July 8, 2021 | Data Heroes
Andrew Mahr, Chief Customer Officer at Triblio
"Making it interesting for the customer"
"Making it interesting for the customer", is Andrew Mahr's mantra. In this episode of The Data Heroes Podcast, Andrew Mahr (Chief Customer Officer) at triblio talks about goals, strategies and requirements for implementing one-to-one customer personalization. "For personalization to work in an account based context, it needs to be based on insights and good data of the account."
By personalizing marketing campaigns, you ultimately improve the customer experience and the overall effectiveness of Sales and Marketing efforts. "Personalization has to be done correctly for it to have a good impact. Focus on the needs and interests of the account." Orchestration and alignment are key for collaboratively utilizing cross-channel strategies to keep messaging consistent and engaging. "Given different data signals and given different qualifying criteria, we identify how we actually want Marketing and Sales to engage accounts."
Andrew and host John Kosturos also discuss ICP targeting, intent data, and improving campaign effectiveness through high quality data. "You want a system that can understand the difference between when to feed someone top of funnel brand awareness messaging, versus when to trigger a higher cost marketing tactic."
Andrew Mahr, Chief Customer Officer at Triblio
The Four Key Areas To Improve Campaign Execution.
"1. Predictive Area: Knowing within a given segment, or based on certain intent signals, if we should be reaching out to this account at all. Or should we focus our resources somewhere else? You have to know who you should be spending time on.
2. Staging: How far are they into that journey? How do you know when an account has moved from an awareness stage into truly that consideration mode? And what does that mean about the tactics we should be using? Account data is super important for that. You want a system that can understand the difference between when to feed someone top of funnel brand awareness messaging, versus when to trigger a higher cost marketing tactic.
3. Personalization: You can't do that without good data to operate off of. Data about the account and the people. So that's all the segmentation and messaging side.
4. Targeting: You have to have good data to actually do this targeting if you're running across different channels. If you're targeting people on the website, you need IP to company data to map up with marketing automation cookies. If it's on ads, you're going to need all this new cohort data, things like that. So data is really important really across the whole scope."
One-To-One Sales Messaging.
"When I help customers through this process we try to take a bottoms up approach from sales capacity, because the one-to-one that ultimately gets bottlenecked around what could you deliver through the sales rep. And then how far up through the funnel can you scale that with marketing. Have a tiered list of the many accounts you expect your sellers to reach out to. And if marketing can have a one-to-one campaign, some level of one-to-one, the sales reps should also be reaching out with one-to-one messaging. They should have researched their accounts. They should be working from a shared vision of what the data says about those accounts with marketing. So if sales can do it and marketing can understand how they're doing it and has a platform to scale those tactics, that'd be step one."
Personalization to Improve Campaign Effectiveness.
"It comes back to personalization and improving conversion rates by 20%, at least. Where a lot of ABM programs fall short initially, is that they are that very simplified version where, ‘ABM = ads’. It has to be more than that. So if you're serving up somewhat customized ads to a segment or something like that and then they don't click on the ad. Then that personalization you were doing in channel A, is now breaking down in channel B, and all of a sudden the message isn’t personal anymore. So you lose that effect. Using cross channels is really about keeping the message consistent. And that’s not just ads versus websites and examples like that, but also how marketing is nurturing accounts that sales are also reaching out to, or how that handoff process works."
Andrew’s Sales-Marketing Playbook.
"The Playbook which, given different data signals and given different qualifying criteria, we identify how we actually want Marketing and Sales to engage this account together. Because ultimately when we're doing orchestration; that's what we're doing. We're marrying data signals to these cross channel tactics that we can run. But that customer strategy has to be there; these types of signals should lead to this type of content delivery. This type of account is worth a thousand dollar investment, but this other account is only worth a hundred dollars to acquire, or whatever. So the Playbook on all those different levels is understanding what you want to invest in for different types of customers and the plays you joined to do that."
Using Intent Data to Refine Your ICP.
"I think that the ICP process today still has weaknesses built in. If you're starting with dirty or incomplete CRM data or account data, which probably you guys know all about solving, then you have this garbage-in, garbage-out process that you have to take time cleansing. So that's one limitation. And that’s certainly getting better though, and there are tools, tools like RingLead to solve that. The other one is that the ICP process, in terms of intent signals we should care about, is still very keyword based. It should be able to discover while the ICP process develops. Discover for us who we should be targeting, even if we are not aware of what those relevant signals are yet."
- Successful Personalization. For personalization to be successful as a marketing strategy, it must be accurately aimed towards each account. According to Andrew, that personalization can be aimed at the account level, but doesn’t have to be completely specific, such as job title or including the company name. Successful personalization should focus on piquing the interests and needs of each account. "For personalization to work, in an account based context at any rate, it needs to be based on insights and good data of the account. The person and the people from that account don't need to know it has been personalized for them. It just needs to connect and be interesting."
- The 3 Parts to ABM Orchestration. According to Andrew, there are 3 parts to successfully carry out ABM orchestration. Part one: “You have to have an automated account selection and prioritization process. Building lists six years ago was super manual and by the time you actually got a list into market, that data might be old. The predictive automated account selection process has been getting better and better.” Part two: “It also has to be cross channel and multi-stage. You need all the channels saying the right thing at the same time, and you need the stages to progress because obviously the top funnel is very different from the bottom funnel messaging.” Part three: "Personalization at scale. Delivering more relevant messaging and more insightful conversations on the right accounts. When we describe ABM orchestration, that's the vision; It's predictive, it's cross-channel and it's personalized at scale."
- Accurate Sales Handoffs. It’s not always possible for Sales to run each account by Marketing to discover the best approach before messaging a customer. Andrew explains the Triblio methodology and how they’ve begun building one-to-one landing pages in the sales handoff process to provide assets and direction for each communication. "When a sales rep who’s part of our ABM programs gets an account to follow up with, they're also getting this one-to-one landing page that they're supposed to drop into their LinkedIn messaging or drop into their sales loft email, or what have you. So when they reach out the resources they're recommending and the messaging they're delivering are already in line with what marketing tee’d up. They don't have to research it or figure it out."
- The ABM Playbook. According to Andrew, there are 2 types of minimum data sets required for Triblio’s ABM campaign activation. The first data types are closed account data sets such as ICPs or intent data. These are utilized to create lookalike accounts for Triblio to begin focusing on. "The second type of data the customer needs to bring is the Playbook. Which, given different data signals, given different kinds of qualifying criteria, we identify how we actually want marketing and sales to engage this account together. Because ultimately when we're doing orchestration, that's what we're doing. We're marrying data signals to these cross channel tactics that we can run."