Transcript of ABM 101 Course Introduction
The Healthtech Marketing Show
0:02hello and welcome to the ABM 101 course0:05I'm really delighted you're0:07here let me go through what we're going0:10to be covering in this particular class0:12so this class is part of the ABM 1010:17course so in this introduction I'm going0:20to go through a little bit about the0:21course structure a bit about me and then0:24we'll dive into why ABM in the rest of0:27the ABM 101 course we're going to review0:30the seven PR basic principles of ABM0:33I've split that up actually into two0:35classes because there's quite a lot to0:37go0:38through um we'll then also go have a0:41class on how to get started with ABM so0:44this will be actually how help you get0:46started in designing an ABM0:49pilot now this ABM class course rather0:54is part of a five-part ABM program so0:59part one class course one is the ABM 1011:03course and then we have four courses1:06that will actually help you start to1:08develop a1:09strategy putting it put ABM into action1:12in helping you acquire new customers put1:15ABM into action in growing your existing1:19customers and then and scale then finish1:22with a course on how to scale and grow1:26ABM across your organization and those1:29courses1:30um as those courses become available1:32you'll be1:35notified um at the end of this1:37particular course at the ABM 101 course1:40you're going to get a lot of different1:42assets that you can start putting into1:45action so you're going to get all four1:47all four uh uh course presentations the1:50presentations from each one of these1:52four classes um you're going to get the1:54total customer growth framework I'm1:57going to explain total customer growth1:59as we go through the course and then2:01you're going to get a load of tools and2:04templates to help you get started with2:07ABM this course is designed to help you2:11understand the concepts but really get2:12moving into action with2:15ABM so the learning objectives of2:18today's class is three-fold first of all2:22we want to help you I want to help you2:24understand why ABM is such an important2:28strategy to master how can help you and2:31to do that I'm going to have to dive2:33into sort of why B2B marketing is so2:36hard and why it doesn't quite work as2:38well as it really should do and maybe as2:41well as it used to do and then last but2:44not least I'm going to help you2:46understand what ABM is and why it2:50works okay so before I get going I want2:54to tell you a little bit about me so um2:59I uh I'm I do I have two hats currently3:04um I'm the CEO of a company called3:06Health Launchpad this is an ABM3:09specialist consultancy that focuses3:12exclusively on the health care sector3:15I'm also the CEO of an organization3:18called total customer growth this is a3:20whole bunch of things first of all it's3:23an ABM consultancy for non-healthcare3:25Business Financial Services technology3:27Etc it's also a Collective of3:31Consultants who specialize in in3:33ABM um before I founded these two3:37companies I was the CEO and founder uh3:40of a technology company a healthc care3:43technology company called UniFi health3:46and this is where I really started to3:49understand the value of ABM I used it in3:53growing that company in two ways I used3:55it to help acquire customers and then in3:59the l in the sort of Latter stages of4:02the company before we sold the company4:03to a bigger4:05organizations use we used ABM practices4:08to dramatically grow our existing4:11customer base and um throughout the4:14courses you're going to learn more about4:16how you can do the same thing with ABM4:19now prior to this uh my my4:23entrepreneurial journey I spent over4:25three decades in the marketing services4:29and consultancy world I was an executive4:32at several agencies where I had the4:34privilege of working with um big clients4:37like IBM compact Dell to name but a few4:41Bank of4:42America um and um I I then later on4:48gained a lot of health care experience4:50when I have had my software company so4:52in addition in addition to being an4:55entrepreneur I'm also an author a4:57podcaster and I'm an ABM evangelist you5:00can connect to me or follow me on5:02LinkedIn um if you look if you if you go5:05on LinkedIn and search for Adam Chinas I5:07think I'm the only one that's the only5:09Adam trinus and you can follow me and5:12you'll see you know what I post daily5:14about B2B marketing and particularly5:16about5:18ABM okay so let's get on with the5:21course first of all I'm GNA start this5:23big question and this is what really5:26most of the rest of this particular5:27classes is why ABM is so5:32important we did a survey in our company5:35uh uh late last year where we into where5:39we um ped um healthc care sales and5:44marketing5:46Executives 90% of them said that B2B5:50sales and marketing is getting5:53harder and when we5:55interview uh people from the you know5:58sales and marketing professionals from6:00any industry we hear five key themes we6:03call these the five C's so first ofly6:07first of6:07all um sales Cycles are getting6:10increasingly complex and typically much6:14longer um part of this is driven by6:16number two which is that buying groups6:20so the groups who are involved in the6:21decision about which vendors go with are6:25getting larger and and they make6:27decisions increasingly by cons ensus the6:30third factor is as I'm sure you all6:32experience is compliance both around