A survey of over 100 companies by Avention, the maker of OneSource® Solutions, has shown that account-based marketing (ABM) techniques are the preferred approach for corporates focused on B2B sales and marketing.
86% of the organisations polled are confident that employing account based marketing techniques will positively impact their growth in 2016 and 2017.
90% of respondents said that ABM, which uses data and analytics to focus marketing efforts on a specified group of target accounts, is relevant to their organisation.
These findings are supported by other industry research, with MarketingProfs reporting that companies using ABM generate 208% more revenue for their marketing efforts.
The benefits of ABM are widely recognised by the marketing profession; of the organisations polled by Avention, 38% are currently using an ABM programme, and a further 36% are either piloting a programme or planning to within the next 6-12 months.
However, the first step to an effective ABM programme is having a good grip on your data - in terms of accuracy, depth, relevance and usability – yet less than 25% of respondents identified themselves as leaders in using data as a strategic asset. 75% of organisations still can’t find the right contacts at companies which match their target profile, and more than 50% have limited or no ability to gather real-time intelligence on target accounts.
Commenting on the research, Paul Charmatz, Senior Vice President International, said: “The market for account-based marketing is growing rapidly, but the biggest challenge to starting a successful ABM programme is a lack of relevant data and the ability to leverage data. Avention’s survey showed that three-quarters of marketers struggle to even find contacts at companies matching target profiles. We firmly believe that the launch of Avention’s OneSource ABM solution will help corporates mitigate many of the problems the industry has experienced to date. OneSource ABM solution provides a comprehensive platform for any effective ABM strategy, and we’re very pleased with the response we’ve received so far.”
Avention’s six steps for launching a successful ABM programme:
1) Know Your Market:
Firstly, you need to combine your customer data with trusted market data. Then, segment along multiple dimensions in order to build the ideal profile
2) Identify & Validate Targets
You then need to select target accounts for both account management and business development teams, before mapping your contact coverage in these target accounts
3) Populate Account Map with Insights and Contacts
Once you have identified relevant data & contacts, make sure you map influencers and decision makers. You can then connect account insights to sales & marketing strategy
4) Create Account-Specific Messages, Offers, Content
Using the insights gathered above, you can generate or modify messages and content that is personalised for target accounts and contacts
5) Execute Programme
You can now start to create engagement plans, from personalised marketing campaigns to sales direct touch
6) Measure, Refine Strategy, Expand
Finally, track the results and refine as needed, considering any account or market changes