This picture evokes a flood of emotions and what if’s. I see the fearlessness and the danger, the possibility to succeed, the risk and so much more. To me, being an entrepreneur is a little like walking a tightrope. So much to consider, and so much to balance at any given time. You almost have to be a ninja in disguise.
And the noise, the endless noise of what we ought to do at times is overwhelming. In business, as in life, there is so much noise in the marketplace. At times it’s hard to decipher what’s working and what’s simply hype. For many entrepreneurs FOMO (Fear Of Missing Out) is a factor in both their decision and what they implement.
As an outcome-based thinker, I determine whether something is an antic or tactic, and if it produces results. An antic to me is more of a trend, whereas a tactic is something that meets my objective and will produce results. When considering a new initiative, I do the ‘so what’ test, meaning does is serve our tribe and mission. If not, then I don’t implement.
As an entrepreneur, we must be discerning.
You cannot possibly implement every idea, nor should you. However, it is important to be aware of what’s going on in the marketplace so that you can adjust your sails when the winds change.
Account-based marketing (ABM) is the newest marketing speak initiative.
ABM, as I see it, is simply a newly dressed version of CRM (Customer Relationship Management). My background and experience is entrenched in CRM and, sales and marketing. And I love CRM focused initiatives.
When incorporated properly it is a comprehensive system designed to serve consistently, and involves every touch point in your business. From solopreneurs to large corporations, every company shouldinclude a CRM strategy.
Like CRM, the ABM initiative seeks to create long-term relationships with customers, which in turn creates results-based outcomes for companies.
And like CRM, with ABM the strategy recognizes that the ideal client is driving the results for the company. Companies utilizing this strategy, or a variation thereof use a pull rather than push strategy in the marketplace. Creating a consistent pull strategy requires content, products, and services that pull clients, and generate information to clearly identify their needs. This, in turn, allows the company to serve the best of what they have to offer. It is the single point from which the marketing strategy flows.
Therefore, ABM incorporates and creates programs that generate demand in the marketplace while creating long-term profitable and sustainable relationships with customers.
Whether you are an: homepreneur, mompreneur, solopreneur, entrepreneur or a large organization the goal is the same – to serve the best of what you have to your ideal clients.
When considering an initiative, be sure to factor in the complete integration of sales, operations, and marketing in your plan.
An effective ABM/CRM considers this:
1. Communications and products that serve your top 20 percent of your customer base. This is critical because these are your people. If you have not yet identified them, do not implement a CRM strategy.
2. All touch points: branding, packaging, sales, accounting, product delivery, social media, strategic alignment and external partnerships. As T. Harv Eker said, “how you do anything is how you do everything.”
CAUTION when aligning with other companies, many a well-intentioned entrepreneur has inadvertently aligned with a company whose values do not match, only to be painted with the same shame on your brush when the $hit hits the fan. Consider the socially conscious entrepreneur who speaks of environmental responsibility, and aligns with a company for sponsorship that does not hold the same values. Unless the alignment matches the values of the socially conscious entrepreneur, this can be disastrous. Being out of alignment creates a question in the customer’s mind.
3. For ABM and CRM to be effective and impact your customers requires collaboration and community first. Social media plays a significant role in driving the message of the company, adding value through content and posts that serve. Again the rule of 80/20 applies. 80 percent is serving others in posts, articles and acknowledgment of others. 20 percent is a lifestyle or personal posting with purpose. Many of you know I love pie, Eggs Benny, and my puppy – Mia. When I post about pie, I post with three purposes in mind:
- As a shout out to the local business.
- To bring smile or create conversation.
- To share a little about my guilty, yet actually guiltless pleasure.
Albeit a broad overview of ABM or CRM, the above are key elements to consider.
Results require commitment and focus. If you’re ready for a different outcome in your business, join us.
Simply put if you want a different outcome, for the love of all that is holy, do something DIFFERENT!
“If you want to move to a new level in your life, you must break through your comfort zone and practice doing things that are not comfortable.” – T. Harv Eker
PANTS ON FIRE!