new6:36legislations or around cyber security6:39really slow down the decision-making6:42process the the the the fourth reason um6:48is oops6:52sorry is that competitive choice is6:55becoming6:57overwhelming and one of the things that6:59that concerns me is that with AI the7:02barriers to entry are going to get lower7:05and lower and so particularly in7:07software we I I believe that comp7:10competitive intensity is going to get7:13even worse in the coming coming years7:15the last issue and the last C is the one7:18I probably want to spend the most time7:20on and that is that the buyers have7:22greater control and the reason is is7:25that the internet makes it so much7:28easier for them to manage the process7:31and gather information on their own so7:34this is a piece of research done by7:36Gartner and what it shows is where7:39buying groups spend their time over a7:42buying o over a buying cycle and the7:45depressing thing is they only spend 177%7:49of their time actually speaking with7:51potential suppliers and vendors the rest7:54of the time is spent doing research on7:56their own or talking amongst themselves7:59M elves so that is so as a marketer the8:02biggest challenge is how do you engage8:05with them when they're in that 83% of8:07the time not Enga not talking directly8:10to you or your8:13competitors now the good news is that8:16buyers do actually need help the8:18downside is they don't engage with you8:20until too late so what this slide shows8:24is a couple of things and this was done8:26this is based on some research Arch uh8:30conducted by a group called com um uh8:33the corporate executive board which is a8:36part of of Gartner what they did was8:39they interviewed buying groups across8:43multiple Industries um and they talked8:46to thousands of of different B2B buyers8:50and what they found is that buyers Buy8:53in three phases first of all they spend8:56a lot of time as a buying group defining8:58the problem they then spend an awful lot9:02of time def def defining how they're9:05going to solve the problem what are the9:07options that they have to solve it it's9:10only later in the in the in the um9:13decision making that they actually9:15engage with Buyers now the interesting9:18thing to me is that when you ask them9:21how hard is each9:23step the the the step of defining the9:27problem is somewhat hard the hardest9:29point and frankly where they need the9:31most help and the most information is9:33actually figuring out what solutions9:36they should be considering and this is9:38where I I feel as a B2B marketer is9:41where we can make the greatest impact9:43the problem is they don't we don't9:47typically engage B2B vendors until much9:50later in the process in fact what they9:53found was that 50%9:5657% of buyers have already is decided on10:00a vendor by the time they reach out to10:02anyone else pretty depressing I think10:05you I think you'll10:06agree now not surprisingly when you ask10:10marketers what is the most what is the10:13biggest challenge that they have and10:15this is a recent piece of re research10:18done in10:192023 when you ask them what are the10:21biggest challenges that they face over10:23the next three years the number one10:26challenge is identify in and engaging10:30the right B2B10:33buyers and um I I want to break down one10:38of the reasons why I think that's the10:40case and this is what I call the 55710:44problem so bear with me as I explain10:48this in any given10:50Market um buyers tend to renew their10:55technology their software or the service10:58companies that they work with kind of on11:00average every five years sometimes it's11:03longer sometimes it's a bit short less11:05than five years but typically on average11:08every five years so if you think about11:10that what that means is that if you've11:13got a total available Market 100% of11:16your available Market only11:2020% of that market of those V of those11:23accounts would be in Market in in any11:26given year and in any given given C11:30it's only 5% so a quarter of 20% are in11:34market so that means in any given year11:37only 5% of your accounts will actually11:40be in11:41market now you may have heard of this11:43it's called the five 595 problem I think11:47it's worse than that because if you go11:49back to the statist the stat that I put11:51up on the previous slide which showed11:53that 57% of buyers have already made a11:56decision by the time they engage with11:58you that means that in reality it's12:00really only 57% at 5% which is 2% of12:06your total available Market is actually12:09in Market at any time so that means that12:1298% of your total available Market is12:16not going to be listening to what your12:18Market is not going to be open to12:20hearing your marketing and and and want12:24to actually engage with12:26you um and you know to make it even more12:30depressing if you think about you know12:32what sort of typical a typical B2B12:35marketing and Communications plan looks12:38like um it's actually depressingly12:41wasteful so PR will you know you'll try12:44and get that to focus on your available12:46Market but it leaks outside you can12:48Target your linked into your to to12:51specific accounts but you don't know12:53which ones are actually in Market your12:55sdrs may be calling off cold lists so12:58the chance are that most of who they're13:00calling are not remotely interesting and13:02certainly the conversion rates would13:04suggest that it's the same with