Account Based Marketing requires a change in strategies, budget allocation, and processes. Once you’ve put them in place, you may wonder how you can evaluate the effectiveness of this new marketing approach. Here are some key indicators to consider when trying to assess ABM’s success.
Account Engagement
ABM focuses on account level behavior rather than individual leads. You’ll still track click through rate, attendance to events and webinars, buyer’s journey and content analytics, but on the account level.
Pipeline Velocity
Measuring the time it took to close a deal is an accurate indicator of ABM success. How quickly were prospects identified? Was the overall process of moving accounts through to sales faster? How long did the entire journey take from first engagement to opportunity and subsequently to a closed won deal? All of these are factors to consider when measuring pipeline velocity.
ROI
Just like any other initiative, ROI is good way to determine whether your efforts are paying off. However, it’s important to keep in mind that the ROI on ABM campaigns will not be immediate due to ABM’s nature of being a longer process of nurturing and tailoring content to prospects and existing accounts.
Conversion Rate
ABM should increase the number of accounts that progress to the next step in the sales cycle. There are many different parameters to evaluate this stage. Some of which are: the number of accounts converted to customers, meetings set with prospects, and opportunities created. Having face to face meetings are likely to positively impact the continuation of the engagement with the targeted account.
Deal Size
ABM is expected to increase deal size due to the precision and accuracy of the content generated, in addition to the length of the entire project. Average deal sizes are approximately 35% larger for both smaller and bigger companies using ABM.
There are additional factors to measure the success or failure of ABM initiatives, but the KPIs above are a good starting off point.
In our recent episode of the "ABX & Cocktails" podcast, Ben Rotenberg, Head of Growth at Classiq—a quantum computing software company—joined Read more...
In the fast-paced world of tech companies, scaling a B2B marketing function from zero to impactful can seem like an impossible challenge. Yuval RamsoRead more...
In our recent “ABX & Cocktails” episode, Dmitry Bergelson and Oleg Sobolev, founders of Extrovert, shared a game-changing approach to sales eRead more...
Leveraging intent data has become a game-changer for enterprise sales teams. Our recent podcast and webinar featuring Kfir Pravda, CEO of PMG, and RoRead more...
Getting the buyer journey right is important, especially with all the changes in B2B marketing that have cropped up in recent years. In our recent "ARead more...
Measuring Account Based Marketing Success
October 9, 2017
Farrah Fidler
Account Based Marketing requires a change in strategies, budget allocation, and processes. Once you’ve put them in place, you may wonder how you can evaluate the effectiveness of this new marketing approach. Here are some key indicators to consider when trying to assess ABM’s success.
Account Engagement
ABM focuses on account level behavior rather than individual leads. You’ll still track click through rate, attendance to events and webinars, buyer’s journey and content analytics, but on the account level.
Pipeline Velocity
Measuring the time it took to close a deal is an accurate indicator of ABM success. How quickly were prospects identified? Was the overall process of moving accounts through to sales faster? How long did the entire journey take from first engagement to opportunity and subsequently to a closed won deal? All of these are factors to consider when measuring pipeline velocity.
ROI
Just like any other initiative, ROI is good way to determine whether your efforts are paying off. However, it’s important to keep in mind that the ROI on ABM campaigns will not be immediate due to ABM’s nature of being a longer process of nurturing and tailoring content to prospects and existing accounts.
Conversion Rate
ABM should increase the number of accounts that progress to the next step in the sales cycle. There are many different parameters to evaluate this stage. Some of which are: the number of accounts converted to customers, meetings set with prospects, and opportunities created. Having face to face meetings are likely to positively impact the continuation of the engagement with the targeted account.
Deal Size
ABM is expected to increase deal size due to the precision and accuracy of the content generated, in addition to the length of the entire project. Average deal sizes are approximately 35% larger for both smaller and bigger companies using ABM.
There are additional factors to measure the success or failure of ABM initiatives, but the KPIs above are a good starting off point.
To learn if Account Based Marketing is right for your organization, take our ABM Assessment.