Account-based marketing (ABM) is like spearfishing. You set a single target, rather than spraying and praying. This concentrates sales and marketing efforts toward one account to generate higher revenue inflow.
The ABM approach bridges the void between these two crucial departments. It establishes shared objectives and helps engage potential buyers with personalized messaging strategies. ABM becomes more relevant and valuable when you have to coordinate many decision-making stakeholders.
When sales cycles get longer, ABM engages different stakeholders based on their distinct needs to increase the chances of closing more deals. Companies use specialized account-based analytics software to gather insights that help engage these stakeholders.
Top account-based marketing statistics
Here are a few account-based marketing statistics that offer insights into the latest trends in the market.
- 40% of B2B marketing teams were part of ABM initiatives in 2019.
- A 7% drop in people working on ABM teams demonstrates growing integration into broader marketing efforts.
- 91% of companies with 1,000 or more employees had fully implemented an ABM program in 2020. 48% of companies ran pilot programs and 20% planned to initiate within six months.
- The global ABM market was $749.4 million in 2020, growing at a compound annual growth rate (CAGR) of 11.6% between 2020 and 2021.
70%
of digital marketing leaders in US B2B companies planned to invest in ABM technology in 2023.
Source: Adweek
- The US ABM market reached an estimated $202.3 million in 2020. At the same time, China grew at a 15.2% CAGR. Australia, India, and South Korea were other major countries that led the Asian Pacific region in 2020.
- The ABM market reached a value of $1.07 billion in 2023. Experts anticipate the market revenue to increase by 13% from 2024 to 2030, reaching nearly $2.39 billion.
The impact of account-based marketing
Many companies have been investing in ABM over the last few years. The statistical evidence below justifies it and shows why ABM is a reasonable choice for teams targeting big accounts.
- Implementing ABM increases average annual contract value and marketing-sourced revenue by 171% and 200% respectively.
- Companies with aligned ABM strategies see a 208% increase in business revenue and profits 27% more quickly over three years.
- ABM marketers saw a 500% jump in target account traffic.
- Most ABM programs (64%) began in the past five years, with many (68%) adopting automation.
- 73% of marketers report that ABM helps increase deal sizes by focusing on lead quality.
76%
of marketers get more return on investments(ROI) with ABM than any other method because they value its long-term benefits like better teamwork and efficiency.
Source: Momentum ITSMA
- Companies reported a 10% revenue increase, with 19% seeing a growth of over 30% after using ABM for at least a year.
- 85% of users find ABM crucial for retaining and expanding client relationships.
- 80% of marketers say ABM increases the value customers bring over their lifetime.
- 83% of marketers say ABM improves engagement with target accounts.
- 61% of companies find ABM increases pipeline opportunities.
- Customer retention rates can improve by 36% with ABM alignment.
- ABM can reduce the time spent on unproductive sales prospecting by 50%.
82%
of B2B marketers see improved teamwork between sales and marketing with ABM.
Source: Demandbase
- 80% of marketers believe high-quality, relevant content significantly influences purchase decisions.
- Aligning ABM with broader demand generation efforts achieves the best results, with 40% of businesses working to balance the two strategies.
Why do we need account-based marketing
ABM strategies bring sales and marketing together. As a team, they target and engage customers with customized content. These statistics from studies and reports show how implementing ABM strategies helps businesses grow.
- About 30% of marketers say they engage twice as often with top company leaders using ABM.
- 71% of ABM marketers employ marketing automation tools.
- 69% of top-performing ABM companies have a dedicated ABM leader.
- 61% of marketers practice content customization for specific industries.
43%
of marketers believe in the importance of advanced data management for ABM success.
Source: Forrester
- 42% of marketers personalize content to boost account engagement and foster long-term relationships.
95%
of marketing leaders believe ABM successfully meets vital goals. 40% rate their ABM strategy as top-notch.
Source: Gitnux
- 90% of ABM marketers target new business creation, with 50% focused on speeding up the sales pipeline and 63% on keeping customers.
Future of account-based marketing
Although B2B sectors find more applications, B2C companies and other sectors are also adopting ABM. Here are some stats that demonstrate how ABM will shape the future:
- 49% of companies are shifting focus to growing with their existing accounts.
- One-third of marketing VPs plan on increasing ABM budgets by 30%.
80%
of customers look for personalized experiences.
Source: Epsilon
- 29% of marketers use ABM to target between 101 and 500 accounts.
34%
of marketing professionals aim to adopt ABM in the future.
Source: Hushly
- ABM shortens sales cycles by 40% and improves team performance. It indicates ABM's growing significance in modern marketing.
Leading with an account-based marketing strategy
As ABM matures, companies are pushing for custom-built content, smart targeting, and robust sales and marketing alignment. Below are some key stats that will give some insights into these ABM strategies.
- Integrating sales and marketing teams can increase deal closure rates by 67%.
- 56% of marketers believe personalized content is essential for ABM success. 40% also give credit to good data management.
42%
of marketers identify lead generation as one of the top performance indicators in an ABM strategy.
Source: Terminus
- Companies with strong ABM strategies attribute 79% of opportunities and 73% of their total revenue to ABM.
- ABM users see an 84% improvement in reputation and an 80% improvement in customer relationships.
Major account-based marketing challenges
Companies in the early stages of implementing ABM need help assessing their ABM efforts effectively. Below is a brief look into the challenges marketers face while implementing account-based marketing.
- Finding enough budget and resources for ABM is tough for 37% of marketers.
32%
of leaders struggle with sales and market alignment.
Source: Ascend2
- 17% of marketers have fully developed ABM strategies. The rest are still figuring out how to set up ABM.
- 43% of B2B marketers have to battle with unreliable data when choosing targets.
- 42% of companies that miss their ABM targets attribute their failure to insufficient leadership.
Leading with intent
ABM uses intent data to personalize messaging and engage key accounts. It works for companies with slightly longer or complex sales cycles. If you’re thinking of experimenting with ABM in your organization, you need the right tools.
For instance, G2’s intent data reveals potential buyers’ main areas of interest. You can use this data to engage more prospects and close more deals.
Learn more about how to take advantage of G2’s buyer intent data in your account-based marketing campaigns.
by Laura Grass
by Claire Brenner
by Joel Garcia