Demand Gen. Report released some news about the Account-Based Marketing (ABM) industry in Demand Gen Report’s 2020 ABM Benchmark Survey. In it, a majority of marketers agree that Account-Based Marketing (ABM) has surpassed their expectations. This was because they saw an uptick in marketing efficiency, ROI, and confidence in ABM’s results. But those gains are hindered by a series of challenges, including poor marketing/sales alignment, determining intent, and developing Ideal Customer Profiles (ICPs).
By now, Account-Based Marketing is pretty well-known, especially with the accelerated digital transformations onset by a global public health emergency.
Demand Gen. Report released a some news about the ABM industry in Demand Gen Report’s 2020 ABM Benchmark Survey.
In it, a majority of marketers agree that Account-Based Marketing (ABM) has surpassed their expectations. This was because they saw an uptick in marketing efficiency, ROI, and confidence in the results. But those gains are hindered by a series of challenges, including, poor marketing/sales alignment, determining intent, and developing ICPs.
According to Rob Leavitt, Consulting of ITSMA:
“In the last year — with the pandemic and economic disruptions — ABM became even more valuable because many companies shifted their focus on existing customers over generating new ones…”
Leavitt continued, saying that it’s easier to stick with existing customers because you already have their information and foster a relationship with them.
But that’s not to say ABM doesn’t come with challenges—a significant amount of marketers struggle in their personalization efforts. Leavitt suggests that marketers practice the three Rs of ABM: reputation, revenue, and relationships.
On intent, Leavitt advises that the majority of marketers that use intent or plan to, review it both strategically and tactically. That way, marketing can give sales everything they need to succeed with accounts.
Intent data has limits, though. For example, it’s not as useful when working with large organizations.
In fact, Leavitt said that he:
recalled a project that one of his clients worked on with a major oil company. When analyzing the data, the company believed it had hit a home run. “The client would say, ‘Oh, my gosh, we ran ads and the personal landing page, and we got 100 people from the oil company,’” continued Leavitt. “So, I asked, ‘who are those 100 people? Are they people fixing oil rigs in West Texas, or are they executives?’ There are limits to intent data when it’s account-based, so it’s important to recognize those limits.”
In spite of that, intent is still popular.
In terms of ABM and 2021, blending it with demand gen. strategies bolsters “the lead qualification process, and lessens the time and guesswork dedicated to which prospects are likely to make a purchase.”
So companies that tread lightly when embracing ABM will have more success in this new year.
Original article from Demand Gen Report on April 2021.