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Baker Hughes - 1,300% Increase In ROI With Account-Based Marketing

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“Pound for pound, the strongest performing campaign in our portfolio…from skepticism… to reinvestment based on performance proof.”

Ryan Almond, ABM Global lead

The Outcome

  • 600+ Leads generated (downloads)
  • 500+ New Contacts
  • 100+ Marketing Qualified Leads
  • 11 Opportunities generated
  • 3 Closed Won Deals

In addition to these wins, Baker Hughes saw an increased alignment among its sales teams thanks to significant training that included how to gather real-time intelligence and drive personalized out-reach. Tools like Sales Navigator, 6Sense, and Zoominfo were used to gather intelligence. This intelligence allowed the Sales team to have the confidence to know when and how to reach out in priority order of accounts, using social media, email, and/or phone.  We delivered a 1,300% increase in ROI in less than 12 months.

Baker Hughes and BusinessOnline built a very successful relationship. We were able to help support Baker Hughes as a true extension of their corporate marketing team: We reported all the way to the CMO and included stakeholders from their marketing ops, product marketing, sales, IT, and design teams. These strong relationships allowed us to align all levels of the company on project plans and fully execute on campaign work.

The Challenge

Baker Hughes faced two main challenges. First, their product and sales teams were targeting the same buying committees with multiple messages that were product-focused, not solution-focused. As a result, their core personas were all seeing messages that were not connected and did not show Baker Hughes as a suite of key solutions to their pain points. Second, marketing wanted to prove the viability of ABM or account-based marketing as the core strategy to generate new business and be able to scale that across the organization.

At the core of this initiative was the necessary desire to align Marketing, Sales, and Operations functions more closely to implement more personalized experiences for the target audience. ABM had not been done, or done successfully, at Baker Hughes within this business before. There was an element of convincing cross-functionally that this could work to generate contacts at key accounts that Marketing influenced -- and to do that at scale.

Our objective was to target and penetrate markets in Europe that were new and nontraditional verticals for Baker Hughes. Specifically, we wanted to target automotive companies with Baker Hughes’ additive manufacturing solutions. Other verticals would go on to include aviation and food and beverage.

Metrics assigned as KPIs included MQLs, sales assigned leads, SALs, opportunities, and closed/won deals. These were all connected and visualized via a central reporting tool. The end result was meant to show the effectiveness at driving leads at top of the funnel, velocity/penetration of nurture towards sales conversations, and closed/won revenue attributed to the campaign.

The Strategy

From the start, we introduced a process for kicking off campaigns and aligning key functions within the organization. We worked with the Baker Hughes corporate marketing team to get campaign buy-in and alignment from the product marketing and sales teams.

Key stakeholders from each function were made part of the process and aligned on the key messaging, ICPs, pain points, and KPIs, as well as how leads are passed from the marketing to sales teams. One of the keys to this program being successful was creating the right target account list (TAL) and finding the right contacts. We began by focusing on one industry and the ten largest accounts in that respective industry. Using metrics like company size, revenue, and location we defined our ideal customer profile (ICP) and uncovered key information such as job titles and locations for contacts at our ideal customers. We then built a sophisticated algorithm to sift through thousands of records to narrow down leads and contact lists and created our TAL. This algorithm allowed us to target contacts with a wide variety of relevant job titles.

We used a series of ebooks and infographics to introduce the solution and nurture leads through the buying funnel. The goal was to align the thinking of our contacts around how additive manufacturing can help them and why Baker Hughes products are the best solution. We customized all content to the automotive industry and to the appropriate funnel stage.

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Baker Hughes is a leading energy technology company with operations in more than 120 countries and 55,000 employees worldwide. They are one of the world's largest oil field services companies and also provide process and digital solutions for the energy industry.

500+
new contacts
100+
MQLs
11
opportunities
3
closed/won deals
1,300%
increase in ROI
Services
Integrated campaign
Lead generation
Website development
Creative design
Content creation
Contact Our Team

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