Search for the term “account-based marketing” in Google Trends, and you will see that in the past few years, it went from non-existent to very popular.
The Not Another State of Marketing Report from HubSpot shows that 70% of marketers now have an active account-based marketing program in place. This is largely due to the economic downturn we currently find ourselves in. B2B marketers don’t have time or budget to waste because, let's face it— if you don’t find your customers first, your competitors will. Marketing teams are turning to ABM now more than ever to up-level their strategies and of course, to get quality leads.
But just like with other marketing concepts, there’s a lot of hype around ABM that makes people doubt its effectiveness, especially since they can’t implement it overnight. Instead, its stellar results and benefits accrue over time, so patience is vital (but worthwhile!).
So what can account-based marketing do for your company when you stick to it? To help you discover the answer, we’ve gathered 17 ABM statistics that will show you why you need to integrate ABM into your 2023 B2B marketing strategies.
ABM and ROI
1. Outperform your other marketing channels
According to new research conducted by the ABM Leadership Alliance and ITSMA, 76% of marketers saw higher ROI with ABM than any other marketing strategy. So, as its results build over time, marketers agree that ABM’s many benefits are worth the wait, including improved team collaboration, processes and tools, and overall workplace efficiency.
The more B2B leads you attract, the larger the ROI, right? Wrong. Bringing in more leads isn’t always beneficial, but bringing in quality leads is.
And it's in bringing in quality leads that account-based marketing really stands out: 73% of marketers said they saw an increase in average deal size specifically in ABM accounts when they focused on quality of leads over quantity. The data never lies, it only builds a common GTM language.
ABM and Revenue
3. Generate more revenue
Account-based marketing strategies provide significant benefits for both maintaining current client relationships and developing new ones. Payscale's digital marketing turned to ABM to accelerate their current marketing efforts and overall growth. Within seven months they saw a 500% increase in target account traffic AND an ROI increase of 6x in revenue. Talk about an impact!
4. See Long term returns
Account-based marketing is a long-term investment: Demand Metric found companies that have used ABM for at least one year have seen a 10% increase in revenue while 19% reported more than 30% revenue growth.
ABM and Leads
5. Make your leads more likely to convert
One of the main goals of ABM is to deliver tailored content to the right stakeholders so they can continue to move further into the sales funnel. Using the right B2B lead generation software with your ABM campaign can help you make sure your content connects with your leads.
71% of customers expect companies to deliver personalized and tailored interactions. This approach puts you in a better position to capture the attention of your buyers, capitalize on commonalities, and increase the likelihood of conversion.
6. Increase your lead’s engagement
To close a five or six-figure deal, salespeople take a long time meeting, discussing, and negotiating with prospects. Engagement, in other words, is what makes the difference between sales that go through and those that don’t.
It’s here where ABM shines. In one study, 75% of B2B marketers said using ABM allowed them to find and engage with the right buyers earlier in their buying process.
7. Improve your reputation and relationships
Companies that use ABM have reported an 84% improvement in reputation and 80% improvement in customer relationships, due to implementing such things like client service management, automated list generations, or customer notifications.
These stats prove how vital it is to build trust with leads and customers through openly sharing updates and information about products and services. This openness with target accounts leads to strong, trusting relationships that last.
8. Increase the engagement with C-level executives
Probably one of the most important ABM stats in this list is how ABM helps you reach C-level executives. SiriusDecisions found 30% of marketers that worked in an account-based manner reported greater than 100% engagement increase with their C-level targets.
9. ABM increases average deal size
Forrester and RollWorks data found 58% of B2B marketers experienced larger deal sizes with ABM. And 56% expect tighter alignment between marketing and sales activity.
Marketing and Sales Alignment
10. Get more leads and opps
Thanks to closer work between sales and marketing, 61% of companies have reported that the key benefit of ABM is an increase in pipeline opportunities, quality, or both.
11. Increase your retention and sales win rates
By aligning sales and marketing teams through ABM, companies experience stronger, more qualified leads and client engagement. “ABM is about the overlap, not the handoff. Think about it this way: A successful ABM approach enables your marketing team to provide air cover and targeted programs as you, the sales team, are going outbound to target accounts.” Danilo Nikolich, Sr. Director of SDRs at RollWorks
12. Save your marketing and sales team’s time
While most sales teams tend to spend hours analyzing the prospects sent by their marketing teams, ABM helps reduce up to 50% of sales time wasted on unproductive prospecting, which historically has caused sales to ignore 50% of marketing leads.
13. Close more deals
A joint Marketo and Reachforce study found companies that use ABM become 67% better at closing deals when they sync their sales and marketing teams, thanks to implementing account-based marketing strategies like lead scoring and other marketing methodologies.
14. Grow faster
A study done by SiriusDecisions found B2B organizations with tightly aligned sales and marketing operations grew their revenues 24% faster in a three-year period compared to those whose teams work separately. What’s more, these same companies increased their profits 27% faster during the same three-year period.
ABM in Context
15. Provide the right content at the right time
According to a 2021 study by Demand Gen Report, 80% of marketers said that high-quality and easy-to-consume vendor content affects their purchasing decisions.
16. It takes time to see the results
Because all good things come to those who wait, there is often a range from when companies implement a full ABM program to when they see results. For example, it only took financial database Pitchbook three months to see a return on engagement, including a substantial increase in website visits. Yet it took 10 months for warehouse management software SnapFulfil to see similar engagement results and lead conversions.
17. Budget allocation for ABM is on the rise
With the increase of positive account-based marketing stats and case studies, organizations are quickly starting to dedicate greater percentages of their marketing dollars toward new marketing technology.
According to the Marketing Technology Implementation Survey from RollWorks, budgets strictly dedicated to new technology marketing increased moderately by 59% and significantly by 20%. This trend of using better technology reflects both the optimism and legitimacy of what ABM is doing for companies’ ROI.
GET STARTED WITH ABM
Reading through the account-based marketing statistics above, there’s no doubt ABM represents a new opportunity for both marketing and sales teams to dramatically improve their numbers, especially compared to traditional demand generation.