An Account-Based Marketing funnel begins with identifying target accounts and ends with converting them into customers which is a flipped version of the traditional funnel.
While is also focused on analysing the following key aspects funnel stage and metrics i.e. Engagement metrics or funnel metrics (account behaviour) and business outcomes or campaign metrics (revenue). We track these behaviours not just within target accounts, but also among groups of accounts (segments). Delivering customer-centric experiences is an essential component of ABM. We rely on a segmentation strategy for that. Depending on your segmentation strategy, you’ll want to track and analyse your data by industry, company size, customer type or journey stage, etc. Let’s get an observation of these 3 elements which state the funnel and metrics associated with it.
1. Funnel stages
2. Metrics – Engagement
3. Metrics – Business or Campaign
Let us look at the funnel and the metrics that must be tracked during any successful ABM or account-based marketing programme.
1. Funnel stages
- Top of the funnel
Engagement by account is a key action taken by account at the top of the funnel for any ABM program. Monitoring how frequently leads inside the accounts you are targeting does a particular action is known as “engagement by account.”
This action could include visiting your website, checking your emails, responding to your social media posts, reading your direct mail, and so on. In order to personalise your marketing and messaging, you will be able to determine which accounts may be more likely to make a purchase if their engagement is higher—or discover the accounts that may not know anything about your brand if their engagement is low to non-existent.
- Middle of the funnel
Account meetings are key actions taken by account in the middle of the funnel for any ABM program.
Are your marketing campaigns generating enough engagement and interest in your top accounts for your sales team to have productive meetings or engagements? At this point, you’ll begin measuring the success of your marketing campaigns by quickly converting leads to sales. You should also be measuring quality based on how those meetings or engagements go—and whether they progress to the next stage.
- Bottom of the funnel
Increasing deal size is a critical action taken by accounts at the bottom of the funnel in any ABM program.
ABM strategy aids in the generation of high-value deals for specific accounts as a result of a personalised journey over the course of the engagement. This is a great place to do a quick gut check to see if you’ve done a good job selecting the right accounts to target with your marketing efforts. ABM accounts should have a higher close rate in addition to high deal values.
According to the same Sirius Decisions report, “89% of respondents increased their close rate using ABM, and one in four increased their closed deals by more than 50% for ABM accounts versus non-ABM accounts.”
2. Engagement Metrics
We enhance impact by moving target accounts from awareness to conversion and tracking behaviour to gain insight into what works best and identify and remove roadblocks to success.
- Accounts Reached The number of accounts from our target account list that were served at least one ad or opened at least one email.
- Accounts Visited The number of accounts from our target account list that viewed at least one page on our site.
- Accounts Engaged The number of accounts from our target account list with at least three page views.
- Unique Visitors The number of unique visitors from all accounts reached.
- Total Page Views The number of page views from all accounts reached.
- “Future Interest” Account The number of contacts in our TAL who say the timing isn’t right but reach out in the future.
3. Business or Campaign Metric
One of the main reasons marketers invest in ABM is the ability to measure the impact of their marketing efforts and link them to profitable business outcomes. However, we gauge the performance of ABM in terms of sales and business: target accounts in the pipeline, win, average deal size, and funnel velocity. We watch upper and mid-funnel metrics in order to optimise.
- Accounts Targeted The number of accounts on our target list for the campaign.
- TAL Responses Generated The number of targeted contacts that responded to the offers (as measured by a form fill, page view, or email response.)
- TAL Meetings Booked The number of meetings booked with a seller in response to the campaign.
- LT TAL Opportunities Generated The number of net new opportunities created in response to the campaign.
- LT TAL Pipeline Value $ The dollar value of the net new opportunities generated as defined above
When we combine funnel metrics and business outcomes, we get a complete set of basic account-based marketing metrics. ABM analytics tracks and measures the following metrics within target accounts, segments, and/or campaign audiences.
Account-based marketing is a credible evaluation model for companies that are looking to close high-value deals. Leads are highly qualified, engaged, and converted into customers through a dependable sales and marketing aligned model. An ABM funnel is fairly simple and can be easily implemented by businesses attempting to use this model.
Most importantly, keep in mind that your campaigns will be iterative, and you can continue to evolve your tactics based on the ebbs and flows of performance. You will see success if you take the time to plan, measure, and align your teams so that you present a unified front with your account-based marketing strategy.