The Latest from the ABM Experts
May 8, 2017
#SangramSeries: Measuring ROI on ABM Events
A frequently asked question I get is how do I measure a return on investment (ROI) with account-based marketing? Events are a great place to start! #FlipMyFunnel has had over eight large scale conferences, in addition to roadshows, meet-ups and workshops and we’ve been able to report the ROI on each one. Want to know how? Watch my quick video and tweet your favorite highlights!
- Events are something that a lot of sales and marketing organizations are already doing. However, the way these organizations are measuring ROI from their events is likely wrong.
- Typically the ROI from an event is measured purely from new pipeline – that’s only 1/6th of what you should be evaluating!
- If you only focus on this one part, you’re going to miss out on a ton of revenue.
- Consider accelerated pipeline at your next event – pipeline that you already have in your CRM that’s not moved yet.
- You need to have those face-to-face meetings – events are a great way to find a spot to have those conversations and maybe even introduce them to other customers.
- You can measure this by considering how many of them are moving to the next stage.
- Focus on your saved customers too.
- No one talks about it, but every organization has churn.
- Ask yourself can you save customers because you’re inviting them to dinner or events and actually having in-depth conversations?
- You could include your product team along with your customer success team to do help with these conversations.
- A lot of time marketing and sales will do this but it’s really important to bring your product and customer success teams when you do events and want to have a major impact there.
- Every company wants to essentially show off new features.
- Instead of doing webinars or product splash, what about meeting them in their office and actually showing them and making it into a big deal?
- You can include executives as well and by taking that extra step, they understand that this product that they have is not only doing just one thing but it can do 10 things.
- Think about doing customer testimonial videos.
- You can hire a local video crew and actually have all the customers that are in that region and have them just shoot some video.
- It could be as simple as why they like the features of a particular product that you can use as part of your nurture technique for the existing customers.