The Latest from the Go-to-Market Experts
March 10, 2021
The Fundamentals of a Successful CMO Scorecard
Updated for the Modern CMO to Incorporate Go-to-Market and Account-Based Marketing KPIs
When I first developed a free scorecard template for CMOs with Tim Kopp, things looked a lot different for both of us. Tim was a VC, I was a stay-at-home-consultant-mom, and account-based marketing was just beginning to heat up.
Fast forward a few years later and the game has changed. I’m lucky enough to work at Terminus now with Tim as our CEO. I lead Revenue Operations now instead of Marketing Ops. And, the way we run and evaluate marketing is decidedly different than ever before. This new version of the CMO Scorecard builds on the previous fundamentals with an eye toward ABM KPI’s and the future of holistic go-to-market operations measurement.
Why Is There Still a Column for Brand?
Brand drives demand, period. While sometimes difficult to measure, I still believe investing in and measuring progress on your company’s brand is equally important as before. An effective demand-gen strategy means new accounts and contacts seeing your brand. So it’s important to consider what they might be seeing during that first interaction. And even more importantly, how do they feel? If your brand isn’t a delightful experience out of the gate, that awareness is wasted. Tim explains more in this episode of The Roof:
Why Didn’t You Simply Add an “ABM” Column?
Tacking on an ABM column would have been easier but it doesn’t represent how interwoven a real account-based marketing program is among all facets of marketing. When it is done well, account based activities should boost your brand awareness, increase the quality of inbound lead flow, speed up conversion to opportunity, and speed up the sales funnel. Think of ABM as the hi-octane fuel to move each part of the funnel faster instead of its own separate activity with unique KPIs.
What Is a Qualified Conversion?
If there is just one takeaway from our update, let this be it. ABM is all about spending marketing budget in a more focused way and increasing the likelihood that you’ll gain interest from the right accounts. A qualified conversion is an inbound lead that converts to either:
- A brand new opportunity
- An existing target account
- A customer account interested in expanding
The idea is to match inbound leads to the right account at the time of creation so you can track how many of those inbound leads came from the right target audience. My perspective is that you can be sure where you apply ABM activities, you’ll see a more qualified mix. If you aren’t measuring qualified conversions today, I highly recommend it.