In our recent ABM Benchmarking Study, we found that ABM leaders are remarkably consistent in the way they track and report their programme’s success, using the categories of relationship, reputation and revenue to organise their metrics, plus an overall performance category.
Top metrics in use today
If we look across the categories at the top metrics used, almost everyone tracks engagement with the individual customers and prospects that matter (and most weight different types of engagement to give an overall score). Next comes the number of accounts covered by the programme and the number of contacts engaged within those accounts. Fourth is the percentage increase in pipeline achieved in ABM accounts.
A raft of metrics then fall into equal fifth place, including increasing relationship strength with key contacts, the number of opportunities supported and value of pipeline generated, the percentage increase in revenue in ABM accounts, and the internal satisfaction of the business with the programme.
None of these in the ‘top five’ fall into the reputation category, and anecdotally ABM programme leaders will tell you that this is the hardest one to track and report impact. There’s a quick fix here, if brand teams could be persuaded to measure awareness, consideration and preference for their brand among the contacts that actually matter to the future of the business.
To attribute or not to attribute?
There are mixed views on attribution models. One respondent explained, ‘We track increases in client engagement and influence on pipeline. There is no attribution — we are one team.’ While another said, ‘Our key metric is around pipeline. If it’s a 1-1 account, we have a 100% attribution model for opportunities and deals we support outside of renewals.’
The power of anecdotes
Everyone agrees that anecdotes are powerful, but problematic. ‘We can show data but it’s the stories that are valued, and they’re hard to get consistently,’ confirmed an ABM programme leader.
Focus on outcomes
What’s encouraging is that the majority of the most common metrics used are outcome or output focused rather than simply counting activity — a significant change on the early days of ABM in my experience. Of course, the key thing to consider is how well your ABM metrics show you are achieving the objectives agreed for your programme. As I’ve said before, this link is central to being able to demonstrate value back to the business.
Highlights from our full ABM benchmarking survey can be found here: http://bit.ly/3YhzJBX
