Transcript
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Welcome back to BBB growth. I'm Dan
Sanchez with Sweet Fish Media. And
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today I'm excited to wrap up this
account based marketing deep dive I've
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been doing over the last month. This is
the finale. This is the summary. This
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is the conclusion. Um, it's been an
exciting month. I'm a BTC market are
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coming into B two b. I have a lot to
learn. And even though I've had a
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decade of experience doing all kinds of
digital marketing campaigns for a wide
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variety of different types of companies
and organizations, I still have a lot
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to learn. And B two B and A B M was
kind of like the first big place that I
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wanted to, like go really, really deep
into. So we set aside the whole month
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of February to go deep, talked to
practitioners, thought leaders review
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resources, have internal conversations
benchmark what I was learning along the
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way and solo episodes and 28 or maybe
27 episodes later, I'm finally at the
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point where I'm like, Wow, Deng, I've
learned some stuff about account based
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marketing, and I can't wait. I've been
sharing with you guys along the way, so
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go back and watch solo episodes. I
won't be repeating all that content
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here again, but I just kind of wanted
to summarize the whole thing as far as
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what a. B M is who it's for, uh, when
you should start it. If you're
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interested and generally like how I
would start now knowing what I know now,
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it's been a fantastic month diving deep
into the subject I'm actually kind of
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after reading all the books on the
topic, I'm kind of like done, you know,
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like I'm gonna start, I need to stop
learning and actually just start doing.
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And while I've been working on it this
whole time, um, I'm excited just to
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dump in roll, jump in, roll up my
sleeves and actually start to do some
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of the work of what I've learned over
this last month. But let's dive into
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what A. B M actually is. Contrary to
some popular opinions out there, a B M
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is not synonymous for good marketing. A
B M is a distinct methodology that
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works specifically for BTG, but even
btg companies, and it doesn't for work
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for everybody, even within those two
categories. Um, I've certainly heard
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arguments that it could work for
everybody in B two b or B d G. But
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there are some parameters for where it
works best. And then once I define the
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parameters, I'll get into what it
actually looks like. So a B M actually
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works best for B two B or B two G
companies that are selling high ticket
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items, uh, things that cost, at least
in the tens of thousands of dollars a
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year. Um, you could probably make it
work for a little bit less, but not
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would be much harder. Um, and it's if
you're so. If you have a product or
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service where someone is paying you in
the tens of thousands of dollars for it
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in a year within the year than a B M is
absolutely worth exploring, it is
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fantastic. It's probably the most
effective means of doing marketing that
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I've ever seen, and it's distinctly
different from other marketing
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methodologies. It's different from
target marketing. It's different from
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demand generation. It's different from
inbound. Marketing is different from
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lead generation, and this is why it's
different because most approaches
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target a specific segment of people,
and you can get down to make it a
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really narrow segment, right? As a B
two b company, you have your I c p your
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ideal customer profile, right? You know
exactly what kind of companies are
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going to be your ideal fit are your
ideal customer, but it's very different
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from going to defining what they're
like to defining who, exactly? You they
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are right. It's a very different
approach. And once you actually make a
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clear distinction of which specific
companies by name that you want to do
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work with it changes the methodology
that you market to them. Before you
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were targeting in Mass, you didn't know
who they were. You didn't know their
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names. You did as they came inbound and
they filled out forms. Or maybe you had
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a fancy analytic software, went and
found their name or whatever, but until
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then, you didn't know them. But an
account based marketing. You're
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actually calling them out by name and
saying these are the ones we're going
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to market to, which changes everything.
And this is one of the most exciting
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parts about being a B two B marketers.
