Just because you have eaten in a restaurant doesn’t mean you can run one.
60% of restaurants do not make it past the first year, and 80% go under in five years.* It all starts with such good intentions. You and your buddies are going to open a bar/restaurant and crush it. How could it possibly fail? You’re positive you could manage a place better than the ones you frequent. You know exactly how to run a successful joint. How hard could it be?!
There are a lot of ABM themed restaurants popping up lately.
92% of B2B marketers consider ABM extremely or very important to overall marketing efforts and 50% of all companies already have a pilot program in place. –SiriusDecisions
However, The Definitive High Performance ABM Capabilities Benchmark Report, by Demand Metric, on behalf of the Account Based Marketing Consortium, paints a sobering picture and reveals a wide range in sophistication levels among ABM adopters.
“At the forefront is a small group of elite practitioners (18%) who attribute revenue increases as high as 25% to ABM. At the bottom of the learning curve are 32% who say the practice has either had a negative impact on their top lines or that they are uncertain. In the middle are the remaining 50% who said they think ABM is having a favorable effect, but they haven’t been able to measure it.”
Yes, you read that right! 82% of ABM practitioners are unable to measure a positive revenue impact!
Many marketers building an ABM program skip a number of steps and jump right to the campaigns. Too often we don’t want to spend a lot of time on the boring planning—we want to jump to the payoff…the engagement.
How many of us buy a toy for our child only to come home and find out we have to spend an hour reading and following instructions in multiple languages before we can see the excitement in our child’s eyes? How many times have you skipped a few—or all—of the instructions in an effort to assemble the toy faster?
Flipping your funnel is harder than flipping a switch.
Seek out experts – practitioners, not self appointed “thought leaders”, stay patient and focused, and ABM will provide the ROI you are expecting.
No matter which route you choose, Markistry recommends that you begin with our ABM Workshop and Revenue Blueprint. These two engagements ensure that your diverse team begins with the same baseline of knowledge and has the compass and basic roadmap to head in the right direction.