Thanks for joining me for the very first installment of my new blog series: The ABM Playbook! Here at Jabmo, I work to ensure our global manufacturing, life sciences, and healthcare clients not only have the right technology, but also the right strategies and methodologies for ABM program success. And now, I’m bringing some of that insight to you.
On the second Thursday of each month, I go live on Jabmo’s social channels for an ABM Huddle. During these 15-minute chats, we cover all things ABM, including current trends, challenges, and best practices—all so you can get the most out of your ABM investments.
And after each chat, I’ll be recapping the highlights right here, in a brand new page from my ABM playbook.
So, without further delay, let’s get the ball rolling on page number one….
One Size Fits All? Not with ABM
Before you can find the right solution, you first have to understand the problem. After all, even the most powerful solution is ineffective if it’s not tailored to the problem at hand (kind of like when PSG put together the best front three in all of soccer, when what they actually needed was a decent midfield and defense. But, I digress).
This idea is true when it comes to ABM. What Jabmo has realized from day one—and what analysts like those at Forrester now agree with—is that every industry has its own set of marketing goals and challenges. In complex industries like manufacturing and life sciences, those needs are especially unique.
At Jabmo, we’ve spent years building and enhancing our Omnichannel ABM platform to satisfy the evolving needs of global B2B enterprises in Manufacturing and Life Sciences. In my most recent monthly ABM Huddle, I covered five major ways in which the ABM is different in Manufacturing and Life Sciences—and how these needs impact what capabilities marketers need from an ABM platform.
Here’s the highlights from my huddle:
- Manufacturing and life science companies focus on selling to existing customers more often than new customers
- Buyers, not salespeople, are in control—all thanks to digital content
- Buying groups are large and buying processes are complex
- Manufacturing and Life Sciences need greater ABM support
- Manufacturing and Life Sciences need global, regional, and local strategy
Many other verticals, like the tech space for example, focus their ABM efforts on gaining new customers. After all, they have an extremely wide market to sell to. But in Manufacturing and Life Sciences, that market is much narrower. So in these industries, companies use ABM to up-sell, cross-sell, expand relationships, and ultimately grow revenue with existing customers.
This means marketers generally already know who their top accounts are and which ones they want to target with ABM. In these cases, first-party data always trumps third-party data. First-party data, of course, is all that valuable information marketers can collect as accounts directly interact with their website, content, and marketing assets.
To really harness all this data and prioritize accounts getting ready to buy, marketers need the ABM tools to uncover who is visiting their website, what content they’re engaging with, and when/where that engagement surges. (And that’s what Jabmo provides with our Account Sensing capabilities and account-level analytics.)
If you go back 20-30 years, buying and selling in Manufacturing and Life Sciences were based on relationships. If buyers wanted to know something about a product or service, salespeople were the only source of information. In short, Sales held all the power.
Now, online vendor content has exploded, and the tables have turned. Information about a company’s offerings is readily available online. Buyers can (and prefer to) conduct their own anonymous online research, remaining unknown to salespeople throughout most of the buying journey.
This means that manufacturing and life sciences marketers need to the ability to uncover anonymous research activity on their website, as well as send targeted messaging to buyers within key accounts while they’re still unknown. IP sensing technology and IP-based advertising tools—like we offer at Jabmo—make it all possible.
Because of the complex nature sales in Manufacturing and Life Sciences, buying decisions are no longer made by one or two individuals. One-on-one meetings with prospective buyers are increasingly becoming a remnant of the past.
Now, large buying groups typically make decisions, and the process is long and complex. These groups are made up of many different stakeholders—each of whom plays a different role in the process, has a unique area of concern or interest, and consumes different types of information as they conduct online research.
Manufacturing and Life Sciences marketers need help to understand the different layers of a buying group, and then engage with each through tailored content and messaging that’s relevant to their role in the decision-making process. With the Jabmo platform, our clients deliver targeted messaging that guides every layer of the buying group through the buying journey. They can see the big picture of buying group engagement, as well drill down into specifics to ensure they’re sending the right messages at the right time.
With a myriad of product offerings and divisions, manufacturing and life sciences companies can’t have a “set it and forget it” approach to ABM. In other words, they can’t just send one message per key account and call it a day. Instead, they need many levels of messaging and a range of content, as multiple campaigns running simultaneously. These campaigns need to be continuously modified, tweaked, evaluated, analyzed, and updated to ensure success. Overall, it’s a huge workload.
That’s why companies need an ABM partner that can serve as an extension of their marketing team. With Jabmo’s managed services, our clients get guidance and support, from strategy through execution and beyond. We ensure their campaigns are operationalized and continuously optimized.
Today’s manufacturing and life sciences companies operate on a global scale.
They need to be able to create, deploy, and analyze campaigns at global, regional, and local levels. And equally important in the ability to tie data from all these campaigns together and uncover actionable insights for Sales and Marketing.
At Jabmo, we help the world’s largest manufacturing and life sciences companies reach and engage with their key accounts—no restrictions on location or language. Our platform has true global reach, while ensuring compliance with any applicable privacy regulations, like GDPR.
On top of that, the Jabmo platform provides a centralized view of all campaigns and activity. This insight across local, regional, and global efforts helps clients understand and report on their marketing performance, as well as optimize their strategies moving forward.
Bottom line: companies need an ABM solution that is tailored to their vertical. And when it comes to Manufacturing and Life Sciences, Jabmo leads the way.
Again, thanks for checking out my first ABM Playbook page. Be sure to keep an eye out for the next one!
About Jonathan Alves: As VP of Client Success & Strategy, Jonathan works with global enterprise companies to get the most of their account-based marketing investments by aligning marketing and sales teams around business outcomes and implementing proven ABM methodologies.
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