Most B2B marketers practicing account-based marketing (ABM) are still experimenting (46% share) or expanding (27%) their adoption of this approach, with few (17%) having fully embedded programs that are driving strategic growth. That’s according to the 2022 ABM Benchmark Study [download page] from the ABM Leadership Alliance and Momentum ITSMA.
Based on a survey of 279 ABM heads and practitioners who are marketers at B2B technology and business services companies, the report reveals that the majority are enjoying business impacts from their use of ABM. For example, 9 in 10 report active engagement with selected accounts and 84% are experiencing pipeline growth. More than three-quarters (77%) attribute revenue growth to their use of ABM, in keeping with past research in which the vast majority of B2B marketers said that ABM had a positive impact on revenue growth.
Considering that proving ROI is a top ABM challenge, it’s encouraging to see 72% saying that ABM delivers higher ROI than other types of marketing. Additionally, roughly two-thirds indicate that ABM is significantly improving marketing and sales alignment. Though not quite with as much gusto, marketers surveyed for a separate recent survey also credited ABM with improved marketing and sales alignment.
As it turns out, respondents to this latest survey believe that sales and marketing collaboration and integration is one of the competencies in which ABM marketers are most proficient. On a 5-point scale (where 5 = “have mastered this skill area”), respondents gave their teams an average rating of 3.7 for sales and marketing collaboration proficiency. That was the second-highest average rating of the various competencies measured, slightly trailing only campaign planning and execution (3.8).
On other end of the spectrum, ABM leaders gave only generally middling marks to ABM teams for proficiency in data analytics for ABM (3.1), tailored value propositions (3.3) and marketing technology for ABM accounts and programs (3.3).
Other Survey Highlights:
- 8 in 10 respondents indicated that their ABM program has an executive sponsor.
- About 7 in 10 will increase their ABM spending this year.
- Almost half use either two (29%) or three (18%) types of ABM, whether one-to-one, one-to-few, or one-to-many.
- The top business objectives for ABM are selling to new accounts and growing business with existing accounts, with fewer interested in using ABM to enter new markets/sell to new types of buyers.
- The leading ABM challenges cited are tracking and measuring ABM results and developing campaign assets that are mass customizable to allow scale.
- The top technologies that respondents are planning to add to their ABM tech stack in the next 12-18 months are CRM, social, and chat.
For more, download the study here.