MythBusters: ABM Edition (Part 1)

Reader beware: This article will not support your decision to buy any shiny new software.  It won’t make you feel good about the way you are “running” ABM. It may even damage your self-esteem, just a little bit.

Why bother reading this at all?

Simple! This is the first edition in a three-part series breaking down ten very common misconceptions about ABM.  It might hurt to hear, but it will save you time, energy, and heartache in the long run. Ready to dive in and bust through some myths?


Myth #1: We are Already Running ABM

Account-Based-Already Think I have it

Contrary to popular belief, personalization is not equivalent to “running ABM”. Often the concepts of targeted demand generation and ABM get confused due to their similar customization aspects.

Demand generation consists of acquiring as many leads as possible and releasing generic content relatable to everyone. ABM has limited targets that hold a higher value and receive custom content. Somewhere in between these two strategies are targeted demand generation, which utilizes the customization tools of ABM and applies them to narrow down leads.

With that in mind, analyze what your organization is doing currently. Are you positive it’s ABM in its entirety? Or is more of a targeted demand generation? More than likely you have implemented a hybrid strategy that needs a little TLC before it grows into ABM.


Myth #2: I Need a Pilot Program

Pilot programs are a suggestion, not a requirement When starting ABM, extensive planning is done to prepare, a process many organizations find to be interminably slow. Pilot programs have a reputation for getting ideas to market at a quicker pace. Unfortunately, that is not always true.

These programs offer process development, strategy refinement, education, and training. They build bulk yes, but not always speed. The precise structure is not a necessity because you can dive right in and learn as you go. The adaptive learning route gets ABM running at a quicker pace without the intensive building beforehand.

Generally, with a high-level skill and organization, all of the preparation can be done without assistance from a pilot program. It truly goes case by case though—some people can benefit pilot program while others can succeed just as quickly without.


Myth #3: I Need a Tech Stack

When we say tech stack, we’re assuming you have the two components imperative to running successful marketing: an automation and Customer Relationship Management (CRM) systems.

With the emergence of a new technology, many marketers get caught up in “Shiny Object Syndrome” or the irresistible urge to buy first and evaluate later. Regardless of what the labels tell you, these fancy tools are captivating but not required for implementing ABM.

Although not mandatory, technology can help enhance the strategies and programs when applied appropriately. After learning how to use the systems and seeing how beneficial they can be, then make the purchase. Many people do this backwards, which is unhelpful and costly.  So, be sure to evaluate before spending.


 

We know there is a lot of information out there about ABM, be sure to check out part 2 where we explore Myths #4-#6!  Get the latest information on ABM by subscribing to our Best Practices.

ABM Myth

Want more? Here's some related content

marketo_wait_steps_hidden_dangers

Marketo Wait Steps: Beware of These Hidden Dangers!

[Insert final Jeopardy music here] How many times in a day do you look at...
mafails_kim_featured-01

#MAfails: New to Marketing Automation and Looking With Your Eyes Shut

My most memorable fail in the marketing automation world happened when I was still pretty...
optimism_effect_Featured

Do You Have It? Thoughts on the "Optimism Effect"

I often wonder: is optimism an inherent, or learned skill? I hope it can be...
growth

The Two Things Your Business Must Have to Grow

When I graduated from college way back when (can a little more than a decade...
lol the man laughs humor reaction Joker retro style

GDPR is a Funny Four-Letter Word

A little humor to ease the pain... Happy GDPR Day! Email inboxes everywhere rejoice as "the...
Diary entry for GDPR on 25 May 2018 with reminder sticky note

Marketing’s Vital Role in GDPR Compliance

As the deadline to become GDPR compliant approaches, forward-thinking marketers are taking steps to identify at-risk...
FearlessModernMarketingCatMeme

Challenge Your Assumptions: A Guide for the Fearless Marketer

My Take on Ann Handley’s Session at the Marketo Summit: “Challenge Your Assumptions: A Guide...
Adrath-3

Courageous Tech Marketers Grow CLV by Keeping Customers for Life

My Thoughts on Adrath Albee’s Marketo Summit Session: “Courageous Tech Marketers Grow CLV by Keeping...