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[Sneak Peek] The Clear & Complete Guide to ABM Analytics

  1. @jonmillerCopyright ©2018 Engagio, Inc. The Clear & Complete Guide to ABM Analytics Sneak Peak Webinar Jon Miller CEO and Founder
  2. @jonmillerCopyright ©2018 Engagio, Inc. Great Marketing Requires Great Analytics • Prove Marketing’s value • Improve Marketing decisions – faster and better • Defend (and expand) Marketing budget • Align Sales & Marketing 3
  3. @jonmillerCopyright ©2018 Engagio, Inc. Nets (Demand Gen) Spears (Account Based Marketing)
  4. @jonmillerCopyright ©2018 Engagio, Inc. Why Now •Reaching high into larger accounts drives better dealsEconomics •Declining returns from inbound / volume channelsSaturation •Technology is now available to deliver ABM at scaleScalability “ABM delivers the highest ROI of any B2B marketing strategy or tactic.” (ITSMA)
  5. @jonmillerCopyright ©2018 Engagio, Inc. How else is ABM different from demand generation?
  6. @jonmillerCopyright ©2018 Engagio, Inc. ABM is Account Based Up to 17 people influence enterprise purchases (up from 10 in 2011)* *2014 IDG Enterprise Role & Influence of the Technology Decision-Maker survey “Person- centric” “Account-centric” • Decision maker • End users • Influencer Demand Gen Account Based Marketing
  7. @jonmillerCopyright ©2018 Engagio, Inc. MQA Aware NoEngagement Opp Customer Renewal ABM is for All Stages of the Funnel
  8. ABM Can Take a Long Time to Show Results ABM Pro Tip: Don’t run into the metrics buzzsaw. Leading indicators to revenue are critical to ABM
  9. Copyright ©2017, Engagio Inc. Your ABM Analytics Foundation
  10. @jonmillerCopyright ©2018 Engagio, Inc. Challenge: Account Data Spread Across Systems • Challenging measurement • Bad routing • Poor coordination • Limited marketing & sales alignment 11 Marketing Automatio n Corporate Email Web Visits
  11. @jonmillerCopyright ©2018 Engagio, Inc. Answer: Start with an Account Foundation Lead to Account Matching (L2A) Algorithm Presentation Marketing Automation Corporate Email Web Visits Engagement Minutes Model
  12. @jonmillerCopyright ©2018 Engagio, Inc. 13 Lead to Account Matching
  13. @jonmillerCopyright ©2018 Engagio, Inc. Account Foundation Enables Engagement 14 Engagement Minutes
  14. @jonmillerCopyright ©2018 Engagio, Inc. 15Note: List turnover limited to 25% per quarter Target Account Selection: Marketing Driven, Sales Owned Reps choose ~100 total from scored list of 300-350 in their territory Data quality matters!Technographics Score = Fit + Engagement
  15. @jonmillerCopyright ©2018 Engagio, Inc. Track Programs and Campaigns ABM analytics depend heavily on quality data about programs and campaigns: • Channels • Program details / metadata • Membership tracking / program statuses • Investment data • Naming conventions 16
  16. @jonmillerCopyright ©2018 Engagio, Inc. Advanced: Hierarchies and Demand Units 17 Source: John Common, Intelligent Demand
  17. @jonmillerCopyright ©2018 Engagio, Inc. Three Types of ABM Analytics
  18. @jonmillerCopyright ©2018 Engagio, Inc. The Framework for ABM Analytics Fundamentally, three questions arise in ABM: • Am I creating and deepening relationships with target accounts? • How do accounts move through buying journeys to desired outcomes (e.g. pipeline and revenue)? • What is the return on investment of my marketing programs’? 19
  19. @jonmillerCopyright ©2018 Engagio, Inc. Type Metric Description Accounts Engagement Am I creating and deepening relationships with my target accounts? Journeys Outcomes How do accounts move through their buying journeys towards the outcomes (pipeline, revenue) we care about? Programs ROI What is the marketing return on investment on my programs (multi-touch attribution)? The Framework for ABM Analytics
  20. @jonmillerCopyright ©2018 Engagio, Inc. Account Analytics Engagement: Am I creating and deepening relationships with my target accounts?
