Free ebook: The Big5 Metrics for Account-Based Marketing

Here’s how you should measure account-based marketing: The Big 5 ABM Metrics The rise of account-based marketing is demanding new ways of thinking about marketing metrics. While leads and opportunities are important and even necessary, they are not sufficient to measure account-based marketing (ABM). This is because account-based marketing calls for account-based metrics. (There’s a reason why we call it “business to business”, not “business to lead”!) Going after target accounts doesn’t leave a lot of room for marketing to deliver value by generating new leads, and the larger and more complex the deal, the less we can measure marketing in terms of marketing sourced pipeline. That’s why we need a new and different mindset for how marketing claims victory in ABM; it’s why marketers need to embrace the Big 5 Metrics for Account-Based Marketing: Coverage: do you have sufficient data, contacts, and account plans for each target account? Awareness: are the target accounts aware of your company and its solutions? Engagement: are the right people at the account spending time with your company, and is that engagement going up over time? Program Impact: are marketing programs reaching the target account, and are they having a long-term effect? Influence: how are the ABM activities improving sales outcomes such as deal velocity, win rates, average contract values, retention, and net promoter scores? Checkout our 12-page ebook The “Big 5” Metrics for Account-Based Marketing to learn all about how to get started with these metrics in your organization!

First 3 Pages

The Big 5 Metrics for Account-Based Marketing Jon Miller, CEO and founder of Engagio Introduction The rise of account-based marketing is demanding new ways of thinking about marketing metrics. While leads and opportunities are important and even necessary, they are not sufficient to measure account-based marketing (ABM). Marketers need to embrace these Big 5 Metrics for Account-Based Marketing: Coverage: do you have sufficient data, contacts, and account plans for each target account? Awareness: are the target accounts aware of your company and its solutions? Engagement: are the right people at the account spending time with your company, and is that engagement going up over time? Program Impact: are marketing programs reaching the target accounts, and are they having a long-term effect? Influence: how are the ABM activities improving sales outcomes such as deal velocity, win rates, average contract values, retention, and net promoter scores? Account-Based Marketing Defined Account-based marketing is a strategic approach that coordinates personalized marketing and sales efforts to open doors and deepen engagement at specific accounts. It is a different approach to marketing. Traditional demand generation is like fishing with a net: you put your campaign out there, and you start catching ‘fish’. It doesn’t matter which specific fish you catch, as long as you catch enough fish in total. But when going after target accounts, you can’t wait around for them to come into your net – you need to go after the “big fish” with spears and harpoons. That’s where ABM comes in. Part 1: Why Account-Based Marketing Needs Different Metrics Account-based marketing is a fundamentally different approach, and it requires fundamentally different metrics. Account-based marketing calls for account-based metrics When you celebrate closing a deal, you write the company name on the whiteboard, not the name of the person who signed the contract. A sales person never talks about how many leads they’ve closed – they talk about how many accounts they’ve won. That’s why it’s not sufficient to measure your B2B marketing by counting people. It’s called “business to business” not “business to lead” ABM is about quality, not quantity If you are a sales rep with only 20 accounts, you are thinking about those 20 accounts all day long. You already know many of the people in those accounts, and ideally you have contact data for those you don’t. This doesn’t leave a lot of room for marketing to deliver value by generating new leads. Instead, marketing needs to create influence with the people who matter. That’s a new and different mindset for how marketing claims victory. Marketing can’t wait for closed revenue to measure success The longer the sales cycle, the more we need metrics to understand what’s going on as it progresses. This is especially a challenge in ABM, since the larger the deal, the longer the sales cycle. That’s where engagement comes in. By tracking how the right people at an account engage with your brand over time, marketers have a quantifiable way of showing development through a potentially long process. In ABM, marketing supports and influences pipeline creation The larger and more complex the deal, the less we can measure marketing in terms of marketing sourced pipeline. Instead, account-based marketers need to show their impact on revenue by demonstrating how well they influence deals and improve key business outcomes such as win rates, deal velocity, and average contract value (ACV). “You can’t wait a year to see results [in ABM]” – Megan Heuer of SiriusDecisions