In traditional B2B marketing, new leads and opportunities are the main metrics used to measure the success of a marketing campaign. But account-based marketing, a strategy used by companies going after a small number of large target accounts, takes a more realistic approach.
Unlike a lead-based marketing campaign, in which a brand measures its success based on the quantity of individual leads, the very nature of account-based marketing (ABM) is to focus on the quality of leads. The reality for most companies is that individuals seldom make buying decisions in a silo. CEB cites that on average, there are 5.4 influencers involved in the average purchase decision. As such, ABM targets multiple team members at key accounts in order to reach a larger community. As David Ogilvy, the “grandfather of advertising,” once said, “Don’t count the people you reach. Reach the people who count.”
When measuring account-based marketing, then, it is incredibly important to have a set of metrics that create a deeper context for who you are reaching. Thus the traditional metrics—and framework used to measure it—are much less relevant. Here’s what you need to know about measuring account-based marketing.