How do you use Account Based Marketing as a strategic marketing approach?

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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.

Creating an account based go-to-market approach has been a top priority for marketers in the recent years. However, the tactics, metrics, and resources employed in this approach don’t directly translate into the account based. An ideal GTM approach is one that is well-coordinated to drive engagement and sales progress in a set of target accounts and is the number one priority for a lot of growth-oriented companies.

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.
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