You have so much more information to
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work with. So Why wouldn't you use that
information to your advantage? And you
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can use that information to your
advantage in a few different ways, and
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it changes things right. If you know
exactly who you want to target, you can
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get a much better ry from your ad spend
because you no longer have to target
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all the people who aren't in your ideal
customer profile. You no longer have to
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target people who are outside of the
102 100 maybe up to 1000. Of course,
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you could do more companies that are
the exact companies you want to do
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business with in Facebook ads. I'm used
to running campaigns to the hundreds of
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thousands. Shoot Facebook recommends
you target between one and two million
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people at least, and their algorithms
are really good at finding the few
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people to show ads to within those
millions. But doesn't it change the
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game if I. Instead, I run a LinkedIn
campaign where I upload the names of
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the 100 companies. I would love to show
ads, too. Now I'm only running ads to
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10,000 people. The 10,000 people
working for the 100 companies that I
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would love to do business with. That is
totally different change. That's a
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different way of marketing before,
before I can make a really narrow
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target, even with linked in. But now
just running ads directly to the ones I
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want to do business for is different.
My direct mails different the way I
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engage and create content for these
companies are different the way I'm
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actually working more hand in hand with
sales, because this is the way they
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were doing it the whole time. In fact,
a B M actually comes out of the Sails
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playbook. This is the way sales have
been doing it for decades. It's just
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that marketing is finally getting on
the train. Marketing is finally coming
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alongside sales to do the kind of work
that sales is doing. But from a
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marketing angle that's account based
marketing. And it is a fantastic
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approach. It's an approach that I will
recommend over and over and over again
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if you fit the parameters that I
outlined earlier. A few other reasons
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that I love it is because it focuses
your time so that the time spent
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engaging with companies is spent. Time
is time spent engaging with the right
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companies.
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Now 90% of your engagement is with the
right companies, even if the ones are
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coming inbound or brand, um, companies
just showing up, filling out your
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contact for them. You can check to see
if they're on your you know your list
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or if they even fit your I C p and just
kind of like show them to some free
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resources and not spend time wasted
with them. Because you know they're not
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on your account list, right? It just
frees you up to focus on the ones that
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are going to make the biggest
difference for your company. It's also
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a huge, huge piece that makes it a lot
easier to get aligned with sales
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because now you're doing what I think.
They also wanted B two B marketers to
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do the whole time, which will help them
land the accounts that are going to
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make them the biggest commissions,
right, cause that's what they're
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motivated by. It makes the handoff a
lot smoother, as they go from as a lead
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or an account. Moves are marketing to
sales right because they were in
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agreement the whole time, as far as
what accounts those were supposed to be.
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So it's a much smoother handoff between
the two. It makes the whole company
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more successful. You spend all your
time and only the accounts that are
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going to produce results or the ones
that are already but the best fits and
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no time on the ones that didn't matter,
which is what most of us are wasting
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our ad dollars and even our our time
spent marketing, too, in the hopes that
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we can draw out of the many, get the
few to show up. So if you've been
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following along for this month or
you're listening to this now and
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thinking like, Hey, Dan, I've heard
enough, I want to get started What's
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the best way to get started with
account based marketing? And I would
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say, if you've liked what you've heard
so far, definitely go and start with a
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book called the the Book on account
based Marketing by bus. Um, Hamdi. It's
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probably my favorite go to now for
getting people started in account based
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marketing has nothing to do with
technology and all the things that
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people want to sell you regarding
account based marketing just kind of
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paints a picture of what it should look
like using tactics that were early two
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thousands, right? But it's such a sweet
and simple book like You can listen to
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it an hour and a half if you listen to
it on two X speed on audible, go and
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pick it up. It's a fantastic primer on
what this looks like. And I would say
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Go and talk to your sales teams about
who their top accounts are, and I would
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try to narrow it down to like doing a
test. You want to run a pilot. You want
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to run a test to see if it's gonna work
with you if it's gonna work with sales.
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So go talk to your sales team and ask
them like a we're gonna try an example
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Experiment campaign account based
marketing campaign. What 10 accounts
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would you like to see? Move forward?
And I would recommend that their
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accounts that, um, maybe they know
about your company, but they're not in
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the pipeline yet. Maybe they're just
kind of like the awareness stage, so
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you can kind of walk through the whole
process. It is possible to pick out
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accounts that are in the pipeline or
that are specific segments or whatever
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have different objectives you can meet.
But I would try ones that are at the
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very beginning stages of the funnel. Or
maybe not even in in your marketing
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funnel at all. Yet pick out 10
customers that you want to do this with.
