Note: This article is the second in a six-part series about getting started with Albacross. There are links to all of the articles at the bottom of the page.
A lot of marketers struggle to evaluate their account-based marketing campaigns.
While “traditional” metrics are relevant, they’re not applied to ABM in the same way. The fact that individual accounts are targeted, rather than large markets or niches, means that a slightly different approach is required.
But that doesn’t mean it’s impossible! In fact, once you make a few alterations, the evaluation and measuring process becomes incredibly easy.
Once you know which metrics are important, you can hone in on them with a laser-like focus and work to improve them.
In this post, we’ll look at which metrics are key for evaluating your account-based marketing efforts in the context of a paid ad campaign. We’ll also use examples from Albacross to highlight how everything works on a practical level.
The account-based marketing “funnel”
Account-based marketing “funnels” aren’t as straightforward as traditional funnels, which are usually aimed at broad markets.
Your goal is to lead target accounts through various stages of awareness, across multiple touch-points and with a high degree of retargeting, before pushing them towards a conversion.
Visibility is most important in the early stages. You want to make key decision makers within an account aware of who you are. From there, the goal is to turn them into engaged leads. You can then optimise your ads to boost click-throughs, branding impact and, ultimately, conversions.
There is a degree of openness to this model. Some individuals will click on an ad and sign up for a free offer immediately. Others will visit your site directly through Google after learning about your brand. In either case, a long-term approach is called for.
1. Target Account Views
The first metric we need to consider is the number of views your ads are getting from your desired accounts. This will give you an idea of whether or not you are reaching the right accounts and building first-stage awareness.
In the sample campaign in the screenshot below, for example, you can clearly see that all the target accounts have a high number of views (in the hundreds and thousands).
This type of hyper-targeted advertising, geared at boosting awareness of your brand with specific accounts, is unique to platforms like Albacross. You can’t find it with ad networks like Facebook and LinkedIn.
If you are not getting views from your accounts, you may need to shift your targeting focus onto larger companies or different industries.
2. Ad Views
Next, you need to evaluate which of your individual ads are performing best. This information will feed into your choice of ads for future campaigns, allowing you to pick the styles and formats that communicate your branding most effectively. You can also pinpoint those ad design elements that are most successful.
The ad campaign data from Albacross below shows that larger ads are more effective (the platform has automatically worked out the top performers) for the kind of companies we want to target and the platforms we’re advertising on.
Clicks are a measure of your target accounts’ engagement and of the relevancy of your ads.
We have found that a 0.1% to 0.2% click-through-rate is a good benchmark. The average click-through-rate for banner ads in Sweden is 0.02%.
A large number of views but a low click-through-rate might suggest an ad with low relevance (and vice versa) or one that doesn’t create sufficient engagement.
You can see from the screenshot below that some of our click-through-rates are solid whereas others might benefit from more specific targeting and ad-testing.
4. Time spent on landing page
“Time spent on landing page” is a measure of how well your landing page fits with and follows on from your ad. If people clicking your ads land on content that isn’t relevant, or if it’s poorly structured and formatted, then you have a problem.
In our experience, it is best to create unique landing pages or tracking IDs specifically for account-based campaigns. This way you can easily measure the on-page engagement of visitors clicking on your ads using a tool like Google Analytics.
5. Branding impact
Evaluating branding impact is a case of measuring changes in organic traffic of the companies that you are targeting. If accounts have become aware of you through targeted ads, they are more likely to search for you using Google.
A general increase in organic traffic that coincides with your ad campaign (remembering to account for other variables) is likely an indicator of increased brand awareness among your target accounts.
A cold lead converts to a warm lead the moment they initiate a conversation with you. This may be as simple as exchanging an email address for a free guide (thus giving you permission to contact them).
Alternatively, an individual from a target account may respond to an email, reach out to you directly, book a demo and so on. The range of conversion “events” is very broad.
Because you can track ad spend on an account-by-account basis, determining a clear return-on-investment (ROI) is a simple matter of evaluating account-specific ad spend in the context of conversions and sales success.
You now have everything you need to launch, run and evaluate a successful account-based marketing campaign.
As we’ve said in the past, new technology is making account-based marketing available to businesses of all shapes and sizes. And now is the time to act.
If you haven’t already, take a look at our short series of introductory articles. They will guide you through the basics of account-based marketing and show you how to set up your first campaign in Albacross.
To your ABM success!
Getting Started with Albacross: 6-Part Series
Part 1: What is Account-Based Marketing?
Part 2: Use Albacross to Identify Interested Leads
Part 3: How to Use Filters to Build Your Ideal Audience
Part 4: Launch Your First Albacross Campaign in 5 Steps
Part 5: How to Manage Your Albacross Ad Campaign
Part 6: Evaluate Your Account-Based Marketing: 5 Crucial Metrics (You’re here)