Determine How Accounts Flow Through the Marketing and Sales Funnel
An Account-Based Marketing (ABM) Funnel report determines the impact and effectiveness of an organizations’ ABM efforts, and conversion rates at each stage of the ABM funnel. The funnel stages of the ABM funnel are:
Why You'd Use This Funnel
The ABM funnel is used to determine how effective Marketing and Sales’ efforts are at generating engagement within an organization’s Target Accounts. This funnel tracks the engagement across the accounts as a whole, and not at the lead or contact level.
Oftentimes, a purchase does not have one sole decision-maker or contributor during the customer journey. True ABM Funnels should consider both marketing and sales efforts, as ABM is not a marketing-only strategy and requires alignment between marketing and sales teams in order to be successful.
WHO THIS is valuable for
- Demand Generation teams
- VPs of Marketing
- Chief Marketing Officers
- Account Executives
- AVPs or VPs of Sales
- Chief Revenue Officers
DATA YOU NEED
- Account scoring model defined and built
- # of Target Accounts, # of Engaged Accounts
- # of Marketing Qualified Accounts
- # of Opportunities Opened Within Accounts, # of Closed Opportunities Within Accounts
- Time Frame (based on touchpoint)
DATA SOURCES REQUIRED
- Web Analytics Platform
- Intent Data (optional)
- Account-Based Marketing Ad Platform (if used in ABM efforts)
- Marketing Automation Platform (Marketo, Hubspot, Eloqua, Pardot, etc)
- CRM (Salesforce, SAP, etc)
Key Characteristics of an ABM Funnel
A number of companies are running Demand and ABM Funnels side-by-side to track performance. And we think this is the right approach. But many of our customers ask us what the main differences between the funnels are. So, here are a couple of main differences:
1. You have a list of defined target accounts (TAM, ICP)
2. Track and score engagement at the account level, not the lead level (Account Scoring)
Here are a few tips on how to ensure your ABM Funnel is firing on all cylinders:
1. Use a Proven Framework
We're big fans of the work the team over at TOPO is putting together. In their framework, they walk through what they call "Account Based Everything" from target accounts, strategy, data, planning, content, channels... to metrics and technology. Check out their framework here.
2. Get Your Total Addressable Market (TAM) Analysis Right
We address this in detail in one of our latest guides, but by developing insights and data into your TAM pays dividends down the road. Think of things like: data dedupe, cleanse, and unify (at the contact and account level), firmographic data, and account scoring. Check out the guide here.
3. Define Your Marketing Qualified Account (MQA)
At CaliberMind, a MQA is defined as a combination of fit, intent, and engagement scores. At the account level, not lead level. At the engagement level, it's an aggregate of the activity across the contacts on the account. We've outlined the characteristics in detail in our "Account Scoring Guide".
Here's an example of an ABM Funnel we use at CaliberMind:
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