Account-based Marketing can significantly expand revenue from your customer base. But ABM is advanced marketing. It’s not simple, fast or easy to measure. It can’t be done by one person “on the side” with no resources. It must be sponsored top-down and be given equal weight with traditional marketing and sales methods. Leadership in Marketing, Business Development, Sales and Customer Service must commit to a dual system in which Demand Generation attracts net-new customers and ABM expands customer engagements. ABM requires levels of silo-bridging cooperation that most enterprises that have grown through acquisition struggle to achieve. The technology is not cheap and only part of the equation. ABM requires a 3-year crawl-walk-run roadmap and most companies don’t stick with it that long… BUT… ABM works.
ABM has huge upside potential. Consider these facts:
- Those who approach ABM with discipline and stick with it can see a lift in average contract value of 171% (TOPO).
- More than 57% of ABM adopters see significant increases in per-account pipeline and 59% see significant increases in per-account revenue. 69% see significant increases in cross and upsell (Forrester).
- 87% of marketers say ABM outperforms all other marketing investments in terms of ROI (ITSMA).
- 86% of surveyed companies reported higher close rates with using Account-Based Marketing and increased lifetime customer value (Topo, via 6Sense).
- Budget allocation to ABM has increased 40% YoY (Demandbase and Terminus).
Think your company is tough enough for Account-based Marketing? Shoot me a message on LinkedIn and I’ll share the ABM readiness survey I use to assess major enterprises.