  21. @jonmillerCopyright ©2018 Engagio, Inc. Coverage Do you have sufficient data, opt-in contacts, and account plans for each target account?
  22. @jonmillerCopyright ©2018 Engagio, Inc. Coverage: Newly Added vs Newly Engaged 23 199Newly Engaged 405Newly Added Target Accounts, June 2017
  23. Time is Money
  24. @jonmillerCopyright ©2018 Engagio, Inc. Awareness: Target Accounts (>10 Min) 25 From 260 accounts (of 1,000)… …to 435 accounts 989 Target Accounts, June 2016 to May 2017
  25. @jonmillerCopyright ©2018 Engagio, Inc. Awareness: Web Traffic 26 989 Target Accounts, June 2016 to May 2017
  26. @jonmillerCopyright ©2018 Engagio, Inc. Engagement Are the right people at the account spending time with your company, is that engagement going up over time?
  27. @jonmillerCopyright ©2018 Engagio, Inc. Engagement Are the right people at the account spending time with your company, is that engagement going up over time?
  28. @jonmillerCopyright ©2018 Engagio, Inc. Engagement Data for Sales Sales and SDRs love engagement data as much as Marketing. They use it to: • Identify engaged accounts • Find the best people to contact next • Understand how effectively Marketing is supporting their efforts • Prepare QBRs and other account reviews Sales should access Engagement data wherever they already work – in CRM, in email, in LinkedIn – not just the analytics tool
  29. @jonmillerCopyright ©2018 Engagio, Inc. Journey Analytics Outcomes: How do accounts move through their buying journeys towards the outcomes (pipeline, revenue) we care about?
  30. @jonmillerCopyright ©2018 Engagio, Inc. Why Account Journeys 31 Sales never talks about how many leads they close, they talk about accounts they close.
  31. @jonmillerCopyright ©2018 Engagio, Inc. MQA Aware NoEngagement Opp Customer Renewal Many Journeys for Many Outcomes
  32. @jonmillerCopyright ©2018 Engagio, Inc. Mapping The New Business Journey 33 • Coverage Account • Sales Accepted Account (Meeting) • Deal Nurture Account • Disqualified Account • Recycled Account • Lost Account More Advanced StagesBasic Stages
  33. @jonmillerCopyright ©2018 Engagio, Inc. Marketing Qualified Accounts (MQAs) • Depth • Breadth • Timeframe • Advanced: – Company – Persona – Activity Type 34
  34. @jonmillerCopyright ©2018 Engagio, Inc. SiriusDecisions Demand Unit Waterfall 35
  35. @jonmillerCopyright ©2018 Engagio, Inc. The TOPO Account Based Funnel 36
  36. @jonmillerCopyright ©2018 Engagio, Inc. Account Journey Metrics Journey KPI’s Example Metric Questions It Will Answer Volume # of Accounts that move into a stage $ Value of Accounts that move into a stage How many MQAs did we create this month? How many Opportunities did we create over time? What is the value of sales pipeline generated? How much do we invest for each Opportunity? Balance # of Accounts in each stage $ Value of Accounts in each stage How many Target Accounts are Engaged? How many open Opportunities are there? Are these trending up or down? Conversion Rate % of Accounts that move from one stage to another What percentage of target accounts become Opportunities? What percentage of MQAs become Customers? What type of Accounts convert the best? Velocity Average # of days between any two stages How long does it take to move an Account from MQA to Opportunity? Do certain types of Accounts move through the funnel faster than others? What is the average time spent in each stage?
  37. @jonmillerCopyright ©2018 Engagio, Inc. Bringing it Together 38 Drill into differences by account type – segment, source, industry, geo, etc.
  38. @jonmillerCopyright ©2018 Engagio, Inc. Program Analytics ROI: What is the marketing return on investment on my programs (multi-touch attribution)?
