The Marketing Strategist:
Research Highlight: Marketers Step Up Spending on ABM
Spending on Account Based Marketing (ABM) is up. It’s getting an average of 15% of the total marketing budget, according to the ITSMA ABM survey conducted in October, and 96% of marketers said that it has grown in importance at their organizations in the past two years, with 72% planning to increase ABM spending next year. B2B marketers are spending more on ABM because it works. Its biggest successes are in pipeline and revenue growth. The way it works is by educating and building stronger relationships with the largest, most important customers. ABM helps promote a broader awareness of the full breadth and depth of offerings, strategy, and solutions. So is a highly customized, high-touch, thought-leadership-based program actually worth the time and resources? The answer is yes: when compared to the ROI of other marketing initiatives, 84% of respondents said that ABM ROI was somewhat or significantly higher. This is particularly true for companies that get a disproportionate share of revenue from a handful of select accounts. Unlike with some other marketing initiatives, getting buy-in from sales for ABM programs tends not to be a problem. Sales values ABM programs because they lead to new opportunities and deeper penetration (wallet share, revenue, and margin) within existing accounts. While ABM may have been considered a “nice to have” program in the past, trending data suggests that ABM will become an indispensable part of the marketing mix in the years to come. For more information on a roadmap to full ABM adoption, see: https://www.itsma.com/research/four-stages-to-full-abm-adoption/ Learn more about ITSMA’s ABM Certification Program.