How to do ABM without an ABM tool – Part I

By Lauren (Dichter) Bensussen, Sr. Marketing Consultant at Heinz Marketing

If you’re trying to attribute sales to marketing efforts in an accurate and effective way, you need to invest in an attribution tool. And if you’re trying out account-based marketing, you need an ABM tool…

Or do you? We know that having the right tools is ideal for the smoothest process possible. That’s why homeowners feel most comfortable hiring specialists to fix important things around the house, like plumbing, electrical, and other issues affecting major systems. Besides actually having the right equipment, these professionals provide a wealth of knowledge and experience that you just couldn’t muster on your own.

On the other hand, when it comes to less complicated and less dangerous issues, most homeowners choose to rely on themselves to fix the problem at hand with the tools at their disposal (thanks, Home Depot!) It may mean that things don’t come out perfectly, but that’s the risk they’re willing to take to save money.

In that same vein, unlike marketing attribution, when it comes to ABM, there’s at least some chance at success even without a specific tool for it. Marketers can gather the key tools that they (hopefully) already have and orchestrate them to execute on an ABM strategy. While an ABM tool is recommended, the following requirements should be sufficient.

Need-to-Have Tools (and their Channels):

• CRM and marketing automation for marketing nurtures
• Robust account/contact database for target account planning
• Sales automation for sales sequences

Need-to-Have Functions, Processes, Precedents:

• Target account alignment between Marketing and Sales
• Target account definition
• Target account prioritization model
• As much integration as possible between all tools
• Good data management

Nice-to-Have Tools (and their Channels):

• AI tool for processing prospect/customer data faster and with greater accuracy
• Intent tool for monitoring both implicit and explicit intent/buying signals
• Account-based content experience platform for fast-tracking the target account marketing process
• ABM chatbot for fast-tracking the target account sales process
• Account-based ad platform for ultra-targeted regular and remarketing ads

 

In Part II of this blog post, I’ll go into more detail for each of the Need-to-Have requirements listed above. Then in Part III, I’ll do the same for the Nice-to-Have requirements. But for now, what do you think is missing from this list?

This list is by no means exhaustive. In fact, I’d like to make this a conversation. Is there any tool or channel you’ve found is either necessary or helpful in developing and executing a successful account-based marketing motion? Share it with us by leaving a comment!