New Research Reveals Why ABM Is The Business Opportunity of 2021
Research shows that by prioritizing these five points, companies can develop a highly effective ABM strategy for 2021 and the future.
According to research by ITSMA and ABM Leadership Alliance, account-based marketing (ABM) continued to grow in 2020 as a strategy for accelerating digital transformation.
The research reveals that ABM programs must focus on five priorities to continue success in 2021 and the future:
- Strong insights
- Effective collaboration
- Blended strategies
- Strong metrics
ABM spending increased in 2020, especially among smaller companies. Companies under $100 million in revenue dedicate 32 percent of their revenue for ABM, as opposed to 21 percent of revenue for companies over $1 billion in annual revenue.
According to the study, ABM programs generally perform better when it comes to accomplishing greater ROI.
ABM strategies are still fairly new to the business world. The report states that about two-thirds of ABM strategies are still in their infancy, and only 13 percent are fully deployed. However, ABM platforms find themselves poised for investment growth next year, alongside direct mail, attribution and reporting, and intent.
In 2020, when the world changed to virtual communications, ABM strategies had to change as well to keep audiences engaged.
ABM strategies, which are based on targeted and customized solutions, can provide new opportunities to strengthen relationships with customers. Despite the pandemic, very little companies actually reduced their ABM strategies.
Related: How To Build Stronger Customer Relationships With ABM Strategies
As 2021 progresses, many companies will look to improve and develop their ABM strategies. Tactics like virtual events, direct mail, and personalized content have been a driving force for improvement so far. Companies with existing ABM strategies focused on improving relationships with existing customers and working with only specific, relevant accounts.
According to the report, by focusing on the five bullet points mentioned earlier, marketers can establish and advance their ABM strategies.