Account-Based Marketing Finds Its Place in B2B

B2B manufacturers and suppliers are beginning to recognize the perks of account-based marketing (ABM), and while adoption is slow, new research suggests it may be picking up speed.

According to a recent analysis by SiriusDecisions, 92 percent of B2B marketers agreed that ABM is either “extremely” or “very” important for their sales efforts as a whole. The April 2015 research found that because ABM focuses on a single account at one time, the practice aligns with the rising demand for more tailored marketing approaches.

So far, reports said that nearly half of B2B sellers have implemented an ABM approach to their sales. Only one-fifth of survey respondents said that they have a full ABM program already in place and have had one for at least a year. An additional 26 percent, however, have had one in place for less than a year, and more than half (52 percent) reported that they have an ABM strategy in pilot phase.

Separate research suggests that the adoption of ABM marketing strategies is increasing. ITSMA published findings earlier this year that concluded 41 percent of B2B sellers and manufacturers plan to increase their spending on ABM development; only 8 percent said they will reduce their ABM budgets.

But adopting an ABM strategy is just half the battle, according to SiriusDecisions. The research found a vast array of responsibilities that come with the marketing tactic, including collaboration with the sales team to define goals. Luckily, 91 percent of survey respondents said they are already at least somewhat aligned with sales operations.

ABM also requires the implementation of Big Data strategies. According to SiriusDecisions, respondents said aggregating account and contact data is their second-biggest priority when it comes to account-based marketing.

Researchers found several areas in which ABM sellers are lacking, however. Among those areas is a lack of support from other groups in the company, especially from other marketing teams and third-party service providers. Having this support is crucial to managing the array of responsibilities that comes with an ABM strategy, researchers found.