Since 2004, Brightcove has been a pioneering force in the world of online video. As a SaaS company, Brightcove’s growth is fueled by new customer acquisition, existing customer renewals, and existing customer expansion. Traditional inbound marketing efforts were not enough so to the company turned to account-based marketing and Demandbase.
In this video, VP of Demand Generation (promoted from Sr. Director), Chris Bondhus shares how Brightcove uses Demandbase to see outstanding results through analytics and personalization.
Since 2004, Brightcove has been a pioneering force in the world of online video. The company believes in video’s unmatched power to educate, inspire, entertain, and communicate. Brightcove helps thousands of customers, in 70 countries, use video to move their business in meaningful ways, whether that’s in broadcasting, publishing, marketing, or enterprise communications.
As a SaaS company, Brightcove’s growth is fueled by new customer acquisition, existing customer renewals, and existing customer expansion. Traditional inbound marketing efforts were not enough so to the company turned to account-based marketing and Demandbase.
With the executive team committed to adopting an ABM strategy, Sales and Marketing worked closely together to:
Creating a target account list is always the first step and must be done collaboratively with sales. Brightcove’s approach looked like this:
1. Baseline, Build, Iterate – Once Brightcove sales and marketing teams had agreed on
a starting list of companies, they needed to refine, prioritize and segment that list for campaigns. The demand generation team leveraged Demandbase Analytics to get a baseline of activity from the starting list. Demandbase Analytics determined which accounts visited and engaged with Brightcove’s site. Perhaps more importantly, Brightcove could
see which companies on their starting list had not visited the site. Armed with these new insights, Brightcove modi ed the starting list accordingly which then became the target account list. The target list is re-evaluated every quarter with companies added or removed as needed.
2. Launch Account-Based Advertising and Personalization – With a data-driven target account list, Brightcove then turned to Account-Based Advertising. They segmented and delivered unique, industry-specific messages personalized for each company based on whether the account was a customer or prospect. Only the companies on their target list received the ads, eliminating wasteful spending. The advertising provided “air cover” for other ABM centric programs such as email, social, direct mail, webinars, and events.
3. Instill ABM priorities – Prioritizing accounts based on their status helped Brightcove identify compelling opportunities. SDR outbound activities and inbound follow up are influenced by whether an account is a named targeting account or not. Every other week the SDR and demand generation teams meet to review ABM territory dashboards, advertising performance, list adjustments, and campaigns. On a monthly basis, stakeholder meetings are held with key executives providing updates and status.
Within 12 months Brightcove has seen significant pipeline growth with nearly 40% of its new business pipeline coming from ABM target accounts. Another benefit has been better alignment between sales and marketing, particularly with the SDR team. The SDR team recognizes the focus and intelligence ABM provides, which enables them to better focus their time and effort. The demand generation team can better measure ROI of program spend knowing that sales is aligned with marketing’s outreach.
One program that demonstrates the power of ABM was the “Meet your Account Manager” campaign. Brightcove combined video, account-based advertising, personalization, email, and social to introduce Brightcove’s account manager to new contacts within existing customer accounts. The campaign generated 86 meetings and over $200k of expansion opportunity pipeline.
In addition, account-based advertising in general drove signi cant lift in both customer and prospect accounts.