#BestOf2019: How to Keep Sales from Ignoring Your ABM Target List w/ Lauren Vaccarello

WEBVTT 1 00:00:05.360 --> 00:00:08.310 Hey there, this is James Carberry, founder of sweet fish media and one 2 00:00:08.349 --> 00:00:10.990 of the CO hosts of this show. For the last year and a half 3 00:00:10.990 --> 00:00:14.710 I've been working on my very first book. In the book I share the 4 00:00:14.830 --> 00:00:18.910 three part framework we've used as the foundation for our growth here at sweet fish. 5 00:00:19.350 --> 00:00:22.140 Now there are lots of companies that ever heised a bunch of money and 6 00:00:22.219 --> 00:00:25.339 have grown insanely fast, and we featured a lot of them here on the 7 00:00:25.379 --> 00:00:30.260 show. We've decided to bootstrap our business, which usually equates to pretty slow 8 00:00:30.300 --> 00:00:34.460 growth, but using the strategy outlined in the book, we are on pace 9 00:00:34.579 --> 00:00:38.289 to be one of inks fastest growing companies in two thousand and twenty. The 10 00:00:38.369 --> 00:00:42.530 book is called content based networking, how to instantly connect with anyone you want 11 00:00:42.530 --> 00:00:45.289 to know. If you're a fan of audiobooks like me, you can find 12 00:00:45.289 --> 00:00:48.369 the book on audible or if you like physical books, you can also find 13 00:00:48.409 --> 00:00:53.520 it on Amazon. Just search content based networking or James Carberry. Car be 14 00:00:53.719 --> 00:00:58.280 a ARY in audible or Amazon and it should pop right up. All right, 15 00:00:58.439 --> 00:01:03.359 let's get into the show. Hey, everybody, Logan with sweet fish 16 00:01:03.439 --> 00:01:07.269 here, as we've been doing throughout January, we continue our countdown of the 17 00:01:07.390 --> 00:01:11.349 top twenty episodes of two thousand and nineteen here in our Hashtag best of two 18 00:01:11.390 --> 00:01:15.030 thousand and nineteen series. If you've been following along, you know that yesterday 19 00:01:15.109 --> 00:01:19.019 coming in and number four was the first part in our two part series on 20 00:01:19.140 --> 00:01:23.379 starting your first ABM program with Lauren Baccarello. Not surprisingly, number three is 21 00:01:23.739 --> 00:01:29.260 part two in that two episode series we did with Lauren last year. To 22 00:01:29.340 --> 00:01:32.859 get more episodes coming up in the countdown, make sure you're subscribed to the 23 00:01:32.890 --> 00:01:37.170 show in apple podcast or wherever you do you're listening. You can also check 24 00:01:37.209 --> 00:01:42.450 out the full list at Sweet Fish Mediacom blog. Just look for the Hashtag 25 00:01:42.530 --> 00:01:45.969 Best of two thousand and nineteen in the categories on the right hand side of 26 00:01:46.049 --> 00:01:52.120 that page. Welcome back to the B tob grows show. In today's episode 27 00:01:52.200 --> 00:01:57.799 we continue the conversation from yesterday's episode with Lauren Vaccarolo. She is the former 28 00:01:57.840 --> 00:02:02.950 VP of marketing and customer engagement at box. She shared yesterday a systematic approach 29 00:02:04.069 --> 00:02:08.030 to breaking down your three high level goals in starting your first ABM program she 30 00:02:08.229 --> 00:02:14.909 was instrumental in leading the first ABM program at box and today she gets even 31 00:02:14.949 --> 00:02:20.259 more granular in the tactics and strategies she recommends from her lessons learned. They're 32 00:02:20.620 --> 00:02:24.620 so with that. Let's get back into the conversation with Lauren. So you 33 00:02:24.740 --> 00:02:30.530 touched a little bit on a few lessons learned throughout as you've been talking about 34 00:02:30.530 --> 00:02:34.409 it, Lauren, you mentioned you know you've got to track at the account 35 00:02:34.449 --> 00:02:38.610 level. You don't necessarily need to invest a ton in technology in the early 36 00:02:38.650 --> 00:02:42.930 days as you get it going, especially