The EU-US Privacy Shield Invalidated: What it Means for US B2B Marketers

On July 16, 2020, Europe’s highest court struck down the EU-US Privacy Shield saying the framework does not adequately protect European users from the U.S. government’s far-reaching surveillance laws.

This decision does not impact Jabmo customers because Jabmo is a European based company and all customer personal data is processed in the EU.

The decision will force US-based marketing technology vendors that currently rely on the EU-US Privacy Shield to change their privacy policies, particularly when it comes to how and why they collect data on EU users.

For now, other EU-U.S. data transfer mechanisms, such as the Standard Contractual Clauses, remain intact BUT subject to additional, intense scrutiny by EU regulators

The U.S. Department of Commerce has announced that it will continue to enforce the Privacy Shield for current registrants while attempting to negotiate a revised data transfer framework with the EU Commission.

According to JD Supra, U.S. companies dependent on the Privacy Shield for EU-U.S. data transfers must explore other data transfer options in order to avoid illegal transfers of personal data from the EU in violation of the General Data Protection Regulation (GDPR).


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The Failure of Marketing in Manufacturing

The Failure of Marketing in Manufacturing

Historically, manufacturing revenue growth was driven by Sales, with Marketing taking a back-seat role. During the pre-digital era, sales reps drove business growth through relationship selling and Marketing supported Sales with trade shows, events, sales decks, and direct mail.

The Digital Marketing Promise. After the great recession of 2008, forward thinking manufacturers brought in a a new generation of marketers with the promise of accelerating revenue growth through digital marketing. They invested in technologies such as website content management systems, webinars, social marketing tools and “marketing automation” for email marketing and lead generation.

Customer Breakdown. Ten years later, marketing hasn’t worked out as hoped for manufacturers. Both marketing and sales teams remain frustrated. Customers are unaware of new product lines, key accounts are confused, and the CEO brand story goes unheard. Now with the virus, trade shows and events are gone. Marketing budget cuts are looming and Sales are threatening to take over Marketing’s job with new sales outreach tools.

Why did Marketing Fail? The mess was driven by the fact that both traditional and digital marketing tools such as Pardot, Marketo or Eloqua only nurture known contacts in target accounts. They fail to address the extended and unknown buying committees. Besides, email messages only kick off after contacts have filled in a web-form or reached out to a sales rep. That’s just too late in the buying cycle to make an impact because the “lead” has already self educated based on competitor information available on the internet.

We Live in a Buying Group Era. Marketing failed with both traditional and digital marketing because big B2B purchases in manufacturing are made by teams of ten or more individuals. Furthermore, most buying team members do much of their own buying research anonymously.

Marketing’s Responsibility in the Buying Group Era. Last June, Forrester declared that in today’s buying group era, it is impossible to optimize B2B marketing and sales performance that starts with lead-centric processes, technologies, and culture. They stated that marketing and sales must align systems and processes to attract, engage, and convert buying groups.

Given recent breakthroughs in account-based marketing technologies such as anonymous intent monitoring, IP-based advertising, account-data platforms, and omnichannel engagement tracking, Marketing now has the means (and the responsibility) to “skip the lead line” take back control of the buying cycle.


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Jabmo Named a Leader by Forrester in ABM Platforms

Jabmo Named a Leader in Account-Based Marketing Platforms by Independent Research Firm

Report cites Jabmo as “a best fit for manufacturers looking to skip the lead line”

June 09, 2020

AUSTIN, Texas–(BUSINESS WIRE)–Jabmo has been named a leader by Forrester Research, Inc., in “The Forrester New Wave: ABM Platforms Q2 2020” published June 9th, 2020.

Forrester found that in just a few years, the use of account-based marketing (ABM) has evolved from a trend-setting idea to a mainstream strategy.

“As we enter the digital age of buying groups, manufacturers are turning to a new generation of marketing platforms,” said Nick Heys, Founder & CEO Jabmo. “We are proud to be recognized as a Leader in the emerging market for ABM platforms.”

