Marketers understand the power of a successful account-based marketing (ABM) program but most of today’s ABM solutions largely focus on solving silos and individual needs, creating huge barriers to growth. The real magic happens when you align your organization for success - having a rule-based collaborative ABM solution that allows teams to execute on their own but also share insights across the whole business.
Enterprise organizations are inherently global; they tend to have multiple product lines, serve multiple geographics and languages. That means multiple teams and stakeholders but also multiple CRMs, systems of record and marketing automation platforms, tools and systems to drive engagement with customers.
Yet when each part of the business chooses its own ABM approach and technology solution, costs explode and teams battle their peers for business, causing anarchy within the organisation and sowing confusion among target accounts. The danger is that everyone ends up competing for resources; and too often those resources are poorly allocated when it comes to supporting the overall business strategy, which requires having a comprehensive view of what’s happening.
In a new webinar, Collaborative ABM: activating your enterprise to reach peak performance, MRP addressed the core challenges inhibiting enterprise organizations with solutions to ensure that ABM is actionable across teams, empowering experts within each team to contribute their knowledge.
Administration, Integrated Data Intelligence, Actionable Target Account Insights, Omnichannel Orchestration and Revenue Driving Analytics are key requirements for enterprise organizations - all of which need to rely on real-time data.
“Data is what fuels that engagement and that knowledge of the customer is not only held within a silo but it needs to be integrated; to take data from multiple sources and operationalize it in a way that is meaningful,” said Pierre Custeau, chief technology officer, MRP. “If all your [engagement] channels are operationalized in silos that don’t share data or process, your buyer experience might look very chaotic, because it’s a reflection of how your systems are internally.”
One size doesn’t fit all
A lot of ABM platforms are built with a typical type of user in mind - a generalist. Whereas, in the enterprise, you might have a lot of people, including specialists, collaborating around ABM.
“That ability to share insights, targeting and form a consistent and comparable framework for measuring results becomes really key,” said Custeau. “If companies don’t do that, and keep using tools separately in silos, the company that might have the ambition to be a customer-centric organization falls into the trap of still remaining very much product-centric - the means of selling one product takes over the need to really engage in meaningful ways with the buyers.”
Building for collaboration
ABM’s role is to steward a cross-functional relationship across departmental silos, while creating a shared view and understanding of the customer - but many ABM platforms aren’t built for this.
“When it comes to making decisions at the higher level of organization, not having that data or a way to benchmark actions done in one line of business against another, creates additional challenges,” said Ajay Subherwal, senior vice-president of enterprise sales EMEA/APAC, MRP. “It makes it really difficult for other functions across the revenue-generating side of the enterprise to make sense of that data and use it in an actionable way. It’s paramount to give a more holistic view of the data across the enterprise and then empower experts within each team to contribute their knowledge to create better engagements with customers.”
Complexity in the decision-making process
Another challenge is being able to action, orchestrate and measure ABM activities across the organization without overwhelming customers with a disjointed set of voices and messages.
“This requires a solution that allows you to: collaborate across various teams, execute multiple platforms and have a single source of truth,” said Subherwal. “It needs to provide the ability to measure and optimize your efforts right across on a client level. If a solution allows you to do that, that will drive better engagement and a better, less fragmented customer experience.”
In order to scale their efforts, companies require a common framework for using these tools to measure effectiveness across multiple channels, silos, tactics, and regions. Currently, 66% of ABM cannot execute across multiple platforms, channel or funnel stages, and 75% aren’t even sure what metrics to show. Having different systems and data silos makes it very hard to measure your ABM strategy, and the efforts from sales and marketing on a client level.
“Having the ability to easily connect all of those systems and centralize the data is table stakes for us,” said Custeau. “Within this framework, each business unit benefits from autonomy, with the support of the larger organization and ability to look across business units and geographies to optimise engagement and attain business goals in a more straightforward fashion.”
Doing more of the same simply isn’t working.