if you're trying to kind of soft 37 00:02:42.930 --> 00:02:46.080 launch it and get some buy in early before you're really asking for a ton 38 00:02:46.199 --> 00:02:50.719 more budget at a higher level within sales. What are some of the other 39 00:02:50.800 --> 00:02:53.719 lessons learned that you think you would have liked to have known early on in 40 00:02:53.800 --> 00:02:58.949 these days and might be helpful for listeners to it? So we went with 41 00:02:59.349 --> 00:03:04.389 the hardest possible route in terms of a count selection. Okay, so we 42 00:03:04.750 --> 00:03:07.949 said we want to prove the effectiveness of what we're doing. So what we're 43 00:03:07.990 --> 00:03:14.099 going to do is we are going to find account that sales has had absolutely 44 00:03:14.340 --> 00:03:19.060 no luck with. They are like running into a brick wall. They have 45 00:03:19.340 --> 00:03:23.099 not had a good account penetration. It just hasn't been working. What would 46 00:03:23.139 --> 00:03:28.289 have been so much easier is student lane expand. So you had the small 47 00:03:28.370 --> 00:03:34.090 deployment in existing account and let's work with sales to expand appointment and it'll happen 48 00:03:34.250 --> 00:03:38.009 faster. You'll have more success faster. We definitely went with the hardest road 49 00:03:38.090 --> 00:03:40.520 possible. Yeah, sounds like it. Yeah, you know what, if 50 00:03:40.520 --> 00:03:44.960 you're gonna do something, you just might as well. We'll go for it. 51 00:03:45.360 --> 00:03:49.000 Yeah, I love it. Is You cut your teeth on the hardest 52 00:03:49.039 --> 00:03:52.879 thing and make everything a lot of a lot easier and to prove value more 53 00:03:53.199 --> 00:03:57.229 other things that we just you don't know. What you don't know is in 54 00:03:57.430 --> 00:04:00.509 our mind. And we had a couple of people eventually started as one person 55 00:04:00.590 --> 00:04:04.110 on my team's part time job at APM and then the full time job, 56 00:04:04.189 --> 00:04:09.349 and then we had another person who full time waves on account a marketing rich, 57 00:04:09.469 --> 00:04:11.860 you know, their full time job, and they're thinking about a bm 58 00:04:11.900 --> 00:04:15.259 all ay the sellars and you're like, okay, great, I've got five 59 00:04:15.300 --> 00:04:17.939 accounts from the day and we're going to work together on it. The A 60 00:04:18.259 --> 00:04:21.259 has a lot more than five accounts that they're working on and for it is 61 00:04:21.339 --> 00:04:25.769 there. You be as we are, that they're working with yes, yes, 62 00:04:26.569 --> 00:04:29.930 so you can assume that, okay, we are going to go really 63 00:04:30.089 --> 00:04:32.490 deep and seeing it G, we're going to get everything about them and obviously 64 00:04:32.930 --> 00:04:38.329 there eb are ob are going to go in and like call everyone in g 65 00:04:38.639 --> 00:04:43.600 and find everyone and really like pound the pavement for g. The OB are 66 00:04:43.720 --> 00:04:46.560 Ebre, depending on what they're calling, the organization is like, yeah, 67 00:04:46.800 --> 00:04:50.040 I'm gonna go call these other accounts that are easier and the Rep told me 68 00:04:50.160 --> 00:04:55.189 to do this and what's that thing that you're doing? So don't, even 69 00:04:55.269 --> 00:04:59.949 when they're really excited and supportive, don't assume that that it's the only thing 70 00:05:00.029 --> 00:05:03.069 that they're doing and working on, which is honestly why we ended up doing 71 00:05:03.149 --> 00:05:08.939 the external appointment setting and we ended up letting me, Ob are focus on 72 00:05:09.699 --> 00:05:14.980 the whole breath of the a territory and then we really went deep on the 73 00:05:15.019 --> 00:05:20.139 accounts that a rep would have in the ABM program so that was definitely a 74 00:05:20.449 --> 00:05:25.970 good reminder and lesson. One of my favorite tips that I was like I 75 