At the latest iteration of Contentive’s Revenue Leaders Club, CRO Karl Ghamsari spoke with Shelagh McManus, Senior Director of Marketing, International, at Brightcove. Alongside the approach and marketing strategies Brightcove has adopted, McManus offered invaluable insights on how businesses can weather the uncertain economic climate, including:
Some companies have taken a preservation approach towards the downturn. However, Brightcove has a growth mindset focused on thriving. Indeed, plenty of research and myriad industry experts confirm this is the right approach. But with the added scrutiny of a new CEO, this is easier said than done.
So, what plans have emerged as recession-soothing solutions? Whilst experimenting with account-based marketing (ABM) in 2022, Brightcove realized that there is no silver bullet, and constant iteration and adjustment are imperative. However, in 2023 it is more targeted in its approach. The focus is now on reaching the right people rather than “throwing mud on the wall and hoping for the best.”
“ABM is nothing new,” according to McManus. “It’s all about knowing your customers and understanding your personas.” ABM has given Brightcove a much tighter targeting list and promises to be its route out of the recession. McManus believes organizations can deliver ABM through snackable, personalized content, with, given the nature of Brightcove’s service offering, a particularly high volume of video. This ensures sales have the most relevant content, in the best possible format, to target time-poor prospects who have limited spans of attention.
“Using this type of content is key to engaging the right people, on the right accounts, at the right time. Marketing leaders should ask themselves if their content is truly focused on where the company can make sales. Conversions increase when marketers support sales teams through ABM with this content.”
Having nurtured the relationship between marketing and sales, Brightcove now understands these teams are in the same boat. They share a vision. Objectives are not siloed. Both teams now follow all the leads through the funnel and understand how ABM impacts each lead. This accountability ensures that the marketing team does not see it as ‘job done’ once they have delivered leads to sales.
Moreover, understanding the intent behavior of leads is now Brightcove’s priority. It sets the expectation for a 60% to 70% match against its third party’s ICPs. This subsequently impacts SQL and MQL conversion rates as leads flow through the funnel. McManus also advocates for moving away from leads to MQL funnel metrics and focusing on qualified accounts to ensure an aligned AMB approach where marketing and sales both win.
Just as ABM focuses on quality over quantity, McManus argues that measuring metrics and reporting is now less about the volume and more about sharing the value of the work you have delivered. Ask your stakeholders – most likely, your boss – the metrics they want to hear from you. Learn what matters to them, and the language they want to hear you speak in. You can thereby best shape your reporting. Developing clear communication is important to manage expectations. Ask what is needed to show the full picture of the funnel.
At Brightcove, McManus knows that her VP only needs consistent reporting on a few key metrics, like demand generation data. As the recession increases demands to deliver revenue growth, managing expectations to focus on a more valuable scope of metrics helps alleviate some of the day-by-day pressure on marketing. Moreover, tying these core metrics back to sales helps complete the picture of the funnel, and gives both sales and marketing a better vision of the path ahead.
The Revenue Leaders Club will next meet on Tuesday April 25th.
The Revenue Leaders Club by Contentive is an exclusive community of senior sales, revenue, and marketing professionals from different industries who come together to share their experiences, insights, and best practices. Members have access to a range of benefits, including networking opportunities, exclusive content, and invitations to private events. With a focus on building relationships, enhancing skills, and driving business success, the Revenue Leaders Club is essential for sales, revenue, and marketing leaders looking to stay at the forefront of their field.
Contentive is a fast-growing B2B media and virtual events company with an exciting future. Our purpose is to help B2B tech businesses find the right clients, provide relevant networking opportunities through our growing online communities in FinTech, Accounting, Treasury, HR and Digital Marketing.
Account Based Marketing,Lead Generation