Board meetings are critical for showcasing your company’s strategic direction and performance. But when it comes to performance, are your KPIs aligned with your strategy?
As businesses shift towards more targeted approaches, account-based reporting becomes essential for illustrating how marketing and sales efforts translate into tangible outcomes.
In the post below, we’ll explore the importance of account-based reporting, how to prepare your reports for the next board meeting, and the key metrics that will help you impress your stakeholders.
Go Beyond Inbound vs. Outbound Pipeline
Experienced B2B CMOs increasingly acknowledge that traditional success metrics, such as marketing-sourced vs. outbound-sourced pipeline, are becoming antiquated. These metrics often dominate attribution discussions and embody an outdated view of marketing as a transactional mechanism where each dollar invested in “inbound activity” is expected to yield qualified opportunities and revenue directly.
However, the problem with this inbound vs. outbound reporting is that it does not reflect the modern buying journey. B2B buyers are in a period of self-discovery, exploring their options across multiple touchpoints and channels. This complexity necessitates a shift in our approach to measuring success. We must embrace an account-centric framework rather than focusing on channel-specific metrics, particularly when deploying an ABM strategy aimed at high-intent accounts.
Rethinking Your Metrics: An Account-Based Approach
If you’re running an account-based go-to-market strategy, this is your sign to rethink how you measure performance and quantify success. And if you’re not running an account-based strategy, now is the time to rethink how to build a sustainable pipeline.
Traditional broad-based marketing tactics are often insufficient for driving meaningful engagement and revenue. An account-based approach (ABM) offers a more targeted and effective strategy for reaching and influencing high-value prospects across multiple channels to impact the buyer’s journey more effectively.
The uniqueness of this approach causes traditional metrics to fall short. These old metrics do not accurately reflect the complex, multi-channel engagement efforts required to make an impact in modern B2B marketing.
To better capture the effectiveness of your ABM strategy, consider shifting your reporting to showcase what’s really moving the needle. Here’s where to start:
Focus on Reach and Engagement: Assess whether you successfully reach and create preferences within your target accounts. Track account-level impressions, ad clicks, website engagement and activities across both marketing and sales channels.
Monitor Account Journeys: Evaluate how target accounts progress through the buying stages. Identify whether early-stage engagement can predict future pipeline and revenue and track changes in the total universe of target accounts over time.
Measure Impact: Determine which marketing and sales activities correlate best with desired outcomes. Analyze the effectiveness of different efforts to identify opportunities for optimization based on what your best-fit accounts did to find you and ultimately decide to purchase from you.
Evaluate Outcomes: Analyze the current pipeline. Report on open pipeline, closed-won opportunities, win-rate and pipeline velocity.
By adopting these account-centric metrics, you can provide a more accurate and comprehensive view of your ABM strategy’s success.
Preparing Your Account-Based Report
Define Your Objectives
Before diving into data, clearly define what you want to achieve with your report. Are you demonstrating the success of a recent campaign? Showing progress towards annual goals? Understanding your objectives will help you focus on the most relevant metrics and insights.
Gather and Analyze Data
Collect data from your CRM, marketing automation tools, and sales platforms to create a comprehensive view of each account’s journey. Ensure your data is up-to-date and accurate to avoid discrepancies during the meeting.
Visualize Your Data
Transform your data into easy-to-understand visuals. Charts, graphs, and infographics can communicate complex information quickly and effectively. Tools like Tableau, Power BI, or even Excel can be invaluable in this process.
Craft a Compelling Narrative
Numbers alone don’t tell the whole story. Pair your data with a compelling narrative highlighting key achievements, challenges, and next steps. Use case studies or specific account examples to illustrate your points.
Key Sections to Include in Your Report
- Executive Summary: Provide a high-level overview of your findings and recommendations.
- Performance Highlights: Showcase key wins and achievements from your account-based efforts.
- Challenges and Opportunities: Discuss any obstacles you’ve encountered and potential opportunities for growth.
- Detailed Account Insights: Dive deep into the performance and engagement of your top accounts.
- Strategic Recommendations: Offer actionable insights and next steps to continue driving success.
Prepare a Better Marketing Deck
Preparing for your next board meeting with an account-based reporting approach can significantly enhance the quality of your presentation. By focusing on high-value accounts and delivering targeted insights, you demonstrate a deep understanding of your business’s strategic priorities and showcase the effectiveness of your ABM efforts.
Remember, the goal is to provide clarity, drive informed decision-making, and highlight the tangible impact of your marketing and sales strategies.
Are you interested in learning how RenderTribe can help drive a better go-to-market strategy for your organization? Contact our team of GTM experts today.
