Credit by Mitch Folks
What is it about your business that appeals to customers? You might think it’s the high-quality products you make. Another good guess would be the stellar services you provide.
In reality, it’s something else altogether: the unforgettable experiences you deliver.
Of course, measuring the effectiveness of your experiences can be difficult—especially when you’re collaborating with several internal teams, leveraging multiple tools, and engaging with prospects and customers across numerous channels.
But the success of your account-based marketing (ABM) strategy depends on it. For your ABM campaigns to truly thrive, you must be able to measure your efforts, analyze how they’re moving you toward your goals, and optimize your approach to boost results.
Here are a few helpful tips about gathering the insights you need to prove and improve the impact of your account-based experiences (ABX).
Success At Every Level
To ensure successful ABX, you can’t just measure your campaign’s success after deployment. You need to collect the right metrics at every stage of your campaign—and each stage demands different metrics for measuring success.
Whether you’re driving awareness using channels such as social and web personalization or developing leads with executive outreach and webinars, your ABM metrics should be tracked according to the type of marketing initiative.
Let’s take a look at what type of metrics are suited to each stage of the marketing funnel:
In the awareness stage, it’s likely too early to be measuring ROI-centric metrics. Instead, your focus should be on accounts’ engagement with your widespread marketing initiatives.
This includes identifying how many people are engaging with your social activity, what effect web personalization has on your website visitors, and what kind of impressions and click-through rates your ads are receiving.
Using these metrics, you can identify areas to optimize your engagement channels and highlight which accounts to guide down the marketing funnel.
During this stage, you’ll develop leads and accounts captured by your awareness initiatives, so it’s critical you measure account penetration metrics on how accounts are engaging and what’s driving them toward making a purchase.
You need to identify which prospects are opening emails and clicking on the links within them, which users keep returning to your website, and which accounts are repeatedly engaging with your webinars, blogs, and other content.
When you use these metrics to identify what’s working, you can adapt your ABM tactics to continue driving success across your channels.
At the final stage of your ABM campaign, you need to gather metrics that measure your overall success, including your campaign’s final ROI.
This involves metrics such as opportunities created and their value to your sales team, total revenue gained from new accounts, and a list of which marketing initiatives generated the most engagement over the course of your campaign.
With these account-level metrics identified, you can use the information to plan future campaigns, prove the success of your omnichannel ABM approach, and develop a strategy to retain the new customers you’ve secured.