Ultimate Guide to the ABM Funnel

What is the ABM funnel?

An ABM funnel, or Account-Based Marketing funnel, is a marketing strategy designed to target and convert specific high-value accounts into customers. It’s different from a traditional marketing funnel in a few ways:

• Focus: A traditional funnel casts a wide net to attract a large pool of potential customers. An ABM funnel flips this idea on its head, meticulously selecting a small number of high-value accounts to target with very specific messaging and campaigns.
• Quality over Quantity: ABM prioritizes quality over quantity. The goal is to convert a smaller number of high-value accounts that will bring in significant revenue.
• Personalization: ABM campaigns are highly personalized. Research is done to understand the specific needs and pain points of each target account, and messaging and content are tailored accordingly.

The ABM funnel holds particular importance for B2B companies for several reasons:

• Higher ROI: By targeting high-value accounts, ABM concentrates resources on converting leads most likely to bring significant revenue. This focus on quality over quantity can lead to a higher return on investment (ROI) for marketing and sales efforts.
• Stronger Relationships: ABM fosters personalized communication and builds strong relationships with key decision-makers at target accounts. This can lead to increased trust and loyalty, making it more likely they’ll choose your company over competitors.
• Shorter Sales Cycles: Because ABM targets accounts with a well-defined need for your product or service, it can streamline the sales process. By precisely addressing their pain points, deals can move through the sales funnel faster.
• Efficient Use of Resources: Traditional marketing often involves a scattershot approach, wasting resources on unqualified leads. ABM funnels target specific accounts, allowing for a more efficient allocation of marketing and sales resources.
• Ideal for Complex Products: B2B companies with complex products or services often have long sales cycles. ABM’s focus on nurturing relationships is well-suited for these situations, ensuring potential customers fully understand the value proposition before making a purchase decision.

ABM is a powerful strategy for B2B companies with complex products or long sales cycles. It allows for a more focused and efficient use of marketing resources.

What are examples of the ABM funnel?

Here are a couple of real-world examples of ABM funnels in action:

Example 1: GumGum Targets McDonald’s with a Creative Burger Kit

• Company: GumGum, an advertising technology company
• Target Account: McDonald’s, the fast-food giant
• Challenge: Grab McDonald’s attention in a crowded advertising space.

ABM Funnel in Action:

• Identify: GumGum identified McDonald’s as a high-value target account due to their extensive advertising budget.
• Expand: They researched McDonald’s marketing team structure and key decision-makers.
• Engage: Here’s where things get creative. GumGum designed and delivered custom “burger kits” to key executives at McDonald’s and their media agencies. These kits mirrored the ingredients of a Big Mac, with each element representing an aspect of GumGum’s technology. They also promoted the campaign with short videos on social media, tagging the decision-makers involved.
• Advocate: While the outcome of the campaign isn’t publicly available, the unique approach garnered attention and potentially positioned GumGum for future conversations.

Example 2: Snowflake Leverages ABM for Account Growth

• Company: Snowflake, a cloud data warehousing company
• Target Accounts: High-growth tech companies

ABM Funnel in Action:

• Identify: Snowflake identified a list of fast-growing tech companies that could benefit from their cloud data warehousing solutions.
• Expand: They researched the specific data challenges faced by these companies and the individuals involved in making purchasing decisions.
• Engage: Snowflake developed targeted marketing campaigns using a combination of tactics. This could have included:
  • Personalized display ads on relevant websites frequented by the target audience.
  • Content marketing focused on addressing the data challenges of high-growth tech companies.
  • Webinars or events designed specifically for the target accounts.
• Advocate: By providing valuable content and solutions tailored to their needs, Snowflake could nurture these relationships and turn satisfied customers into advocates within the tech community.

These are just two examples, but they showcase the creativity and personalization possible within the ABM funnel. By understanding your target audience and tailoring your approach accordingly, you can develop effective ABM campaigns to convert high-value accounts into loyal customers.

What are the stages of the ABM funnel?

The ABM funnel, unlike a traditional marketing funnel, focuses on nurturing high-value accounts towards becoming happy customers. Here’s a breakdown of the typical stages involved:

1. Identify: This initial stage lays the groundwork. You’ll meticulously research and select a shortlist of ideal accounts that strategically align with your company’s goals. This involves understanding their industry, size, budget, and any specific challenges they might face.

2. Expand: Once you’ve identified your target accounts, it’s crucial to expand your knowledge of their decision-making process. Research who the key players are and what roles they have in the buying process. This will help you tailor your outreach accordingly.

3. Engage: This is where you shift into personalized outreach and engagement with your target accounts. Craft targeted messages that resonate with their specific needs and pain points. This stage might involve:

• Targeted Emails: Create email campaigns addressing their unique challenges and highlighting how your product or service can provide solutions.
• Social Media Interactions: Engage with them on social media platforms, participating in relevant conversations and showcasing your expertise.
• Events: Consider hosting industry events or webinars specifically tailored to the interests of your target accounts.

4. Advocate: The final stage aims to convert satisfied customers into brand advocates. This can involve:

• Encouraging Positive Reviews: Prompt happy customers to share their positive experiences with your product or service on relevant platforms.
• Case Studies: Collaborate with satisfied customers to develop case studies that showcase the success they achieved with your solution.
• Referral Programs: Implement referral programs that incentivize existing customers to recommend your product or service to others within their network.

By nurturing these relationships throughout the ABM funnel, you can turn high-value accounts into loyal customers who become advocates for your brand.

How to create an ABM funnel strategy?

