In the past 5-10 years, B2B CMOs around the world have made great strides in improving marketing analytics. But, with the rise of Account Based Marketing (ABM), B2B marketers need new metrics to guide how they measure and prove their results.
That’s why I’m excited to share the ALL NEW Clear and Complete Guide to ABM Analytics, a new resource designed to help B2B marketers understand everything they need to know about ABM analytics. Here’s a brief summary of what’s in the full, 158-page book. Don’t miss out!
- What are marketing analytics, and why are they important?
- Why is ABM important and how are ABM analytics different?
- What best practices form ABM analytics’ foundation and framework?
- How can marketers measure engagement?
- What are the key leading indicators to show progress towards revenue during long ABM sales cycles?
- What are various methods to measure program ROI with an account-based lens? What are pros and cons of each?
- How can companies best report metrics across the company?
- What’s the best way to crawl, walk, and run with ABM analytics?
Read on to learn some of the key ideas contain in the guide.
Great ABM Requires Great ABM Analytics
Great marketing requires great analytics. Consider the hard benefits delivered by good analytics, according to Forrester Research:
- More: Generate more of the right kinds of leads and accounts — 30% or more at the top of the funnel
- Better: Improve quality of leads and accounts — as seen by up to 43% higher conversion rates through the funnel
- Cheaper: Avoid program costs by reducing investment on ineffective programs — up to 36% reduction
- Faster: Reduce labor costs by automating manual processes — moving two full-time equivalent (FTE) employees to other value-add activities
Plus, strong analytics bring soft benefits, allowing you to:
- Prove marketing’s value. Show Marketing’s true impact on revenue.
- Align marketing and sales. Alignment comes when Marketing uses analytics to quantify influence on outcomes that matter to Sales.
- Optimize execution. Hone Marketing’s ability to make better business decisions, increase team and campaign productivity, and allocate the right investments.
- Earn dollars and headcount. Protect (and often, expand) the Marketing budget.
- Make faster, better decisions. Good decisions are good, but they’re even better when made faster.
But, ABM analytics are different than traditional demand generation analytics. While leads and opportunities are important and necessary B2B marketing metrics, they are insufficient to measure Account Based Marketing:
- ABM requires account-based metrics. Enough said.
- ABM occurs at every stage of the funnel, unlike lead-based metrics which are overly focused on net-new business creation.
- ABM takes time to show results, meaning you need metrics that show real progress within big, complex deals throughout their sales cycle.
- ABM metrics are about quality, not quantity. Make sure that your organization understands that as you focus more effort on the right accounts, quantity-based metrics (such as leads) may go down.
Download The Clear and Complete Guide to ABM Analytics for specific ways to understand what’s working, and what’s not, in Account Based Marketing.
What Metrics Matter in ABM Analytics?
There are three main categories of ABM analytics:
- Engagement: Am I creating and deepening relationships with target accounts?
- Journeys: How do accounts move through buying journeys to desired outcomes (e.g. pipeline and revenue)?
- Attribution: Which marketing activities work? What is the return on investment of my marketing programs’?
Engagement analytics measure relationship quality, not quantity. They answer one, fundamental question: Are we creating and deepening relationships with target accounts?
To measure how you’re creating and deepening relationships, measure where target accounts spend time, as well as how engagement increases over time. Don’t just look at web data; drill into all activities, including attending events and taking sales meetings.
In a perfect world, we’d only need to measure revenue. It’s the one metric everyone agrees on. But while revenue is the holy grail, ABM also requires leading indicators to show progress during long sales cycles. For this, B2B marketers define stages of the account journey and measure funnel dynamics using the key metrics of balance, volume/flow, conversion, and velocity. These leading indicators show when, how and why target accounts become aware, engaged, qualified, closed, and more.
Fundamentally, these kinds of ABM metrics answer one question: How do accounts move through the buying journey to produce outcomes we care about?
Perhaps the most common marketing question is, “did my programs have an impact?” ABM practitioners also use attribution analytics to make better decisions about budget allocation. By investing in highest-performing programs, they maximize overall return by answering one fundamental question: What is the return on my marketing investment?
We show you how to answer all these questions and more in The Clear and Complete Guide to ABM Analytics.
Warning: Traditional Tools Don’t Cut it with ABM Analytics
ABM technology is on the rise (we should know!) because companies are finding existing marketing technologies create roadblocks for the analytics needed in ABM.
- Limitations of CRM – as powerful as it is, Salesforce has serious limitations for ABM analytics. It lacks a complete view of Marketing activity and is missing key historical data, preventing B2B marketers from tracking customer journeys.
- Doing it yourself – ABM data are so spread across disparate systems that DIY approaches almost always cost more time and money than true ABM analytics technology.
- Marketing automation – MAP tools are ineffective for ABM analytics.They are too focused on leads and net-new business, they can not provide a complete picture of account engagement, and they often feature ABM and attribution modules as an afterthought, not their core competency.
- Business Intelligence tools – BI systems are not designed for comprehensive ABM analytics. They require costly, dedicated resources, training, and depend solely on the data you’re able to assemble yourself.
Download the full guide for more advantages of a dedicated analytics solution, what to look for in an ideal ABM analytics partner, and a checklist to help guide your decisions in ABM technology.
A Chorus of Voices in ABM Analytics
It takes a village. Clear and Complete Guide to ABM Analytics features advice from many of the leading voices and experts in B2B marketing, sales, technology, and analytics, including:
“Good ABM metrics enforce honesty. Without checks and balances, self-interest prevails.”
— Joe Chernov, CMO at InsightSquared
“Often, results are counterintuitive; what works best was unintended. A good analytics strategy illuminates optimal performance mix.”
– Matt Heinz, President at Heinz Marketing
“The sales and sales development team are our [Marketing’s] customers. But ultimately, our customer wears the sales belt. With ABM analytics, sales, sales development and marketing orchestrate strategies that align to their needs.”
– David Pitta, CMO at BrightTalk
“If you believe ABM success is measured only on lead volume… think again.”
– Megan Heuer, Vice President, Research at SiriusDecisions
“It can be frustrating and demotivating to work without ABM analytics. [But] what’s really exciting is the data is at our fingertips. Marketers are now empowered to be analytical and curious, quickly pushing conversion in target accounts.”
– Meg Goetsch, VP of Revenue Operations at JW Player
“Best-in-Class marketers serve business people first, enabling them to maximize Marketing investments.”
– Laura Patterson, President at VisionEdge Marketing
“Analytics are the backplane to
a) define Marketing and Sales’ value, and
b) make sure invested dollars and energy add value to the business.”
– Terry Flaherty, Senior Research Director at SiriusDecisions
“Prove marketing impact on key metrics, don’t just report them.”
–Jim Lenskold, President of Lenskold Group
Plus many more… Download the full Clear and Complete Guide to ABM Analytics and get access to volumes of insight and tips for making the most of your investment in ABM.
- Why great marketing requires great analytics
- Ways in which ABM metrics are different
- A comparison of the many styles of account based marketing
- The right, and wrong, ABM metrics
- Steps to building an ABM foundation
- Specific account analytics you should measure today
- What journey analytics matter to ABM success
- ROI analytics and attribution, explained
- How to bring analytics together
- What steps to take to get started
Trust us, you don’t want to miss this one. Download today.