20 Key Insights for Success in Account-Based Marketing
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The last few years have seen a dramatic increase in the awareness of Account-Based Marketing as marketers strive to increase the performance of their programs. We recently teamed up with DemandMetric to conduct a research study on Account-Based Marketing adoption and usage among B2B marketing companies. This 45-minute webinar will showcase more than 20 key findings on the latest trends in adoption, readiness, and business impact of ABM. You’ll also walk away with steps you need to take to successfully execute an ABM strategy.
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20 Key Insights for Success in Account-Based Marketing
- 1. Key Benchmarks to Account-Based Marketing Success Jerry Rackley Chief Analyst, Demand Metric @Jrackman Phil Hollrah VP of Product Marketing, Demandbase @Philhollrah
- 3. About the Study Survey fielded from June 15 – July 7, 2015
- 4. About the Study Survey fielded from June 15 – July 7, 2015 352 responses; 236 used in the analysis
- 5. About the Study Survey fielded from June 15 – July 7, 2015 352 responses; 236 used in the analysis 78% B2B respondents; 22% mixed B2B/B2C
- 6. B2C and B2B are different TARGET DECISION MAKER SALES BUYING CYCLE BUYING DECISION QUALIFICATIONS COST OF SALE Target accounts Buying Groups Low transaction volume Typically high value Long Months Rational Company attributes High Masses Individual High transaction volume Typically low value Short Impulse - days Emotional Taste, Behavior, Lifestyle Low Target Decision Maker Sales Buying Cycle Buying Decision Qualifications Cost of Sale B2C B2B
- 7. What is Account-Based Marketing?
- 8. ABM in 3 Steps
- 9. ABM in 3 Steps Identify the right accounts
- 10. ABM in 3 Steps Identify the right accounts Market to those accounts
- 11. ABM in 3 Steps Identify the right accounts Market to those accounts Measure by accounts
- 12. Current ABM Adoption Status 29% 26% 21% 24% Not in use Adoption interest Testing ABM Using ABM
- 13. Projected Future ABM Usage 0% 17% 83% 3% 25% 72% Decrease Steady Increase ABM testers ABM users
- 14. ABM Impact on Marketing’s Success 4% 0% 21% 32% 43% I don't know No impact Slight impact Median impact Significant impact
- 15. Revenue Increase from ABM* 40% 0% 23% 18% 5% 9% 5% No impact 1 to 9% 10 to 19% 20 to 29% 30 to 39% 40 to 49% 50% or more * ABM in use for 1 year or more
- 16. Key Benefits of ABM 33% 47% 43% 40% 53% 50% 50% 67% 70% 73% 28% 38% 55% 55% 55% 55% 59% 66% 69% 83% Shorter sales cycle Increased page views Increased lift in target accounts visiting… More personalized content experience Increased conversion rates More pipeline opportunities Greater understanding of program… Better qualified prospects Better sales/marketing alignment Increased engagement w/target accounts ABM users ABM testers
- 17. ABM Adoption by Company Size 12% 22% 41% 23% 19% 13% 33% 33% 23% 32% 26% 23% $24 million or less $25 to $499 million $500 million+ Using Testing Interest Not using
- 18. Length of ABM Usage 65% 42% 41% 23% 48% 42% 12% 10% 17% Small ($24 million or less) Medium ($25 to $499 million) Large ($500 million+) Less than 1 year 1 to 4 years 5 or more years
- 19. Skills/Expertise by ABM Usage 29% 16% 7% 4% 36% 24% 34% 9% 35% 60% 59% 87% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Not using Interested Testing Using Don't know expertise requirement Don't have expertise Have some/all expertise
- 20. Technology Readiness for ABM 35% 16% 24% 25% 10% 5% 27% 58% Don't know what is needed Don't have it, not investing Don't have it, but investing Have the needed technology Using ABM Not using ABM
- 21. Marketing Approaches with ABM 5% 11% 39% 54% 49% 55% 43% 71% 2% 32% 53% 62% 64% 64% 66% 92% Other approaches Territory planning Micro-campaigns List building Funnel/pipeline review Event planning Sales enablement Regular meeting Using ABM Not using ABM
- 22. What to Think About Next
- 23. What to Think About Next Evaluate your current situation
- 24. What to Think About Next Evaluate your current situation Start small, test and learn
- 25. What to Think About Next Evaluate your current situation Start small, test and learn Measure your results
- 26. What to Think About Next Evaluate your current situation Start small, test and learn Measure your results Download additional resources “Account-Based Marketing Adoption” research study “Account-Based Marketing: Fundamentals Every B2B Marketer Must Know” eBook
- 27. THANK YOU
Editor's Notes
- PHIL Address rise/momentum of ABM. Seeing companies adopting it. Investing in people and technology. More companies creating tech specifically for ABM Wanted to conduct a research study to see the scale of adoption, usage, investment and results Details of survey
