Building and Measuring Success in an Account-Based Framework with Pat Oldenburg, Vice President of Demand Generation at Motive

Building and Measuring Success in an Account-Based Framework with Pat Oldenburg, Vice President of Demand Generation at Motive

Pat Oldenburg, Vice President of Demand Generation at Motive

Pat Oldenburg, Vice President of Demand Generation at Motive, joins Rachael to discuss how to set up the foundation for an account-based framework, what metrics you should measure, and why marketers need to work closely with sales to succeed.

Pat is a revenue marketing leader experienced in managing globally dispersed teams and developing demand generation and operational strategies for businesses.

He brings over fifteen years of experience in the marketing industry, from previously as a Customer Reference Manager, Marketing Manager, and Director of Marketing Operations to now as the Vice President of Demand Generation.

Before his current role, Pat was the VP of Demand Marketing at ServiceMax, responsible for driving awareness in the market, sourcing pipeline, and improving win rate and velocity through various online and in-person marketing tactics.

Key Highlights:

5:19 – 8:28 – Differences in the Team and Capabilities to Support a New Go-to-Market Model – Pat joined Motive to build out an Account-Based framework to expand upmarket. SMB is the core of the business, so while they continue to focus there, they will expand build out a new GTM, which means two different funnels with two sets of KPIs. While there are some common metrics like revenue and expansion, the account-based framework requires more focus on solid and complete account data, without duplicates and good hierarchy, territories and lead-to-account matching which is critical to make sure the right lead gets to the right place quickly. Keeping the data up is an iterative process that requires cross-functional operations teams agree on and adhere to.
8:29 – 10:16 – Determining the Initial Foundation of Accounts – First, the team looks at the defined verticals they sell into. Then, check the market potential and penetration rate, the product-market fit, and then stack rank them. DG works across product marketing, product management, and marketing to create an integrated campaign effort to target the set of accounts per vertical and by persona with emails, digital re-targeted and sales cadences. Pat and his team have a prescriptive process for enabling sales one vertical at a time. Eventually, they will build up the playbook of every applicable industry.
10:17 – 12:29 – A Big Change! – An Account Funnel requires a different set of metrics than the traditional lead-based funnel. Tracking MQLs is not effective. As you move upmarket and into larger deal sizes, there are more people involved in every deal and ultimately just one Opportunity. It’s important to track everything at the Account level and measure apples to apples.
12:30 – 17:42 Nurturing Buying Groups – While sales is working with multiple people in an Opportunity, Marketing continues to nurture influencers and decisions makers who are not part of the buying committee, with value-based and persona based content on a regular basis. Then they send out the engagement insights to the selling teams to help understand where the account is in their evaluation cycle, which also allows them to be more predictable with revenue and forecasting.
17:43 – 27:59 – Tracking and Measuring Key KPIs – For account-centric metrics, Pat measures account engagement trends, how many prioritized accounts have opportunities, the MQA status, SLAs, pipeline coverage, conversion rates from key stages, days to close, and days in a stage. Demand Generation, Marketing Ops and Sales Ops have a strong partnership and meet regularly to stay aligned to projects, initiatives and the techstack roadmap.
28:00 – 30:56 – Tips for Success – Building a successful Account-Based motion is a marathon, not a sprint. There’s a roadmap and checkpoints to get there. Don’t rush through the process and make sure you talk to a lot of people to document and determine the capabilities you need. When implementing new technology, you have to have a good implementation plan to manage the complexities and amount of data flowing in and out. Finally, a great enablement plan to get the sellers excited. Marketing doesn’t win if sales doesn’t buy in!

Who Would Pat Like to Take For Lunch?
Michael Parry, Head of Sales Operations at Observe.ai

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“We need to think about metrics differently. There’s research done about the size of the buying centers as your deal size increases, sub $50k ACV on average, there are seven people in the buying center. As you’re looking at over $250k ACV, there are almost twenty people involved. And for that reason, one of the very important points we’re trying to share across the organization is that tracking MQLs when we’re thinking about an enterprise deal is not effective, it’s actually, as we go upmarket increasingly, it’s going to be a losing battle because there’s more people involved in every deal. Out of all those MQLs, there’s just still one opportunity. That’s why it’s very important that we track everything at an account level and we measure apples to apples when we’re thinking about the upmarket sales and marketing KPIs.”

Pat Oldenburg, Vice President of Demand Generation at Motive

“It is the most important thing. I’ve learned throughout my career that there’s no way to win in marketing without sales buying into what we’re doing on the marketing side.”

Pat Oldenburg, Vice President of Demand Generation at Motive