Account-based marketing (ABM) is the strategic approach marketers use to support a defined universe of accounts, including strategic accounts and named accounts. It also includes support for the post-sale customer lifecycle using marketing’s toolkit to contribute to the overall customer experience. ABM provides guidance on how to deliver the insights, goal setting, strategy and planning, integrated marketing execution, and sales alignment required to support growth, retention, and loyalty objectives. It also provides guidance on how to measure marketing’s impact beyond demand creation within defined groups of prospect and customer accounts. ABM helps to evolve the role of marketing to reflect a stronger alignment with sales objectives and customer needs to deliver better execution and revenue outcomes.
Expanding marketing technology resources may be key.
Business-to-business (B2B) marketers worldwide who have account-based marketing in place are looking for ways to scale their programs and extend their efficiency. According to research, more than three-quarters are developing resources to further continued usability and best practice sharing.
The Information Technology Services Marketing Association (ITSMA) released results from its March 2016 survey, which polled B2B marketers globally on what approaches they’re using to scale their account-based marketing programs. Of those surveyed, 77% said they were developing tools and templates to expedite repeat use and best practice sharing.
69% said they were adding technology to automate and create more leverage. While marketing technology is top of mind these days for all marketers, B2Bs don’t reportedly have all the resources they need, but are trying to make the best of them. According to a separate survey released in August 2015 from Ascend2, more than two-thirds of B2B marketing professionals worldwide said they didn’t have the marketing technology tools they needed.
Last year, a study from SiriusDecisions uncovered that 92% of B2B marketers worldwide said ABM was “extremely” or “very” important to their overall marketing efforts. So there’s no question that this approach to marketing has become a key area for B2Bs, and now it’s become crucial for these marketers to evaluate the approach.