It’s about quality, not quantity.
A people first marketing team’s top priority is influencing the people who matter at key accounts— the key decision makers. Instead of focusing on accumulating and creating leads, you must center your marketing around engaging a smaller number of the right leads. Marketing has made significant progress in using metrics to earn accountability and respect from these key stakeholders.
How we execute:
Your metrics should track data quality in support of a higher strategic plan based on previous customer and competitive insights. The five traditional account based metrics we use are as follows:
Do you have sufficient data, contacts, and account plans for each target account? The longer the sales cycle, the more you need metrics to understand what’s going on as it buyer continues his or her journey. Outline what truly matters for each audience when transitioning to an account-based framework, so you can identify the leading indicators of success, and find a way to measure progress in the middle-of-the funnel, as an account develops.
Are the target accounts now aware of your offering? Do your prospects know your company’s name and can you point web traffic as an indicator that people within your target accounts? You should also track whether your key contacts are opening your emails, attending your events, and taking your phone calls.
Are the right people at the account spending time with your company, and is that engagement going up over time?
Are marketing programs reaching the target accounts? How much waste is there? Start by looking at the most effective channels — such as webinars, emails, or web forms. Are key accounts responding more favorably to a specific channel? What percentage of your overall results is coming from your ABM-targeted accounts?
How are the ABM activities improving sales outcomes such as deal velocity, win rates, average contract values, retention, and net promoter scores? Start by looking at your churn rate – the number of people who cancel their subscription in any given month. You will also need to measure this against your Gross Margin % (the percentage of profit that remains after you have paid your costs for the product or service), and then how much money the average customer brings in each month.