  39. @jonmillerCopyright ©2018 Engagio, Inc. Sophistication of Measurement Campaign Influence Single Touch (First / Last) Multi- Touch Attribution 40
  40. @jonmillerCopyright ©2018 Engagio, Inc. 41 First Touch
  41. @jonmillerCopyright ©2018 Engagio, Inc. 42 Last Touch
  42. @jonmillerCopyright ©2018 Engagio, Inc. Last Touch Is Very Useful for Specific Stages 43
  43. @jonmillerCopyright ©2018 Engagio, Inc. 44 Equal Touch
  44. @jonmillerCopyright ©2018 Engagio, Inc. 45 Position-Based (U-Shaped)
  45. @jonmillerCopyright ©2018 Engagio, Inc. 46 Time Decay
  46. @jonmillerCopyright ©2018 Engagio, Inc. 47 Minute-Weighted Minute- weighed lets you bring in ALL activity, not just marketing campaigns
  47. @jonmillerCopyright ©2018 Engagio, Inc. Account Based Attribution Use all activities (sales and marketing) – not just campaigns Use all people that touch the buying center – leads and contacts
  48. @jonmillerCopyright ©2018 Engagio, Inc. 49 Models Compared
  49. @jonmillerCopyright ©2018 Engagio, Inc. Dashboards
  50. @jonmillerCopyright ©2018 Engagio, Inc. Sample Dashboards
  51. @jonmillerCopyright ©2018 Engagio, Inc. Sample Dashboards
  52. @jonmillerCopyright ©2018 Engagio, Inc. Target Account Scorecard Awareness ADR Touches Engagement Sales Appt Pipeline Opportunity Size 98% Of Target Accounts are ‘Aware’ Tier 1 100% Tier 2 100% Tier 3 98% - 6 accounts at “No Engagement” 5X to 8X Increase In ADR activity on Target Accounts ADR Touches Increased by Tier 1 by 8X Tier 2 by 4X Tier 3 by 5X ADR status changed on 86% of TAs 48% MQA or Oppty (late stage status) 110 New MQAs 31% Increase in # Engaged People at TA 6% Increase in Ave Engagement Minutes per TA 21% of meetings are from TAs Lower volume of meetings due to refresh of target accounts (29 meetings out of 350 vs 45 out 1000 in prior two months) 36% of pipeline comes from TAs Pipeline since Oct 1st 25 TA Opptys at $950K 20% ACV is 20% higher for TAs then funnel 2 and 3 (previous was 14%) Time frame = Oct + Nov 2017
  53. @jonmillerCopyright ©2018 Engagio, Inc. Getting Started
  54. @jonmillerCopyright ©2018 Engagio, Inc. Don’t Get Overwhelmed • Crawl, walk, run – you don’t need to do everything at once • Add more metrics, models, charts, dashboards, etc. over time Start With These (short-term) Add These Over Time (longer-term) Coverage Pipeline and Revenue - Influence Awareness Pipeline and Revenue - Attribution Engagement Journey Conversion Rate, Velocity Basic Volume: MQAs and Meetings Post-Sale Customer Expansion
  55. @jonmillerCopyright ©2018 Engagio, Inc. People 56 ABM Task Existing Staff Determine ideal customer profile Product Marketing Build account data foundation Marketing Operations Research accounts Sales Development Design and execute orchestrated plays Revenue Marketing / Field Marketing Coordinate with Sales Field Marketing Measure results Marketing Operations
  56. @jonmillerCopyright ©2018 Engagio, Inc. ABM Maturity CATEGORY CURRENT ABM MATURITY WHAT TO DO NEXT Beginner You may not even have defined target accounts yet. • Start with the basic account foundation — L2A matching and engagement scoring • Pick accounts (can start small) • Run a starter play: SDR + marketing air cover • Set a baseline for measurement Intermediate With your accounts in place, you’re ready to run and measure integrated plays. • Implement additional styles of ABM • Evolve all your metrics to be account-based • Measure – optimize – refine Advanced You run more sophisticated plays — customized with deeper account insights. • Use ABM for all phases of the customer journey • Compare program ROI via multiple attribution models Pilots are great ways to show short-term successes and get the entire company to buy into ABM’s benefits.
