More than half of the respondents said they are confident that ABM is the right strategy for their business, says Folloze study
Folloze, a personalized B2B Marketing Platform has released the second annual “State of ABM” survey. The report is based on a survey of 300 senior-level sales and marketing professionals to explore key account-based marketing (ABM) challenges including relevant technologies, use of ABM pillars, and scaling.
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About 53% of marketers are confident about their ABM strategy and 15% of them want ABM capabilities; however, most have not yet started its implementation. Nearly one-third were neutral on ABM as a strategy, owing to building out business processes and the martech stack to successfully execute ABM. The need for ABM will continue to grow and will be driven by sales plans to reach more customers in an individualized fashion, the report found. More than 56% of professionals say sales are driving decisions around ABM technology.
Some of the key findings of the survey:
- More than 21% said they don’t create personalized experiences at all, and more than 31% say they must personalize manually.
- Only a quarter of the marketers were confident in their company’s ability to execute ABM at a scale of 1,000 accounts or more.
- More than half of the respondents said they struggle to create personalized experiences at the vertical level.
- Only 10% were confident that sales teams can help create personalized experiences
The report notes that nearly 75% of them are using ABM to accomplish key account selection and targeting, while some 68% are personalizing content by vertical to drive the customer journey.
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Traditionally ABM has been equated with small numbers of prospects; however today modern ABM platforms enable B2B marketers to drive engagement at scale. Marketers are benefitting from personalized ABM programs at a scale that is helpful especially during disruptive market conditions like the COVID-19 pandemic.