Interest in account-based marketing (ABM) services continues to grow, as marketers seek results in B2B sales and businesses look for more reliable strategies. But as we know, not all marketers are ready for ABM – and many still have unanswered questions. With over half (58%) of senior B2B marketers across the US and UK planning to increase their ABM spend over the next 12 months, it’s clear that now is the right time to be focusing on key account-based marketing activities.
While nearly half (48%) of B2B marketers say their ABM strategy is well established, there’s clearly room for improvement for the remainder – which is why the Targeted Demand Generation approach, bridging traditional demand gen and ABM, comes in.
Key to delivering the best possible results and ROI, the appeal of Targeted Demand Generation lies in its ability to deliver both short-term and long-term wins for B2B marketers. We explore its growing popularity and how it is assisting B2B marketers in bridging the gap between traditional demand generation and their ABM objectives.
To simplify your understanding, we’ve created an easily digestible account-based marketing infographic that addresses the 15 most commonly asked questions and answers surrounding ABM.
These insights are shared by senior marketing professionals from our Insights for Professionals (IFP) community, forming a key part of our comprehensive Account-Based Marketing (ABM) Research Report 2023. Access the complete report in full here.
Top ABM FAQs:
Some of the top questions asked by B2B marketers from our account-based marketing infographic include:
How has ABM grown in maturity?
The maturity of ABM among marketers varies; 7% believe they are in the early stages of ABM implementation, 19% indicate they are scaling up their ABM efforts, while a significant 48% report that their ABM strategies are well established and 26% have achieved full synchronization with ABM in their marketing efforts.
What are the top 3 KPIs for an ABM program?
Market growth: measures the increase in market share or expansion into new markets. It shows how successful an ABM strategy is in growing the business and gaining a more substantial foothold in the market.
Customer retention: tracks how well the ABM program is maintaining existing customer relationships. High customer retention indicates that the program is effectively engaging and satisfying customers, leading to customer loyalty.
Lead generation: measures the number of new potential customers or leads that the ABM program generates. It indicates the program’s effectiveness in attracting new prospects and converting them into leads.
How much of my overall marketing budget should I allocate to ABM?
Considering industry standards, you should allocate 25-50% of your overall marketing budget to ABM, with the majority (41%) of B2B marketers dedicating this amount.
Should I be looking to increase my budget over the next 12 months?
Given the industry trends, it would be prudent to consider increasing your budget for account-based marketing over the next 12 months. This strategy aligns with the majority of marketers, with 61% reportedly increasing their ABM spending. Only a mere 6% are decreasing or spending nothing at all on ABM, while the remaining 33% are maintaining their current budget. This suggests that the industry is leaning towards a higher investment in ABM, attributing to its potential for higher ROI and effective lead generation.
What are the top 3 challenges when it comes to planning and executing ABM?
When it comes to planning and executing account-based marketing, the top three challenges identified are:
- Managing internal skills gap and resource constraints
- Determining the most suitable accounts to target
- Overcoming the lack of sales and marketing alignment.
How is strategic (1:1) ABM being run?
Strategic (1:1) account-based marketing is a highly personalized and targeted approach that is typically used to engage individual high-value accounts. Based on the data, it’s clear that the utilization of strategic ABM varies among organizations…
17% of B2B marketers apply this method exclusively for targeting their existing client and customer accounts, aiming to deepen relationships and increase account value. 16% use strategic ABM solely to acquire net new accounts, leveraging personalized campaigns to attract and engage high-value prospects.
While the majority (65%) utilize this approach for both purposes – targeting both existing clients and new prospects to maximize the effectiveness of their ABM strategy.
A small fraction, 2%, do not use strategic ABM at all, possibly due to resource constraints, a lack of necessary skills, or a preference for other marketing strategies.
How is programmatic ABM being run?
Programmatic ABM is run in diverse ways depending on the specific needs of businesses. Just under a quarter (23%) of marketing professionals use it specifically to target existing client and customer accounts. This approach is typically taken to nurture existing relationships and seek upselling or cross-selling opportunities.
21% of marketers use programmatic ABM solely for net new accounts, focusing on expanding their customer base. While the majority (51%) adopt a hybrid approach, using programmatic ABM for both existing and new accounts, seeking a balance between customer retention and acquisition.
However, it’s worth noting that 5% do not use programmatic ABM at all, indicating it may not be suitable for all businesses or marketing strategies.
Are marketers seeing ROI on their ABM efforts?
Yes, the majority of marketers are seeing a return on investment (ROI) on their account-based marketing efforts. Specifically, two-thirds (66%) of marketers reported seeing a higher ROI from their ABM activities compared to other marketing approaches, while 19% experienced a similar ROI. However, it should be noted that 15% of marketers reported a lower ROI from their ABM efforts.
What tech are other marketers using to support their ABM strategy?
Other marketers are utilizing various technologies to support their account-based marketing strategy. 43% use a bolt-on or unintegrated solution. 38% prefer to use a dedicated ABM platform. While 19%, rely solely on a customer relationship management (CRM) system or marketing automation platform (MAP) to execute their ABM strategy.
What are the 3 biggest obstacles to tech investment?
The three biggest obstacles to tech investment are:
1. IT department constraints
2. Budget limitations
3. Lack of knowledge about available options.
IT department constraints may limit the implementation of new technologies due to existing infrastructure or skill gaps. Budget constraints on the other hand, often prevent companies from investing in costly but potentially beneficial technologies. While the lack of knowledge about the range of available tech options can hinder companies from making informed buying decisions and leveraging the best tools for their needs.
What top 3 factors steer tech investment?
The top three factors that steer tech investment are:
Cost: An essential determinant, as budget constraints can limit the type and extent of technology that a business can invest in. The overall expense includes the initial purchase cost, implementation, and maintenance costs.
Functionality: The performance utility of a technology significantly influences its adoption. Businesses aim for technology that effectively meets their needs and helps achieve their objectives.
Ease of use: Technology usability plays a crucial role in its adoption. If a technology is user-friendly and easy to operate, it improves efficiency and productivity, making it a worthwhile investment.
What 3 channels are voted the most crucial to an ABM strategy?
The three channels that are voted most crucial to an account-based marketing strategy are:
Programmatic display: This channel is essential for ABM campaigns as it can target specific audience segments at an affordable price, thus, boosting performance and accelerating conversions and ROI.
Advertising: Particularly programmatic advertising, this channel provides control over ad placement and audience targeting through automation and algorithms for tailored advertising strategies and optimal impact.
Content syndication: This is a common channel used in ABM strategies. Content syndication campaigns involve the republishing of relevant content on other sites to reach a larger audience. It can help amplify brand messaging and drive more targeted traffic to the company’s website.
What are the most common personalization tactics?
The most common personalization tactics in account-based marketing includes content tailored to the industry (46%), content tailored to specific accounts (45%), and content tailored around action-based intent data (44%). These tactics allow marketers to deliver personalized content and customized messages to the target audience, enhancing engagement and conversion rates.
How frequently should I sync my ABM efforts with sales and sales development teams?
The frequency at which you should sync your account-based marketing efforts with sales development and sales teams varies. However, the majority of B2B marketers (37%) suggest a weekly sync. A significant portion (28%) recommend a fortnightly sync, while just under a quarter (23%) suggest a monthly sync. Only a small percentage (8%) recommend real-time syncing, and an even smaller group (3%) suggest doing so on a quarterly basis. So, a weekly or fortnightly sync could be considered the optimal time period.
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Want to learn more about the State of Account-Based Marketing in 2023? Download the full report here.