Multiple types of research prove that with digital and traditional marketing tactics failing; only Account Based Marketing seems to ensure higher RoI
For marketers, the ultimate goal is to increase opportunity engagement throughout the funnels and pipelines. To achieve these goals, marketers have to adapt, adjust, and accelerate their strategies and plans.
Since marketers are expected to be as effective and efficient as possible with their resources, budget, and time, ABM is proving to be very successful in achieving goals. According to a report by The Alterra Group report, ABM shows a higher ROI than any other marketing activities. A report by ITSMA also notes that for 87% of marketers, ABM outperforms other marketing investments in terms of ROI.
For marketers, it is getting difficult to reach C-suit buyers, and the traditional and digital marketing tactics are not working as well as they did ones. Buyers no more answer the phone or return calls as much as they once did. According to a report from TOPO, an advisory and research firm that focuses on B2B sales and marketing issues notes that on an average it takes up to 18 calls to reach one buyer. The problems grow greater as average email open rate has fallen to less than 18%. A study from the Hinge Research Institute, ‘Inside the Buyer’s Brain,’ also suggests that over the last fifteen years, the rate of making decisions from referral suggestions has dropped to less than 5% in the previous few years.
According to a report by SiriusDecisions, over 90% of B2B marketers across the globe consider ABM “extremely” important to the overall marketing efforts.
For B2B marketers, universal messages no longer drive engagement and buying. Customization and Personalization have become the names of the game now. Buyers now want to speak to genuine sellers and who can deliver tailored products and services.
As ABM brings together data-driven programs, targeted accounts, and personalized buyer experiences into a single outreach that is coordinated, this approach is also becoming broad to ‘Account-Based Everything’ or “ABX.”
The ‘State of ABM’ report mentions that 91% of companies that use ABM were able to increase the average deal size, and for 25% of companies, AMB resulted in increased revenue by 50%.
Research from TOPO and the ABM Leadership Alliance shows that the companies that implemented ABM saw over 170% increase in their Annual Contract Value (ACV). Gartner’s research also indicates that ABM programs provide a boost in opportunities by 70%.
Experts believe that a well-planned Account-Based Marketing (ABM) strategy can have a dramatic and positive impact on ROI, but it is essential to be patient and set realistic expectations based on sales cycle and skills of the team members. There will be a need for changes to the ABM program, but sticking to the program will see optimization kick in and the occurrence of bigger payoffs.
Experts suggest that the key to ABM success is to unify and coordinate traditional and digital marketing tactics—and then execute, measure, communicate, and optimize.