Concept account-based marketing (ABM) has been ITSMA introduced in 2003 . ABM first appeared on Google Trends in 2013. Over the past few years, the number of ABM software companies has skyrocketed, along with ABM-specific agencies and B2B companies that have adopted ABM programs. .
ABM will survive, and it continues to gain traction as an initiative that can leverage high-value accounts, shorten sales cycles, and align the efforts of sales teams and marketing.
How are marketers gaining a competitive advantage with their ABM strategy?
A new study by Ascend2, Account-based marketing method was asked 261 marketers who provide experience and insight about ABM.
Here are five notable account-based marketing statistics and findings from Asend2 research:
34% of marketing professionals are planning for ABM in the future.
Only 22% of companies reported adopting a measurable ABM strategy. Another 14% are implementing ABM pilot program. and 34% are planning for ABM in the future. Although ABM has enjoyed strong growth, there is still a lot of growth in the future. If you feel it's too late to start an ABM program, you may have timed it right, as there are more tools, case studies and blueprints to follow and experts to help. you in the process.
Current status of ABM strategy according to research
65% of marketing professionals describe their ABM strategy as somewhat successful.
If you're a B2B company with complex buying and selling, ABM should work. About two-thirds (65%) of marketing professionals describe their ABM strategy as being somewhat successful in achieving its primary goal. Marketers representing companies whose strategies are sophisticated enough to be considered “best in class” represent about a quarter (22%) of those surveyed. The bottom line here is that ABM works.
65% of marketing professionals consider their ABM strategy somewhat successful.
37% of marketers find it difficult to get enough budget and resources dedicated to account-based initiatives.
37% of marketers find it difficult to get enough budget and resources dedicated to account-based initiatives. Marketing and affiliate sales are also a top challenge for 32% of marketers who recognize that the two in harmony are essential to the success of an ABM program. Data quality issues are also an obstacle for 29% of marketers to overcome.
Don't underestimate the importance of affiliate marketing and sales. Both teams need to work together to select target accounts, determine what content to produce, improve data quality, etc.
Challenge ABM
Customer lifetime value is the most important data to collect and track on an account, according to 41% of marketing professionals.
ABM primarily relies on the use of data to personalize the experience for contacts from targeted, high-value accounts. But what data is most important to track? Customer lifetime value and account financial information are the two most important pieces of data to collect and track for ABM according to 41% of marketers.
Customer lifetime value and financial information is important to keep track of on the account.
Target account revenue generated is the number one success metric for ABM, according to 44% of marketers.
Measuring return on investment for ABM is essential to strategic success. Account-level-based metrics, such as target account revenue generated and target account engagement, are found to be most useful in measuring ABM program success under 44 % and 42% of marketers, respectively.
These are ABM's top success metrics.
Ready to get started? Here are 10 steps to launching your own account-based marketing program.
- Do your homework and make a plan before you start. Download Account Based Marketing Methods report other studies, case studies, and how-to articles.
- Get support from the executive leadership team and the sales department.
- Set goals so everyone knows what success is and work together to achieve them
- Identify high-priority target accounts.
- Build a profile of the decision makers and influencers you'll need to engage with at your target accounts.
- Create the content needed to interact with your target accounts and contacts.
- Choose appropriate channels and tactics.
- Choose the right technology.
- Plan and execute campaigns.
- Measure, analyze and optimize the program.
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