  57. @jonmillerCopyright ©2018 Engagio, Inc. Checklist for Building Alignment  DO know why you’re doing ABM  DO position it as a strategic initiative  DON’T describe ABM as ‘the next big marketing campaign’.  DO sell it to Sales  DON’T tell Sales which accounts to go after. (They don’t want to be told who to sell to)  DO agree on resources committed to each style of ABM accounts  DON’T expect results overnight; big wins in ABM can take a while  DO over-communicate to let everyone know what’s happening 58
  58. @jonmillerCopyright ©2018 Engagio, Inc. 59 Summary Capability Questions Account Analytics (Engagement) • Do I have the right contacts? • Are my target accounts aware? • Are my target accounts engaged? Journey Analytics (Outcomes) • Are my accounts moving towards outcomes (pipeline, revenue) I care about? • How long is the target account journey? • Do we have enough to make our goals? Program Analytics (ROI) • What combination of channels, programs, and content is most effective? • What cross-sell opportunities are strongest, and why? • What moves accounts through the journey faster?
  59. @jonmillerCopyright ©2018 Engagio, Inc. Coming January 25! The Clear and Complete Guide to ABM Analytics
  60. @jonmillerCopyright ©2018 Engagio, Inc.
  61. @jonmillerCopyright ©2018 Engagio, Inc. • The Clear & Complete Guide to ABM Analytics with Jon Miller of Engagio • Succeeding with ABM – Targeting and Reaching the Right Accounts and Contacts with Shari Johnston of Radius • The Essential Foundation for ABM Success – Align Sales & Marketing on Account Selection and Measurement with Tracy Eiler of InsideView • Honesty – Laying the Foundation of ABM Through Benchmarking with Justin Gray of LeadMD • Up Your Game – Activating Your ABM Content to Measure Account Engagement with Elle Woulfe of LookBookHQ • ABM Performance – Measuring the Things That Matter with Peter Isaacson of Demandbase Your All-Star Lineup
  62. @jonmillerCopyright ©2018 Engagio, Inc. • Traditional demand generation is like fishing with a net, when quantity is more important than quality. Because ABM is like fishing with a spear, ABM metrics measure quality. • With ABM, lead quantity will go down as quality goes up. Revenue results will take time! Set expectations properly. • Build your ABM analytics foundation by unifying systems, matching leads-to- accounts, selecting accounts, and tracking programs and campaigns. • Engagement is the most fundamental ABM metric since it answers the key question: Do the right people from the right accounts spend time with our company? • Journey analytics define stages of customer journeys, track progress toward intended outcomes, and measure key metrics including balance, flow, conversion, and velocity. • Multi-touch attribution seeks to understand how each interaction contributes to the value of outcomes you care about (often pipeline and revenue). • Don’t tackle everything at once. ABM is a long-term effort. Start with a few metrics and add over time as the business requires. Tweetable Takeaways @jonmiller

Notas do Editor

  1. Cheat sheets
  2. May 17, 2013 Almost exactly 6 years from PPC launch
  3. More: Generate more of the right kinds of leads and accounts — 30% or more at the top of the funnel Better: Improve quality of leads and accounts — as seen by up to 43% higher conversion rates through the funnel Cheaper: Avoid program costs by reducing investment on ineffective programs — up to 36% reduction Faster: Reduce labor costs by automating manual processes — moving two full-time equivalent (FTE) employees to other value-add activities Prove marketing’s value. Show Marketing’s true impact on revenue, and earn Marketing’s rightful seat at the revenue table. Align marketing and sales. Alignment is a natural byproduct when Marketing uses analytics to quantify influence on outcomes that matter to Sales. Optimize execution. Metrics hone Marketing’s ability to make better business decisions, increase team and campaign productivity, and allocate the right investments. Earn dollars and headcount. All of the above tends to protect (and often, expands) Marketing’s budget. Make faster, better decisions. Good decisions are good. They’re better still when the speed you make them accelerates.
