Time to revisit another classic topic and dust off an old gem we first shared quite a while back. We first published this blog back in 2017, and here we are, seven years later, resurfacing it because it remains as relevant and valuable as ever. Account-based marketing (ABM) might seem like yesterday’s news to some, but let’s face it – it’s the strategy that keeps on giving, and whether you believe it or not, some individuals are still hearing or learning about it for the first time!
ABM has been one of the fastest growing trends in marketing over the years. But ask any sales team and they’ll tell you this is hardly new—they’ve been organizing themselves around accounts for years. That’s precisely why it’s time to get sales and marketing (back) on the same page about how important an account’s data is. Specifically, the teams need to align on the way an account is stored in Salesforce and why it is critical for the business.
As we revisit this ABM topic, it’s crucial to remember that there’s no one-size-fits-all approach in terms of which strategy your team implements. It’s a dynamic decision that we talk through with many of our clients and is uniquely dependent on what you sell and how you engage with your customers. Yet, amidst the ever-changing world of marketing, one truth remains: ABM still works. The only thing that’s changed since our last chat 7 years ago? The tech.
While marketing automation platforms, data enrichment tools, of course, CRM’s like Salesforce, and so many other systems have grown popular in the market, for now, we’re going to look back at the 4 key responsibilities of a well-maintained account in Salesforce.
1. Accounts are the centre of the universe for sales activity
For sales, accounts are the centre of the universe and a touchpoint for many other teams, as well. An account holds all the data necessary to eventually convert into an opportunity, so it’s critical that the data that is fed in from marketing be as accurate as possible.
2. Accounts are owned and/or shared by a team
Accounts may often be worked by multiple teams and users. A single account can have involvement from AEs, BDRs, Managers and Solutions Experts during the sales cycle, and then is handed over to Customer Success and Support teams to handle all things post-sale. It’s essential that the account data is standardized across its various destinations, since managing that account is a team-based activity. Each stakeholder should have the information that they need regarding that account in order to ensure the success of the account from the beginning prospecting stages, all the way to becoming a long term customer.
3. Account data influences capacity planning on models
Businesses tend to plan their future based on accounts. By examining various account metrics, a business can make predictions about the future and implement a strategy involving territory, industry, capacity, and more to maximize the opportunities. But all of this can only be done with a mutual agreement of what constitutes an account and whether that account has been created with clear, accurate data.
4. Accounts are ‘special’ and need minimum data standards
This is exactly why marketing needs to be as data-driven and informed as possible when executing account-based marketing campaigns and handing them over to sales. Too often, the marketing team isn’t aware of the complexity of accounts within Salesforce and hands over accounts based on the approximate data used on the marketing automation side of things. As account-based marketing increasingly proves itself as a vital source of high quality leads, this discrepancy needs to be addressed and data standards need to be put into place.
Accurate account data is vital to a healthy customer journey and increasing conversion rates. If ABM and sales strategies are to align, both marketing and sales need to be speaking the same language and using the same data when it comes to accounts. Feeling inspired to take your marketing to the next level? Got burning questions about ABM? Don’t be shy – we’d love to chat!
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