96% of B2B marketers have a documented account-based marketing strategy in place
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Boston, MA, Oct. 27, 2022 (GLOBE NEWSWIRE) — Foundry (an IDG, Inc. company), the global leader in media, martech and data for the tech community, today released its second study Annual ABM Benchmarking and Intent 2022 that dives deep into how account-based marketing (ABM) works and how it is evolving and adopting versus traditional marketing approaches. The study also examines how intent data is used to power ABM programs, as well as the successes and challenges marketers see with intent.
ABM is a strategy where marketing and sales teams collaborate to create personalized shopping experiences for a mutually identified set of high-value accounts. It has grown in popularity over traditional marketing approaches – Foundry found that 96% of marketers have a documented ABM strategy. Additionally, research shows that 94% of them consider ABM extremely or very important to their overall marketing goals, and 84% believe their ABM efforts have been extremely or very successful. “We conducted this study in hopes of better understanding the evolution and adoption of account-based marketing, including how it compares to traditional marketing approaches in the eyes of marketers,” Stacey said. Raap, marketing and research manager at Foundry. “Additionally, we thought it would be useful and relevant to look at the uses, successes, and challenges that marketers face when it comes to intent data, given its critical role within of the ABM.”
Here is an overview of the survey results:
Why do companies use account-based marketing?
Organizations have many reasons to adopt ABM programs, as there are a variety of business objectives that drive these ABM investments. According to the study, some of the goals that should drive future ABM investments include acquiring new accounts (69%), improving win rates (63%), upselling and cross-selling to existing customers ( 61%) and pipeline acceleration (59%). %). To achieve these goals, marketers use a variety of tactics within ABM, including content marketing (63%), paid digital advertising (61%), organic social media (57%) and SEO (46%). %).
When it came to measuring the effectiveness of their ABM programs, 60% focused on deal size, while 59% looked at duration of content engagement. Other measures of success include: deal close rate (56%), pipeline influenced (51%), and pipeline speed (46%).
A whopping 87% of respondents said their investment in ATMs has increased over the past 12 months, with the majority saying their budget has increased by 26-50% (38%). This shows that companies are taking ABM more seriously and seeing it as a worthwhile investment.
“According to our research, most organizations have a documented account-based marketing strategy in place and have been running such programs for at least a year now,” Raap said. “The results revealed that ABM is set to become a mainstream marketing discipline that may even replace traditional methods in the future.”
Additionally, ABM’s focus on collaboration can help build momentum between marketing and sales teams. Foundry’s study found that 76% of marketers believe the alignment of sales and marketing at their company is strong, a figure that matches last year’s study.
Intent data is essential for ABM campaigns
The study also looked at marketers’ use of intent data, which is information collected about web content consumption that provides insights into buyer interests. The study found that 91% of marketers use intent data to identify content to deliver in ABM campaigns. Additionally, 95% of marketers use multiple intent data sources, 41% use four or more, and 90% increase their number of data sources.
One of the main appeals of intent-based marketing is its measurability, as results can be directly tied to observed behavior. Ninety-five percent of marketers reported being able to track ROI specific to their intent-based programs. Additionally, 93% said they use it across multiple channels and 92% said they were confident in the validity of their data sources.
Potential Challenges Facing ABM Marketers
While the benefits are many, there are still challenges within ABM. Eighty-one percent of marketers said quantifying ABM program results is one of their biggest challenges. Other barriers cited in the study include prioritizing accounts (46%), obtaining C-level engagement (34%), engaging target accounts (32%), acquiring contacts opt-in (31%) and creating a list of target accounts (30%). %).
When it comes to using intent data in ABM campaigns, Foundry found that marketers struggled to effectively convert data into insights (62%) and verify the validity of intent signals/ information (61%). The survey also revealed that measuring the impact of intent data (55%), creating a strategy (55%), and taking action on intent signals/insights (23%) were listed among the biggest challenges.
About 2022 Foundry ABM & Intent Benchmarking Study
Foundry’s 2022 ABM & Intent Benchmarking Study was conducted with an audience of 500 B2B technology marketers. Foundry conducted this survey to understand how account-based marketing (ABM) works, how it has evolved, and how it has been adopted compared to traditional marketing approaches. This year, the study also examines how intent data is used to power ABM programs, and the successes and challenges marketers see with intent. All respondents have marketing titles (19% C-level, 24% VP, 27% director, and 28% manager). Respondents all had marketing titles, with 60% based in North America and 20% each in the Europe/Middle East/Africa (EMEA) and Asia/Pacific (APAC) regions.
To learn more about this year’s ABM & Intent Benchmarking study, please download the white paper here. Also, please click here to learn more about Foundry’s new intent product, Foundry Intent.
About Foundry, an IDG, Inc. company
Foundry has played a key role in every major milestone, announcement and development of modern technology since 1964. Today, Foundry continues to be a leader in technology by helping companies realize their visions through a combination of media, marketing technologies and proprietary data. . Our technology platforms from Triblio, Selling Simplified, KickFire and LeadSift are powered by data from an owned and operated ecosystem of global editorial brands, awards and events, all designed and integrated to drive marketing campaigns for technology companies. Foundry is dedicated to generating and innovating with data, driving demand for technology marketers with 38 offices in markets around the world. Foundry is a wholly owned subsidiary of International Data Group, Inc. (IDG), the global leader in business intelligence and demand generation focused on the technology industry.
To learn more about Foundry, visit www.foundryco.com.
About Triblio, a foundry company
Triblio’s Account-Based Marketing (ABM) platform orchestrates marketing and sales campaigns at every stage of the buying journey. In a single platform, Triblio combines account-based advertising, web personalization, and sales enablement features to orchestrate campaigns across multiple channels. These campaign tools and analytics run on a proprietary AI-powered purchase intent engine that gauges account interest during the purchase journey. To learn more about Triblio, a foundry company, visit www.triblio.com.
Rachael Ferranti VP Corporate Marketing [email protected]
Source: Foundry (formerly IDG Communications, Inc.)