  4. with the rise of Account Based Marketing (ABM), B2B marketers need new metrics to guide how they measure and prove their results go to market.
  5. When starting an ABM initiative, you need to se texpectations that it won’t deliver clear revenue immediately – possibly for a long time. If you hide this fact when you make your business case, you’re putting a time bomb inside your ABM program. Instead, make sure executives understand the timescales and the metrics you’ll be using •Quantity-based metrics will likely decrease (e.g. fewer leads). • Hard results may take a long time...sometimes a very long time. When embarking on account-basedjourneys, the biggest mistakecompanies make is failing to buildalignment across all stakeholdersthat ABM metrics will be different. So, set the right expectations up-front. •ABMtakestime.Buildasetofleadingindicatorstoshow progress on the path to revenue. •Volume-basedmetricsmaygodown.Traditionalmetrics may actually decrease, as resources targetfewer, better accounts. Instead of focusing on counting things, focus on thequality of your relationships and the effectiveness ofyour programs.ABM metrics are about quality, notquantity.
  6. But first: Good analytics don’t just happen. B2B marketers need to build a solid foundation for ABM analytics.
  7. 1 – Data is spread across disparate systems. It is difficult to start on this journey when people, accounts, and activity data are reside in different places.
  8. Once we have combined all of your data, Engagio will match all of the right people and activities to your accounts, making you look like a superhero.
  9. Quantifying Account activity can be difficult which is why Engagio uses TIME as the metric to help you understand Account engagement. The more time an Account spends researching your products and services, the more likely they are to become a customer or grow as an existing customer. So using TIME as a way to measure activity is how Engagio helps marketing measure Account quality.
  10. Follow these best practices designing your journeys: Gain Marketing and Sales alignment on stage definitions. Use the funnel to measure and optimize results (see next section). Change stage definitions as you learn. No model is perfect. Be careful of stages where accounts can get “stuck”.  Create “Service Level Agreements” that specify how long an account can stay in any given stage. Do not build funnels that focus on handoffs between siloed departments.ABM orchestration ensures departments work together at every journey stage to create harmonious experiences for target accounts.
  11. Time frame = 1 yr 96% Engagement35% Sales Appt77% ENT initial pipe from TAs14% Increase in ACV
  12. ABM and analytics can feel like “yet another thing” for Marketing to take on, which can be overwhelming for teams that are already being pushed to do more with less. To start, leverage your current staff.
  13. Many companies that deploy ABM successfully start their journey with pilots. The benefits are clear: Learn how ABM works for specific accounts types 
 Lower the risk of early efforts 
 Iron out issues before you scale 
 Earn stronger executive and stakeholder support 
 Lessen change management challenges 
 Find a sales person or group that is willing to work with you. Many pilot structures are effective, including: One sales rep and one marketer target five accounts Three reps and a marketer target one industry sector A full ABM commitment in one territory or region A full ABM program for one product line
  14. Know why you’re doing it Be clear why you’re adopting an account-centric approach in the first place. Hint: it should be to solve business challenges (more pipeline, improved alignment, better deals, more customer expansion, etc.). Don’t adopt ABM just because it’s the new trend. You probably can’t achieve your goals simply by doing more of what you have been doing. Scale – How many accounts will be in your program? How big are the deals? What resources are available? Scope – Will this be an intensive, high-touch approach for a few big accounts or a more scalable effort targeting more companies? Strategy – Is ABM’s goal to grow existing accounts, win new logos, or both? Position it as a strategic initiative Create buy-in with executives by positioning ABM as a business-led initiative, not a marketing-led one. Test other terminology: Try calling it an “account-centric approach,” “Account Based Sales and Marketing” or even “Account Based Everything”.  Don’t let ABM be seen as simple “sales support”. Sell it to Sales Even if you have senior executive support, you still need buy-in from individual reps and others on the ground. Bring Sales on board by showing how ABM meets their needs (what’s in it for them): Less time wasted on unqualified buyers Larger deals Shorter sales cycles Easier to work with Marketing