How to Measure ABM and Prove Impact Like a Pro
It’s 4th & goal, with seconds left and the game on the line. How will you make sure you find the end zone and win the game?
For nearly a century, most professional sports franchises measured the same stats, from RBIs and batting averages, to goals and assists, to passing yards and touchdowns. Nothing had changed for years. But then along came modern statistical analysis. It was clear – looking at different stats provided different insight and different results. Better results. Thus, the Moneyball era was born.
B2B marketing is undergoing the same shift. Marketers are re-evaluating the relevance of traditional metrics like click-throughs, page visits, and social shares. Why? Because in B2B marketing, there’s no way to know how a page view influenced the purchasing decisions of the buying committee in a complex deal.
In the modern era of marketing, it’s time for different success metrics. A new way of marketing (i.e., Account Based Marketing) calls for a new way of measuring.
That’s why Engagio teamed up with Radius, InsideView, LeadMD, LookbookHQ and Demandbase for the ABM Analytics Super Bowl virtual event.
In this post, we’ll cover the top takeaways, then give you access to the replays and slide decks.
In this presentation, Jon Miller, CEO and co-founder of Engagio, revealed his brand new book, The Clear & Complete Guide to ABM Analytics. This is the most comprehensive guide for measuring B2B marketing, and it will answer all of your marketing analytics questions.
- Engagement is the most fundamental ABM metric since it answers the key question: Do the right people from the right accounts spend time with our company?
- Journey analytics define stages of customer journeys, track progress toward intended outcomes, and measure key metrics including balance, flow, conversion, and velocity.
- Multi-touch attribution seeks to understand how each interaction contributes to the value of outcomes you care about (often pipeline and revenue).
If you’re not going after the right accounts to begin with, your ABM strategy will fall flat. Shari Johnston, SVP of Marketing at Radius, explains the importance of taking a data-driven approach to your target account list selection.
- Everyone involved in your go-to-market process must be on board with your account selection process, not just sales.
- The whole point of ABM is focusing, so you cannot let the fear of missing out distract you from the task at hand.
- After you find the right accounts, dive one level deeper and find the right contact data.
Do you have a rock-solid understanding of your Total Addressable Market? How can you measure your ABM progress without it? Tracy Eiler, CMO at InsideView, gives actionable ways to set up your ABM program for success.
- ABM is a great forcing function for alignment, and you must be aligned around people, processes and technology.
- The traditional funnel is obsolete. The customer journey looks much more like a figure-eight since you’re maintaining an ongoing relationship with the customer and the opportunity for them to buy more. We must keep continuous engagement with that account
- Here’s how InsideView thinks about account tiering
- Tier 1: White glove treatment, all personalized communications, requires the most marketing/field muscle (Max 30 accounts)
- Tier 2: Medium level of personalization (Max 50 accounts)
- Tier 3: Personalization based on persona or industry only (Remaining accounts)
In this session, Justin Gray, CEO of LeadMD, explores the key measures you need to establish a benchmark prior to embarking on an ABM Pilot. If you can’t show where you’ve been, in an open and honest manner, you’ll never get the buy in, necessary to propel ABM in your org.
- Learn how moving away from waterfall marketing can increase conversion rates by 20x.
- Understand the primary pillars of a marketing benchmark.
- Become an expert at overcoming misalignment using data.
Digital marketing is undergoing a major shift. You need the right data to understand how accounts are truly engaging with your content to succeed. Join Elle Woulfe, VP of Marketing at LookBookHQ, in this session to make sure you don’t fumble on when the game is on the line.
- The big problem is that the metrics we use to measure qualification are very shallow (clicks, form fills, and downloads) – they don’t tell you how truly educated and qualified a buyer is. You know they clicked – but you don’t know if they read. You have no idea if that buyer is better educated and ready to talk to sales than before they clicked. You need to know if they actually consumed the content.
- “Engaged intent” is the single best indicator of sales readiness. A buyer that spends meaningful time with high value content is showing a deep level of interest and intent to buy, and that buying signal is more powerful than any passive click or form-filled data that you depend on today to determine who is qualified. It tells your team once and for all – what is really working.
- Everyone understand the metric of time, and when you can parse out who is spending more time with you, you’re able to identify better leads for your sales team.
ABM takes a new approach with both strategy and tactics. It also requires measuring your performance in different ways. Peter Isaacson of Demandbase addresses common issues and offers practical advice for measuring ABM performance.
- Marketers are often challenged to understand effectiveness because their metrics are tied to different systems – web analytics for traffic, lead management to track behavior, CRM to track pipeline. So they need a way to tie all of these leading metrics together.
- When you consider the campaign metrics and the types of leads you are generating, it is important to consider how these will impact your revenue. You need to look at what sales cares about, so that the organization can be best aligned. Sales need to make sure they are on track to hit their numbers for the quarter and year Having intelligence on how the marketing programs are performing toward these goals, will help them better assess whether they will hit their goals.
- Traditional campaign metrics, while still important for evaluating programs, will become leading indicators of progress toward key business objectives. It is these business objectives which show a substantive change/improvement in the company’s operations and show the ability to bring in revenue.
Thanks again to the pros at Radius, InsideView, LeadMD, LookbookHQ and Demandbase for partnering with Engagio for the ABM Analytics Super Bowl virtual event!