The Forrester evaluation included the 14 most significant providers of ABM platforms and rated Jabmo a Leader with a differentiated rating in the Product Vision, Account Selection, and Engagement Channels criteria.

Over the last couple of years, we have invested heavily in a comprehensive ABM solution including data management, intent signals, analytics, account selection, personalization, IP-advertising, and email marketing,” commented Mark Durante, Director of Engineering at Jabmo. “Our product vision is paying off well for Jabmo customers because they are getting much quicker time to value than with point-solutions.”

The report noted that customers praised Jabmo’s ability to develop ad creative and its reporting capabilities.

“Our managed services have become critical in driving ABM success because manufacturers often lack creatives, marketing analysts and ad operations resources,” said Tav Tepfer, Chief Customer Officer at Jabmo. “Furthermore, our customers are often busy integrating acquisitions and prefer to have their teams focus on ABM strategy rather than execution.”

A complimentary copy of the Forrester report is available for download here.

About Jabmo

Jabmo pioneered account-based marketing with a whole new approach to growing engagement and revenue in key accounts. With offices in EMEA and USA, Jabmo powers B2B marketing for over 50 of the world’s largest manufacturers including Waters, Worthington, and BD.

Contacts

Melanie Parker
+1 (512) 217-5219 mparker@jabmo.com


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Which ABM Platform is Best For Manufacturers?

Jabmo Named a Leader in The Forrester New Wave: ABM Platforms Q2 2020

Here are some of the highlights from the report that you can download in full here.

The Account-Based Marketing Platform Market is Maturing

Forrester found that in just a few years, the use of account-based marketing has evolved from a trend-setting idea to a mainstream strategy. Although the landscape of vendors offering solutions that can support an ABM strategy is increasing in size and complexity, users are placing a clear bet on ABM platforms that address multiple elements of the ABM process and promise quicker time-to-value than point solutions.

Breadth of Capabilities, Channels, Analytics, and Vision are Key Differentiators

The vendors who scored highest in the evaluation have the broadest capabilities. The leaders are delivering comprehensive platforms with multiple native engagement channels, deep analytics for targeting, orchestration, and reporting and a vision to help organizations make ABM and sales the center of gravity for all customer experience and engagement.

Jabmo is a Leader With a Differentiated Product Vision

The Forrester evaluation included the 14 most significant providers of ABM platforms and rated Jabmo a Leader with a differentiated rating in Product Vision, Account Selection, and Engagement Channels. Forrester found that Jabmo offers a comprehensive solution that includes IP-advertising and native email for marketing & sales.

A Comprehensive Solution for ABM

Jabmo offers a comprehensive solution that includes native email for marketing and sales. Since our first evaluation in 2018, Jabmo has added to its existing account selection, personalization, and advertising capabilities with native marketing automation functionality. The company also strengthened its data management and reporting functionality.

Digital Display Advertising and Native Email Marketing

Forrester noted that Digital advertising is now as fundamental to ABM as email is to marketing automation. The Forrester evaluation found that Jabmo has added to its existing account selection, personalization, and advertising capabilities with native marketing automation functionality. The company also strengthened its data management and reporting functionality.

Strengthened Analytics and Reporting

Forrester found that Jabmo has also strengthened its data management and reporting functionality. “Jabmo’s reporting is really good. It took us a while to interpret all the data in all the reports available to us, but they helped us get there.” -Jabmo customer reference call quote.

Jabmo is a Best Fit for Manufacturers

Forrester cited Jabmo as a best fit for manufacturers looking to skip the lead line. Like underdeveloped countries skipping landlines to go straight to wireless telecom infrastructure, manufacturers that have not yet invested in a lead-centric marketing platform can go straight to an ABM platform that complements and amplifies their traditional account-centric sales motions.

Managed Services

Customers praised Jabmo’s ability to develop ad creative and its reporting capabilities. “Jabmo’s creative team is great. They’ve been able to run with our brand book and deliver effective ads.” -Jabmo customer reference call quote.

