Tracking metrics is essential to determining whether or not your ABS sales strategy, targeting, and messaging are working.
Before we tackle metrics that are specific to ABS, there are certain fundamental metrics that should be tracked regardless, they are:
The Fundamental Metrics
- Activities: As the name implies, these metrics are simply tracking what reps have been doing. How many emails have been sent? How many calls have been dialed by your sales team?
- Engagement: Essentially, this metric is analyzing the quality of the activities reps have been doing. How many replies have their emails been getting? Do these replies express interest, or are they asking for you to stop contacting them?
- Results: This is the measurement of how well your targeting and messaging efforts have moved your accounts and prospects through your sales pipeline. Results are measured by whether or not meetings have been booked, how many SQOs you have, and how much revenue you have sourced.
- Quality of Results: Simply tracking results isn’t enough, you need to know whether or not these results have positive benefits or negative consequences for your sales team. Some things to think about tracking, what’s your SQO conversion rate? How’s the health of your sales pipeline?
How to Track Fundamental Metrics for a SaaS Company
Last month, Gary’s SDRs were assigned 100 accounts to target. Gary wants to know what actions his reps took to touch these accounts and how successful those actions were. To figure this out, Gary is going to look at his Fundamental Metrics first.
One of the key benefits of an ABS strategy is that it helps sales teams talk to their best fit accounts – Tier 1 accounts. Gary, therefore, wants to measure his Fundamental Metrics by tiers.
- For tracking his Fundamental Metrics, Gary measures his reps Activities by the number of calls they have made and emails they have sent.
- He measures Engagement by the open rate for these emails and the connect rate of these calls.
- He tracks his Results by the number of meetings his reps have booked.
- He measures the Quality of Results by the conversion rate of the accounts who booked meetings to sales.
For the 100 accounts assigned to his reps last month, the Fundamental Metrics look like this:
- Tier 1 Accounts had 240 emails sent and 200 calls dialed
- Tier 2 Accounts has 120 emails sent and 100 calls dialed
- Tier 3 Accounts had 70 emails sent and 65 calls dialed
Engagement (% open/% connected):
- Tier 1 Accounts had a 38.3% open rate and a 17% call connected rate
- Tier 2 Accounts had a 53.4% open rate and a 20.1% call connected rate
- Tier 3 Accounts had a 60.1% open rate and a 24% call connected rate
Results (# 0f meetings booked):
- Tier 1 Accounts had 11 meetings booked
- Tier 2 Accounts had 23 meetings booked
- Tier 3 Accounts had 39 meetings booked
Quality of Results (conversion rate):
- Tier 1 Accounts had a 20% conversion rate
- Tier 2 Accounts had a 50% conversion rate
- Tier 3 Accounts had a 63% conversion rate
Keep an eye out for our next blog, where we’ll dive into metrics specific to Account-Based Sales.
Looking to optimize your GTM strategy and grow your pipeline? Our Ultimate Guide to Account-Based Sales has the tips and tricks to help you enhance your sales team.
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