Account Based Marketing Benchmarking

1. Account Based Marketing Benchmarking Account-based marketing drastically changes the operating dynamics between sales and marketing. Early users saw massive success and there's a lot of hype from tech vendors surrounding it; although one might ask, what do account- based marketing best practices look like? How are you supposed to get started on this journey and build a steady pipeline with your account-based funnel? For some, adopting ABM may seem easier said than done, and rightly so. To get the right results for your hard work, it is important that you also define the best tactics, necessary budgets, and appropriate resources to adopt an account-based strategy, and link your internal expectations to external outcomes. This article will provide an objective overview of tactics, budgets, and resources, as well as captured organization insights to help you lay the groundwork for 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 recent years. Tweet this! However, the tactics, metrics, and resources used in this approach do not directly translate into the existing account. GTM's exemplary approach is the well-coordinated approach to drive engagement and sales progress in a range of target accounts and is the number one priority for many growth-oriented companies. Some key findings from ABM's work ABM is a strategic approach to market access that provides key board-level metrics. Account-based marketing improves lifetime value to the customer (80%), improves profit rates (86%), and delivers a higher ROI (76%) than the traditional market transition approach. Since its early success, organizations have doubled their investment in ABM in 2019. The companies have increased their spending on ABM by 41% in 2019.

2. More than two-thirds (69%) of top-performing account-based organizations now have a dedicated account-based leader. The market has had a hit - 70% of those who started their account-based initiatives in the past six months have dedicated leaders. The ideal customer profile (ICP) for ABM strategy separates organizations with high performance accounts from their peers. Over 80% of the most successful account-based organizations believe they have a strong ICP compared to 42% of other organizations. ABM is more than just marketing - it's a customized strategy based on a mix of customer-facing jobs, marketing, sales development, and sales. When conducting data-based research on factors that contribute to ABM's success, TOPO concluded that Orchestration was by far the most effective. Not only did it coordinate sales and marketing efforts, but it also allowed organizations to direct those efforts against the ICP. The identification of the ideal customer profile among the top three success factors was then found by 15% of the survey respondents. Having a strong ICP base has been a major factor for the big players and remains one of the reasons for success. Most companies are looking to the right technology for account-based coordination; however, finding the right technology should not overshadow the need to create a solid account-based strategy first. The same is reflected in the research results, with only 11% of respondents choosing. The most important challenge of account-based marketing Scale While most organizations recognize the benefits of the account-based approach, operational zing a repeatable account-based approach remains a struggle. This is because organizations are only able to demonstrate success against a limited set of accounts, and they rely on non-scalable methods to align execution, personalization, and measurement.

3. This is because successfully scaling an account-based strategy requires scalable, repeatable and technically enabled approaches that can be planned, customized, and executed seamlessly. With ABM scaling as a major challenge, organizations are expected to create a consistent and repeatable approach as account-based marketing continues to mature. There are two main factors contributing to this: Account selection and rotation in place - Organizations can group accounts that can be reciprocated, which will provide more visibility into the content, messages, and resources required for implementation in the coming months and quarters. Classify the target account list and link resources to these levels - organizations can prioritize how to intentionally apply resources. Those who do not balance resources with levels based on expected computation value and instead use a one-size-fits-all approach, lose the advantage of the deliberate application of resources as they achieve the highest returns. Account-based spending will continue to grow In 2019, account spending was expected to jump 41%, with organizations of all shapes and sizes seeing positive results. Organizations selling B2B solutions are expected to significantly grow their account-based investments. With investments rapidly shifting to the account, it is expected that marketing between businesses and organizations will eventually become account-based by definition. Hence, traditional investments in volume-focused marketing activities are also expected to fall within this range. TOPO's research reveals mixed investment plans for organizations with average Target Account (ACV) annual contract values of less than $ 25,000; Account-based investments in these institutions are also expected to decrease. Strategy It is expected that more SMEs will spend 40% on account-based marketing. This increase is said to come from the increasing importance of account-based

4. initiatives as it moves from a strategic or corporate sales sector to commercial and mid-market sales sectors in enterprise B2B companies. “As the transition-to-market mix evolves, many account-based strategy and implementation best practices will be adopted as general best practices for corporate and enterprise marketing.” Customer acquisition remains a top priority rather than expanding existing customers. Larger companies ($ 1 billion + revenue) split their account-based focus in half between customers and prospects, while smaller companies (less than $ 25 million) invest 18% of account-based efforts in existing clients. Have a strong ICP program The account-based enterprise strategy revolves around a robust and idealized client profile. Without it, companies will not be able to align efforts with a common list of target accounts. TOPO data reveals the effectiveness of ICP, which is developed from both qualitative and quantitative input. Leading companies with strong ICP saw a 68% higher win rate in accounts, while 81% of top performing organizations trusted their ICP. In addition, organizations that combined qualitative input from stakeholders with data of potential clients and customers were 61% more confident that their ICP Scales The ideal account-based measurement model should prioritize tracking engagement across the entire account rather than engaging individual leads. This process should include a complete list of target accounts, which represent the addressable market for account-based efforts. These are the conversion points in the funnel: Participation Accounts - The number of target accounts that have reached a meaningful level of engagement. (Interactive rate calculation) Opportunity Accounts - The number of accounts that contain one or more new opportunities. (Chance rate)

5. Closed Accounts - Number of accounts targeted with a new closed profit opportunity. (Account win rate) Compared to the traditional funnel, which often includes a large number of unqualified leads, the account-based funnel is very effective. This efficiency allows organizations to focus resources on only a portion of their directive market, ultimately providing a significant impact on revenue and revenue. Effective account-based implementation is based on strategic organizational decision and requires dedicated leadership. An ABM leader will not only oversee planning and implementation but will also drive the organizational change required to adopt an account-based approach and change the way companies measure their results. Larger companies are more likely to hire an account-based leader, while companies with more than $ 500 million in revenue are 38% more likely to hire a leader based on a dedicated account, compared to companies with income below $ 50 million. Companies that started account-based marketing today learn from the mistakes of their predecessors. This was seen in 67% of companies that already had an account-based leader in their first year of account-based marketing. However, most organizations implement a successful account-based marketing strategy without requiring additional reinforcements or dedicated resources. In some cases when organizations add a dedicated resource, they are more likely to add account-based SDRs and marketing program managers. Account-based marketing is more than just a marketing initiative as sales and sales development are critical in the account-based implementation phase. Indeed, organizational alignment is essential for cross-functional execution, adoption, implementation and scaling of an account-based strategy. While marketing, sales development and sales engagement is high globally, the best performing employees are 3 times more likely to engage in customer success and 96% more likely to participate in account management than those with poor performers. This contrast reveals a broader adoption of account-based marketing across the entire customer life cycle within the top performing organizations.

6. Due to resource limitations, it is important for organizations to establish a process for determining which accounts to actively target, switching accounts from active to inactive and vice versa. Account selection gives organizations the ability to focus resources where they are most likely to yield the largest results, pool accounts for more efficient execution or identify accounts most likely to convert in a specific time period. The account selection process usually includes a combination of sales input, company data, and intent statements. For listings with more than 5,000 accounts, the most important inputs are intended data and company information such as industry and technology. Some ready meals Make sure to invest the time and resources needed to create a robust ICP as it is one of the main foundations for developing the entire account target list and account based strategy. Develop curated plays that combine multiple tactics and combinations, including SDRs, for a highly impactful experience. Identify a leader responsible for developing the account-based strategy and seeing it through to success. Finally, it takes a computation-centric approach to measurement and is committed to providing opportunities, pipeline, and results