Creating an effective ABM funnel strategy requires careful planning and collaboration across marketing, sales, and customer success teams. Here’s a detailed guide to get you started:

1. Define Your Ideal Customer Profile (ICP):

• Start with clarity: Clearly define the characteristics of your perfect customer, including industry size, revenue, location, pain points, and technology stack.
• Data-driven approach: Don’t rely on broad generalizations. Use data and research to create a specific, data-driven profile that you can use for precise targeting.

2. Identify and Prioritize Target Accounts:

• Leverage tools: Utilize platforms like firmographic/technographic data platforms, intent data platforms, and your CRM to identify accounts matching your ICP.
• Prioritization is key: Don’t try to chase every lead. Prioritize accounts based on factors like potential revenue, fit with your solution, and engagement level.

3. Deep Dive and Understand Each Account:

• Go beyond the surface: Dive deep into your target accounts by gathering information on key decision-makers, organizational structure, challenges, goals, and existing vendor relationships.
• Utilize various sources: Leverage social media listening tools, website visitor tracking, and financial data providers for holistic insights.

4. Develop Personalized Campaigns and Content:

• Speak their language: Don’t use generic messaging. Create content tailored to each account’s specific needs and challenges, showcasing how your solution solves their pain points.
• Craft personalized messages: Engage key decision-makers on their preferred channels with messaging that resonates with their specific situation.
• Utilize tools: Marketing automation platforms and design tools can help create visually appealing and relevant content efficiently.

5. Implement Multi-Channel Outreach and Engagement:

• Go omnichannel: Launch targeted campaigns across various channels like email, social media, direct mail, events, and online advertising.
• Nurture relationships: Don’t just blast messages. Nurture relationships through personalized interactions and content delivery based on engagement and stage in the funnel.
• Personalization matters: Ensure your outreach feels genuine and relevant to each target account.

6. Measure and Optimize:

• Track key metrics: Monitor website traffic, engagement rates, pipeline value, and revenue generated from target accounts throughout the funnel.
• Use specific tools: ABM-specific analytics platforms can provide deeper insights and identify areas for improvement.
• Continuous improvement: Based on data and feedback, continuously refine your strategy, ensuring personalization and effective engagement.

Additional Tips:

• Teamwork is key: Establish clear roles and responsibilities for each team involved in the ABM funnel.
• Communication is crucial: Ensure seamless communication and data sharing between marketing, sales, and customer success teams.
• Start small, scale smart: Don’t try to be everywhere at once. Start small with a few high-value accounts and gradually scale as you learn and refine your approach.
• Patience is key: Be patient and committed to a long-term approach, as ABM success takes time and effort.

Remember, an ABM funnel is a dynamic process, requiring constant monitoring and adaptation. By following these steps and implementing the right tools and strategies, you can create an effective ABM campaign that drives desired results and captures high-value accounts.

What are the tools needed for an ABM funnel strategy?

There are many tools available to support different stages of your ABM funnel marketing campaign, and the best choices will depend on your specific needs and budget. Here are some categories and examples to consider:

1. Account Identification and Selection:

• Data & Intelligence Platforms: ZoomInfo, LeadGenius, Bombora, Demandbase – Identify ideal accounts and gather detailed firmographic and technographic data.
• Intent Data Platforms: Bombora, G2 Buyer Intent, Demandbase – Identify accounts actively researching solutions similar to yours.
• CRM Platforms: Salesforce, HubSpot, Microsoft Dynamics – Segment and prioritize accounts based on existing data and interactions.

2. Account Research and Insights:

• Social Media Listening Tools: Brandwatch, Sprout Social, Hootsuite – Monitor conversations and engagement around your target accounts and industry topics.
• Website Visitor Tracking Tools: Leadfeeder, Clearbit, Similarweb – Identify companies visiting your website and their level of interest.
• Financial Data Providers: Dun & Bradstreet, S&P Global Market Intelligence – Gain insights into your target accounts’ financial health and industry trends.

3. Personalized Content Creation:

• Marketing Automation Platforms: HubSpot, Marketo Engage, Pardot – Create and personalize email campaigns, landing pages, and other content based on account information.
• Design and Video Creation Tools: Canva, Adobe Creative Suite, Loom – Create visually appealing and engaging content tailored to each account.
• Content Management Systems: WordPress, Drupal, Sitecore – Manage and publish personalized content across various platforms.

4. Multi-Channel Outreach and Engagement:

• Email Marketing Platforms: HubSpot, Mailchimp, Constant Contact – Send personalized email campaigns to key decision-makers within target accounts.
• Social Media Advertising Platforms: Facebook Ads, LinkedIn Ads, Twitter Ads – Run targeted ad campaigns to reach specific individuals within your accounts.
• Direct Mail Platforms: Lob, SendGrid, Postalytics – Send personalized postcards, brochures, or other physical mailers to grab attention.

5. Measurement and Optimization:

• Marketing Analytics Platforms: Google Analytics, Adobe Analytics, Heap – Track website traffic, engagement, and conversion data across channels.
• CRM Analytics: Salesforce Einstein, HubSpot Analytics, Zoho Analytics – Track account-level engagement and pipeline progress.
• ABM-Specific Analytics Platforms: Terminus, Demandbase, RollWorks – Analyze campaign performance and identify areas for improvement.

Additional Tips:

• Consider your budget: Some tools can be expensive, so choose options that fit your budget and campaign needs.
• Integrate your tools: Choose tools that integrate well with each other to streamline workflows and data sharing.
• Get buy-in from all teams: Ensure marketing, sales, and customer success teams understand and collaborate on using the tools effectively.
• Start small and scale gradually: Don’t try to implement all tools at once. Start with a few key tools and expand as needed.

Remember, the right tools are just one part of a successful ABM strategy. A clear understanding of your target accounts, personalized messaging, and ongoing optimization are crucial for achieving your desired results.