Are leads the holy grail in B2B?
OK, you do a little, but is it enough? You’ve played the lead generation numbers game … trying to get the most, qualified leads for the cheapest price. And in an effort to reach a broader audience, you’ve bought more lists, run better Cost Per Lead (CPL) campaigns, and have ultimately succeeded at stuffing the top of the funnel FULL of leads. Cue explosion! And a “job well done” from your boss.
But what’s that feeling in the pit of your stomach? It’s your conscience. You know that the number of leads you’ve generated isn’t really important, rather what is, is whether you’ve generated the right ones. Often times we measure the number of impressions, number of clicks, number of magazine posts sold, number of likes on Facebook, etc. because they are easy to track. But today, these alone are not enough to measure the success of your marketing efforts. Unfortunately, if you are reaching thousands, but not one of those thousands is interested in your brand, product or service you’re wasting their time and your money.
So what counts? If you sell a product for call centers, but none of the companies you are reaching has a call center, you need to rethink your action plan. It may seem like a no brainer … but you need to identify the companies that have call centers and market only to them. And more importantly measure the results based on how many companies with call centers interact with your marketing actions. We are dominated by a world saturated with lead generation tactics that too often fill our inboxes and voicemail with unrelated garbage.
So what’s the solution? Set your Key Performance Indicator (KPI) metrics to include ABM criteria.
At Azalead, we start with total number of engagements, then boil it down to total number of engagements in our target profile This is our first KPI. Then we look at how many of these accounts are on our target account list – KPI number two. These are our two most important criteria when measuring the success of our campaign results.
At Azalead, we use Account Based Marketing and Advertising Software to help B2B companies identify, target, nurture, and win their target accounts. Instead of tracking engagement on an individual level, we track engagement on an account level. The activity of all members of an account are rolled up and the lead score is assigned for the account. This accommodates for the trend toward higher numbers of stakeholders involved in the B2B buying decision. Letting sales reps in on this valuable sales intelligence will alert them about engagement that is spiking up or down, allowing them contact these accounts at the right time.
Three things to take away:
Forgetting about leads and remembering the importance of targeting to the accounts that matter most will help you to evolve your metrics and ultimately accelerate your sales. Explode your target account list with Azalead’s Account Based Marketing and Advertising solution. Sign up for a free demo today!