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Of course, you can do more. You could
probably do. Yeah, last but tens. Kind
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of like an easy and easy experiment.
Now, the amount of work to do a pilot
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can be significant if you're at an
enterprise. Look, if you're in a big
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company with a big market department,
you've got marketing ops. You've got
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sales, you've got sales office. You
have like that. Okay, they're doing a
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pilot is going to be freaking intense.
And if you're going to, if you're that
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kind of company, then I highly
recommend the book called account Based
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Marketing. How to target and engage the
companies that will grow your revenue.
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Um, by Chris Golic, Peter Isaacson and
Jessica Fuel is this is the book by
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demand base. And they wrote the best
book on how to build a pilot for a big
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company. Um, because even doing even
doing a small pilot is a big initiative.
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When you have a big team, right, it's
hard to turn an aircraft carrier, so
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you have to turn it very carefully,
even if it's just a pilot. But still,
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if you want to get started, a pilot is
the right place to step start, Um, and
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you have to do it well. But if you're a
small company like sweet fish media
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like, we're not that big. So doing this
small at a small scale isn't that hard.
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I like its I'm one person marketing
team with some help right now, and our
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sales team is actually just one person.
So like, uh, soon to expand. But, um,
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it's not that hard for marketing and
sales to get aligned when marketing and
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sales is to people. Right? Um, so what
we're doing is putting together a list
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of 100 uh, ideal customer like ideal
companies for us, and I'm uploading
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them to hubspot. And now I'm going to
start marketing to them and engaging
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them and essentially moving them down
into the pipeline. Um, just to see how
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effective it is and we're approaching
it while we've been doing this for a
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while with podcasting and go back and
listen to the podcasting episode in
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this specific month in this series, Um,
I wanted to do it in a more orderly and
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a more like a B m e approach to, like,
make everything work better. Before we
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would just cold outreach to people to
be guests on the show. And then maybe
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they became customers. Maybe they
didn't. We never really had a clear act
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way to activate them. We never or
rarely ever hit them with, uh, targeted
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ads If we maybe they saw retargeting
from the website. But it was never,
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like a really uniform approach to
marketing to the accounts that we were
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bringing onto our show. Right? So now
I'm creating a targeted list. I'm
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uploading them all into hubspot, and
I'm actually going to be running ad
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campaigns. Right? So you want to think
about, like, how do I want to get in
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front of these accounts to get started?
If you're just gonna do 10 or you're
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going to do 100 how am I going to get
in front of them after talking with
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multiple vendors and like looking at
the market and trying to figure it out.
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If you're a small company like, it's
really expensive to get a B M ad
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targeting software except unless you go
to LinkedIn. LinkedIn actually has a
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self serve a B M style ad platform
where you can upload a CSP or even just
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manually punch in the companies You
want to run targeted ads to, um, I'm
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still in the middle of setting it up,
so there might be some limitations to
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it, so you might not be able to just
run ads to 10 companies. But maybe you
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can kind of probably depends on the
volume and the size of those companies.
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They probably have some minimums of the
volume of who. You can run ads, too. Um,
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but so far, if you have a small budget,
then LinkedIn ads is probably the best
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way to go. Um, I even ran into a great
LinkedIn post. I remember the name of
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who this came this idea came from, but
it was It was fantastic. Essentially,
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if you really want to save money and
utilize the other two platforms Google
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and Facebook because they're cheaper
than linked in, uh, this is what I'm
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going to be doing is using LinkedIn to
target the right accounts, Send them in
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landing pages where that's like,
through this at is the only place where
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you can get to the landing pages. And
then I'm gonna, uh, trigger retargeting
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ads on Facebook and Google specifically
for these counts only based on the
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pixel load of people who hit this,
these specific landing pages. That way
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I'm only spending ad budget on the
target accounts now and nobody else now,
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to me, as a marketer, I'm like, Oh,
this is fantastic. I could just run. I
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can afford to even over pay a little
bit on LinkedIn's. It's expensive. Um,
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but know that my ads are only being
seen by the exact 100 companies that I
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want to do business with, like never
have I been able to do this before. So
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this is new to me is a B two c market,
and I'm like, Oh, this is amazing. So
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that's an idea of what you can start
doing when you go with the account
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based marketing approach. So think
about how you can start to engage
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people with ads and then even further
down the funnel, We use a podcast. We
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actually are going to reach out to all
100 of these accounts that we've
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already predefined, um, and invite them
to be guests on the podcast. Of course,
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that's the chief way. We we target them.
