Account-based marketing has crossed the tipping point. Among B2B marketers, 37% employed this marketing strategy in 2018, and this year, more than half (59%) are expected to adopt it within their organizations. But to be successful, marketers have to approach account-based marketing holistically. They need the ability to target and measure at the account level.
At RampUp 2019, we assembled a panel on this very topic, entitled “The Other ABM: Account-Based Measurement.” Moderated by LiveRamp B2B Head of Measurement, René Asis, the panel featured expert account-based measurement analysts and practitioners, including Dun & Bradstreet’s Audience Solutions SVP Anudit Vikram, T-Mobile’s USA Director of Marketing Gavin Warrener, and Hewlett Packard Enterprise’s Senior Manager, Global Head of Performance Media & Analytics, Adam Benaroya.
Watch the full panel discussion:
Don’t have time to watch the session? Here are the top three questions asked about account-based measurement and how various panelists answered:
What measurement challenges does the B2B customer journey present?
The B2B sales cycle is elongated, and conversion often occurs in a different channel than where conversations are happening with contacts. Often, the decision makers you started the conversation with may not be with the company by the time you close a deal, and there may not be a simple way to connect activity with those former contacts to the eventual sale.
Anudit at Dun & Bradstreet astutely pointed out that “In the B2B world, you don’t buy a million-dollar machine by hitting ‘add to cart’ and swiping your AMEX. Understanding the customer journey and having a way to measure all the points of the journey becomes critical.” Data delivers an edge in understanding and measuring that journey.
How do you overcome data fragmentation?
There’s no perfect set of data
Data drives measurement, but as Gavin highlighted during the discussion, a major account-based measurement challenge is that “there’s no perfect set of data.” It’s a mix of intent data, advertiser data, nurture data, CRM data, and more, all of which are disconnected.
To navigate this, T-Mobile relies heavily on data matching to determine the impact of its account-based marketing efforts. Anudit also underlined the importance of a persistent, consistent identifier that spans the channels and platforms used to power campaigns.
What KPIs should anchor your account-based marketing program?
Because the lines between success and failure are so clear cut in account-based marketing, the concept of measurement is baked in from the start. Adam of Hewlett Packard Enterprises shared that, “account-based measurement is inherently the most concrete measurement solution that we can show to our sales teams and demonstrate how we’re passing the accounts that matter to them.”
So, what are the key metrics for success? They vary by campaign, but should be “driven based on the data that you’re using for those campaigns and the efficiency of the campaign,” according to Anudit. He shared how one customer tracks website visits by accounts to gather important signals. When determining the one KPI to rule them all, consider appointments. Gavin outlined how getting sales teams at-bats with members of a buying committee is how T-Mobile determines the business value of its account-based marketing efforts.Missed any other RampUp 2019 sessions? Watch them on demand here.