Running a Successful ABM Campaign: 7 Must-Watch Metrics
Has your organization failed in the process of adopting an account-based marketing strategy? If so, then you will also need to change the way you measure the success of your marketing efforts.
Below, our experts have outlined 7 must-watch KPIs or key performance indicators that can provide valuable insights into the effectiveness of your new ABM campaigns. These metrics will help you quantify the success of your account-based marketing strategy while also revealing how you can improve upon future advertising efforts.
1. Outcome-Centric Metrics
Outcome-centric metrics such as total revenue earned or the number of leads generated can help you understand whether your ABM campaign was a success. These KPIs provide a broad overview of the results of your account-based marketing strategy.
You should collect data on these metrics when you’re preparing reports for stakeholders or top decision-makers.
However, outcome-centric metrics only reveal “what” happened, not how you achieved those particular results. Therefore, it is essential that you track other KPIs throughout an account-based marketing campaign. This will allow you to make on-the-fly adjustments and increase the efficacy of your advertising approach.
2. Activity Metrics
Whereas outcome-centric KPIs convey the final results of an account-based marketing strategy, activity metrics ensure that your sales team is actively pursuing quality leads.
The exact activity-based metrics that you track will vary depending on your industry. However, some common examples include contact attempts per day and appointments scheduled.
Certain metrics provide insights into your sales team’s ability to influence prospective clients. However, there are no direct ways to measure your level of influence. Instead, you must analyze various data sources in order to locate correlations between certain types of activities.
For instance, let’s say that your sales team’s win rate experienced notably increases after an email drip campaign. It stands to reason that the drip campaign was a huge hit with clients, as it produced measurable results.
You can attempt to repeat the success of that campaign by creating similar content and targeting a new group of prospective clients.
Unlike “influence,” the reach of your account-based marketing strategy can be easily measured using campaign management tools. Reach refers to the number of prospective clients that were exposed to your advertising content.
On its own, reach provides limited insights into the effectiveness of your campaign. Therefore, you should review this metric as it relates to other KPIs. For instance, if your reach is high but your win rate is low, then your content might be getting displayed to the wrong audience.
5. Account Engagement
Account engagement is one of the best account-based marketing KPIs to track. This metric reveals how long a particular client spends interacting with your brand and content.
You can track engagement on your website and on social media platforms such as LinkedIn. The longer a prospective client spends browsing your content, the more likely they are to make a purchase when contacted by your sales team.
Before you can drive engagement, you must first create brand awareness. Does a target account know the name of your company or what services that you offer? If not, then they do not have any awareness of your brand.
You can gauge your brand awareness by measuring web traffic, event attendance, and sales call answer rates.
The primary benefit to an account-based marketing strategy is that it allows your sales team to focus their efforts on market-qualified leads or MQLs. When assessing the impact of an ABM campaign, it is important to determine how many MQLs it generated.
If your campaign acquired a large number of MQLs but conversion rates were extremely low, this is a major concern. In order to remedy the issue, your sales and marketing teams must reevaluate what they consider an MQL.
Teams should develop a set of qualifying criteria, which they can use to identify prospective clients that have a high likelihood of converting.
Account-Based Marketing Solutions from Insights ABM
Whether you would like to learn more about ABM or are ready to implement your own account-based marketing strategy, Insights ABM is here to help. We provide our clients with world-class ABM solutions that produce real results. Contact us today!