As more B2B marketers begin to realize the return on investment (ROI) from account-based marketing (ABM), new research suggests increasing budgets for these initiatives in 2023.
The Account-Based Marketing Leadership Alliance (ABMLA) and Momentum ITSMA recently partnered to publish the report Elevating ABM: Building Blocks for Long-Term Growth. Statistics show that the majority of organizations (71%) intend to increase their spending on ABM. Additionally, 50% plans to increase the number of staff dedicated to ABM this year.
But ABM is not without challenges for B2B marketers. Some of the biggest obstacles for anyone working with ABM include tracking and measuring results, developing customizable campaigns his assets, and personalizing marketing initiatives to key contacts. Most B2B marketers (46%) are still experimenting with piloting, measuring and refining ABM approaches.
Many marketers are still in the early stages of leveraging ABM
ABM has provided ROI for some marketers, but previous research has shown that many marketers are in the early stages of implementing this tactic into their strategies. Additionally, not everyone has realized his ROI from his ABM initiative yet.
Data from DemandGen’s 2022 ABM Benchmark Survey found that the majority (45%) of marketers are currently in the early stages of testing their programs with ABM. Additionally, most respondents (39%) said their biggest challenge with ABM was proving his ROI. About 38% cite problems with sales and marketing alignment.
At the time of the survey, the majority of marketers (84%) said they primarily rely on email to communicate with contacts on their ABM lists.