648: 3 Keys to Great ABM Programs w/ Mike Locke

ABOUT THIS EPISODE

In this episode we talk to Mike Locke, President of Marketing Technology Association.

LinkedIn: https://www.linkedin.com/in/mikelocke/

Looking for a guaranteed way to create content that resonates with your audience? Start a podcast, interview your ideal clients and let them choose the topic of the interview, because if your ideal clients care about the topic, there's a good chance the rest of your audience will care about it too. Learn more at sweet fish Mediacom. You're listening to the B tob growth show, podcast dedicated to helping be to be executives achieve explosive growth. What you're looking for techniques and strategies or tools and resources? You've come to the right place. I'm Jonathan Green and I'm James Carberry. Let's get into the show. Welcome back to the BB growth show. We are here today with Mike lockey, is the president of the Marketing Technology Association. Mikey doing today? Great? How are you doing? I am wonderful. So, Mike, we are going to be talking about sales and marketing working together to develop incredible ABM programs today,...

...but before we get into that, I'd love for our audience understand, it's a little bit of context around you and why you're the guy to be talking about this. Can you tell us what you and your team er up to at the Marketing Technology Association, sure, where we are launching chapters throughout the US this year and our focus is on how you build a great marketing technology infrastructure and how you use it to grow. Your Business. Needs a love it. And so, Mike, why is this topic of obviously I hear a lot of people talking about ABM. I hear a lot of people talk about sales and marketing alignment. I'm sure with you being as entrenched in the space as you are, those are two incredibly common topics that you're hearing all about as well. So why is it so important that that we need to work together? Kind of what's the why behind what we're going to be talking about for the rest of this interview? The importance of working together is to throw your revenue. You can sit in two individual sides, as sales...

...and marketing and never work together and say you are through this program but when you truly form a great team, you see that remow jump because each side is now working towards a common goal. What would you say are some of the biggest road blocks, from your perspective, keeping teams from an experiencing that kind of alignment? There's a couple things. One is generally these sides are naturally the y Yang of each other. What sales and marketing have to do is look at each other's for factive. HOW DOES BE COPPENSATE? Obviously by growing revenue, and how does marketing get compensated? By generating Leeds. But when you get abm you've got to work together. The cost of the programs, cost of people in importance of working on strategic accounts need to override the...

...general offenses that are put up throughout history between sales and market all right, so one thing that we were talking about offline. Mike, you talked about a key to this alignment puzzle so that so that ABM is really clicked in the place and it is really working, is the importance of understanding the perspective of your counterpart, whether you're in sales, your counterpart and marketing, your marketing your counterpart in sales. Can you talk to us a bit about the importance of understanding that perspective and maybe even share some some ways that folks can go about doing that? Yes, you often hear terms from sales and market from each other. It reminds me of kind of the gun debate we had today, gun control one side and Niram the other side. I think people are now need to sell the solution. Care about each other's side and that's what adm is doing. You have to look at why people are are on...

...one side of the other, importance of that side. Like marketing needs look at fact of sales has quotas. They've got to generate revenue and what you're doing in marketing is ultimately getting that revenue and getting those folds film for sales. And same time sales has to look at what is marketing being behind the seas? They're just not generating likes anymore. They're actually getting the leads and they like leads. You spend the time and the effort with that marketing team to get the leads you need, and that's what ABM is about, is to see each other side, to understand where they're coming from and how they're compensated. That's a I think a big one is is compensation. That has to be also a team generated area where both marketing and sales are compensated for the tool out quote of ABM. Have you have you seen a lot of companies starting starting to implement that? We're marketings compensation is based on closed one...

...revenue. I think the better ADM programs have that within their systems. It's something that's going to be a long term process to take somebody who's paid a salary and now have them in terms of some type of compensation. The same time, the sales team needs to understand that marketing is there and they need to be compensated other than just doing something that's that looks good, but it leads to feel like they're not appreciating all right. One last thing, Mike, that you mentioned before we started recording. You talked about this idea of needing to get away from the activities that the other side has to do. Talk to us about this mentality and how we can move closer toward it. One of the things that you get into the series where you got to meet together, often get into the theater point. You have to do this in order to understand my side, and the other side said the same thing. Kind of reminds me of that. I don't buffle springfield song is right if...

...everybody's wrong. You've got to be able to step back and instead of saying you must do these three things in order for me to do this. You've got to look at the common goal and said what do I need to do to reach that common goal and have both sides agreed it. You have to step back from our normal holes and look at what the other person is doing to help you acccomplish that and that will worry about a greater ABM program but, Mike, before I let you go, I would love to hear do you have any any stories of you know companies that you see they are just brilliantly executing abm that you would mind sharing with with listeners before I let you go? Today, probably one of the best. I've been looking have to be on about a hundred different webinars abm over the last years. So the most obviould say that the company that has it best is right now. I see is an ADM vendor called Gaga. Okay, they are using not the...

...strategic accounts, but they're trying to spread it across all of their UPDB programs. I think in the next five years account based marketing will be the way you go be to be it'll be the most dominant way that it'll be. Eight percent of all BB marketing will be some type of adm. I completely agree. I think there's there's there's so much opportunity in vendors like engageo and we're working real closely with terminus, and when you see those companies and the success they're seeing deploying the the very thing they're advocating for, it just makes too much sense that the rest of the market would fall suit and and and start doing the more personalized approach, going after strategic accounts, as opposed to of the the the lead based approach that is seems to be becoming less and less effective by the day. Like this has been incredible. I really appreciate your time today. If there's somebody listening to this, they want to stay connected with you, they want to learn more about the marketing technology association.

What's the best way for them to go about doing that? We can recess set a seecom which is our website. They can reach me at Mike Lock at Mkat Accom or the regicide a phone number verty colony six four eight four thirty four ninety seven. Tech me either way and will help out anyone who need to. Thank you so much, Mike Again, for your time. It's been fantastic and I really appreciate it. Thank you. There are lots of ways to build a community and we've chosen to build the be tob growth community through this podcast. But because of the way podcasts work, it's really hard to engage with our listeners, and without engagement it's tough to build a great community. So here's what we've decided to do. We're organizing small dinners across the country with our listeners and guests. No sales pitches, no agenda,...

...just great conversations with like minded people. Will Talk Business, we'll talk family, will talk goals and dreams, will build friendships. So if you'd like to be a part of a BEDB growth dinner in a city near you, go to be to be growth dinnerscom. That's be to be growth dinnerscom. Thank you so much for listening. Until next time.

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