What's Old Is New Again... Account-Based Marketing: Nipul Chokshi of Lattice Engines on Marketing Smarts [Podcast]. Everyone seems to be talking about account-based marketing (ABM) as a new approach for strategically targeting your marketing efforts. Nipul Chokshi says it is. He's senior director of product marketing at predictive analytics company Lattice Engines. I invited Nipul to Marketing Smarts to discuss account-based marketing: what it is, how it works, and how your company can scale this approach, and revenue, by focusing your marketing on certain key accounts. It's all about helping marketers be a lot more personalized in terms of their marketing so that they can be more effective." Based on that, What are the messages and offers that I need to create? Don't toss your personas, but do make them more effective with data (08:18): "Personas are more relevant than ever. The way that we approach personas...there's an ideal customer profile, and there are two components to that. There's the company-level persona, which is traditionally like if you go ask a sales guy, 'What kind of companies do you typically sell to...' that's kind of like a company-level persona.
Everyone seems to be talking about account-based marketing (ABM) as a new approach for strategically targeting your marketing efforts. ABM might be the next big thing, but it’s not technically new: B2B sales teams have been targeting key accounts for years, giving their hottest prospects special attention in order to close the deal.
But is that approach scalable in the era of content strategy and inbound marketing?
Nipul Chokshi says it is. He’s senior director of product marketing at predictive analytics company Lattice Engines. Previously, he built and ran the solutions marketing and sales enablement functions at Yammer (acquired by Microsoft in 2012); before that, heled product marketing at Marketo.
I invited Nipul to Marketing Smarts to discuss account-based marketing: what it is, how it works, and how your company can scale this approach, and revenue, by focusing your marketing on certain key accounts.
Here are just a few highlights from my conversation with Nipul:
Account-based marketing isn’t actually new (but it is newly scalable) (04:34): “Account-based marketing has been around…since the nineties. Typically, it was an effort that was reserved for your top 10 or top 50 accounts, but now, with the advent of Big Data processing, with marketing moving more and more online, with companies having more and more access to that digital footprint that prospects area leaving out on the Internet, there’s an opportunity for marketers to be able to scale that effort beyond your top 10 or top 50 accounts. You can even do it to thousands. We have one customer…that’s doing [it] across 500,000 accounts. It’s all about helping marketers be a lot more personalized in terms of their marketing so that they can be more effective.”
Account-based marketing can keep you from wasting resources on the 99% of leads that will never pan out (07:24): “1% of all leads turn into…
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