According to a study by CMO, 71% of the companies that invested in account-based marketing reported their Return on Investment (ROI) is somewhat or significantly higher than traditional marketing methods.
ABM maturity and B2B sales revenue are intertwined, with ABM contributing to shorter sales cycles, optimized customer experiences and pulsation of other account-specific strategies for fueling and driving the demand generation engine.
Read more on Top 5 Ways to Supercharge ABM with Intent Data
What does ABM stand for in B2B Sales and Marketing?
ABM stands for Account-Based Marketing. It is a well-orchestrated approach to business marketing based on account awareness, wherein an organization considers and communicates with individual prospects or vital accounts with utmost importance. ABM maturity and B2B sales revenue are intertwined as ABM streamline the gap between sales and marketing, directing marketing resources to engage a specific set of target accounts.
Robert Hollier, Director of Consulting and CoE at MomemtumABM defines account-based marketing as follows:
“ABM is not just getting quick results. It’s a transformational programme.”
How does ABM work?
According to research by Forrester, ABM maturity and B2B Sales Revenue are Intertwined.
For the marketers questioning why do account-based marketing, the following statistics are good enough reasons:
- 86% of account-based businesses reported improved close rates and 80% percent accede that account-based strategies are driving increased customer lifetime value (Source: TOPO).
- Companies using account-based marketing witness a 171% improvement in the grass contract value (Source: TribalVision).
The above statistics clearly reflect how ABM maturity and B2B Sales are Intertwined. Now the question that what does ABM mean in marketing is clear, let’s delve into how the ABM maturity helps B2B marketers accomplish their revenue goals:
1. Mature ABM Programs Yield Efficient Business Outcomes from Top Customers and Prospects
According to TOPO, less than 20% of the companies actually run mature account-based marketing programs.
As ABM maturity and B2B Sales Revenue are intertwined, several progressive B2B marketers are realizing that with the rapid adoption of account-based strategies they are driving the most compelling revenue metrics.
This boosts the economic front of the organizations.
According to the latest research report Moving to ABM Maturity: 2019 ABM Benchmark Study, by ITSMA and ABM Leadership Alliance (of which Demandbase is a founding member), 21% of the respondents expect an increase in their current ABM budgets.
The report deciphers that ABM continues to generate greater business outcomes from top customers and prospects and that the ABM maturity and B2B sales revenue are Intertwined.
As ABM matures, marketers choose to focus on fewer or high-value ABM accounts. Mature ABM Programs fine-tune buyer experiences for most important prospects and customers.
2. ABM maturity drives growth by targeted growth-based models
ABM maturity and sales revenue are Intertwined and ABM keeps a track record of marketing dynamics. The inbound, volume and velocity models have peaked for many marketing organizations and practicing a targeted account-based approach is imperative for them to win more sales deals.
A report by CMO suggests that companies with the most effective ABM strategies are more likely to have invested in analytical technology (69%), account insights (67%) and engagement insights (56%). Also, 27% of the respondents were using predictive technology and 22% were planning to add this functionality to their ABM technology stack in the coming 12 to 18 months.
ABM maturity and B2B sales revenue are intertwined and the development of mass combustible campaign assets allows your ABM strategy to scale.
3. Positive Implications of Persistent with Your ABM Endeavors extend far beyond Sales
Marketers must be patient with their ABM endeavors. Though ABM maturity and B2B sales revenue are intertwined, it takes quite some time for your ABM to mature.
ABM can generate considerable revenue quickly but takes time to mature. The most mature programs have far greater business implications than merely generating sales revenue. Mature ABM Programs also boost sales pipeline management and branding endeavors strengthening your overall omnichannel reputation management framework.
4. ABM Maturity means optimum collaboration between marketing and Sales Teams
Within the most efficient ABM frameworks, the marketing and sales work in close association with each other. ABM-ers work hand-in-hand with the inside sales teams, bridging the gap between sales and marketing.
5. Sustain Your High-Impact Success by investing in Insights
The best ABM-ers are those who make data-driven decisions. First and their party intent data can help marketers stick to a customer-centric approach based on data-driven insights.
As ABM maturity and B2B sales revenue are intertwined, marketers need to deep-delve and fetch the most important data points, to increase their market share and sustain their business growth.
Read more on Top 5 Ways to Supercharge ABM with Intent Data
6. Omnichannel marketing fetches best Marketing Results
The modern B2B marketers need to understand that in a fiercely competitive B2B world, as ABM maturity and B2B sales revenue are intertwined, they cannot solely rely on digital marketing endeavors to upscale their business.
The most efficient ABM programs use both digital and physical approaches to fully integrate sales and marketing practices.
Moreover, the markets can run several retargeting campaigns to track and convert the leads.
7. A blended ABM strategy boosts Sales Revenue
ABM maturity and B2B sales revenue are intertwined, nonetheless, just using one type of ABM wouldn’t give you optimized results.
Effective ABM programs are a blend of one-to-one, one-to-few ABM and one-to-many ABM.
Wrapping Things Up
Account-Based Marketing is a go-to marketing strategy. It’s a highly valuable and recommended strategy for marketers considering that it enables personalized experiences for specific customers across all functions impacting them such as marketing, sales development, sales, and customer success. Furthermore, in modern times, the ABM strategy is all-set to go multi-channel for maximized output. The marketers need to involve the physical as well as digital channels to drive engagement with a targeted set of accounts as ABM maturity and B2B sales revenue are intertwined.
Measuring the success metrics aligned with your ABM strategy is equally important.
According to a report by TOPO, early adopters are witnessing impressive results, as substantiated from measuring strategic revenue metrics. Mature account-based companies observed up to a 150% increase in metrics such as LTV.
According to Rob Leavitt, Senior Vice President of ITSMA, “ABM has clearly gained mainstream acceptance in B2B marketing already; the next step for even greater business impact is gaining full collaboration and support across top business and sales leadership.”
The year 2020 will witness a shift in ABM strategy for being a dedicated marketing practice to an all-inclusive corporate initiative, owing to the fact that ABM maturity and B2B sales revenue are Intertwined.
Valasys Media is a well-renowned name in providing all-inclusive B2B marketing solutions to its clients. Our B2B services include Event Marketing, Content Syndication, Lead Generation, Contact Discovery, Account-Based Marketing, Lead Nurturing & Appointment Setting services, all of which have been designed to address the marketing challenges of our clients and help them accomplish their business bottom-lines.
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Contact us if you are an ABM practitioner looking forward to skyrocketing your revenue goals or simply, for any other help to boost your marketing endeavors.