INNOVATIVE MARKETING APPROACH

Account-Based Marketing Pilots

2023 - 2024

PROBLEM

Ninety percent of the 30,000 MQLs that were being generated were Priority 2 MQLs (content downloads) that were converting to opportunities at below 5%. Indicating that looking at one person’s behavior in terms of consuming content on our website was not a predictable source of new business opportunities. Additionally, the new Business Development Rep (BDR) team was struggling to make its numbers due to lack of direction on which accounts to target.

HYPOTHESIS

Utilizing the existing Account-Based Marketing (ABM) platform, Demandbase, to surface all account activity and prioritizing accounts in our ideal customer profile (life sciences with 50+ employees) with AI generative predictive scores will help identify the right accounts to target with advertising and BDR outreach. This coordinated approach will improve the BDR team’s performance.

HOW

  1. Worked with the Marketing Operations Director and the Lead Development Manager to reconfigure Demandbase One to align with current strategy and retrain qualification scores and pipeline predict scores.
  2. Identified a list of 500 accounts in life sciences that have had no 1st party campaign interaction in the last 12 months.
  3. Did a 50/50 blind split on the list into a targeted and a control group.
  4. Partnered with a BDR to identify accounts in Salesforce, clean up CRM data, and prioritize them for outreach. 
  5. Collaborated with marketing services team to update and personalize content and banner ads for each of the journey stages.
  6. Created a full-funnel campaign strategy to target accounts with Demandbase Ads that delivered content based on the account's Demandbase Journey Stage.
  7. Used Demandbase Qualification and Pipeline Predict score to identify and prioritize accounts.
  8. Partnered with the sales team for a unified communication approach to target accounts. This included training the sales reps how to identify and prioritize accounts.

ITERATIVE APPROACH

$1.4M in Closed Won Business

1st Iteration - Control vs Target:

The 1st iteration of the pilot resulted in the targeted list of accounts having 12 new business opportunities created in 6 months (verses 2 in control group) with a higher-than-average deal size. 

4th Iteration - Partnering with Sales and Using Pipeline Predict Score:

During the 4th iteration of the pilot, 12 opportunities were opened in the first three months and more than $1M in revenue was closed within 9 months of launch.

Full-Funnel ABM Campaign Strategy