David Ogilvy was far ahead of this time. He was known as the King of Madison Avenue. Though often viewed by his peers as eccentric (and even bizarre – he was known to wear capes to board meetings), he got many things right. One particular quote that still stands out and is applicable in today’s B2B word is this:
“Don’t count the people you reach; reach the people that count.”
Traditional demand gen has been about reaching more people. However, when we take an account based approach, we want to reach the right people. After all, measuring Account Based Everything requires us to look at marketing metrics in a new light. It’s a fundamentally different approach that requires fundamentally different metrics.
In the recent past, we’ve gotten drunk on inbound. “Content shock” has caused declining return. Don’t get me wrong – inbound marketing should still be part of your revenue machine. However, you need to make sure it’s not the only part. In the early days of Marketo, all I had to do was write a good blog and we’d would show up on the first page of Google for that topic. Inbound was so effective that marketing sourced nearly 80% of the sales pipeline.
As you know, times have changed. Now that we’re operating in an account based world, understanding the new metrics of your ABE efforts will lead to better performance and more converted pipeline. It’s not enough to only measure top of funnel marketing efforts since marketers are taking more revenue responsibility and influencing opportunities later in the sales cycle.
As a refresher, measurement of ABE can be broken down into 5 key metrics:
In this article, we’ll dig into the three components of measuring reach.
Measuring Reach in ABE
When considering the effect of your program, ask if you are reaching the people who count. Are efforts reaching target accounts? How much waste is there?
Every marketer wants to know which programs are working. But, historically, it’s been hard to understand which programs do the best job of reaching your specific named accounts.
Use these three additional program metrics to track ABE success:
A success is defined for each program channel. For a webinar, success is attending the event; for a content program, it is downloading the content; and so on. (Your definitions may vary.) Once successes are defined, track the number of successes that each program has at your target accounts.
Measure the percent of target accounts that have a success in a given program. This metrics determines how broadly the program is reaching your target accounts.
This is the percent of all program successes that come from your target accounts. It is a measure of how efficiently the program reaches just your targets (or inversely, how much “waste” the program has in terms of reaching non-targets). In general, programs with good coverage and/or good focus will do a better job of achieving your Account Based Marketing goals.
Measuring Reach in Account Based Everything
Putting this into action
Say you ran a webinar with 500 total attendees, and of those, 50 attendees work at companies that are target accounts. Now, since individual attendees may work at the same company, let’s say that those 50 attendees come from a total of 25 different accounts. Finally, let’s say that you have 100 total target accounts. In this case, your metrics are:
- Successes: 50 (individual attendees from target accounts)
- Coverage: 25% (25 accounts with a success, out of 100 total)
- Focus: 10% (50 attendees from target accounts, out of 500 total)
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