Account-based marketing (ABM) has gained popularity among B2B marketers due to its personalized approach. It involves targeting high-value accounts or customers with tailored content, creating deeper connections, and boosting revenue growth. As ABM becomes increasingly integrated into many companies’ marketing strategies, it’s crucial to understand its current state and effectiveness. In this article, we will share insights and discoveries from the 2022 studies on account-based marketing.
The value of ABM studies is undeniable as they provide crucial insights into the effectiveness of ABM programs and the attitudes and practices of ABM marketers. Such studies act as a guide for companies by highlighting trends and offering advice on how to establish their ABM program.
The 2022 ABM Study Findings
The ABM Leadership Alliance conducted a study on account-based marketing in 2022, revealing essential insights from survey respondents who oversee ABM programs in their organizations. The report highlights several key findings, including:
According to survey respondents, the average allocation of their total marketing budget for ABM is 28%. This indicates that companies recognize the value of ABM in reaching high-value accounts and are willing to invest in it.
According to the survey, 71% of the respondents plan to increase their ABM spending in the fiscal year 2023. This indicates that ABM is a rapidly growing trend in the industry and that companies are prioritizing it as an essential component of their marketing strategies.
According to the survey, 47% of the respondents reported using at least two types of ABM, indicating that companies are implementing multiple ABM strategies to enhance their probability of success.
When considering the objectives of their ABM programs, the survey respondents place equal importance on both winning new accounts and growing business with existing accounts. This demonstrates that ABM is utilized for both new customer acquisition and customer retention purposes.
The development stages of ABM programs were highlighted in the survey, with over 56% of respondents stating that their programs are in the early stages of development, either “exploring” or “experimenting.” This finding suggests that there is still considerable scope for improvement and development in ABM programs.
According to the survey, there is a significant difference between the behavior of “ABM Leaders” (defined on page 25 of the survey report) and that of “All Others.” Specifically, ABM Leaders are more likely to:
To enhance your marketing efforts, consider incorporating personalized messaging (73% compared to 51% without), implementing sales-plus-marketing campaigns (67% compared to 48% without), and targeting campaigns towards a larger number of decision-makers (62% compared to 37% without).
These findings indicate that leaders in ABM are more advanced in their ABM programs and have greater success due to their deployment of personalized messaging, sales and marketing campaigns, and campaigns targeting multiple decision-makers.
Findings from the ITSMA Survey
Apart from the ABM Leadership Alliance study, the Information Technology Services Marketing Association (ITSMA) conducted a survey among marketers who employ ABM. The following are the key findings.
According to the ITSMA survey, respondents reported allocating an average of 28% of their total marketing budget towards ABM. This finding is consistent with the ABM Leadership Alliance report, which suggests that companies are willing to make significant investments in ABM strategies.
According to the latest survey results, 84% of respondents stated that they plan to increase their ABM activities moderately or significantly within the next 12 months. This indicates a growing interest in ABM among companies, who are seeking to implement more ABM tactics as part of their overall marketing strategy.
In conclusion, the insights and discoveries gleaned from the 2022 ABM studies offer valuable information about ABM strategies, budget allocation, and the current state of ABM programs. The findings reveal that companies are utilizing various ABM tactics and investing a significant amount in ABM due to its effectiveness in targeting high-value accounts. Moreover, the report shows that ABM Leaders are more advanced in their ABM programs and have a higher success rate. The ITSMA survey also corresponds with the ABM Leadership Alliance’s findings, indicating that marketers plan to ramp up their ABM activities in the next 12 months. These studies provide valuable guidance for companies to develop and improve their ABM programs, which could lead to greater business growth and customer retention.