00:05:26.050 --> 00:05:29.649 can give this that I just I thought worked really, really well. So 76 00:05:29.730 --> 00:05:33.970 I talked about about and getting you want repped in the room with your target 77 00:05:34.009 --> 00:05:39.160 accounts and with key decision makers and target account and yeah, so I haven't 78 00:05:39.160 --> 00:05:43.920 been a feller in years. So I get up to them to sort of 79 00:05:44.079 --> 00:05:46.000 once they get we get them in a room. I'm not going to close 80 00:05:46.079 --> 00:05:48.800 the deal. I need to get them in a room. Give them an 81 00:05:48.800 --> 00:05:51.829 ask that and then it's sort of up to them. So things that we 82 00:05:53.029 --> 00:05:56.430 did. How do I get commend a room and a really tar are good 83 00:05:56.470 --> 00:06:00.629 way. That's also super natural, organic setting. So we ended up partnering 84 00:06:00.829 --> 00:06:04.980 our ABM Program With Her field marketing program and we have a whole field marking 85 00:06:05.139 --> 00:06:11.740 program that's going into territory and we had obviously old our abm accounts mask by 86 00:06:11.819 --> 00:06:15.540 territory. So for the field marker covering central, she also knew. Well, 87 00:06:15.699 --> 00:06:18.449 Yep, I've got centralized my whole territory. Blah, blah, blah. 88 00:06:18.889 --> 00:06:23.250 I have, you know, forty account in central that are part of 89 00:06:23.250 --> 00:06:27.889 the ABM program and if I am running an event in Chicago, I need 90 00:06:27.970 --> 00:06:33.279 to make sure that any ABM account that is inner near Chicago not only gets 91 00:06:33.360 --> 00:06:38.040 invited, but I really short of go above and beyond to try to get 92 00:06:38.079 --> 00:06:41.639 them in the room and I make sure that rep is there. And if 93 00:06:41.680 --> 00:06:46.959 I am sponsoring a trade show, for there's some sort of sponsored events that 94 00:06:46.149 --> 00:06:50.470 I that is in Chicago. I now want to call that event and say, 95 00:06:50.790 --> 00:06:55.470 Hey, can you invite these three people for me? Can you invite 96 00:06:55.670 --> 00:06:59.910 these people from these accounts for me to your event? And Hey, is 97 00:07:00.029 --> 00:07:02.500 you're hosting this, you know, events, consor dinner. Can you get 98 00:07:02.579 --> 00:07:05.699 these? Can you invite these people to this dinner for me? And after 99 00:07:05.740 --> 00:07:10.259 you do, I want them to sit next to my rest and you know, 100 00:07:10.699 --> 00:07:14.459 you don't know what they'll say no to unless you ask for ours. 101 00:07:14.579 --> 00:07:19.209 That was like how to re make sure we provide as many opportunities as possible. 102 00:07:19.810 --> 00:07:23.209 Once I give them the opportunity, I'm not going to be the one 103 00:07:23.250 --> 00:07:26.170 to close the deal, but I'm going to get of the reps as many 104 00:07:26.329 --> 00:07:29.810 chances as they can. Yeah, I love that idea of kind of the 105 00:07:29.970 --> 00:07:33.360 next level orchestration, not just helping them book sales calls and Demos, but 106 00:07:34.120 --> 00:07:40.079 giving them the opportunity to rub shoulders with the accounts that they want to be 107 00:07:40.240 --> 00:07:44.870 in front of in other sorts of ways. Kind of ask for forgiveness, 108 00:07:44.910 --> 00:07:46.550 not permission. there. You know what's the worst thing? That the that 109 00:07:46.670 --> 00:07:50.629 event organizer is going to say no, okay, exactly and then I like 110 00:07:50.750 --> 00:07:54.870 that. All right, all right, fine, I just figured I'd ask. 111 00:07:55.269 --> 00:07:58.860 I love that. Well, Lauren, this has been a great conversation. 