- PHIL Address rise/momentum of ABM. Seeing companies adopting it. Investing in people and technology. More companies creating tech specifically for ABM Wanted to conduct a research study to see the scale of adoption, usage, investment and results Details of survey
- PHIL Address rise/momentum of ABM. Seeing companies adopting it. Investing in people and technology. More companies creating tech specifically for ABM Wanted to conduct a research study to see the scale of adoption, usage, investment and results Details of survey
- PHIL Address rise/momentum of ABM. Seeing companies adopting it. Investing in people and technology. More companies creating tech specifically for ABM Wanted to conduct a research study to see the scale of adoption, usage, investment and results Details of survey
- PHIL Before we get into the study results, I wanted to level set and talk about ABM for a few minutes. Let’s start with why ABM is so important for B2B marketers. Explain differences
- PHIL Some of you today are probably new to ABM. Others are veterans of ABM. Regardless of your knowledge of ABM, it has generated a lot of buzz and conversation recently. And there are a lot of definitions out there. They way Demandbase defines ABM is: Account-Based Marketing is a set of products and services that enable B2B marketers to identify and target the accounts they value most. ABM solutions typically include account-based data and technology to help companies attract, engage, convert and then measure progress against customers and prospects. Ok – so that’s our definition. But you want to know how to do it.
- PHIL At it’s most basic foundation, it’s pretty simple. Walk through 3 steps
- PHIL At it’s most basic foundation, it’s pretty simple. Walk through 3 steps
- PHIL At it’s most basic foundation, it’s pretty simple. Walk through 3 steps
- PHIL At it’s most basic foundation, it’s pretty simple. Walk through 3 steps
- Almost three-fourths of B2B organizations studied are on board with an ABM approach. Considering the shape of the typical technology adoption curve, ABM seems positioned at the onset of the “early majority” stage of adoption. PHIL Will talk about how these results align with the momentum we are seeing in the market around ABM.
- The study survey asked ABM users and testers to indicate how their usage of and investment in ABM will change over the next 12 months: will it increase, decrease or stay the same? None who are testing ABM have any plans to decrease their usage in the next 12 months, a great indicator that their testing is producing results. Those already using ABM are also poised to increase their usage. This commitment to increased usage is a good sign that ABM is living up to or exceeding expectations. This data suggests that users of ABM have clearly not yet reached the limits of is potential. PHIL Will discuss how this shows that ABM is having an impact. When things are working and we’re getting results, marketers will invest more. I think the results we’ll share on the next 2 slides will also validate the increased usage.
- There’s very little uncertainty about how ABM is helping marketing succeed in the organizations that are using it. Just 4 percent are uncertain about the impact, and none who took the study’s survey reported that ABM had no impact on marketing’s success. The other 96% are reporting that ABM has a moderate to significant impact on the success marketing is having. This data leaves no room for doubt that ABM is a lever for marketing’s success in B2B organizations. PHIL 96% is a big number that you don’t normally see in these types of surveys. Companies that are using ABM are seeing results from it. And it makes sense – marketing to the accounts that have the highest value to you moves the needle in B2B. Your focused on what can have the biggest impact on your business – with prospects, customers and prospects.
- The story that this chart tells is compelling. When ABM has been in use for at least a year, 60 percent of users report a revenue increase of at least 10 percent, and 19 percent report a revenue impact of 30 percent or greater! The question that we all should have about this data is: what about the remaining 40 percent who report no impact? Why isn’t everyone getting a revenue lift from ABM? When I did further analysis of this data, I think I found the reason why. This 40 percent who report “No impact” have an alignment problem: none in this group report having complete sales and marketing alignment, and over one-third report alignment as just “slight” or “somewhat”. The irony with this is that our study shows that ABM helps improve alignment. My theory is that this 40% is so out of alignment that they have bigger problems that are keeping them from exploiting ABM.