events13:06and webinars it's the same with13:07syndicated content and PPC is a bit more13:10focused in terms of how it how it13:13actually um uh you know how how it uh13:17how it actually reaches your audience13:19and it's even harder because it can take13:21as many as 25 touches to make a sale so13:26the depressing thing is that most the13:29sort of traditional B2B marketing13:32approach is pretty inefficient and13:35pretty13:36wasteful now ABM is a key part of the13:40answer of how you can actually develop a13:42better process so ABM is about several13:46things and I like to think of it as sort13:48of you know at a high level it's really13:50about pinpointing who is in Market13:53finding them earlier in their buying13:55process using content and other tactics13:58ICS designed to help them in their14:00buying process so basically and I'll14:04come on to this in the ABM principles14:06it's selling marketing to them in the14:08way that they14:10buy um the fourth aspect is it's about14:13engaging them through personalized14:15experience customization and14:17personalization is very important ABM14:20and last but not least it's about14:22creating a longterm customer growth14:25system and I'm going to talk about that14:27as we as we explore this notion of total14:30customer growth but think of it as14:32you're going to reinvent the way that14:35you as an organization market and sell14:37to customers so that you can win and14:40grow C profitable customers for for life14:45so I I want to close with a couple of14:47things so one of the questions that14:49comes up is you know does ABM work and14:51this is a very important question14:53because ABM is not easy it's one of the14:57toughest transitions to go go through14:59from a from a marketing perspective and15:01I think many many many people fail with15:04it and struggle with it the the first15:05couple of times they try it and so it's15:08worth exploring why it's worth sticking15:11at it um there's a great organization15:14called itsma that is uh primarily a15:18research organization and they've been15:21studying the the a ABM for um for a15:26decade or so now and um they they15:30conduct an annual benchmarking study and15:33this is from their most recent study and15:36this is it's it's a study done across15:38several hundred ABM15:40practitioners and they ask them what is15:43the business impact of ABM and what they15:47found is that 90% of ABM practitioners15:50say they get active engagement with15:52selected accounts 84% say it contributes15:57to pipeline growth 77% say that's16:00Revenue growth16:0272% nearly three quarters say that ABM16:06delivers a higher Roi than other16:09marketing types and then 2third say that16:13um ABM is a contributor in improving the16:17alignment between sales and marketing16:20okay so that's the that's coming to the16:22end of this class what we're going to16:24cover in part two and also part three as16:28well the uh the second and third classes16:31of this course are the basic principles16:33of ABM so in summary let me tell you16:36what those principles are ABM is uh16:39principle number one is about finding16:41best fit customers principle number two16:44is it's about looking for in-market16:47prospects it's about marketing to to16:50these prospects the way that customers16:53buy it's about using three different16:56flavors of ABM it's about using using16:58personalization to get personal and17:01engaged with these C customers it's also17:04you're going to need to develop a new17:06set of measures that are ABM Centric and17:10last but not least is that essential17:12alignment between sales and marketing so17:16um I uh I'll look forward to seeing you17:18in the next class just one last thing17:20though before we before we break for17:24this particular class I do want to tell17:26you about something I actually want to17:28give you an offer um I published a book17:31um this year called total customer17:34growth it's available on Amazon and it17:36cost17:37$15 uh on Amazon but I actually want to17:40offer offer it to you for free all you17:43need to do is actually pay 3.92 so maybe17:46not free but you know $10 off all you17:49need to do is go to total customer.com17:52total17:54customer.com and you can um fill out the17:57shipping form and I you'll get a copy of18:00of the book in the next week um the book18:04is divided up into four parts uh it goes18:07into a lot of depth about the Strategic18:09foundations of total customer growth and18:13it talks about how you can put ABM into18:16action so I'm going to be teaching a lot18:17of this in this course but you can get18:20in the uh next courses that I'm that I'm18:22going to be rolling out but you can um18:25you can get a jump start on that by by18:27reading this book and it also talks18:29about ABM to ABX and then getting moving18:32and scaling the reviews have been really18:35uh really positive uh Charles canu is a18:38great entrepreneur and he called it a18:40rock solid ABM Bible um Drew niser is um18:46a real Guru in B2B marketing and I was I18:48felt so privileged to get this review18:51from him where he uh he praised it for18:53being a fresh take on ABM so if you want18:57to get your free cop18:59go to Total customer growth.com okay so19:03that's the end of this course of this19:05class rather uh and I'll look forward to19:08seeing you on the next class where we'll19:10start to explore the principles of ABM
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