The account-based marketing (ABM) movement has grown rapidly in the last year. As ABM technology continues to grow and reach the demands of many B2B marketers, more teams are beginning to adopt the strategy that they have long wanted to implement.
We, in partnership with Terminus, launched the ABM Metrics Survey to help the B2B marketing community better understand the ABM space, uncovering challenges marketers are facing and how they are measuring success. Also, the report will help marketers who are not yet doing ABM understand if an account-based strategy is right for them.
The survey results, without a doubt, confirmed that ABM is on the upswing — but it also found that it is still in the early days of development. Of the respondents who said that they were currently doing ABM, the majority said that less than half of their marketing efforts are account-based. The growth of ABM, however, is certain. Nearly every respondent who was doing some ABM believed that in the next six months ABM would account for a greater percentage of their total marketing efforts.
While there is promise and potential, there are still a lot of challenges in successfully implementing an ABM strategy. Of the main ABM areas, respondents said that Execution and Measurement were the biggest challenges.
Here are some of the key findings:
60% of respondents say that ABM accounts for less than half of their total current marketing efforts
Over 85% of respondents say that they will be doing “A Little More” or “A Lot More” ABM in the next six months
Only 40% of respondents say that Revenue Generation is their primary metric to measure ABM success
About 80% of respondents who are doing ABM say that their efforts have been either “Moderately Successful” or “Highly Successful”
35% of respondents say that the Execution phase is their biggest ABM challenge; 30% say that the Measurement phase is their biggest challenge
ABM On The Rise
The majority of marketers who are doing ABM today say that ABM makes up less than half of their total marketing efforts. That means that there is a lot of room for growth...and the next chart says that growth will happen.
About 85% of marketers who are doing ABM today, expect to be shifting more of their marketing to ABM in the next six months. Meanwhile, no marketers in the survey reported plans of shifting their marketing away from ABM.
When asked to compare across the areas of ABM, about one in three marketers said that Execution was the most challenging. Measurement was the second most frequently chosen area, with about 30% of the respondents saying that it was their biggest challenge.
This is a function of where marketers are in their ABM development. Whenever there is a hot, new methodology, the first challenge is often to test things out and figure out how it works. As marketers continue to develop their ABM strategies and certain ABM deployment technologies rise to the top, the next challenge will be measurement -- Does it work? What’s the ROI of these strategies and tactics? Are they generating revenue?