ACCOUNT-BASED MARKETING APPROACH - Ascend2
ACCOUNT-BASED MARKETING APPROACH STRATEGIES, TACTICS & TRENDS Research Series Conducted in Partnership with Leading Providers of Marketing Technology and Digital Marketing Agency Services.
2 Table of Contents 4. Account-Based Marketing Approach 5. Current ABM Status 6. Ranking Strategic Success 7. Challenges to Success 8. Budget Allocation Details 9. Most Vital Account Data 10. Resource Allocation Details 11. Most Effective Channels 12. Key Metrics to Measure Success 13. Ascend2 Research Partner Programs Account-Based Marketing Approach Survey Conducted by Ascend2 and Research Partners Published July, 2020
3 Methodology Ascend2 benchmarks the performance of marketing strategies, tactics and the technology that drives them with a standardized online questionnaire and a proprietary 3-Minute Survey format. This survey was fielded to a panel of marketing professionals and marketing research subscribers. Survey Respondents Primary Marketing Channel B2B 40% B2C 31% B2B and B2C equally 29% Number of Employees More than 500 24% 50 to 500 25% Fewer than 50 51% Primary role in company Owner / Partner / C-Level 47% Vice President / Director / Manager 32% Non-Management Professional 21%
4 Account-Based Marketing Approach Account-based marketing (ABM) continues to gain traction as an initiative that can capitalize on high-value accounts, shorten the sales cycle, and align efforts of sales and marketing teams. But how are marketers gaining a competitive advantage with their ABM strategy? To help you answer this question, Ascend2 and our Research Partners fielded the AccountBased Marketing Approach Survey. We thank the 261 marketers who responded to this survey during the week of July 6, 2020. This Survey Summary Report, titled AccountBased Marketing Approach, represents the opinions of all the market segments responding to the survey. Specific market segments from the survey are reported on separately and exclusively by our participating Research Partners. This research has been produced for your use. Put it to work in your own marketing strategy. Clip the charts and write about them in your blog or post them on social media. Please share this research credited as published. e! Click her SUBSCRIBE TO OUR RESEARCH
5 Current ABM Status Bringing a fully functional ABM program to fruition requires a significant amount of expertise, time and resources. About one-third (34%) of marketers are in the planning stages for implementing an ABM strategy in the future. Only 14% of marketers are currently in the process of rolling out an ABM pilot program while another 22% report having a measurable strategy in place. What is the CURRENT STATUS of an ABM strategy? 34% 30% 22% 14% ABM strategy is in place and measurable Rolling out an ABM pilot program Planning for ABM in the future Not planning for ABM in the future Account-Based Marketing Approach Survey Conducted by Ascend2 and Research Partners Published July, 2020
6 Ranking Strategic Success About two-thirds (65%) of marketing professionals would describe their account-based marekting strategy somewhat successful at achieving the primary objectives set for it. Marketers representing companies with strategies sophisticated enough to be considered "best-in-class" represent about one-quarter (22%) of those surveyed. Which best describes the SUCCESS of an ABM strategy at achieving primary objectives? Unsuccessful 13% Very successful (best-in-class) 22% Somewhat successful 65% Account-Based Marketing Approach Survey Conducted by Ascend2 and Research Partners Published July, 2020
7 Greatest Challenges to Success 37% of marketers find it challenging to get adequate budget and resources dedicated to accountbased initiatives. Marketing and sales alignment is also a top challenge for 32% of marketers who recognize that the two working in harmony is essential to the success of an ABM program. Data quality issues also present an obstacle for 29% of marketers to overcome. What are the GREATEST CHALLENGES to the success of an ABM strategy? Lack of budget/resources 37% Marketing and sales alignment 32% Lack of quality data 29% Lack of technology 25% Lack of a unified strategy 24% Marketing attribution 23% Inability to measure or prove ROI 23% Lack of quality content 19% Lack of commitment by management 17% Account-Based Marketing Approach Survey Conducted by Ascend2 and Research Partners Published July, 2020
8 Budget Allocation Details The majority of marketers (62%) report that less than 25% of the marketing budget is currently being dedicated to account-based efforts. Only 13% of those surveyed are operating with budgets that represent greater than 50% of the overall marketing budget. These findings align with a lack of budget being listed as a top challenge to the success of an ABM strategy. What percent of the marketing BUDGET is being allocated toward ABM efforts? 62% 25% 10% 3% less than 25% of the marketing budget 25% - 49% of the marketing budget 50% - 74% of the marketing budget Account-Based Marketing Approach Survey Conducted by Ascend2 and Research Partners Published July, 2020 More than 75% of the marketing budget