But of course, running ads in
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conjunction of that will make it much
more likely that they'll know who sweet
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fishes who b two b growth is, um, what
our value propositions are as a podcast
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agency and why podcasting is helpful in
a variety of different aspects. Right?
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Because now I have very targeted ads
hitting not just the people we invite
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onto the podcast, but a lot of their
peers and other decision makers within,
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uh within their company.
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And then, of course, you have to work
it out with sales on who these are and
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where the handoff is between the two
and how I'm specifically have a
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strategy just for qualifying. The
guests who come on the show to know
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when I need to just continue to build a
relationship with them or if it's a
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safe time to, like, hand them off to
sales to further consultants. L right
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So that is an easy way to get started.
Set up a pilot, figure out what you can
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do to just test it with 10, maybe up to
100 like we're doing, um, accounts and
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then just start building a 11 time
campaign. Uh, say like, hey, we're
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gonna We're gonna run this for a
certain amount of time. Um, for us,
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it's gonna be about, you know, about a
quarter. So it's about a 90 day period
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where we're going to run this campaign
and then see where you're at at the end
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of the quarter, or maybe like a few
months after the quarter. If there's
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some lag time in that and then make a
decision after that, did it work? What
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worked? What didn't work? Uh, what
could have been done? Better if we did
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this better would be expected to
produce this much more. You can start
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asking those kinds of questions at the
end of the pilot or the test to see if
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this is something you want to pump more
resources into now because we know this
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has worked for us already. I'm pretty
already pretty sure that we're going to
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continue to spend more and more on this.
Um, but for the most part, I am excited.
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This has been a fantastic month. I've
learned a ton about account based
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marketing that I'm gonna be putting in
practice for sweet fish media. And you
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better believe I'm going to take and
package up all the lessons learned from
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this 30 day deep dive and from the
books that I've read an account based
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market and tied it up into a nice
little package on, like, a B M one. A
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one guide as well as a podcasting. An a
b M. Podcasting. Yeah, we'll probably
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call it that. Maybe, uh, podcasting for
a B m a B M. Podcasting, something
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along those lines. I'm going to come up
with a guy just for that. So you can
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see our exact playbook in a in addition
to seeing, uh, like an A b m one, a one
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playbook with lots of general strategy
and lots of tactics in between, Um, for
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the different, uh, for the different. I
don't know how to say that rhythm of
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account based marketing,
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so stay tuned for that. Also coming
tomorrow, I'm going to be reviewing and
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talking about why the deep dive and how
I've structured the deep dive, what
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I've learned from it, how I'm going to
be tweaking it and how you can use deep
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dives to increase your own thought
leadership. I've actually done deep
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ties as a way to create thought
leadership for sweet fish media as we
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dive into new topics and want to create
more materials and position Sweet fish
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media in some degree as a thought
leader in the space of podcasting, for
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sure. But even in broader topics around
B two b marketing, um, so tomorrow stay
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tuned for that episode if you want to
learn more about how to use deep dives
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in your own content and what we're
doing at Sweet Fish Media to kind of
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give you a behind the scenes look of
how this went, why we're doing it and
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what we're going to continue doing with
it in the future. So thank you for
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following me on this A B M journey, if
you liked it, and I've got a number of
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you giving me feedback on LinkedIn and
I love it. Please give me Give me more
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feedback on Lincoln and What did you
like? What did you hate? What was mad?
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You know, in between, uh, follow me on
linkedin dot com slash i n slash
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digital marketing. Dan, shoot me a
message. Connect. Let's be friends and
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let me know how this series went for
you. Thank you so much for joining me
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on GDP growth.