112 00:07:59.139 --> 00:08:01.660 In anything else that you would add? You mentioned, you know, 113 00:08:01.819 --> 00:08:07.060 some some technology the account selection. That's what I was thinking of earlier as 114 00:08:07.060 --> 00:08:11.819 you were mentioning you guys going to going the hard route of, you know, 115 00:08:11.980 --> 00:08:15.649 let's find the ones where sales has just been beating their head against the 116 00:08:15.689 --> 00:08:18.569 wall and we'll help them break in and will be the heroes. You know, 117 00:08:18.689 --> 00:08:20.529 maybe there's some there's some learning to be had there. Maybe there's a 118 00:08:20.529 --> 00:08:24.850 better way in. Do you recommend, and you have a whole slide and 119 00:08:24.050 --> 00:08:28.680 some of the technology and other pieces, and you mentioned using the outside agency 120 00:08:28.839 --> 00:08:33.159 for a pointment standing in sales development, would you recommend folks kind of look 121 00:08:33.159 --> 00:08:37.879 at, you know, predictive intent data, that sort of stuff on the 122 00:08:37.960 --> 00:08:41.950 front end, that that that could be a crucial piece to really getting some 123 00:08:41.110 --> 00:08:45.909 earlier quick wins or maybe starting at least not up such a steep hill as 124 00:08:45.990 --> 00:08:50.149 you guys did? That's absolutely so. We end up doing through the proof 125 00:08:50.230 --> 00:08:52.629 of concept that then we did a small pilot and then we that have went 126 00:08:52.750 --> 00:08:58.379 all on it for the small pilot to all in and we did the transition 127 00:08:58.779 --> 00:09:01.139 what I really recommend doing. Part of the reason we had to do this 128 00:09:01.259 --> 00:09:05.980 the really grass groups. I was also know the culture of your organization and 129 00:09:05.220 --> 00:09:09.049 this was just the better path. So how we did when we were did 130 00:09:09.090 --> 00:09:15.250 the actual pilot, is and then we change it again to the real method. 131 00:09:15.610 --> 00:09:20.129 When we actually launched the program was sitting down with sales and saying sales 132 00:09:20.570 --> 00:09:24.039 and actually sales leadership, not the individual you know, Opportunitisic, GPS and 133 00:09:24.159 --> 00:09:28.679 sale leaderships, and called I want to list of who were the most important 134 00:09:28.759 --> 00:09:31.960 counts for you to go after next quarter, next year, next year, 135 00:09:31.559 --> 00:09:37.600 and let's have sales and marketing come together and say what is our one list, 136 00:09:37.960 --> 00:09:41.470 because what we don't want to happen is marketing to build their accounts, 137 00:09:41.710 --> 00:09:45.389 marketing target lists and still to build their target list. And there's like a 138 00:09:45.470 --> 00:09:50.029 forty percent overlap, because then again sales will come back and say these markers 139 00:09:50.029 --> 00:09:52.019 have no idea what they're talking about or what they're doing. So build that 140 00:09:52.179 --> 00:09:56.779 list together. And most important thing is, once you have this list, 141 00:09:56.059 --> 00:10:01.139 sales, marketing and, honestly, customers success all need to know the list. 142 00:10:01.220 --> 00:10:03.700 All need to be bought it and have the same target account lists. 143 00:10:03.779 --> 00:10:07.330 So the first time we did it in the pilot it was still sort of 144 00:10:07.409 --> 00:10:13.490 marketing proving itself. So we took the target lists from sale from sale and 145 00:10:13.730 --> 00:10:16.169 basically just took their lists and said, okay, we'll do it again once 146 00:10:16.289 --> 00:10:20.570 we really proved to be, I think, a fee of a program. 147 00:10:20.049 --> 00:10:24.679 When we really launched the full program we did a couple of things. So 148 00:10:24.919 --> 00:10:30.519 we click afide. We had we the incredible data science team and we ran 149 00:10:30.559 --> 00:10:35.590 a couple of models for S and be midmark in enterprise of what are the 150 00:10:35.669 --> 00:10:41.029 best accounts according to sales and then according to a predictive model, internal predictive 151 00:10:41.070 --> 00:10:46.549 model, then also using predictive analyigic way solution, and who were the who 152 00:10:46.590 --> 00:10:50.779 were the best account and we established this. We run the program do regression 153 00:10:50.779 --> 00:10:56.740 analysis and it turns out in S and B the predictive programs far outperforming what 154 00:10:56.899 --> 00:11:00.740 the sellers say in terms of who are the best account in the enterprise. 