ABM Strategy

Strategies to Convey ABM’s Effectiveness to Higher Ups

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TLDR:

Due to the nature of ABM to require organizational change and company-wide buy-in, it also demands its own set of metrics. If a dashboard is built monitoring key ABM metrics, marketers can segment the data obtained and measure it. This will make reporting and justifying ABM’s worth to higher-ups simpler.

ABM requires a team effort. Everybody—every department, every person—has to be on board with the coordination of it for an ABM program to work. To get everybody involved, they need to see it’s working. 

The way it’s been done in the past is to use a lead-centric funnel that gets progressively narrower towards the bottom. If marketers are using this method, it’s plain to see how ABM can be thought of as ineffective. ABM needs its own metrics, reversing the old funnel.

Stakeholders and higher-ups may provide some resistance, as for most of their careers, they relied on traditional funnels. In short, it makes it hard to tell them how effective ABM is.

To get that company-wide buy-in, marketers need to present the data extracted from an ABM-approach in a single dashboard 

Dashboards make it easy to give the decision-makers an overview of ABM’s effectiveness. A few of the most important KPIs to include in a dashboard range from Engagement, to Total Accounts, to Open Pipelines.

Make it painless to understand data—contextualize it. To achieve this, marketers may need to use two types of measurement if they’re expanding by gaining accounts or building upon existing business.

In addition, ABM automation technologies should be leveraged to update the dashboard because the risk for human error is high. Use of reporting platforms or ABM reporting platforms can reduce the risk.

Scorecards showing funnel progression are a great way to show those not directly involved with marketers’ ABM efforts that it’s working. Marketers can take advantage of their best-performing campaign if they include segments on these scorecards—total accounts and total pipeline.

This makes it easier to determine which campaign is the one that’s performing the best. It also allows marketers to compare and contrast among segments and adjust accordingly.

When marketers do that, the justification for ABM can be provided to decision-makers when set against more traditional marketing campaigns. Dashboards can generally be created with more ease these days, and when paired with ABM, when the higher-ups make decisions, they aren’t bombarded by confusing data. 

It’s all there—simplified in the dashboard.

Original article from Terminus on 11 April 2019. 

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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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