Best Account Based Marketing Benchmarks

Account based marketing is dramatically shifting the operational dynamics between sales and marketing. Early adopters have seen phenomenal success and there’s so much hype from tech vendors surrounding it; though one might ask, what do account based marketing best practices look like? How are you supposed to begin on this journey and build a consistent pipeline with your account based funnel?

To some, ABM adoption may sound easier said than done and rightfully so. To get the right outcomes for your hard work, it is important that you also identify the best tactics, necessary budgets, and the right resources for adopting an account based strategy, and to tie your internal expectations to the external outcomes.

This article will provide an objective overview of tactics, budgets, resources, as well as captured organization insights to help you lay the groundwork on leveraging, developing, and enhancing your account based marketing initiatives. Let’s get started.

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Some Key Findings from Doing ABM

ABM is a strategic go-to-market approach that delivers key board-level metrics. Account based marketing improves customer lifetime value (80%), improves win rates (86%), and delivers higher ROI (76%) than a traditional go-to-market approach.
Since its early success, organizations have doubled down on ABM investments in 2019. Companies have increased their ABM spend by 41% in 2019.
More than two-thirds (69%) of top-performing account based organizations now have a dedicated account based leader. The market has caught on—70% of those who started their account based initiatives in the last six months have dedicated leaders.
The Ideal Customer Profile (ICP) of an ABM strategy separates top-performing account based organizations from their peers. More than 80% of the most successful account based organizations believe they have a strong ICP compared to 42% of the other organizations.
ABM is more than just marketing – it is a customized strategy based on the mix of customer-facing functions, marketing, sales development, and sales.
When doing a data-driven research on what factors contribute to ABM success, TOPO concluded that Orchestration was by far the most effective. It not only coordinated sales and marketing’s efforts but also allowed organizations to direct those efforts against the ICP.
Then defining the Ideal Customer Profile was found among the top three success factors by 15% of the survey respondents. Having a strong base of ICP has been one of the key differentiators for big players and remains one of the reasons for success.
Most businesses look to the right technology for their account based orchestration, however, finding the right technology should not overshadow the need to establish a strong account based strategy first. The same is reflected in the research results, where only 11% of respondents chose technology as a key contributor to account based marketing’s success.

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Top Account Based Marketing Challenges

While most organizations understand the benefits to an account based approach, operational zing a repeatable account based approach still remains to be a struggle. That’s because organizations are only able to prove success against a limited set of accounts, and they rely on non-scalable approaches to align execution, customization, and measurement.
That’s because successfully scaling an account based strategy requires having a scalable, repeatable, and tech-enabled approaches that can be planned, customized, and seamlessly executed.
With scaling ABM as a major challenge, organizations are expected to create a consistent and repeatable approach as account based marketing continues to mature. Two key factors that contribute to this are:
Having an account selection and rotation process – Organizations can group accounts that can be treated similarly, which will provide more visibility into the content, messaging, and resources required for execution in the coming months and quarters.

Tiring your target account list and tying resources to those tiers – Organizations can intentionally prioritize how resources are applied. Those that don’t align resources against tiers based on expected account value and instead use a one-size-fits-all approach, lose the benefit of intentionally applying resources where they deliver the highest returns….. Read More

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