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!