9 Most Vital Account Data ABM relies heavily on using data to personalize the experience for contacts from targeted, highvalue accounts. But which data is most important to keep track of? Lifetime customer value and an account's financial information are the two most important pieces of data to collect and track for ABM according to 41% of marketers. What is the most VITAL DATA to acquire and track on an account? Lifetime customer value 41% Financial information 41% Engagement history 40% Current or planned projects/initiatives 38% Decision-maker profiles 35% Strategic partnerships 27% Technology stack architecture 12% Account-Based Marketing Approach Survey Conducted by Ascend2 and Research Partners Published July, 2020
10 Resource Allocation Details Over half (54%) of marketers are focusing a majority of their ABM efforts on finding and attracting new contacts. The other 46% of those surveyed are investing most of their resources in existing accounts and contacts with 27% working to engage and convert existing contacts and 19% focused on nurturing and cross-marketing to existing accounts. Where are you investing the most RESOURCES for ABM differentiation? Nurturing & cross-marketing to existing accounts 19% Finding & attracting new contacts 54% Engaging & converting existing contacts 27% Account-Based Marketing Approach Survey Conducted by Ascend2 and Research Partners Published July, 2020
11 Most Effective Channels As account-based marketing becomes a more widely-adopted approach, it is important for marketers to differentiate themselves with their efforts. Half (50%) of marketing professionals surveyed report that social media is the most effective channel to do so, followed by email campaigns (45%) and the use of content or resources (42%). What are the most effective CHANNELS for gaining a competitive advantage with ABM? Social media 50% Email 45% Content/resources 42% Website Personalization 33% Paid Advertising 33% Webinar/virtual events 29% Print/direct mail 13% Account-Based Marketing Approach Survey Conducted by Ascend2 and Research Partners Published July, 2020
12 Key Metrics to Measure Success Measuring return-on-investment for account-based marketing is essential to strategic success. Metrics based on the account level, such as target account revenue generated and target account engagement are reportedly the most helpful in measuring the success of an ABM program according to 44% and 42% of marketers, respectively. What are the KEY METRICS to measure the success of an ABM program? Target account revenue generated 44% Target account engagement 42% Marketing Qualified Leads (MQLs) 31% Win rate 28% Average contract value 27% Penetration within target accounts 26% Target account pipeline 23% Meetings set 19% Pipeline created 15% Account-Based Marketing Approach Survey Conducted by Ascend2 and Research Partners Published July, 2020
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budgets that represent greater than 50% of the overall marketing budget. These findings align with a lack of budget being listed as a top challenge to the success of an ABM strategy. 62% 25% 10% 3% less than 25% of the marketing budget 25% - 49% of the marketing budget 50% - 74% of the marketing budget More than 75% of the marketing budget
About Ascend2 Research-Based Marketing 15. Ascend2 Research Partner Programs Methodology Ascend2 benchmarks the performance of marketing strategies, tactics and the technology that drives them with a standardized online questionnaire and a proprietary 3-Minute Survey format. This survey was fielded to a verified list of marketing research .
A total of 95% of marketing influencers say an account-based marketing strategy is successful at achieving the top priorities, with 40% describing their ABM strategy success as best-in-class. Account-Based Marketing Strategy Survey by Ascend2 and our Research Partners, January 2018 5
Email marketing strategies are considered successful to some extent by 83% of marketing influencers. Actually, more than one-third (36%) describe their email marketing strategy as "best-in-class" when compared to competitors. RATING EMAIL MARKETING SUCCESS Email Marketing Strategy Survey, Ascend2 and Research Partners, September 2016 5
2017 Digital Marketing Plans Survey, Act-On and Ascend2, Published January 2017 5 Digital Marketing Mistakes and How to Fix Them In this eBook, we explore the five most common mistakes people make in digital marketing, and also explore how to fix those mistakes. In the end, you'll have a good sense of where the most common digital marketing
Sounds simple, but what will an effective digital marketing plan look like for business-to-business marketers in 2018? To find out, Synthio, in partnership with Ascend2, fielded the 2018 Digital Marketing Plans Survey. This report, titled the '2018 B2B Digital Marketing Plans', exclusively represents the opinions of 107 companies dedicated
The State of Performance Marketing Survey Conducted by Ascend2 and Research Partners Published October, 2020 Most Effective Channels Social media channels are reportedly most effective for executing performance-based programs according to over two-thirds (69%) of marketers surveyed. Search engine marketing
When implementing an Account-Based Marketing (ABM) strategy, marketers are primarily aiming to increase existing account revenue and increase accounts and contacts according to 56% and 53% of those surveyed, respectively. Just under half (47%) say that improving marketing and sales alignment is also an important objective to achieve. 17% 19% 27 .
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