do you use when building an account list? How large should it be? How do you determine which companies should be included and which to leave out?
I have no single criteria for creating a target account list. At RevJet we have a well-defined Total Available Market (TAM) so I have no need for things like predictive to help me narrow down my targets. I can practically name them all by heart. I have under 1,000 companies worldwide that are interesting for me to speak with.
You should base your target list on the things that are important to the sale of your product or service. For RevJet we look at Digital Ad Spending Annually as the end-all be-all of determining our targets. The more you spend on advertising online the more I care about you. Every company is totally different based on your product or service offering.
Account Based Marketing means a lot of things to a lot of people. How much customized messaging and content are you personalized for specific accounts? What is your strategy for determining what to customize and how do you execute this customization?
I am back to working at a company with a large enough price-point to warrant creating account-specific content. In the past, I created mostly persona-based content that I directed to specific members of an account. Now at RevJet, because we’re trying to break into the biggest companies in the world, it is suddenly very relevant to create custom content per account.
The way we’re tackling this is by using our Marketing Automation system to create Account-Specific Microsites for our top tier accounts. This includes customized content, personalized video, and is specific plays for each account depending on their phase of the buying cycle. We have a lot more work on this project to do.
What are the top tactics you use within your ABM campaigns that you would advise others to consider?
First, we build Org Charts for each of our top-tier accounts. If we are going to be able to activate a Fortune 50 business, we need to know in detail who each of the people we’re dealing with in a particular account. From there we create an account plan of what the business needs, problems and solutions we can offer. These are customized to a particular account. I work with my sales team to accomplish both items.
In Marketing, we then use the by-product of each of these activities to determine the account-centric plays and campaigns we’ll run. Whether those are door-opening direct mail pieces, customized content, or outbound sales development campaigns we use the org charts & account plans to determine what to do, when.
What are your next plans for your ABM program?
I’d like to get back to running automated Account Based Campaigns by persona. At LeanData we had figured out how to work on a specific moment within the sales process. Then we created content that was designed to bring each of our mobilizers on to the next step in the sales process. Ideally, I’d love us to build something that helps the team scale without losing the high-touch finesse all of our programs include.
If you haven’t had the opportunity to read the CEB team’s book, The Challenger Customer. I recommend it to anyone who is serious about learning about ABM without all the vendor-driven hype that is swirling around the industry right now.
Within the past few months, Adam New-Waterson moved jobs to creative advertising platform, RevJet where he runs Demand Generation and Account-Based Marketing. Formerly the CMO of LeanData, New-Waterson has been a long-time ABM practitioner and thought leader.