In the world of ABM (Account Based Marketing), tracking your success can be difficult. It’s not always easy to know whether you’re achieving your goals with your brand and the strategies you’re using. Evaluation is one of the most effective ways to track your progress and improve as an organization. Evaluating your marketing efforts will help you identify what’s working and what needs to be improved. You can use these five metrics to assess whether or not your strategy is working in terms of results.
What to look for when evaluating ABM success
ABM success can be evaluated by tracking a variety of metrics. As a marketer, you should be tracking data relating to your company’s KPIs. These are metrics such as the number of sign-ups, the number of subscribers, the number of new customers, the number of users who have shown interest in your marketing actions, and so on. Tracking these metrics will give you a good indication of your ABM success and where you need to improve.
Data quality and availability
A big issue for many companies is the quality of the data available to them in their efforts to track ABM success. Data quality is crucial for any kind of marketing metric, and even for simple things like subscriber counts. Bad data will always tell you something other than the truth. So quality data is essential.
It’s important to check that your data is of high quality. One way of doing this is to compare the data you have with that of other companies with the same data set, in the same sector. This will help you check whether your data set is accurate, or whether you need to work on improving its quality.
Brand awareness and consideration
Another measure you can track is the evolution of your brand’s awareness in the marketplace. To determine the effectiveness of your brand awareness efforts, you can track the number of people who know your brand or product name in different contexts. For example, how many people know your brand when they see it advertised in a magazine, on a billboard, on a website and more. To do this, you can commission opinion surveys. Indeed, opinion polling remains the most reliable way of measuring a brand’s image and perception. So you can have it carried out both digitally and physically.
Conversations per user
Another metric to track is the number of conversations your brand generates in the marketplace. This can help you determine whether you’re generating positive buzz around your brand and helping people to take action. While it’s not always a direct measure of success, it can give you a good idea of how effective your campaigns are in terms of conversations around your brand. To calculate the number of conversations generated, you can track the number of mentions, retweets, replies, views, shares and comments on your posts. You can also find out how many people are using content curation tools and how many people are commenting on your blog posts.
User adoption and sales
When it comes to user adoption, there are two metrics you want to track. The first is the user adoption rate of your products or services. This can help you determine whether your marketing efforts drive the right people to sign up. If people aren’t adopting your products or using your services, they aren’t seeing the value of what you offer, which means you aren’t helping them as effectively as you could. To track customer adoption, you can track the number of registrations, product activations, customer service responses and online reviews.
Conclusion
While it can be difficult to measure ABM success at the very beginning, it becomes much easier once you’ve learned what to measure and how to do it. The best way to start is to make a list of the key indicators you want to track, and then create a dashboard so you can monitor them regularly.
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