ABM is dead
Long Live ABFM
If you missed our joint webinar with Scratch Marketing + Media, than you probably don’t know that ABM is dead.
I mean, it’s not really dead, but it’s certainly not the same it once was.
We see ABM is just another one of those buzzwords that people have been throwing around to sound smart. Or innovative. We’re all guilty of it, it’s easy to hop on a bandwagon. Heck, it’s even fun (and lucrative) to be part of that group sometimes.
ABM is an empty promise that sales and marketing teams give to the C-Suite when they get asked “what are you working on right now?” and “how are we going to get more leads?” and “we need more deals!” It’s a band-aid to the main problem your organization is facing — disjointed sales and marketing efforts. If you really want to provide some kind of tangible plan to answer the questions from your C-Suite, than ABM needs to be more than just a project, it has to be a philosophy.
ABM Gets an “F”
The whole point (in our minds) of ABM is to get sales and marketing teams on the same page. Too often you see each team living in their own section of the funnel — marketing on top and sales on bottom. Marketing is solely responsible for leads up to a certain point, and when they get handed over to Sales it’s out of their control and responsibility. The same goes for Sales — they aren’t responsible for sourcing leads but instead take whatever Marketing gives them and run with it.
The disconnect is easy to point out, and it’s something that ABM is built to fix. By getting Marketing and Sales on the same page it gives them full responsibility over leads, all the way from an early-stage MQL through closed deal. When sales is responsible for helping source leads, the top of the funnel sees an increase in quality. When marketing is responsible for the performance of MQLs throughout the sales cycle, you can see the quality increase there as well.
The philosophy of account-based activity is the buy-in from your sales and marketing teams to get on that same page, and to broaden their responsibility to include the whole funnel. We see this as expanding the breadth of your account-based approach by including the whole funnel, not just a piece — Account-Based Funnel Management (ABFM).
Where Do I Start?
If you’re sick of slapping band-aids on your sales processes and you want to dive headfirst into a real fix, listen up.
- Contact Us. We offer up assessments of your current Sales + Marketing team structure and processes, giving you an idea of how ready you are for an ABFM strategy.
- Get some information together on things like data accuracy, target lists, ICP, and call cadences. The more information you have for us to analyze the more accurate an assessment we can run.
- Throw out pre-conceived notions on “ABM.” Instead, check out the webinar that was mentioned at the top of this article. It will help put you in the right frame of mind for launching an ABFM program.
- Grab all people involved in a potential ABFM program (hey that’s a tenant of the ABFM strategy!) and get them on the same page. You want buy-in from everyone if you start an assessment like this.
- Get yourself a celebratory drink — you’ve earned it!
Let’s bury the notion of ABM together and praise it’s successor — ABM for the whole funnel: ABFM.
Make sure to check out the demandDrive website and Contact Us to learn more about our services!