Account-based marketing (ABM) is still a top priority B2B marketing strategy for B2B companies. Most ABM programs are driving measurable impact. B2B marketing leaders will need to realize the value of evolving ABM tools in 2023 and leaders to increase investments for a better ABM strategy.
That makes sense because the way digital marketing investments are expanding, organizations must have ABM marketing strategy to boost revenue. One of the interesting aspects of the current Account-based Marketing (ABM) is the balance between continuity and consistency of marketing efforts organizations will take advantage of.
Based on the continuity and consistency factor with advanced account-based approaches, marketers must acknowledge the following Account-based Marketing developments in 2023.
Companies Will Invest Double in ABM Program Spending
The latest ABM benchmark study by HubSpot in Elevating ABM: Building Blocks for Long-Term Growth Research 2022 ABM Benchmark Study found that 28% of the marketing budget was for ABM in 2022. With a result-driven approach, it is forecasted that 71% of companies will increase ABM program spending by 13.1% in 2023.
Also Read: Ultimate Strategies for Account-Based Marketing
The current ABM programs provide measurable improvements across various accounts and organizational goals. ABM results in a higher return on investment than other marketing types. The same study also finds that 60% of companies have experienced a 10% increase in revenue after implementing the new ABM program. Companies will increase their investments for effective marketing plans, campaigns, and strategies. For this, they must address the business expectations with ABM, regarding customization, measurement, and alignment with business goals by keeping sales and marketers on the same page of marketing.
Account-based Strategies Will Become More Embedded
2023 will pressure marketers to remove data silos sooner to implement the latest ABM strategy. With the high demand for precise solutions among customers, marketers will require more ABM-drive activities to target more relevant accounts faster. It means marketers will require to multitask to manage data and analytics within the software and creating mass marketing efforts that serve a range of customers’ needs. The scenario of the ABM approach in 2023 will help organizations to shift from a standalone program to a strategic go-to-market strategy. It will help expand the program from focusing only on top accounts to new potential accounts to achieve must-win deals.
Greater Standardization
Standardization in account-based marketing strategies will be essential to align ideal customer profile (ICP) and account engagement to achieve scaling ABM results. In 2023, organizations will implement account-driven workflows, align tools and establish a central approach for teams to adhere to current marketing drifts. By doing this, marketers can enable effective ABM programs without compromising the core policies of an account-based strategy. With that said, organizations will have to relook at their approach to messaging through different marketing campaigns, and the focus must be on account content and personalizing campaigns at scale.
Business Objectives with ABM Will Balance New Opportunities and Growing Existing Accounts
In 2023, marketers will leverage the power of ABM to balance new business opportunities and grow existing accounts. The balancing act will also reflect in setting equal priorities to market new and existing accounts. In a study by HubSpot Elevating ABM: Building Blocks for Long-Term Growth Research 2022 ABM Benchmark Study, marketing to new accounts will increase by 25%, which will increase investments in ABM marketing campaigns by 14%. The figures predict that marketers can effectively strengthen brand reputation with targeted accounts, thus giving opportunities to enter new markets and market to new potential buyers.
The Upsurge of Content Marketing
The role of content marketing will rise in the new ABM landscape. Marketers may harness the power of content marketing to create and distribute valuable, relevant, consistent, and, most importantly, personalized content to attract and nurture prospects on their buying journeys. In addition, such content will also keep existing accounts engaged through informative content.
Content can highly personalize ABM-driven marketing campaigns. Such contents are industry and business specific, which helps customers to achieve solutions efficiently. By creating valuable and customized content for campaigns and other marketing efforts, marketers can boost customer experiences (CX).
This way, there is consistency in the sales cycle, which will be essential for marketing in 2023.
Ultimately, marketers must define precise goals to create content that impacts ABM strategies. Soft metrics, such as shares, more followers, or increased traffic, are analytical measures to create more relevant and personalized content. The targeted approach of ABM requires more concrete metrics, such as increased pipeline velocity, lead generation, and revenue.
Marketers Will See More Marketing Cloud Solutions
With the rise in demand for marketing automation platforms, marketing cloud solutions will help marketers to implement their ABM strategy to move ahead with competitive marketing. Ideally, these developments will allow them to build faster marketing campaigns, manage leads faster, create and manage content efficiently, and measure all campaigns’ success. That said, cloud-centered CRM systems will be the need of the hour for marketers, because they help get a better view of prospects after engaging through sales. Organizations can gain insights into the most engaged accounts and see how those have interacted with the content, landing pages, or emails. This ABM program will be a significant development in 2023.
Also Read: Three Crucial Ways How Content Can Undermine Account-Based Marketing
Quick Tips to Create a Successful ABM Program for 2023
Marketers can identify the areas where the most successful programs will stand apart. Leading account-based marketing programs are likely to be successful in the following ways:
- Build ABM strategy aligned with corporate growth
- Focus on top and essential accounts
- Invest in ABM training and certification for employees’ skill development
- Invest in embedded ABM program tools that are cost-effective
2023 will be crucial for the development of precise account-based strategies. Marketers need to consider these developments to advance their marketing landscape. This will also show.
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