Account based marketing is gathering attention from many B2B marketers this is for certain, also the demand for it is grabbing an excellent pace. According to a few studies by researchers, 80% marketers says it enhances customer relationship values.
New technologies are evolving the game of ABM market. There are lots of latest technologies coming to your knowledge every other day, many adopt, implement, and grab the desired results whereas few remain in the dubious state whether to adopt or not and this makes them left behind the race of marketing and lead generating.
These technologies are meant for you to ease your business, identify the audience, advertise to potential customers. But measuring and attributing is not that easy, it requires strong analytics skills and of course a strong mindset to understand the market.
Before moving forward with Tracking or measurement points lets know the basic definition of Account Based Marketing.
6 Powerful Account-Based Marketing KPIs to Track
Table of Contents
If you are reading our blogs scrupulously you must have known that when we talk about ABM, the first thing that catches our minds is Sales and Marketing team collaboration.
This aspect plays a very vital role in measurement and optimization, especially when it comes to tracking Account-Based Marketing ROI.
By working together, sales and marketing can ensure their efforts are aligned and effectively driving revenue from target accounts.
In optimization, the cardinal point is about feedback from the sales team. This feedback is crucial for refining your account-based marketing framework. If you are running an ABM campaign, you should continuously knock on the sales team’s door for feedback.
Ask your sales team to monitor the key accounts and report which account has better penetration to uphold your business or goal.
You should state your business goals clear and crisp. This will help you decide your metrics to track, depending on whether you pursue an ABM vs demand generation strategy.
ABM focuses on nurturing high-value accounts, while demand generation aims at attracting a broader audience. Below mentioned Account-Based Marketing KPIs are the ones which are popular and best to start with, though they vary industry to industry.
1. Marketing Qualified Accounts (MQAs)
Try adopting the MQA’s rather MQL’s. The conventional measurements of ABM are obsolete. When we say MQL it identifies single quality lead, whereas, MQA’s refers to the whole account which can be considered to go for sales. MQA’s deliver a comprehensive sketch of the prospective.
After you gather the Ideal Customer Profile, it is time to set metrics to qualify the particular account. Do not hesitate to drop the account if it does not fit into your qualification criteria, because pliability is vital in many cases.
Must Read: Top 5 ABM Trends For B2B Marketers – A Pathway For Future
2. Engagement
Engagement is the much-discussed topic on the internet, still the most nebulous one. This metric should express or quantify the targeted accounts.
Clicks on the advertisement or visits on your webpage are the general and effective way to measure your ABM performance.
This should not be limited to a single qualified lead (Sales qualified or Marketing qualified) but, across the whole account.
There are numerous tools available in the market to measure the ‘Account Score’ this is possible because of revolutions in way of working. You can also take help from such tools to track and analyze engagement ratio.
3. Reach
Have you updated your list with the New Contacts? This is an excellent way to measure your ABM campaign. By leveraging ABM intent data, you can further refine your targeting and identify high-value contacts within your target accounts who are exhibiting buying intent.
This allows you to observe your success not only by the number of new contacts you develop but also by the increased engagement and sales-readiness of those contacts.
This is a useful metric to keep an eye on your campaign. Rather than monitoring the engagement of a person, you can get a magnified view of the whole account.
4. Channel Speed
It is indeed important and interesting to observe the sales cycle velocity of Account-Based Marketing strategy to a conventional lead nurturing campaign.
A very first point is to track the median time. With targeted messaging, Account Based Marketing should move customers down the conversion funnel.
Must Read: Account Based Marketing: A Game Changer Of Marketing World
5. Conversion Rates
It is crucial to know which accounts drop into the sales funnel at what stage. Understanding the different types of ABM (strategic, account-based marketing lite, or programmatic) can help you define clear entry points for these accounts. Measuring the conversion time is a tedious task when this visibility is lacking.
Hence, set the parameters for each stage of the funnel to get a clearer view of the movements inside the funnel. General tracked goals include target accounts converted as customers, opportunities created, and meetings booked.
6. Evaluate Marketing Influence
This lets you know your impact in the market. Your marketing activity, is it influencing your sales? B2B sales are referred to as a tangled topic which can be resolved with a smart sales cycle plan. You should know that there is no single touch-point that will conclude your sales and marketing process.
It requires a deep understanding at each stage of the sales and marketing process to influence the results. To evaluate the marketing influence simply bifurcate data on sales which were influenced by marketing and that weren’t. Now time to, analyze, and conclude.
Must Read: Top 5 Secrets To Generate Great Revenue With Account Based Marketing
Final Words
The Account-Based Marketing KPIs mentioned in this blog will help you channelize your business and grow your revenue. But before you dive in, consider exploring account-based marketing content syndication as a potential tactic.
By strategically placing your content on platforms frequented by your target accounts, you can increase visibility and engagement, ultimately influencing their buying journey. Remember, the KPIs you choose may vary industry to industry.
So, study your company’s specific goals and feel free to create your own unique approach to tracking success. Try and let us know in the comment section below. We will be happy to hear from you!
Vikas Bhatt is the Co-Founder of ONLY B2B, a premium B2B lead generation company that specializes in helping businesses achieve their growth objectives through targeted marketing & sales campaigns. With 10+ years of experience in the industry, Vikas has a deep understanding of the challenges faced by businesses today and has developed a unique approach to lead generation that has helped clients across a range of industries around the globe. As a thought leader in the B2B marketing community, ONLY B2B specializes in demand generation, content syndication, database services and more.