Download a Complimentary Copy of the Full Forrester Report Here

Jabmo Forrester Leader


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She’s Lost Control.

And she screamed out kicking on her side and said,
I’ve lost control again.
And seized up on the floor, I thought she’d die.
She said I’ve lost control
She’s Lost Control, Joy Division

Prior to the virus, a growing problem for manufacturing marketing leaders was helping their key account sales reps regain control of their customer buying cycles. This problem is caused by buying groups doing their own research online anonymously prior to talking to their sales rep.

Loss of control is a big problem to solve when a manufacturer spends 25% of its total budget on Sales & Marketing. The virus just made that problem even worse with cancelled trade shows, events and face-to-face meetings.

In the pre-digital days, sales reps controlled most of the buying cycle. Then when B2B buyers started doing their own research online, marketing responded with websites, gated content, webinars, SEO, email marketing, and social media marketing. Those early digital lead generation tactics may have worked for companies targeting mid-size accounts with small buying committees, however when targeting large accounts with big buying committees, it was rarely successful.

Global manufacturers never really embraced the first wave of digital marketing because marketing automation systems were lead centric, not account centric. This drove misalignment because manufacturing salespeople are not interested in 99% of marketing automation leads. The failure of lead generation digital marketing is the primary reason why manufacturers held back on digital transformation and invested more on analog marketing like trade shows, events, trade publications, sponsorships and cold calling.

With recent technology breakthroughs in account-based marketing such as IP based ad targeting, anonymous intent tracking, and machine learning, a digital golden age has emerged for manufacturing marketers. This is an opportunity to take control of key account buying cycles and make marketing matter again.  Now is the time to re-align with sales to educate your buyers and lead them to your solution. If you don’t, your competitors will.

We work with hundreds of visionary manufacturing and technology marketing leaders who have adopted these new account-based marketing technologies and disciplines. For example, Henkel marketing teams grows key accounts with an insightsdriven ABM approachWorthington help drive sales growth in new verticals with IP-based ads, and MilliporeSigma cultivate key account growth with ABM. All of these pioneers have stepped out of their comfort zones to give their business a competitive advantage. 

Today, in the digital buying group era, account-based marketing has become crucial. Marketers that wait too long to adapt will become extinct.

By Nick Heys, Founder & CEO Jabmo.


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Gartner

Get hard-to-find insights and advice to plan, manage and execute a winning marketing strategy from Gartner for Marketing Leaders.

Read Articles Here


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ABM & WFH.

By Mark Durante, Director of Engineering at Jabmo

Written while working from home in Paris, France

Updated May 6th, 2020

Over the last couple of months, we watched the COVID-19 pandemic change the way companies buy and sell around the world. Trade shows, events and travel were abruptly cancelled, and companies asked many of their employees to work from home (WFH).

Given that marketers suddenly felt unable to engage and educate their key accounts with the usual “analog” sales and marketing channels, our company experienced a spike in interest in our IP-based target account advertising solutions.  One of the questions we heard is “if our key accounts are working from home, how will they see our account-based display advertising and how will we know that it works?”.

With over 4 months of “before and after” data now available, I thought it may be useful to share the aggregate marketing engagement data from over 50 global manufacturers and technology companies that used the Jabmo ABM Platform from January through April 2020.

As you can see from this chart below, Account-based IP advertising continued to perform well throughout March and April 2020. In fact, our customers even experienced an increase in their advertising engagement, possibly driven by the fact that target account buying teams had more time to do their research online.

The reason that IP-based account-based advertising continues to perform well while employees work from home is due to the fact that most big companies require their employees to use corporate VPNs. These corporate VPNs use the official corporate IP addresses for consuming content (including websites and advertising) while working online. Without proper protection, employees connected to a business’ network from home may be putting corporate information at risk. This is because accessing the internet over a completely public network—i.e., through a home internet service provider (ISP)—exposes devices and online activity to bad actors.

