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Why Engagement That Means Something Matters in ABM, and How to Drive It

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TLDR:

In an age where prospects can engage with an account using a variety of channels, it is important to look at which engagement models matter in ABM.

Engagement that means something has always been the foundation of Account-Based Marketing. The ability for marketing and sales teams to collaborate and build a custom experience for the customer is the driver for meaningful engagement. 

Having said that, with the increasing amount of ways a customer can interface with a brand, it’s worth looking at exactly which ways mean the most to ABM efforts. 

The way it used to be was that form-fills were how you knew potential prospects were interested. With the emergence of ABM, though, the way engagement data is seen has shifted. It’s now changed to a 360° account perspective— instead of focusing on a lead, the focus is on the whole buying committee. 

This makes the quality of the data extracted from the buying committee both known and anonymous. Collecting this kind of data allows account identification in a more timely fashion. But cutting through the trivial data can be confusing without a couple of engagement models to help.

The first of these models include what business2community.com calls the “Foundational Model.” Under this methodology, companies offering a single product or service quantify meaningful engagement as several high-value website visits from people in a buying committee. 

For instance, several people from the buying committee of a targeted account visiting a specific website would be classified as meaningful engagement. On the other hand, one individual from the buying committee consuming a downloadable offer would not count.

Both are forms of engagement, one more-so than the other. With this model, meaningful engagement in ABM qualifies as how many high-value people are involved in an interaction.

The other model of engagement is what business2community.com calls the “Layered Approach.” The Layered Approach is the opposite of the Foundational Model—it’s for businesses that sell multiple products or services. With this approach, meaningful engagement can be found out by analyzing the current deals in a sales cycle, as well as figuring out the average close rate. With these baselines, it’s easier to tell when an account is heating up or cooling down.

The foundational or layered models can be used to discover metrics used to define an ABM program. 

Original article from Business 2 Community on 14 February 2019. 

The ABM Journal

The ABM Journal was created because we got tired of sifting through all the noise about ABM and wanted to gather only the very best and useful Account-Based Marketing information in one place. In addition to our own research and insight, we aggregate executive level summaries, insights and takeaways—along with some of the top ebooks and other resources available.

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