Although the purchase journey is increasingly digital, people still play an essential role in B2B marketing and selling. According to Forrester, 74% of business buyers conduct more than half their research online, yet 89.5% of purchases are still completed by a salesperson. What to do? Consider account based marketing.
Account based marketing is one of the best frameworks for unifying the entire buyer journey from online research, to (re)purchase, to advocacy. Why? Account-based marketing (ABM) aligns metrics across different functions. Sales and customer success reps are typically responsible for the metrics associated with a set of assigned accounts. ABM organizes marketing metrics by account rather than leads, channel, or product. When multiple groups start working on the same goals and metrics that can be tracked by each group member, performance usually improves.
Just look at the incredible account-based marketing statistics below to galvanize your team toward ABM.
P.S: If you’re a marketer pushing for account-based marketing at your organization, please share this link with your marketing and sales peers. Work as one team or risk getting beat by competitors who do. I’ve switched several marketing teams to an account-based marketing approach, and with sales, we accelerated market share gains.
Personalize web CTAs and content
1) “…supplier websites are the most popular channels for conducting research online, according to 83 percent of respondents…” (Accenture)
2) The first 10 seconds of the page visit are critical for users’ decision to stay or leave (Microsoft Research)
3) 65% [of buyers] will come away from it [the buyer journey] frustrated by inconsistent experiences (McKinsey)
4) Individual customer stakeholders who perceived supplier content to be tailored to their specific needs were 40% more willing to buy from that supplier than stakeholders who didn’t (CEB in Harvard Business Review)
ABM results and ROI
5) Almost 85% of marketers measuring ROI say that ABM outperforms other marketing investments (ITSMA)
6) Almost 85% of marketers said ABM provided significant benefits to retain and expand existing client relationships (Marketo)
7) 97% of marketers surveyed said ABM had higher ROI than other marketing activities (Alterra Group)
Align marketing strategies and tactics with sales
8) B2B organizations with tightly aligned sales and marketing operations achieved 24% faster three-year revenue growth and 27% faster three-year profit growth (SiriusDecisions)
9) 89.5% of B2B sales are still completed by a person (Forrester)
10) 91% of those with an ABM program in place said they were “tightly” or “somewhat or moderately” aligned with sales (Sirius Decisions in eMarketer)
11) Solutions providers, especially their SMEs, are the most credible source of information [39% of respondents] during the purchase process (ITSMA)
Adopt account-based marketing before your competitors do.
12) More than 90% of marketers believe that ABM is essential to B2B marketing (SiriusDecisions)
13) More than 60% of companies plan to implement an ABM program within the next year (Terminus)
14) 92% of B2B marketers worldwide say that ABM is “extremely” or “very” important to their overall marketing efforts (SiriusDecisons)
15) 41% of B2B marketers worldwide said they would increase spending on ABM (ITSMA)
Communicate effectively with prospects and customers with ABM
16) On average, a B2B customer will regularly use six different interaction channels throughout the decision journey (McKinsey)
17) An estimated 6.8 stakeholders now has to formally sign off on each purchase, up from 5.4 in 2014 (CEB in HBR)
18) 74% of business buyers conduct more than half of their research online before making an offline purchase (Forrester)
19) 85% of marketers said ABM significantly benefitted them in retaining and expanding existing client relationships (Marketo)
Adopting account based marketing to augment or replace demand generation will accelerate revenue and key indicator metrics such as leads, engagement, and sales opportunities. When sales and marketing team work together to unify a buyer’s journey, the potential ROI is proven. Adopt ABM before your competitors do.
Jason JueJason Jue is currently cofounder and chief marketing officer of Triblio, an account based marketing software provider for the web. He was previously chief marketing officer of Vocus, a publically traded PR software provider; VP of marketing of Rackspace; and held positions at Dell as general manager of ecommerce in Asia and executive director of global SMB CRM.