We’ve written about ABM and its uses before where we presented that it is a much more focused marketing tool that traditional methods. The usual metaphor is that traditional marketing is like hunting with a net, while ABM is hunting with a spear. So just how big is ABM going to get and how exactly are marketers currently using it? Let’s take a look at a few key charts courtesy of e-marketing.com.
Even though the concept of ABM has actually been around for more than a decade. It is only due to recent technological changes that ABM has really become viable for companies of all sizes.
Thanks to sophisticated marketing platforms, business intelligence technology, and advanced targeting features, it’s easier than ever for B2B companies to find their ideal clients, apply what they find to the sales process, and focus their efforts on specific accounts. Let’s take a look at the numbers:
Only 20 percent of B2B marketers are not implementing ABM in some fashion—and that number will decrease as the technology improves and becomes more prevalent.
Not surprisingly, sales and marketing automation tools are the most used software when it comes to ABM. Other products like Salesforce perform the critical task of managing targeted sales prospects. There is also a new breed of tools that generally integrate into one of the larger tech clouds and provide in-depth information on targeted accounts and industries.
This could change as technology improves, but for now, most ABM still casts a relatively wider net. This makes sense as focused content requires a lot of time to create and if there are too many accounts or too few marketers it won’t be feasible. The other risk is that such narrow efforts could potentially waste a lot of money if the account doesn’t convert.
Email’s dominance should be expected. For one, it’s free to send an email with account-based content to a prospect. Email has proven itself to be one of—if not the most—effective channels for B2B marketers thanks to its personal nature. It’s also very easy to use.
While email will likely remain a key ABM channel, many other channels are quickly catching up. Targeted content posts on Koble is one of these.
Like most things in marketing, ABM won’t solve all of your problems. According to results in the chart above, most practitioners believe their ABM efforts are only moderately effective. More marketers believe their ABM is entirely ineffective (6.7 percent) than extremely effective (5.7 percent).
Considering that “extremely effective” marketing tactics are few and far between, these aren’t exactly the worst numbers for ABM. It does suggest, however, that there is definitely room for improvement. One of the reasons marketers may be unsure of ABM’s effectiveness comes back to an age-old problem: measuring ROI:
Amazingly, half of the marketers surveyed did not measure how implementing ABM affected their ROI. In other words, instead of doing their jobs, many marketers are just guessing that ABM is having a positive effect. At least 22 percent admitted they simply don’t know.
For ABM to succeed, marketers have to carefully track if it’s actually working. On Koble for example, you can see the open rates by your target, the read time and any actions that they take with your content. You’ll then be able to follow up and convert them into customers.