Congratulations on your successful inbound lead generation program. You’ve been generating a high volume of quality leads in a predictable pipeline. Everyone seems happy. But then, one day, your head of sales approaches you and asks if you can bring in some top customers because the leads you’ve been delivering are from medium-size companies.
How do you reach those amazing Fortune 500 enterprises?
Enter ABM. ABM has the objectives of reaching those prime accounts, boosting their conversion rates and accelerating your pipeline. Now that your ABM strategy has been running for a while, your head of sales has likely approached you again. The leads you are delivering are from key enterprise accounts, but there could still be more precision.
All leads are not created equal, even if they are all from the top key accounts. To further hone your strategy, you not only need to reach the big accounts, but you need to reach the exact people on the buying team and deliver greater insights on their engagements.
Guess what? It’s time to evolve your strategy again. Enter BGM.
BGM is an evolution of traditional ABM. It’s a much more granular, intentional, and personal approach to your communications strategy. By narrowing the field of your target from the entire account in ABM to only the specific buying team in BGM, you can deliver
a higher degree of depth and relevance that can get you more conversions and lightning-fast pipeline acceleration.
Here are some tips to get you going on a BGM strategy (hint: it’s high time for marketing and sales to cozy up):
1. Have an outbound sales process in place
If you only have an inbound sales process in place, you are not ready for ABM or BGM. An outbound sales strategy is typically the purview of companies who target enterprises, usually because it’s a more resource-intensive effort. But even if you have an outbound sales team,
make sure you aren’t applying inbound logic to define your lead dimensions and attach them to market or program types because that never works. If you rely on inbound marketing, and you don’t have your outbound sales muscle well developed, then the first step is to build the outbound sales process.
2. Start with the contacts you are already working
It may be a big journey out of your comfort zone here, but it’s time to stop reporting on marketing qualified leads (MQLs). Marketing can help sales with the conversations they are already having to boost conversion rates. This requires sharing all customer data and contacts across the teams and coordinating the touchpoints and messaging. This is a definite paradigm shift from old-school sales and marketing. In this new approach, sales and marketing are both working contacts and sharing information through the entire funnel, so there’s no need for an MQL pass-off.
3. Expand the circle to include new contacts
Once you get step one and two down, it’s time to expand your pool to include new prospects and generate leads. This involves persona definitions and research to understand who the buying groups are at your target accounts and what their needs are. In many ways, this resembles old school account planning. Work with sales to clearly define the ideal customer profile (ICP) and the prospect journey from the top of the funnel through closed deals. If the sales team vets your ICP in advance, any conversation will turn into a sales-accepted opportunity.
4. Tie yourself to the ultimate metric: revenue
Complex deals are not closed one-on-one anymore, and the credit for a deal shouldn’t be treated that way. For attribution, multiple factors contribute to a sale and to prove this out you need a multi-factor model scoring. After three to six months of implementing your BGM strategy, you’ll want to understand your outcome. Using several approaches to score how the win was achieved is your best bet.
BGM is not for everybody. It’s for companies who already use ABM in the way it was designed. If you currently employ ABM and want to get more out of it, take a fresh look at how you might make your move to BGM, and watch how this evolutionary upgrade can help your business seal more deals faster.