ABM (Account Based Marketing) is becoming an international shooting star. Already ⅓ of all enterprises set on individually adapted marketing for selected desirable customers. In addition, companies invest an average of 29% of their marketing budget in ABM. Tendency rising.
This is shown by a recent study by the US organization ITSMA and the ABM Leadership Alliance. The authors have already made it clear with the title “Moving to ABM Maturity: 2019 ABM Benchmark Study”: Account-based marketing is leaving its children’s shoes behind.
ABM on course for growth
73 % of the respondents reported rising ABM budgets for 2020, with average growth of 21.3 %.
This is accompanied by more intensive efforts. 92 % are aiming for such a target:
- 69% are expanding their efforts on existing accounts.
- 68% cover more accounts with ABM.
- 58% use automation technology to push existing plans.
- 53% develop new tools and templates. This should facilitate the reuse of assets, including for best practices.
- 52% use an overarching strategy for more than one ABM option This allows them to cover even more accounts, clusters and segments.
It is clear that most respondents already have an Account Based Marketing strategy in place.
However, ABM is not yet fully developed: each full ⅔ of companies is currently working on higher quality and quantity. The expansion of their own programs is also right at the top of the agenda.
ABM presents companies with numerous challenges
Despite its great importance, Account Based Marketing is not easy for many companies.
For example, 36% of respondents report that they are working on personalizing marketing activities for key contacts.
Another 35% struggle to accurately track and measure the results of their efforts.
Another third feel financially challenged: Here, the budget is not sufficient to enable all the necessary measures and resources.
Many are similarly uncertain when developing materials for Account-based campaigns. The demands are high. The content created should be suitable for the individual account as well as mass-compatible. This is almost like trying to square a circle.
And another point is surprising: Not everywhere does ABM start with extensive cooperation between marketing and sales. Accordingly, 27% see a need to educate their own sales force about the values and processes of their measures.
After all: Almost no company has problems keeping marketers in their programs. At the same time, almost every fourth company is looking for experienced ABM marketers. Skills and experience are therefore rare, but most are satisfied with their employers.
Despite the long-term effects: Especially successful for patient companies
Care and patience pay off: 71% of ABM freshmen report that their marketing ROI has increased. For the already experienced companies this rate is even 92%! Experience, but above all patience with one’s own efforts are worthwhile.
The situation is similar with the increase in ROI: 42 % report that it has changed measurably. 19 % even did so significantly.
Added to this is additional growth in turnover through ABM measures. Here, 55 % reported measurable growth, 17 % a significant increase. Again, the conclusion is that experienced companies are more likely to turn this knowledge into sounding coin.
More and more companies are working increasingly successfully with ABM
Both the number of companies with their own Account Based Marketing and the success of companies already practising it are increasing. Many have already gone beyond the stage of a proof of concept. They are now working on expanding their Account-based efforts on many levels. Always aware that ABM can actually deliver the promised results when successfully implemented.