The results emerging from more and more surveys of marketers in B2B companies about Account Based Marketing (ABM) statistics prove that ABM is changing the game with its smart, laser focus on high-value customer acquisition.
A trend marketers can no longer ignore
Going forward, B2B marketers will need to adopt some form of account based marketing strategy for plenty of subjective reasons:
- Content wars – as content grows, focus narrows on specific buyer personas
- These customers want highly specific, personally relevant messages
- Marketers – not just salespeople – can leverage more personal relationships with customers
We’ve written before about the growing interest in ABM, and how it caught on quickly because of dramatically increased ROI for many businesses. ABM adds value by helping coordinate marketing with sales efforts more closely, so they’re aligned on the same customer goals. Marketing initiatives are followed up with related sales initiatives aimed at the richest targets. It also eliminates time wasted on both sides in trying to attract lower-value customers. Early surveys confirmed the positive results for the early adopters of ABM.
These numbers confirm the case for ABM
- 80% of marketers measuring ROI say that ABM outperforms other marketing investments, including technology. Given that the actual spend for many ABM strategies can be kept relatively minimal, it’s not surprising that it outperforms on ROI.
- 84% confirm that ABM significantly helps to retain and expand current client relationships. With the ongoing trend that defines consumer marketing as being about social connections and engagement, there’s no reason these same powerful connections can’t be deployed by B2B marketers.
- 92% of B2B marketers worldwide consider ABM “extremely” or “very” important to their overall marketing efforts. Again, not surprising!
- 52% of companies say they currently have some form of ABM pilot program in place. This compares with just 20% a year ago.
- When ABM has been in use for at least a year, 60% of users reported a revenue increase of at least 10%. It may take a little patience to see the yield, but most find the metrics are there.
- 19% of companies using it reported a revenue impact of 30% or greater. Companies that deploy more comprehensive ABM strategies – especially ones aligned with sales – do best.
- 41% of B2B marketers worldwide plan to increase spending on ABM. It looks like we are moving from a trickle to a stampede, as positive results continue to prove its value.
How sales and marketing can achieve more by working together
- All companies practicing ABM claim to be at least somewhat aligned with sales, with 34% saying they’re tightly aligned.
- Companies report they are 67% better at closing deals when sales and marketing teams are in sync.
- They also generate 208% more revenue for their marketing efforts.
- On average, 50% of sales time is wasted on unproductive prospecting, which has historically caused sales reps to ignore 50% of marketing leads.
With ABM, sales teams focus on prospecting ONLY the customers with the biggest potential spend – half of whom might otherwise have never entered the sales pipeline.
A fully developed account-based marketing strategy enables marketers to engage key personas at their target companies, and glean the knowledge they need to create impactful, personalized messaging at every stage of the game.
If you need help setting up a customized ABM strategy that works for your organization, a professional marketing agency can guide you down the right path.
Shannon Prager is the President of Leadit Marketing. She is responsible for the daily operations and management of Leadit Marketing as well as the long term vision for the company.
A marketing leader with over 17 years of B2B demand generation and marketing experience, she understands the importance of a fully developed marketing strategy. Shannon’s background includes demand generation, marketing automation, social media and marketing operations. You can follow her on Twitter via: @LeaditMarketing