The New Metrics for Measuring the Account Based Funnel

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The New Metrics for Measuring the Account-Based Funnel You're likely familiar with the traditional demand generation waterfall. This model is based on a marketing strategy that is lead-centric and volume-based. The goal is to generate a large quantity of leads and efficiently pass them through each funnel stage. It's a great model when you have a volume velocity business. However, in many B2B organizations, this model falls short. With the rise of account-based models and account-centric thinking, there's a need to rethink how to measure results. Why? In short, Account Based Marketing is about quality and not volume. There are many reasons for this. First, the leads brought into the funnel are not always a good fit for your business (lower ASP, higher churn, etc.). Also, selling B2B involves 'buying centers', which adds complexity and length to your sales cycles. None of this can be measured with traditional demand gen metrics. You must find a new way to determine if your ABM efforts are successful. You need an account-level view. These new ABM metrics don't replace traditional metrics, like leads, pipeline, and revenue, but rather complement them. People Leads Personas Quantity F R O M T h e New Acco u nt Fu n n e l How to Transition to Account-Based Metrics Don't count the people you reach; reach the people that count." - DAV I D O G I LV Y You can't wait a year to see results [in ABM]" - M EG A N H E U E R , S I R I U S D EC I S I O N S L E A D -TO -ACCO U N T M ATC H I N G : This maps all leads in your CRM and marketing automation platform to their respective accounts so your data is clean, organized, and current. If leads are not tied to accounts, you can't begin to measure engagement at your most important accounts. Furthermore, leads get routed to the wrong account owner, leads don't get scored and nurtured properly, and, ultimately, the customer has a bad experience. Lead-to-Account Matching also gets both sales and marketing speaking and thinking the sales language – the language of accounts. E N G AG E M E N T M I N U T ES : Measuring engagement means asking are the right people at the right accounts spending time with the right people in your organization? Before someone spends money with you, they'll spend time with you. The more time they spend, the more interest they're showing in doing business with you. That's why measuring and scoring accounts by "Engagement Minutes" is the most effective metric to demonstrate interest within a potential account. M A R K E T I N G Q UA L I F I E D ACCO U N T S : This is a target account (or discrete buying center) that has reached a sufficient level of engagement to indicate possible sales readiness. In traditional demand generation, companies use Marketing Qualified Lead (MQL), to designate a lead deemed worthy to be handed off to sales. But in ABM, instead of relating to an individual person, they align to target accounts. While the MQL relates to one lead ready to go to sales, the MQA related to one account ready to go to sales. In order to make this transition to account-based metrics, you're need to put some foundational pieces in place. This will ensure that your team is focused on the right things and allow you to measure outcomes at the account level. L E A R N M O R E AT E N G A G I O . C O M /A B M - M E T R I C S Here are 5 metrics that you must track in ABM: COV E RAG E – Do you have sufficient data, coverage and account plans for each target account? AWA R E N ES S – Are the targets aware of your company and its solutions? E N G AG E M E N T – Are the right people at your key accounts spending time with you? Is that engagement increasing over time? R E AC H – Are marketing programs reaching the right accounts? Is there any waste? I M PACT – How are the ABM activities improving sales outcomes, such as deal velocity, win rates, average contract values, retention, and net promoter scores? Accounts Opportunities Buying centers Quality TO TA R G E T ACCO U N T S E N G AG E D ACCO U N T S O P P O RT U N I T I ES C U STO M E R S AWA R E ACCO U N T S

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