Building the Foundation to Measure Account Based Marketing
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This document discusses how to build the foundation to measure an account based marketing (ABM) strategy. It recommends three steps: 1) Create a marketing taxonomy to map channels. 2) Build solid tracking of all buyer interactions across channels. 3) Measure marketing impact on pipeline and bookings, including for ABM programs specifically. Key aspects are aligning data collection with sales and finance, auditing existing tracking, and using a multi-touch attribution model to understand overall marketing influence.
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Building the Foundation to Measure Account Based Marketing
- 1. Sumo Logic Confidential Saad Hameed Building the Foundation to Measure Account Based Marketing (ABM)
- 2. Sumo Logic Confidential LinkedIn: http://j.mp/SaadHameed Twitter: @SaadVirtus https://twitter.com/SaadVirtus
- 3. Sumo Logic Confidential Applications, Mobile Webservers, Email, Clickstream Security Devices, Desktops Networks, Servers, Hypervisors Internet of Things Real-Time Data Streams Master Your Data • Development & Operations • Compliance & Security • Business & Customer Insights to Drive Continuous Innovation Sumo Logic: Continuous intelligence for the modern software centric company
- 4. Sumo Logic Confidential The Demand Equation • 300+ Employees; Marketing team size is 24 • Many routes: Field Sales, Inside Sales, Self-Subscription, and Partners • Prospects range from Fortune level to startups across most verticals • Channels ranging from SEM, Organic, Social, Syndication, Sponsored Webinars, Tradeshows, Field events, User Groups, etc. • ABM is crucial for penetrating Mid-Market and Enterprise
- 6. Sumo Logic Confidential The Complex Nature of B2B Measurement
- 7. Sumo Logic Confidential Measurement Of Programs Adds To Complexity
- 8. Sumo Logic Confidential Why ABM Compounds Complexity Entity Complexity (Contacts, Accounts, Leads, Opportunities) Purchase Complexity (Interactions, Channels, Offers, Purchase cycle) Traditional B2B Advanced B2B B2C LOW HIGH HIGHLOW
- 9. Sumo Logic Confidential Key Metrics for ABM • The conversion rates of cohorts • The velocity of cohorts • The resulting outcome of customers and revenue
- 10. Sumo Logic Confidential 3 Steps To Success With ABM Measurement AND Get It Right From the Start 1. Create a marketing taxonomy 2. Build solid tracking foundation for all buyer interactions 3. Identify marketing impact on pipeline (including ABM Programs)
- 11. Sumo Logic Confidential #1: Create a Marketing Taxonomy
- 12. Sumo Logic Confidential Creating a Taxonomy For Marketing Based On the Context of Your Company
- 13. Sumo Logic Confidential Key Takeaways: Marketing Taxonomy • Understand and map your marketing channels • Find technologies to fill gaps in data and execution per channel • Align with your sales and finance teams from the beginning • EDUCATE, EDUCATE, & EDUCATE
- 14. Sumo Logic Confidential #2: Build Solid Tracking Foundation For Buyer Interactions
- 15. Sumo Logic Confidential Build a Robust Tracking Layer Across All Channels • Audit existing tracking for digital channels; make no assumptions • Select solution totrack and measure multi-channel influence & impact • Build tracking for the first behavior/channel that brings prospects to your funnel (before the form fill) • Track offline touchpoints like field events, mail, etc. • Track ABM Programs with unique identifiers
- 16. Sumo Logic Confidential Key Takeaways: Tracking Foundation • Build Data Quality dashboards to scale implementation/roll-out • Verify data entry and exit points to verify there’s no delta (as an example for Click to Chat leads, both Chat system & CRM have same number of touchpoints) • Track sales efforts (e.g. email, calls) to give proper credit
- 17. Sumo Logic Confidential #3: Measure marketing impact on pipeline/bookings (including ABM Programs)
- 18. Sumo Logic Confidential Measure Multi-Touch Marketing Impact • Establish an Influence Measurement logic that aligns with the context of the market situation and objectives of the Corporation • Zoom out to holistically understand marketing impact on conversion and revenue influence • Measure impact of ABM programs to non-ABM Programs
- 19. Sumo Logic Confidential Measuring ABM with Bizible Touchpoints
- 20. Sumo Logic Confidential Measuring ABM with Bizible Touchpoints ABM Channel ABM Channel ABM Program ABM Program ABM Program
- 21. Sumo Logic Confidential Comparing Channel Performance EMail Events & Conferences Paid Search Organic Search [ABM] Mailer [ABM] Outbound Calling Social Marketing Channel
- 22. Sumo Logic Confidential Keys to Building Foundation to Measure ABM • Agree on and build, a robust taxonomy • Use touchpoints as the standardized measurement for tracking • Connect online and offline marketing channel data • Adopt multi-touch influence solution and logic for channels • Look at impact conversion (lead to opportunity, win rates, etc) and influence (revenue) to determine value • Measure ABM against other programs
Editor's Notes
- Sumo Logic: Data as Solution At Sumo Logic, we believe data is not a problem to be solved, but a solution looking to be applied, that is: mastering your data will enable you to the minimize complexity and risk in your IT environment, thereby accelerating your proficiency towards continuous innovation. Existing monitoring tools, with their limited visibility and scalability – are not cut-out to deal with the variety, velocity and volume of the machine data tsunami. A new approach is required, built from the ground-up, to provide development, operations, compliance, security, business and customer insights continuously – that is, real-time, always on and constantly scaling to meet the data analytics needs of your business.
- Who do we sell to (large corporations & smaller corporations) and we know for larger companies ABM is where to do
- Note from Saad: Let's show this rotated sideways. When we move to PPT, I will add an animation, so it first shows the previous graphic (w/ Contacts/Opps et al) and then shows this graphic
- Comments from Saad: Thanks +andrew@bizible.com Good start. I have added the key variables that are part of B2B & B2C measurement at the top of the comments section below. I would suggest y Axis as Entity complexity (Multiple contacts, Channels, Interactions) & Purchase Complexity (Purchase length and # of purchases). Let's then plot the values. Instead of B2B, I'd suggest calling it Traditional B2B and ABM as Advanced B2B. Complexity: 1. Tracking including type of interactions and size of data (B2C is slightly more complex) 2. Length of buying cycle (B2B is more complex) 3. Inter-relationship of contacts (B2B is more complex) 4. Inter-relationship of persons and purchases/Opps (B2C is more complex) 5. Channels (B2B is more complex) 6. Offer/Content (B2B tends to be more complex) Comments from Dave: +andrew@bizible.com ABM marketing has more complex purchase complexity so should be to the right of B2B. Might be easier to just make this google drive/ppt elements instead of an image. Complexity of measurement B2C -> B2B -> ABM. not everyone has solved measurement. ABM is even more complex because traditional measurement is more lead/demand focus which is more B2C focused vs specific accounts and engagement.
- How do you have cohort of accounts how does ABM impact that cohort to convert? Amount of influence you create via ABM at list of accounts. Does that create better outcomes
- (frame this as what Sumo Logic encountered / went through) if you don’t set it up right from the beginning you are not setting yourself up for success.
- W shaped (30% FT, 30% LC, 30% OC, 10% all others) SL: 40% FT, 25% LC, 35% all others (full path); Implicit?
- screenshot of touchpoints. salesforce center of universe of accounts, etc. here’s what this all looks like in your CRM. Note: This is in Salesforce’s new lightning UI.
- screenshot of touchpoints. salesforce center of universe of accounts, etc. here’s what this all looks like in your CRM. Note: This is in Salesforce’s new lightning UI.
- View of revenue contribution by channel. Can easily view by programs as well.