When you first start building your Terminus campaigns, you may wonder how you're going to measure success and which metrics are ultimately most important. After analyzing data from 250+ campaigns across 75 customers, we’ve come up with the top seven strategies that you can use to increase revenue, pipeline velocity and customer satisfaction with an ABM approach, as well as how to define success using each. We've further outlined these strategies in the Terminus Account-Based Marketing Framework.
First, define your campaign goals. Then, use the corresponding metrics to measure success.
Goal: Turning Leads into Qualified Accounts
Are prospects progressing to MQLs faster? Are you increasing contact activities or number of appointments on target accounts? Is the qualification cycle getting shorter?
- % increase in prospect to MQL conversion rate
- % increase in contact activities
- % increase in number of appointments
- % increase in audience
- Increase in Executive Awareness
What this means to you: By using ABM, you can take every new lead and expand your reach from the initial contact to all of the decision makers within the account.
Goal: Turning Qualified Accounts into Opportunities
Are you increasing the velocity of a marketing qualified lead to an opportunity? Are target accounts progressing through the marketing/sales cycle faster?
- % increase in lead to opportunity conversion rate
- % increase in progression to the next opportunity stage over a given period of time
- % increase in MQL to Opportunity conversion rate
- % increase in sales cycle velocity
- % increase in marketing-sourced pipeline
- % increase in engagement
What this means to you: You’re likely to find the most success in this stage of the pipeline because of the ability to reach the accounts on the channel most relevant to them. As a result, you can see an increase in engagement as well as pipeline velocity.
Goal: Turning Opportunities into Customers
Are target accounts progressing through the marketing/sales cycle faster? Are you increasing win rate on target accounts? Is the sales cycle getting shorter?
- % increase in opportunity to closed-won deals
- % increase in engagement within opportunites
- % increase in deal size
- Increase in Sales Velocity
- New logos
What this means to you: From the information that you gathered on how your ads are performing you can develop personas for each decision maker within an account. Now the sales team has the information they need to properly approach the prospective buyer and make the sales process go as smoothly as possible.
Goal: Advocate Marketing - Turning Customers into Advocates
Are your customers experts when it comes to your product and how to use it? Are you increasing attendance at events such as conferences and webinars? Are you using every channel possible to maximize post-event follow up?
- % increase in customer retention
- % decrease in customer churn
- % increase in customer product usage
- % of customers that attend your events or join your webinar
- % of audience expansion to relevant personas at target accounts post-event
What this means to you: By making sure that your customers are experts when it comes to your product, you’ll start to see higher usage rates and they'll rave about it to others. Word of mouth is the most valuable, and often overlooked, marketing tool.
Goal: Winning New Business
Are you serving impressions to and effectively engaging existing accounts to increase adoption of new products/services or increase upgrades of current products/services?
- Number of new opportunities created within a given account
- % increase in revenue within a given account
- Increase in new business
What this means to you: You can market upgrades of an existing product as well as other products your firm offers to customers. Send targeted messages to members of the company using various channels and watch revenue from that account increase.
Land and Expand
Goal: Winning More Business
Are you serving impressions to and effectively engaging additional departments of an existing account? Are you able to effectively reduce churn due to additional buy-in from a given account?
- Number of new opportunities created within account
- Increase in revenue within an existing customer account
- % decrease in churn
- Increase in customer adoption
What this means to you: You can use targeted advertising to ensure that everyone within the company is aware of the features that your product has to offer as well as any additional resources to help them become experts at using it. Marketing and customer success teams work together here to ensure that everyone using the product is familiar with its features and can tell more people about how it helps their business.
"Always On” Air Cover
Goal: Remaining Top of Mind
Are you driving individuals from your target accounts to your page? Are you consistently engaging target accounts with your brand (content, promotions, etc.)?
- % increase in traffic from targeted accounts to your site
- % increase in engagement of targeted accounts on your site
What this means to you: Air cover campaigns work by using a very targeted and strategic message to reach partners, analysts, influencers and investors. You always want to be top of their mind so when it’s time to write a review, ebook or case study, your company is the first thing that comes to mind.