Sangram Vajre, Co-Founder and CMO at Terminus, and Nate Hurst, Manager, ABM at Domo, had a whopping 20 minutes to talk about Account-Based Marketing (ABM), and share their case study at MarTech Conference. It was an educational crash course.
“The traditional funnel is ‘how to get skinny, fast’.” – Sangram Vajre
Basically, it’s a diet that isn’t healthy for your business. If you want your business to grow, you have to flip the funnel (join the #FlipMyFunnel movement).
Identify – There shouldn’t be any guesswork left in identifying your target accounts.
Expand – This happens within an account.
Engage – Talk to your customers where they are, not where you want them to be.
Advocate – The greatest benefit of creating content for targeted (few) accounts, shows you actually care. That’s where the magic happens. Your customers will talk about you, and your pipeline will grow.
Measure – There is a recently added fifth layer. Tracking and reporting metrics in ABM is essential to proving the success of your program. You know someone will ask.
How Domo Does It
Most people grasp the ABM concept, but can’t visualize it. This is a program that Domo executed.
What does a morning start-the-day coffee, and a business intelligence tool have in common? Usually nothing. But thanks to customers saying they started their day by opening the platform, the content messaging was born.
Domo started with a direct mail campaign. They created a promo kit, and sent it to CMOs at their targeted accounts.
Though a repeatable process, this can get expensive when diving deeper into an account. They surrounded the next seniority level (VPs, Directors) with something similar, but slightly smaller.
Engage & Advocate
The challenge was how to take their direct mail messaging across digital channels, because that’s where their audience was.
The message stuck with the theme, in these formats, all driven to one landing page:
- Digital ads
- Email scripts
- Voicemail scripts
Domo then took it one step further, by taking those who registered out for coffee. They became memorable, and talked about.
Domo learned as they went along. They iterated and adapted. The results speak for themselves:
- Shifted campaign to focus on late-stage opportunities as well as expansion opportunities
- Resulted in 5x to 7x return on spend
- Helped take one Enterprise account from 2,000 licenses to 10,000
You can find their full presentation here.