Account-Based Marketing (ABM) is quickly becoming a must-have for B2B marketers. In fact, data from Demand Metric show that 71% of B2B organizations interested in adopting ABM, are testing or already using it.
Through our conversations with B2B marketers, we’ve learned that there isn’t one single path that companies can take as they implement ABM. Rather, that every company is different—with their own challenges, goals and technology stacks.
Our Chief Marketing Officer, Peter Isaacson, wrote about this topic recently for MarketingLand. According to Peter, there are 4 key areas that are critical to a successful ABM implementation:
- Sales and Marketing Alignment
- Target Accounts
- Marketing Programs
Sales and Marketing Alignment
In most B2B organizations, sales and marketing teams are often at odds with each other. ABM helps get teams on the same page by focusing them on the same set of accounts and a commitment to collaboration.
There are quite a few ways to select target accounts. A lot of companies start by focusing on company size or industry or both. As they become more sophisticated with their targeting, many focus on sales cycle and start differentiating between prospects, customers or even late-stage pipeline.
Most B2B marketers initially focus their ABM efforts through digital programs. But robust ABM strategies include both digital and analog programs and are not limited to advertising and marketing technologies.
Too often B2B marketers report on campaign metrics—which are helpful at diagnosing program performance—but are too far removed from revenue to reflect business impact. To measure the true impact of ABM, B2B marketers need to measure close rates, retention, upsell and annual contract value.
From this analysis, we created the ABM Maturity Model based on the experiences and growth we’ve seen from hundreds of B2B companies that have adopted ABM.
It outlines the levels of sophistication by tier across these components:
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