PMG360’s fourth and final article in the Account Based Marketing series reveals the undisputed benefits of a successfully run ABM campaign. In addition to elevating marketer’s efforts to shift to customer-centric agendas, Account Based Marketing campaigns are also uniting sales and marketing teams, while delivering a greater return on investment (ROI).
Stronger Focus. Stronger Businesses.
Identifying and targeting key business accounts with highly personalized campaigns through ABM has many benefits including greater ROI, reduced spend waste, aligned sales/marketing, easier tracking and deeper account relationships.
Greater ROI. As mentioned earlier, 87 percent of companies say ABM delivers higher ROI compared with other types of marketing. In terms of revenue, 69 percent of companies reported that their ABM programs have already delivered improvements, and 35 percent stated that they have seen significant improvements. As noted by ITSMA, the reasons why are manifold: ABM can help you grow and accelerate your pipeline, increase deal size and win rate, sell new offerings, and enter new markets.
Reduces waste. Rather than spinning your wheels on low conversion rates from a broad-based marketing approach, you can strategically target your efforts with ABM and increase your win rate. When you are optimizing your marketing resources (i.e., money and time) it drives efficiency and reduces waste.
Aligns sales and marketing. ABM can help break down the sales and marketing silos. As stated earlier, when sales and marketing are aligned, businesses are 67 percent better at closing deals. ABM can be an extremely effective way to better align sales and marketing because “marketing is just as invested in targeting, engaging, and penetrating target accounts as sales, and they work in tandem to do so—planning, agreeing on definitions and processes, coordinating outreach, and sharing feedback,” according to Marketo.
Easier tracking. With ABM you’re looking at a smaller set of target accounts so it is easier to track your goals and draw clear conclusions on the success of your campaign.
Deepens account relationships. By delivering valuable, personalized content and leveraging technologies to help support ABM, companies can strengthen and expand client relationships. In fact, 84 percent of ABM-ers reported improvements in reputation and 74 percent reported improvements in relationships. It’s interesting to note that those same ABM-ers reported that their top metrics for success were primarily related to revenue (pipeline growth, revenue growth, and win rate).
As a growing number of today’s marketers are migrating toward a customer-centric agenda, more than half of those that have implemented ABM have indicated that it is playing a major role in making their company more customer centric. ABM is clearly proving that it’s more than just a buzz-worthy phrase sweeping the industry because of higher conversion rates. It’s a robust marketing strategy that, for many companies, is delivering real results.
Click HERE to download the complete whitepaper: The ABC's of ABM: 8 Steps to Achieving Winning Results