Our 2016 ABM Benchmark Insights report states that “[w]e saw it took an average of 16 marketing touches to close a deal for new business in North America, whereas opportunities outside of NA required half as much — only 8 touches.” But what do these stats really tell us about planning for and practicing ABM?
When we dig a little deeper into this finding — that North American accounts require 100% more touches than Rest of World — we can derive a few key insights:
1. Account location matters.
As we mentioned in one of our previous blog posts, one of the key components of a solid ABM plan is finding out exactly where your target accounts are located, and then understanding what is most effective in each of those locations. “Location can tell you a lot about general trends, informing decisions around how to launch new campaigns directed at your targets.” By identifying and analyzing those trends, you can start building a more informed strategy that will help you effectively market to various local, national, and global regions. Because — as our Benchmark Insight report highlights — “[w]hat works in mid-market North America may be very different than what works in enterprise EMEA.”
2. You have to measure results by region to see what’s working.
After instituting a strategy based on your research, you can be begin to measure your results in order to understand if your team’s location-based efforts are really working. Look at the number and types of touches that are performing well in each region, and then adjust and build on your approach accordingly. “For global organizations, it is important not to take a ‘one size fits all approach’ to the marketing mix,” says our report. You need to segment, measure, and learn from your results so that you can better market to each region in the future.
3. Segmentation is a must-have for ABM.
Filtering by location is important. The same goes for filtering by product line, company size, and business unit. Our report states that “It simply makes sense to look at performance and optimal market mix in a manner that’s filtered down. We don’t think this is optional. Using universal metrics, if you’re a mid to large sized company, is dangerous.” Looking at your successes and missteps through more specific lenses can help you make more intelligent decisions and ultimately drive more pipeline and revenue for your business.
When you consider the above, you can see why it’s essential to include segmentation in your ABM measurement strategy and practice.
Luckily, there are solutions that can simplify that process for marketers. Powerful filters, for example, allow users to not only segment by region, product line, company size, business unit, and more — giving them a deeper understanding of the impact that campaigns have within various segments — they also include the ability to save and share those filters. This allows users to continue analyzing their most important segments over time, easily report on those findings, and develop killer account-based tactics that deliver results.