How Your ABM Strategies Should Impact More Than the Pipeline
Cassidy Shield, SVP of Marketing and Sales at Narrative Science (who will be on our podcast soon) mentioned that we need to focus our energy on sales velocity and its components including # of opps, average deal size, win rate, and sales cycle time. We need to be talking about how to drive the fundamentals of revenue. When marketers start talking about these elements, where/how to move the needle, and the result on revenue - you will get the attention of leadership and boards.But we can't be talking about where and how to move the needle and result on revenue because we're not tying ABM to business challenges that are tied to revenue. Most ABM programs are still focused at the top of the funnel, even though analytics show that ABM can have the greatest impact at the middle and bottom of the buying journey. In this podcast episode, Kristina Jaramillo shares how:A fintech firm serving mid-market banks as well as national institutions like Wells Fargo are challenged to drive more deals as they are not using ABM to change sales motions, sales processes and conversations so they can improve their win rates. Currently, the stage 1 to close win rate is 5%. An AI tech firm is nowhere close to a signed deal with Mastercard and Walmart after 14 months of conversations because the CMO is not using ABM to accelerate accounts to revenue. The CMO blames it on the fact that they need closers, even though marketing can influence both selling conversations and the internal conversations that sales is not privy to.A channel sales tech firm is unable to create wins with large enterprises that continually make the safe, comfortable bet of investing in legacy platforms like Salesforce. Listen to this quick podcast episode to see how ABM should go beyond pipeline and leads and how it should impact win rates, sales cycle time, deal sizes, the ability to go up-market and much more. After you listen to this episode, sign up for our upcoming ABM webinar: Why 2/3 of ABM Programs Fail. You'll learn about many other mistakes that ABMers are making including making ABM synonymous with ABM tech.