155 00:11:01.059 --> 00:11:05.129 Sales is actually really, really close and sales and predictive of like who were 156 00:11:05.169 --> 00:11:09.450 the best account we're actually like neck and neck in terms of what actually is 157 00:11:09.529 --> 00:11:15.730 the best accounts and there even sometimes that the spellers deep the predictive programs and 158 00:11:15.970 --> 00:11:18.240 you could say, well, you know what, the sellers there're there fewer 159 00:11:18.279 --> 00:11:24.200 account they shouldn't know their program better. But what was really interesting and enterprise 160 00:11:24.679 --> 00:11:28.440 is when we took who the sellers said, these are the target accounts, 161 00:11:28.559 --> 00:11:31.320 these are the best account and then we took the data from the predictive program 162 00:11:31.480 --> 00:11:35.429 and we overlaid the two. Where there was an overlap it was a significant 163 00:11:35.470 --> 00:11:41.110 increase. So it's like sellers study this is good and the predictive program says 164 00:11:41.190 --> 00:11:43.710 this is good. Is Sort of where the magic happened. So that's how 165 00:11:43.789 --> 00:11:48.820 we came out with the basis of our target account list. The once we 166 00:11:48.940 --> 00:11:52.019 really watch the program was okay, sales, what do you who's important? 167 00:11:52.340 --> 00:11:56.620 Sort of our homegrown predicted they are homegrown data. And then are predicted analytics, 168 00:11:56.700 --> 00:12:03.769 the solution based on intense signals, all of this other data, user 169 00:12:03.889 --> 00:12:07.370 fit models. WHO's the best? This is our overlap. And then we've 170 00:12:07.370 --> 00:12:09.850 sit down with sales and say this is our validated list. You go back 171 00:12:09.929 --> 00:12:13.529 and forth and then sales will say hey, you know, gee's not on 172 00:12:13.610 --> 00:12:18.399 the list. You miss these. We want to add these opportunistically and you're 173 00:12:18.440 --> 00:12:22.480 like, great, we are totally okay with expanding and adding things opportunistically. 174 00:12:22.200 --> 00:12:26.159 It doesn't quite fit the model. But we all know reality and models are 175 00:12:26.200 --> 00:12:31.990 different, and that's how we came up with an agreed on the sort of 176 00:12:31.029 --> 00:12:35.870 the finals, the finalist for our program and then we reevaluate, I think 177 00:12:35.909 --> 00:12:39.230 every six months or so just to see it does anything need to be added 178 00:12:39.269 --> 00:12:43.820 or subtracted? So that's really how we do the account selection. Now I 179 00:12:45.620 --> 00:12:48.620 like using predicted as a part for account selection. A lot of it is 180 00:12:48.659 --> 00:12:54.179 just for fit models, for overall intense and intense scores WHO's in market and 181 00:12:54.299 --> 00:12:58.610 really pulling in some of that data's great. Yeah, absolutely well. I'm 182 00:12:58.649 --> 00:13:01.970 going to do my best to kind of recap some of the things here, 183 00:13:03.049 --> 00:13:09.250 Lauren, because you have done a phenomenal job of unpacking so many tactical takeaways 184 00:13:09.289 --> 00:13:11.649 for listeners. I think you know, what really hits me about the way 185 00:13:11.730 --> 00:13:16.559 that you guys structured it, or at least the way you learned after the 186 00:13:16.639 --> 00:13:20.639 fact, is starting out with those three main goals of providing account in intelligence, 187 00:13:20.679 --> 00:13:26.000 driving awareness and engagement and then helping sales land and expand and really looking 188 00:13:26.039 --> 00:13:30.830 at all of your efforts broken into those three buckets, I think can make 189 00:13:31.190 --> 00:13:35.950 launching an ABM program that much more approachable for folks. Some of the things 190 00:13:35.990 --> 00:13:39.789 that you touched on that I think are really, really helpful for listeners. 