Marketo is diving into account-based marketing (ABM) with a new solution that's built natively within its marketing automation platform.
Less than a month after becoming a private company owned by Vista Equity Partners, San Mateo, Calif.-based Marketo is capitalizing on what is quickly becoming a primary go-to-market strategy for leading B2B companies.
Companies including Demandbase, Engagio, Act-On Software and Oracle have already embraced ABM, which Demandbase defines as a platform that "helps B2B marketers drive more revenue by focusing their marketing and communications efforts on the accounts (companies) that have the most potential to become customers."
ABM has been around since the 1990s, but has recently become easier to implement. Based on the collective decision-making process, it capitalizes on the reality that most B2B buying decisions are made by a group of people rather than one individual. It enhances the ability for B2B marketers to target a cross-section of companies and then drill down to identify the most likely potential customers within those companies.
Marketo's ABM Approach
Marketo claims marketers needed more capabilities to target accounts on websites, personalize ads to show customers relevant content and gain analytical insights on ABM programs. "While marketing and sales teams have long been doing account targeting, the technology hasn’t been available to reach and engage accounts — and the decision makers within them — in a coordinated, scalable way,” Marketo CMO Chandar Pattabhiram said in a statement.
Mike Telem, VP Product Marketing at Marketo, said his company's solution positions marketers for ABM success by integrating new options within its marketing automation platform. Marketo said the solution can help teams of all sizes can target prospects and high-value accounts, engage them across various channels, measure the revenue impact, and facilitate collaboration on the accounts that matter most to the business.
Specifically, Marketo ABM will help marketing and sales:
- Target accounts that matter most in personalized ways and leverage account and lead-level scoring
- Engage accounts and decision-makers across channels, including email, web, ads, events, social and mobile
- Use customer behaviors captured in Marketo’s Audience Hub to deliver personalized messages
- Use account-based analytics that help teams measure ABM efforts across dimensions, including cross-channel engagement, pipeline and revenue
- Use complementary solutions offered by Marketo’s LaunchPoint ecosystem partners such as predictive scoring and account enrichment
Marketo also today a new ABM ecosystem that includes 12 digital services and technology partners that can provide implementation and deployment of the ABM application on the Marketo platform: AdRoll, Bluewolf, Digital Pi, Dun & Bradstreet, Elixiter, EverString, Fathom, InsideView, LeadMD, Owler, Perkuto and PFL.
Corinne Sklar, global chief marketing officer of Bluewolf, said the partnership enables Bluewolf to "implement deeply personal customer programs for clients that have never been holistically available before.”
ABM Helps Marketers Identify Key Decision Makers
In a blog post, Telem wrote that ABM helps marketers and sales teams identify key decision-makers within each account and launch personalized campaigns across channels.
"In many cases, that is easier said than done," he said. "To map and manage strategic communications at this level, sales and marketing alignment need to be in lockstep — from shared tactics, to account identification, to targeting and outreach and continuous feedback."
"We're mainly talking about focus here," Telem told CMSWire. "Accounts that generate more revenue than others or offer other strategic significance."