Account-based marketing (ABM) —a B2B practice that drives everything from email to in-person sales — improves metrics on all fronts. But it requires a new set of tactics, according to a study released on Tuesday by TOPO.
Of 150 ABM practitioners polled, 80% say ABM improves customer lifetime value, 86% say it lifts win rates, and 76% say it delivers higher ROI than a standard go-to-market approach
But brands must adhere to best practices.
For example, ABM users pursue only 38% of their target accounts at one time. And 78% have implemented account selection processes to help them prioritize their efforts.
Companies also need a strong Ideal Customer Profile (ICP) — these companies produce 68% higher win rates. But while 80% of the most successful ABM users believe they have one, while only 42% of the others say they do.
In addition, the successful users understand that ABM requires a coordinated approach across both sales and marketing functions.
The study also found that ABM produces a new sales opportunity for every five accounts targeted.
“Many B2B organizations are shifting rapidly to account based to help drive their business growth,” states Eric Wittlake, senior marketing analyst at TOPO.
He adds, “What became clear during our research was that the market growth was fueled by validation from early adopters that account based successfully addresses major business challenges, including pipeline efficiency, retention, expansion, and customer lifetime value.”