Account-Based Marketing (ABM) is a marketing strategy wherein companies devote the majority of resources toward targeting a few big accounts, and it has been steadily growing in popularity in recent years. Marketing intelligence firm SiriusDecisions recently released its State of Account-Based Marketing survey, claiming that over 90 percent of marketers recognize the value of ABM and 60 percent stated they’ll be investing in it this year.
However, as MarketingLand notes, digging into the data reveals some gaps between what marketers think and what they’re doing. More than half of the responding companies had ABM pilots in place, but only 20 percent actually had implemented a full ABM program. The chief concern appears to be support and infrastructure; 47 percent of respondents fear they lack the talent and tools to execute an ABM program.
That concern is well founded; building a solid ABM team and establishing a support structure is key to ABM success. Sangram Vajre, co-founder and CMO, Terminus, specifically emphasizes the importance of aligning ABM and sales teams. Vajre notes that only 2 percent of cold calls result in an appointment (LeapJob,) because “what buyers are looking for is personalized, targeted marketing that really caters to their needs and pain points. In other words, they’re looking for a relationship.”
As eMarketer points out, SiriusDecisions’ data seems to bear out this notion; “respondents listed a multitude of responsibilities of ABM marketers, tops being working with sales to define account goals and plans—emphasizing the collaborative nature of ABM and the need for strong sales-marketing alignment (the good news: 91 percent of those with an ABM program in place said they were “tightly” or “somewhat or moderately” aligned with sales).”
Once a company has implemented a solid foundation to support ABM, it is recommended that it conduct a pilot program to assess specific needs, limitations and best practices and why not? The numbers clearly show that ABM is on the rise, so what are you waiting for? Let us answer any questions you have about ABM pilot programs and get you on the road to success.
To find out more about how ABM can increase your reach and target decision-makers at every stage of the buying journey, visit: https://www.madisonlogic.com/account-based-marketing/