Do you know what metrics are worth paying attention to with account-based advertising (ABA)? How do you keep track of what’s performing well or poorly so you know what to improve on, or leave out in your next campaign? Here, we delve into the heart of the metrics that make a difference and guide you to the ones that will work for you and your target accounts.
Defining your ABA metrics
Before you can decide if something is working or not, you need to define the specific end goal you want to achieve – more views, more click throughs, time spent on a specific page, or the number of accounts reached. At AccountInsight, we use the below metrics to track our client campaigns.
- Engagement – In order to use ABA effectively, you need to track the engagement rate that’s most relevant to you (clicks, visits to website, time on a page, etc). Engagement, at its core, is how many target accounts interacted with your advertisement compared to the accounts that saw your ad but didn’t take any action.
- Click through – Here, you’re measuring how many people are clicking through from your advertisement to the landing page you’ve linked to. Instead of counting the engagement on your website directly, you’re tracking the number of times your advertisements have been clicked on by your target audience to get them to come to you.
- Sales cycle length – You need to measure how long an account stays within the sales cycle before a purchase decision is made. To streamline this process, you need to fine tune the level of personalisation that you employ. Remember, the longer the account is in the sales cycle, the more you’re spending to advertise to them and the more time your sales team is spending converting them, when they could be working on other leads.
- The average selling point – This is worked out by looking at the cost of what you’re selling versus how many are sold through this particular campaign. The average selling point in ABA is already quite high, but it’s worth keeping an eye on this metric to ensure that it doesn’t creep up too much through incorrectly targeted adverts.
- Conversion rate – Until your target accounts have been converted from potential clients into paying clients, you can’t entirely count your overall advertising goals as being met. Your conversion rate is the key yardstick for all other metrics. If you target 20 accounts and only 5 convert, you have a 25% conversion rate. Build on the data gathered from the campaign metrics above and you’ll see what areas of ABA have helped you achieve the best conversion rate.
Let us improve your ABA metrics
For internationally approved account-based advertising and marketing tools, get in touch with us to see how we can help you improve your ABA metrics today.