Good ABM/Bad ABM
Good Account Based Marketers know their product, their existing customers, and their target buyers extremely well and operate from a position of knowledge and insight. A good Account Based Marketer is the head of intelligence. A good Account Based Marketer leads the organization to target accounts who look like existing customers because they know the value of effective marketing is in seeking out the right leads, not stuffing the top of the funnel.
Bad Account Based Marketers target the Fortune 500, just like everyone else. They commission a study of buyer personas in their target accounts, because its safer and easier than doing the hard work of cold calling customers themselves. Bad Account Based Marketers know as much about their target buyers as they know about Vietnam, which they've only seen in war movies. They're passive.
Good Account Based Marketers don't get stuck in supporting every new sales request or helping to chase every deal. They are not part of the sales team: they lead the sales team with a long term vision of what's possible. Sales teams don't consider Good Account Based Marketers "a marketing resource." Good Account Based Marketers are the marketing counterpart of the sales team. Good Account Based Marketers clarify the right targets, the "who", and the winning approach to engage them, the "how."
Bad Account Based Marketers feel best about themselves when the sales team thanks them for completing a request.
Good Account Based Marketers create product-quality content: free apps, diagnostic tools, courses, books, and podcasts. Bad Account Based Marketers create campaigns designed to interrupt their buyer's day. Good Account Based Marketers understand their permission to speak with their target audience is a fragile privilege, and they only send messages that can actually improve the life of their recipient.
Good Account Based Marketers think about using free offers to cross the penny gap, enabling data driven decisions even when the ASP is >$300k. Bad Account Based Marketers adopt the industry standard metrics because it is a "best practice."
Good Account Based Marketers think about flipping the funnel, and optimizing lifetime value by connecting their company with the right buyers. Bad Account Based Marketers think about optimizing the traditional funnel and don't understand why their paid white paper leads haven't converted yet.
Good Account Based Marketers begin with the buyer in mind, and produce the content that will engage the buyer without gimmicks. Bad Account Based Marketers repurpose their existing content to try to meet the needs of their market. Good Account Based Marketers match their target accounts to their strengths. Bad Account Based Marketers spin their strengths to match their target accounts.
Good Account Based Marketers focus the team on long term engagement and permission with the right buyers. Bad Account Based Marketers focus on open rate and click through rate. Good Account Based Marketers create email newsletters that their audience wants to read. Bad Account Based Marketers publish newsletters and webinars because "everyone else is doing it so it can't hurt."
Good Account Based Marketers think in terms of maximizing personalization to stand out in a crowded market. Bad Account Based Marketers think in terms of scaling their campaigns. Good Account Based Marketers do things that don't scale.
Good Account Based Marketers think about the story they want happy customers to share. Bad Account Based Marketers think about personalizing landing pages with the first name of the visitor. Good Account Based Marketers listen to customers to discover what they want. Bad Account Based Marketers broadcast. Good Account Based Marketers assume customers are really smart. Bad Account Based Marketers assume customers are dumb because 95% don't fill out a form on the website.
Good Account Based Marketers update and track their metrics, because they use data to make informed decisions. Bad Account Based Marketers change the definition of their metrics, because they want to tell a good story instead of deliver business outcomes.
Good Account Based Marketers err on the side of helping buyers decide vs persuading them to buy. They produce buyer's guides that disqualify prospects, because they know a bad lead is worse than no lead at all. Bad Account Based Marketers hide their company's flaws, and publish bullshit.
Thanks to Ben Horowitz for the inspiration.