After years of back and forth, the arguments about whether or not account-based marketing (ABM) is worthwhile have subsided. More than 80% of marketers say that ABM outperforms other marketing initiatives, and more than 90% of marketers believe that ABM is essential to B2B marketing.
The stats speak for themselves. There’s no doubt that ABM is an optimal strategy for B2B marketers, but there are obstacles that can hinder its effectiveness. It’s important to remember that without proper measurement in place at the onset of implementation, true business impact will be a pipe dream.
THE MULTI-TOUCH LONG SELL
A big reason for the often-poor execution of ABM is the sales cycle it addresses. In a traditional digital advertising scenario, you set up a social media campaign, let it run for a week or two, and measure the click-through and conversion rates right then and there.
Sadly, this isn’t possible with ABM, since the B2B sales cycle is so much longer and more involved. According to Corporate Executive Board (CEB), B2B sales now require 5.4 people to formally sign off on each purchase. There is a direct correlation between the size of the deal you’re trying to close and the number of people you need to influence. According to Salesforce, 90% of B2B buyers stated that there is a direct correlation between purchase price and the amount of research done (i.e., the higher the price, the more research there is). So, if you want to close big deals, you will need to use big-picture thinking.
WHAT WE’LL MEASURE
While it’s true that Account Based Marketing can bring big returns, it does require a slight shift in how you approach the buyer journey and, more importantly, how you measure success. In the following chapters, we’ll take a look at how to measure ABM from start to finish.
In chapter one, we’ll start by explaining how to see if ABM is a good fit for you and how to find the right ABM platform. This section will provide clarity, in case you’re on the fence about whether to take the ABM plunge.
In chapter two, we’ll discuss which metrics to track to ensure your ABM program is running as it should. With a sales cycle that can last many months, it’s crucial to use the correct metrics so that you don’t waste an entire year on a failing program.
Finally, chapter three will be all about evaluating your ABM program as a whole. We’ll also dig into which metrics can help you improve on your existing program—so that you can squeeze every drop of ROI out of your marketing campaigns.
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About the Author
Brandon Redlinger is the Director of Growth at Engagio, and is obsessed with anything Account Based Marketing and Sales related. He has been in sales and marketing his entire career, leading teams across the country from NYC to Denver to the San Francisco Bay Area. Brandon is passionate about the intersection between technology and psychology, especially as it applies to growing companies. In his spare time, you will find him buried in a book, hitting the gym or on an adventure exploring the world.Follow on Twitter More Content by Brandon Redlinger