Because it targets a very specific type of business, SevOne relies exclusively on ABM tactics when going after new customers. But — as with most Marketing organizations looking to find bulletproof success with their ABM strategy — they didn’t exactly know where to start.
“It can seem like a daunting task,” admitted Tommy Jenkins, SevOne’s former Director of Global Demand Generation, on-stage with BrightFunnel’s CEO and co-founder Nadim Hossain at last year’s #FlipMyFunnel in San Francisco.
According to Tommy, there are four critical components to any successful ABM strategy: Identifying your target accounts, understanding their buying cycle, executing your programs, and analyzing the results. And because SevOne goes after a very specific kind of customer, ABM isn’t a strategy, it’s the strategy — which means they need to make sure they’re doing it right.
18 months before #FMF — when Tommy had first joined the company — he asked the Marketing team to map out the demand cycle in order to learn how a SevOne deal got done.
He realized that when the team looked at a deal from a funnel perspective, it didn’t really add up. The SevOne buyer’s journey — which is complex and non-transactional — needed to be measured differently.
While certain leads or contacts were successfully converted into opportunities on the way to closed-won, others were left in Salesforce limbo and never straightforwardly associated with the deal. “When you look at those [second] two [leads] from [this] perspective, it’s like they didn’t have any impact,” Jenkins said. Because the team was analyzing deals in this linear, opportunity-centric fashion, they couldn’t see all of the touch points where multiple stakeholders within an account were interacting with various campaigns. And if they couldn’t recognize where exactly they were succeeding, they couldn’t make smarter decisions about where to allocate spend down the line.
As Jenkins stated, “Everything [SevOne does] has to be account-based marketing or it’s a waste.” But if you can’t measure ABM with a funnel, how can you measure it?
Jenkins realized that by putting the target customer at the center, he could learn how to accelerate opportunities and create new and larger opportunities with more accuracy. When they adopted a holistic view of their ABM efforts, looking at their target from all sides to see how each tactic made an impact, the team was better able to measure the effects of their work. Because he needed to sit in front of his CMO and CEO and defend his spend, it was imperative that Jenkins ask the right questions (such as which content is resonating most with our audience, and which channels are performing best) and then measure the effectiveness of the team’s ABM efforts.
Enter: Account-Based Attribution.
At Jenkins’ previous company, he and a team had developed their own attribution platform — but it took six months to build and three full-time engineers to maintain. So when he moved to SevOne, Jenkins chose BrightFunnel because it promised to deliver the ABM-specific metrics the team was looking for, and it was up and running in just 30 days. By implementing the platform, the Marketing team could finally understand the impact of their work by gaining full visibility into what exactly made a deal happen. BrightFunnel mapped orphan leads to accounts to illuminate the marketing touches that had before been invisible, and also offered multiple attribution models and robust filters that let the team gain different perspectives on an account.
“I want to know what works and what doesn’t, and what levers I can pull to actually drive bigger deals faster, or new logos that we’re not in,” said Jenkins. With BrightFunnel’s platform, he finally had the “ability to take [SevOne’s] complex sales cycle — long, expensive, with many decision makers — and bring order to it so that now I can actually understand.”
And once Marketing understood, they could explain those levers clearly to Sales as well. The two teams were able to join forces to drive even more success at the company. They could align themselves around achievable, actionable account-based goals based on historical data. They could look through the lens of their campaigns to see the complete view of any account.
Maybe best of all, Jenkins could use this data to defend his seat at the table: “I showed [the data around which marketing efforts had worked] to my boss and her jaw hit the floor when she saw [it]. This is the stuff Sales wants to know, because they’re thinking [about] accounts and titles within those accounts, and tactics that work.” Because of BrightFunnel, SevOne now has “a better view of how [to] win the deals in…target accounts.” That account-centric view is what allows the SevOne team to confidently plan campaigns to help drive more deals, win more logos, and gain more revenue for the business.
Get a more in-depth look at SevOne’s ABM measurement success story by watching Tommy Jenkin’s full #FlipMyFunnel presentation with our founder and CEO Nadim Hossain.