“Don’t count the people that you reach; reach the people that count.” David Ogilvy
Marketing has made significant progress in using metrics to earn accountability and respect since Mr. Ogilvy first said this quote, but its significance finds new meaning in today’s world, as the rise of Account Based Everything (ABE) demands new ways of thinking about marketing metrics and measurement.
Traditional demand-gen metrics simply aren’t enough to optimize an account-based strategy.
While leads and opportunities are important and even necessary metrics, they are not sufficient to measure ABE. You need metrics that are suited to this specialized discipline – or you’ll be pursuing and rewarding the wrong things. Because ABE is a fundamentally different approach, it requires fundamentally different metrics, those that provide an account-centric lens to your measurement. Here, marketing won’t be generating many “hot leads” – so even metrics that incorporate quality (MQL) become less useful.
As Account-Based Marketing (ABM) makes its way into core demand gen practices at B2B companies, a key challenge many marketers face is establishing a simple framework for measuring program success.
The ultimate measure for any ABM program is the impact on revenue. However, tying program spend to revenue is not always easy, especially if your products involve a larger annual contract value (ACV), longer sales cycles, and complex buyer journeys over multiple digital channels. It’s therefore essential to establish multiple metrics to track for any ABM program, that serve as markers for you, that you are on the right lane, leading you all along towards your goals.
At Kwanzoo we specialize in ABM display and retargeting programs. Over the past 6 months we have launched multiple ABM display programs across geos (North America, Europe, Asia Pacific, Australia) for many mid-to-large B2B enterprises. We run several account-based targeting strategies (cookie-based, IP-based). Our customers’ program goals range from prospecting, to customer upsell / cross sell, competitive switch, partner influence and more.
Imagine if your business-to-business sales team had a fast and efficient way to uncover hidden opportunities long before your competitors do.
Think of the advantages you could achieve by influencing your customer’s buying preferences early in their decision process.
This article explains four straightforward steps to give your sales team that important edge.
It’s the third in a series that demystifies how B2B companies can get started with online display advertising.
An ABM Interview with Niraj Deo, Sr. Director, Product Management, Oracle Data Cloud—B2B Products
Kwanzoo: Niraj, can you start out by telling us why Oracle Data Cloud (Oracle BlueKai) is moving into Account-Based Marketing (ABM)?
Deo: We really see our ABM progression as an extension of the three core capability offerings we have in the Oracle Data Cloud:
- Audience Data Marketplace—A community of more than 40 third-party data providers that have access to a massive amount of data.
- ID Graph—Pulls together the many IDs across marketing channels and devices that comprise a given person and enables marketers to tie their interactions to an actionable customer profile.
- Data Management Platform (DMP)—Leverages integrations with modern activation channels (Google, Facebook, etc.) to build cross-channel campaigns and audience targeting.
Marketo just announced an updated release of their Account-Based Marketing (ABM) offering. The new release builds on their ABM launch in September, with more details on key milestones achieved in the past three months and new features including:
- Over 50 customers signed including Avanade, MuleSoft, NAVEX Global, Sovos, and more.
- Support for Account Teams within ABM for better sales & marketing collaboration
- Deeper ABM reporting on account-level engagement and it’s impact on sales pipeline
- Launch of new Named Account APIs to enable strategic technology partners to integrate their ABM capabilities into Marketo’s core ABM platform functions.
Kwanzoo ABM Display for Marketo ABM