191 00:13:39.110 --> 00:13:43.940 We just talked about it. They're aligning with sales on account selection, using 192 00:13:43.980 --> 00:13:48.580 a mix of sales as input as well as predictive and and intent data. 193 00:13:50.019 --> 00:13:52.779 You touched on a couple times. Tracking on the account level, not on 194 00:13:52.899 --> 00:13:58.169 the contact level. The third one I had was try a pilot. I 195 00:13:58.289 --> 00:14:01.250 think that's so important. I think everyone's talking about sales and marketing alignment, 196 00:14:01.250 --> 00:14:05.529 especially within ABM. They understand that it's important, but I think you laid 197 00:14:05.529 --> 00:14:11.519 out a very great game plan on how to actually effectively do that. And 198 00:14:11.679 --> 00:14:15.679 then the last two are, you know, working with sales and not just 199 00:14:15.840 --> 00:14:18.919 sales leadership in the way that you guys executed your pilot program and then, 200 00:14:20.159 --> 00:14:24.039 last but not least, track those short, mid and long term goals and 201 00:14:24.240 --> 00:14:26.710 be very granular about those so that you can see are you heading in the 202 00:14:26.750 --> 00:14:31.429 right direction and you can not not to use a word you wanted to get 203 00:14:31.429 --> 00:14:35.029 away from, but so that you can get credit for those quick wins and 204 00:14:35.190 --> 00:14:39.899 those those midterm wins, because it's not about credit, it's about, you 205 00:14:39.980 --> 00:14:43.980 know, maintaining the momentum of the program if you want to get budget for, 206 00:14:43.379 --> 00:14:46.899 you know, a fully built out ABM team. So, Lauren, 207 00:14:48.019 --> 00:14:50.820 I can't thank you enough for being on the show today. I feel like 208 00:14:50.899 --> 00:14:54.850 you've given so many tactical takeaways, as I mentioned to listeners today. If 209 00:14:54.929 --> 00:14:58.409 anybody listening to this, I know they can find you on certain episodes of 210 00:14:58.490 --> 00:15:03.730 the marketing trends podcast. I've been listening and getting a ton of value a 211 00:15:03.009 --> 00:15:07.399 lot of great guests on that show. Where can they find you there? 212 00:15:07.480 --> 00:15:11.480 Or if they just want to connect with you or ask any follow up questions 213 00:15:11.840 --> 00:15:15.080 on all of the great content you've shared with us today, what's the best 214 00:15:15.080 --> 00:15:20.440 way for folks to find you? Shore definitely marking friends podcasts twice a week, 215 00:15:20.600 --> 00:15:24.590 great episodes, great guests. You get a lot of humor and sarcasm 216 00:15:24.110 --> 00:15:31.269 from me, fun stories and incredible other configures. I am publicly on twitter 217 00:15:31.309 --> 00:15:35.620 at Lauren be I promised Yoursam more often find me on Linkedin, where you 218 00:15:35.899 --> 00:15:41.659 can email me on the the mission, which is this Lauren. After mission 219 00:15:41.019 --> 00:15:43.860 awesome. I love it, Lauren. Thank you again for being on the 220 00:15:43.899 --> 00:15:46.820 show today. This was a ton of fun. Thank you for having me. 221 00:15:50.330 --> 00:15:54.370 We totally get it. We publish a ton of content on this podcast 222 00:15:54.490 --> 00:15:58.610 and it can be a lot to keep up with. That's why we've started 223 00:15:58.690 --> 00:16:03.210 the BB growth big three, a no fluff email that boils down our three 224 00:16:03.330 --> 00:16:07.960 biggest takeaways from an entire week of episodes. Sign up today at Sweet Phish 225 00:16:07.039 --> 00:16:12.759 Mediacom Big Three. That sweet fish Mediacom Big Three