Use two different models of defining meaningful engagement.
- When we talk about engagement in ABM, we should talk about quality not quantity. In the past, marketers have scored their leads to figure out when they are sales ready. That's not super effective because you don't sell to a lead. You sell to an account. With ABM, you need to look at how all the stakeholders are engaging with your brand, even if they have never filled out a form on your website.
When you aggregate the known and anonymous data, you have a clearer picture of which account is meaningfully engaged. Let's consider these two models, foundational and layered. Let's start with the foundational model. Let's say you have just one product or service line. Meaningful engagement for you could be 10 high value website visits from four people in an account. If you can turn website visits into opportunities, then go with the foundational model.
Remember, not all visits are the same, so focusing on high value page activity could mean focusing on the right accounts from the get go. Now, if you sell multiple products or have a high traffic website, you might want to go deeper than just website visits. This is where you can use a layered model. Here's a template for creating a layered model for meaningful engagement. So you may ask, how do you fill in this model with the appropriate numbers? One way to do this is to look into current deals in your sales cycle and use their engagement levels as a baseline.
Once you understand what meaningful engagement looks like to your business, you can start measuring the increase or decrease in your engagement metrics. One that I like to track is rate of meaningful engagement, which is the percentage of target accounts that are currently engaged based on the model of your choice. Another metric is the time from first touch point to meaningful engagement. Time is how long it takes to convert an account from the very first brand touch point like a website visit to a meaningful level of engagement, like watching a customer testimonial or setting a demo.
The most important thing to do is to define what engagement means to you and your organization and get a consensus from your leadership team. It might take you multiple iterations to find the one that works for your business. Your first step is to start with a basic model and continuously iterate as you find patterns of meaningful engagement.
- What is account-based marketing?
- Using the TEAM framework for ABM
- Creating target account lists
- Communicating authentically with clients
- Orchestrating multichannel campaigns
- Activating sales
- Analyzing your ABM performance
- ABM case studies