Not surprisingly, the leading objective of account-based marketing (ABM) is to grow revenues per existing account, although many marketers are also hoping that ABM will increase their number of new accounts, according to a new study [download page] from Ascend2 and its Research Partners. The survey delves into the tactics marketers are finding effective as well as those requiring the most effort.
The most effective tactic, per respondents, is personalizing content and messaging. This makes sense given that the strategic approach behind ABM is to target individual prospects and accounts with personalized campaigns. The trouble identified in the report is that this tactic requires the most effort of all those identified.
Likewise, creating account-specific campaigns (another form of personalization) is one of the more burdensome tasks, also ranking highly in effectiveness.
By contrast, the basic tenets of an ABM approach are easier to develop. Profiling key contacts within accounts requires the least effort of the various tactics highlighted in the report, and identifying high value existing accounts (one of the most effective tactics), is also comparatively easier than personalizing messaging and campaigns.
If you’re getting started with ABM, then, these results suggest that identifying key accounts is the easy part, while creating and personalizing campaigns is going to require more effort.
The encouraging aspect is that respondents seem confident in the success of their account-based marketing approach. Some 84% consider themselves either “very successful” (38%) or “somewhat successful” (46%), and the vast majority (93%) feel that the effectiveness of the tactics they’re using is increasing to some degree.
A recent study from DemandWave found that only 37% of B2B marketers have tried or are currently using account-based marketing, up slightly from roughly one-third the year prior.
About the Data: The results are based on a survey of 305 marketing influencers surveyed in February 2017. Some 43% count B2B as their primary marketing channels, compared to 27% who are B2C-focused and 30% who target B2B and B2C equally.