Episode 20 - Jon Russo on Account Based Marketing and Sales for Industrial Manufacturers

Jon Russo on Account-Based Marketing and Go To Market Strategies - Industrial Growth Institute Podcast Episode # 20 with Ed Marsh

Summary

In this episode, Ed Marsh interviews Jon Russo, a three-time global CMO and the founder of B2B Fusion. They discuss account based marketing (ABM) and its evolution into account-based go-to-market strategies. They also touch on the importance of executive commitment, sales enablement, and the integration of marketing and sales.

Jon emphasizes the need for data-driven decision-making and the common mistakes made in strategy and tactics as well as:

• having a clear ideal customer profile (ICP) when developing an account-based go-to-market strategy
• need for a long-term approach, the right technology to support and track the strategy
• importance of training sales teams to focus on the ICP
• value of marketing and sales collaboration
• need to add value to prospects by addressing their specific business needs.

Their conversation concludes by exploring the challenges and opportunities of AI in the go-to-market space, the importance of community and events, and the need for great content in marketing efforts.

Takeaways

• Account-based marketing (ABM) has evolved into account-based go-to-market strategies, integrating marketing and sales.
• Executive commitment is crucial for the success of ABM and other go-to-market strategies.
• Sales enablement is important in helping sales teams execute marketing strategies effectively.
• Industrial manufacturers can benefit from applying the same rigor and data-driven approach to marketing and sales as they do to manufacturing and operations.
• Optimizing the funnel and executing tactics require a focus on sales and marketing productivity and the ownership of data. Having a clear ideal customer profile (ICP) is crucial for developing an effective account-based go-to-market strategy.
• A long-term approach is necessary for success in account-based go-to-market, with a focus on building relationships and adding value to prospects.
• Technology plays a key role in supporting and tracking the account-based go-to-market strategy.
• Marketing and sales teams must collaborate closely and align their efforts to effectively target and engage the ideal customer profile.
• Great content is essential for attracting and engaging prospects, and events can be a valuable tool for building relationships and sharing insights.
• AI has the potential to transform go-to-market strategies, but accuracy and data quality are important considerations.
• Community engagement and continuous learning are important for staying up-to-date with industry trends and best practices.

Takeaway Quotes from Jon Russo

• "Account-based go-to-market is target account sales with marketing mixed in."
• "ABM has evolved into a go-to-market motion and is less about account-based as a function."
• "You don't know what your white space is. Who do I target? How do I target? Your sellers are kind of going through the morass of their systems trying to piece all this information together and they're losing valuable time."

Check out Jon's website 

LinkedIn: Jon Russo and Ed Marsh

Twitter: Jon Russo and Ed Marsh

Instagram: Ed Marsh

YouTube: @B2BFusion and @EdMarsh

Show Transcript 

Learn more about ABX and Account Based Marketing for Industrial Manufacturers

Chapters

00:00 Introduction and Background
06:02 The Evolution of Account-Based Marketing
13:36 Account-Based Go-to-Market Strategies
28:07 Starting a Business and Frustration with Data
42:17 Common Mistakes in Strategy and Tactics
45:10 The Challenges of Upselling and Targeting
47:00 Nashville's Focus on Technology, Healthcare, and Manufacturing
52:49 Identifying the Ideal Customer Profile (ICP)
56:13 The Importance of a Long-Term Approach
58:23 Starting Small and Building Momentum
01:00:37 The Opportunities and Challenges of AI
01:08:12 Embracing Change and Taking Risks
01:10:49 The Importance of Great Content
01:14:03 The Power of LinkedIn and Continuous Learning

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