Marketers that focus their ABM programs on smaller accounts probably experienced a negative impact due to lower VPN use in SMB’s. Luckily, global enterprise manufacturers and tech companies tend to focus their ABM programs on large existing accounts with a high level of VPN usage.

Looking at this data and the surge in interest we have seen in ABM over the last few weeks, I think most enterprise marketers will come out of this pandemic stronger -through an accelerated transformation of their marketing and sales practices.

Mark


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The 80/20 Rule in Account-Based Marketing.

We’ve all heard variations on the Pareto principal. 80% of your results come from 20% of the effort. 80% of sales come from 20% of your customers. You get 80% of your marketing engagement from 20% of your accounts.

The Virus has forced most of us to review our sales and marketing budget allocation. Now is a really good time to rethink our target account strategies with a goal to getting a strong return on marketing spend in 2020.

Last year, a Forrester survey of over 120 global B2B marketers showed that the majority focus their account-based marketing (ABM) on fewer than 99 accounts. That focused effort is driving more measurable impact. The majority of responders that saw a positive impact chose ABM to deepen relationships and expand business opportunities with existing accounts rather than net new accounts.

Gartner released a research report last week showing that CMOs are adapting to the Covid-19 pandemic by reducing or even halting lead generation efforts in order to prioritize closing late stage deals and strengthening relationships with current customers.

Over the last year, we have noticed that the most profitable ABM programs focus on existing accounts using first party anonymous buying intent data to prioritize. This leads to a dramatic increase in engagement and sales impact. If you are interested in reading some real-life ABM success stories, check them out here at Jabmo.


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COVID-19

Written from confinement in Paris, France

By Nick Heys, March 19th, 2020.

The COVID-19 pandemic has derailed lives around the world. When this is all over, the world will be a very different place.

Today, B2B marketers and sales professionals are facing an unprecedented challenge. Last week, I talked with the VP marketing of a leading global manufacturer who complained that all of their trade shows had been cancelled, representing over a third of their total marketing budget. Furthermore, their sales teams are suffering from a travel ban and losing the customer touch points that they had relied upon for decades.

I asked the VP marketing why they were still so reliant on trade shows, events and face-to face meetings now that we live in the digital age. He shrugged and said that this is the way they always done it and that their sales reps love schmoozing customers face-to-face. He was well aware that modern digital marketing alternatives were available, but they kept on doing “analog marketing” out of habit.

Habits are hard to break because they are deeply wired, by constant repetition, into our brains and company cultures. Habits are also patterns of behavior and it is the breaking of patterns that is the key to breaking the habits themselves. But these patterns are also usually wrapped in larger ones: This is where routines come to run our lives. Overall these routine behaviors make our lives easier. They keep us from having to reinvent the wheel of our daily lives by making an infinite number of decisions all day long, which in turn provides us with more brain-space to think about other things. The downside of these routinized patterns comes when they produce diminishing returns.

Manufacturers are often referred to as “digital laggards”. Last Summer I discussed this with Steve Casey, principal analyst for B2B marketing at Forrester. He told me that manufacturers may have missed the marketing automation movement over the last 10 years, but account-based marketing represents an opportunity for them to make a “great leap forward” and catch up with the more advanced verticals such as technology or financial services.

Manufacturers needed something to break their old habits. I believe that COVID-19 is the Black Swan that just did it. This is the turning point for the digital transformation of B2B marketing in manufacturing. This is why we have just seen a sudden surge in interest for Account-Based Marketing (ABM) solutions at Jabmo.

A 2018 study by the Center for Exhibition Industry Research revealed that B2B marketers who participate in industry events earmarked almost 40% of their budget to exhibitions and trade shows. In the manufacturing industry alone, this represents billions of dollars that will be spent on modern digital marketing methods such as account-based advertising and ABM platforms.

When this crisis is over, we will look back and view this event as the driver of the great leap forward in B2B digital marketing.

Nick Heys is a marketing technology entrepreneur and the Founder of Jabmo.


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