- This chart is a little busy, but worth studying to understand the benefits reported by users and testers of ABM. The testers, who are very early in their usage of ABM, are not expected to report getting benefits at the same rate as users. But as you look closely at this data, there are three areas where the benefit levels are essentially identical: better alignment, better qualified prospects and increased conversion rates. Here’s what this means: in these three areas, the benefits of ABM are nearly immediate. There is no long maturation or period of waiting for these benefits to accrue; they are realized almost from the onset of ABM usage. This essentially amounts to almost instant gratification, and it makes the business case for ABM even more compelling. PHIL Again, this shows the results you can generate from ABM around key activities that we focus on as Marketers. You would expect to have better engagement with targeted accounts but the areas that also jump out to me as a marketer are Better alignment with sales (HUGE) Better qualified prospects (not just trying to fill the top of the funnel with whatever I can get) More pipeline opps Program performance – because I can tie my programs directly to revenue
- Large companies – with revenues of $500 million or more – have the greatest adoption rate of ABM. The “knee” of the adoption curve relative to company size is currently positioned at about the $25 million in annual revenue mark. From this revenue threshold and above, almost half of companies in this study are using or testing ABM. This does not imply that ABM is not applicable to small companies, as 35 percent of companies with $24 million or less in annual revenue are using or testing ABM. In fact, these small companies are more likely to be testing ABM than their medium or large company counterparts. PHIL I think what is most important to note is that you don’t have to be a Fortune 500 company to employ ABM. At DB, we are in this middle band and everything we do is centered around ABM. I think it starts with testing as these companies are doing and then investing more after you are seeing results.
- One of the reasons that large companies have a lead on ABM adoption is because they’ve been at it longer. In our study, the small companies, represented by the left-most set of bars in this chart, were relative newcomers to the ABM scene. Almost two-thirds of the small companies – those with annual revenues of $24 million or less – have used ABM for a year or less. Companies that are at the highest level of maturity – 5 years or more of reported usage – do not differ significantly based on company size, indicating that the ranks of early ABM adopters are formed by companies of all sizes. So while size is an indicator of how likely and how long a company has used ABM, it is not a prerequisite to usage: companies of all sizes are getting benefits from ABM. PHIL This data really speaks to momentum of ABM. Over the last few years with additional technologies and early adopters showing results, ABM has really taken off and more and more companies are adopting it.
- We wanted to find out how skills-intensive ABM is. We expected that users of ABM would possess the greatest expertise, and of course that expertise is built through using ABM. What is encouraging in these study results for organizations that want to stick their toe into the ABM pool, is that they currently have the expertise they need to do so. 60% of those in our study who were interested in using ABM already have the necessary skills in place! In other words, no discernable expertise barrier exists between those interested in using ABM and those already testing it. PHIL When I talk to companies interested in ABM, one of the first questions I usually get is what types of people, skill sets and technology do I need? You probably already have the right people and skill sets – it’s more around the focus of those individuals. It’s changing your attention to focus on accounts rather than individuals. How do you create programs for your target accounts? How are those programs performing against those accounts? Do I have a leak in my funnel? A,E,C – where to focus. So your teams are already doing a lot of this, now it ocmes down to doing it with a lens focused around accounts.
- Compared to the skills data we just looked at, technology readiness is a bigger issue for ABM adoption than is expertise. However, the data in this chart makes a subtle but important point about ABM: successfully executing it isn’t totally dependent on technology. While the technology is important for creating efficiencies and enabling ABM to scale, ABM is more than just a technology solution to install and use. ABM is an approach, one with both process and technology components. Successful adoption of ABM requires committing to the process, gaining expertise with it and bringing in the technology components and solutions to facilitate and scale the process as it becomes more strategic. PHIL Going back to the question I usually get about getting started with ABM. From a technology perspective you probably already have most of what you need. Analytics, CMS, MAS, CRM. The question is how do you use it to focus on accounts? Most technology was built for B2C companies with individuals in mind. You do need the ability for your tech stack to focus on accounts.
- The major differences in the approach usage data shown here comes in three areas: sales enablement, territory planning, and regular meetings. For each of these approaches, ABM users show a usage level more than 20 percent higher than for non-ABM users. Adopting ABM is, in most cases, the driver for these beneficial increases, and the impact on alignment is strong: 70 percent of ABM users in this study report that their sales and marketing organizations are mostly or completely aligned, compared to 51 percent for non-ABM users.
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