Following on from our previous poll, we found that one of the most common ABM challenges for many companies, is measuring the success of their ABM programmes.
And it seems we’re not alone. According to an ABM Market Research Study by Demandbase in 2020, measurement of ABM was listed as the biggest weakness for the companies surveyed, with 57% of respondents saying that they haven’t even started to measure.
This research got us thinking about just how well our followers know the ROI of their ABM programs. Once again, we took to LinkedIn and conducted a poll, in which we asked our followers: Do you know the ROI of your account-based marketing programs?
Despite there being 4 options, the results showed that only 2 answers came out on top:
- 0% of people said they are unaware of how to measure ABM
- 0% said they aren’t measuring ABM yet
- 13% voted that they measure ABM with MQL metrics
- And finally, a staggering 88% of voters stated they use ABM metrics to measure
Whilst the Demandbase survey (2020) also confirms Marketing Qualified Leads (MQL) metrics as a popular measurement of ABM, being the second most common metric tracked in their 2020 survey, it’s interesting to see that many of our followers do in fact use ABM metrics to measure their ABM.
That’s not to say that it is a challenge though. Measurement is the number one topic that was requested by respondents in the Demandbase survey (2020). But why is it still such an obstacle for many companies?
For us here at AmbitionABM, we can help overcome this.
Using best practices, we establish our KPIs and metrics from 4 distinctive categories:
- Readiness: the robustness of your Account Plan, goal alignment with the account team, the depth of your customer insight
- Reach: C-level engagements, number of meetings, audience growth over time
- Outcome: Deal win rate, Lead to pipeline conversion, number of new opportunities in an account
- Impact: Win rates, growth of deal size, total revenue influences
Each of these categories allow us to measure the ABM journey, rather than just the leads. By having a set category of metrics and KPIs, we can tailor these to meet your own needs and desired outcomes. When we commence an ABM programme or pilot scheme, we establish the key metrics we want to measure from this list. In doing so, this ensures that we have goals already lined up to reach, making it much easier to evaluate our campaigns once executed and determine their level of success.
So, if you’re struggling to measure your ABM metrics, then get in contact with us today to see how we could help you.