Account-based marketing (ABM) is like spearfishing. You set a single goal rather than spray and pray. This centralizes sales and marketing efforts onto a single account to generate higher revenue inflows.
The ABM approach bridges the gap between these two critical departments. It establishes a shared purpose and helps attract potential buyers through a personalized messaging strategy. ABM becomes even more relevant and valuable when you have to coordinate many decision stakeholders.
When sales cycles get longer, ABM engages different stakeholders based on their varying needs to increase the chances of closing more deals.The company adopts professional Account-based analytics software Gather insights that can help engage these stakeholders.
Top account-based marketing statistics
here are some account-based marketing Statistics that provide insights on the latest trends in the market.
- In 2019, 40% of B2B marketing teams participated in ABM programs.
- ABM team staff decreased by 7%, indicating their increasing integration into broader marketing efforts.
- 91% of companies with 1,000 or more employees have fully implemented ABM programs in 2020.
- The global ABM market size was US$749.4 million in 2020, with a compound annual growth rate (CAGR) of 11.6% from 2020 to 2021.
70%
of U.S. B2B digital marketing leaders plan to invest in ABM technology in 2023.
Source: Adweek
- In 2020, the U.S. ABM market is expected to reach US$202.3 million. Australia, India and South Korea were the other major countries leading the Asia-Pacific region in 2020.
- The ABM market value will reach US$1.07 billion in 2023.
The impact of account-based marketing
Many companies have been investing in ABM over the past few years. The following statistical evidence proves this and illustrates why ABM is a logical choice for teams targeting large accounts.
- Implementing ABM increased average annual contract value and marketing revenue by 171% and 200% respectively.
- Companies using a consistent ABM strategy grew revenue by 208% and profits by 27% in three years.
- ABM marketers saw a 500% increase in target account traffic.
- Most ABM projects (64%) were started in the past five years, and many of them (68%) have adopted automation.
- 73% of marketers say ABM helps increase deal size by focusing on lead quality.
76%
ohMarketers achieve higher return on investment (ROI) with ABM than with other methods because they value its long-term benefits, such as better teamwork and efficiency.
Source: Momentum ITSMA
- Companies reported revenue growth of 10%, with 19% reporting revenue growth of more than 30% after using ABM for at least a year.
- 85% of users find ABM critical to retaining and growing customer relationships.
- 80% of marketers say ABM increases the value a customer brings over their lifetime.
- 83% of marketers say ABM increases target customer engagement.
- 61% of companies found that ABM increased channel opportunities.
- Through ABM adjustments, customer retention rates can be increased by 36%.
- ABM can reduce time spent on unproductive sales prospecting by 50%.
82%
of B2B marketers find that ABM improves teamwork between sales and marketing.
Source: Requirements Library
- 80% of marketers believe that high-quality, relevant content significantly influences purchasing decisions.
- Combining ABM with broader demand generation efforts achieves the best results, with 40% of businesses working to balance the two strategies.
Why we need account-based marketing
ABM strategies bring sales and marketing together. As a team, they target and engage customers through customized content. These studies and reported statistics show how implementing an ABM strategy can help businesses grow.
- About 30% of marketers report using ABM to double the frequency of interactions with senior company leaders.
- 71% of ABM marketers employ Marketing Automation Tools.
- 69% of high-performing ABM companies have a dedicated ABM leader.
- 61% of marketers customize content for specific industries.
43%
of marketers believe in the importance of advanced data management to ABM success.
Source: Forrest
- 42% of marketers use personalized content to increase customer engagement and cultivate long-term relationships.
95%
of marketing leaders believe ABM succeeds in achieving important goals. 40% believe their ABM strategy is best-in-class.
Source: Gitnux
- 90% of ABM marketers aim to create new business, with 50% focused on accelerating sales pipelines and 63% on customer retention.
The future of account-based marketing
Although business to business The industry finds more applications, business to consumer Companies and other sectors are also adopting ABM. Here are some statistics showing how ABM will shape the future:
- 49% of companies are shifting their focus to growing existing customers.
- One-third of marketing VPs plan to increase ABM budgets by 30%.
80%
of customers seek a personalized experience.
Source: Epsilon
- 29% of marketers use ABM to target 101 to 500 accounts.
34%
of marketing professionals plan to adopt ABM in the future.
Source: Quiet
- ABM shortens sales cycles by 40% and improves team performance. This shows the growing importance of ABM in modern marketing.
Led by customer-based marketing strategies
As ABM matures, companies are pushing for customization contentintelligent positioning, robustness Sales and Marketing Make an alliance. Here are some key statistics that can give you some insight into these ABM strategies.
- Integrating sales and marketing teams can increase deal closing rates by 67%.
- 56% of marketers believe personalized content is critical to ABM success. 40% of respondents also praised good data management.
42%
of marketers consider lead generation one of the top performance indicators in their ABM strategy.
Source: terminus
- Companies with strong ABM strategies attribute 79% of their opportunities and 73% of their total revenue to ABM.
- ABM users’ reputation increased by 84% and customer relationships improved by 80%.
Key challenges with account-based marketing
Companies in the early stages of implementing ABM need assistance in effectively evaluating their ABM efforts. Here’s a brief look at the challenges marketers face when implementing account-based marketing.
- For 37% of marketers, finding adequate budget and resources for ABM is difficult.
32%
of leaders struggle with sales and marketing alignment.
Source: Ascend2
- 17% of marketers have fully developed ABM strategies. The rest are still figuring out how to set up ABM.
- 43% of B2B marketers have to deal with unreliable data when selecting targets.
- 42% of companies that fail to achieve their ABM goals attribute their failure to insufficient leadership.
Lead with intention
ABM uses intent data to personalize messaging and engage key customers. It is suitable for companies with slightly longer or complex sales cycles. If you’re considering trying ABM in your organization, you need the right tools.
For example, G2’s intent data reveals potential buyers’ key areas of interest. You can use this data to attract more leads and close more deals.
Learn more about how to take advantage G2 buyer intent data In your account-based marketing campaigns.
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Pingback: 46 Important Account-Based Marketing Statistics for the Modern Marketer – Tech Empire Solutions
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