Last week I attended the TOPO Summit in San Francisco. The two-day event welcomed 2,000 sales and marketing leaders from the world’s best companies.
In 60 sessions we explored the top trends in sales and marketing. Unsurprisingly, account based marketing stole the show.
So, here are my highlights from the ABM track.
Account based marketing leads expansion efforts
Fast-growing companies depend upon expansion revenue for growth. And ABM has earned its place as a driver of this expansion.
TOPO’s statistics show that companies report:
- Doubled win rates
- +30 percent increased deal sizes
- 11 percent close rates
Consequently, it’s no wonder that ABM is a hot topic in B2B circles right now. Furthermore, it isn’t cooling off.
90 percent of B2B marketing will be account-based over the next few years.
For this reason, ABM looks set to drive expansion across the entire revenue chain—from marketing, to sales, and beyond.
Achieve account-based scale
The biggest challenge for companies is getting coverage across accounts. In response to this, TOPO labelled three levers of scale—doing more, to more accounts, more often.
Gemma Davies described ServiceNow’s scale efforts as a need “to put structure around the interest ABM was getting in the business.” As a result, the business spearheaded a global ABM pilot to align sales, marketing, brand, and customer success.
He demonstrated how their ‘ABM Asset Delivery Platform’ acts as a bridge between sales and marketing.
SAP developed the platform in partnership with MomentumABM. It hosts a vault of account-ready communications which sales teams can self-serve from, and request different levels of customization.
As a result, SAP can rapidly localize communications for account scenarios. The strategy now supports an impressive €30m revenue.
The organizational aspect of scale was echoed by MomentumABM’s client, Adobe. Marissa Dacay and Ashley Penn exploded the myth that ABM is a marketing initiative. In fact, it must encompass all functions.
Adobe’s transition to become account based started over five years ago. It adopted a blend of adaptive digital techniques and data-driven personalization. This is now applied to different tiers of customers, and measured by a sophisticated Account Engagement Score (AES). As a result, the AES transcends a multitude of touch points, underpinned by smart technology platforms.
Adobe’s journey shows that the ABM tech stack is going beyond marketing automation. Memorable customer moments clearly demand tech that can automate the mundane. Furthermore, this means we are freed up to focus on high-value experiences.
Get customer obsessed with ABM 2.0
Now at ABM 2.0 stage, the model works harder by engaging customers post purchase—from onboarding, to celebrating joint success, and becoming ‘advocate ready’.
Post-purchase ABM is an increasingly important topic in the enterprise cloud space. Above all, growth depends on reoccurring revenues, ongoing adoption, and sustained loyalty.
Finally, thank you to TOPO for a fabulous event, and to all the great people I met over the two days. I’d love to hear your thoughts, feel free to reach out to me direct at David.email@example.com