17 ABM Statistics That Will Make You Rethink Your 2022 Strategy
Every company wants to boost its bottom line and get a great return on investment for its marketing dollars. Account-based marketing (ABM) could be the solution for businesses who want to see improved ROI, and it might be surprising to learn just how helpful this strategy can be.
Take a look at these statistics to see how your business could benefit from hiring an account-based marketing agency.
Statistics About Return on Investment
Did you know that more than 80 percent of marketing departments measuring their ROI said ABM outperformed their other marketing strategies?
Of companies that measured their ROI, 42 percent agreed their return was significantly higher. The same number of clients determined that it was somewhat higher than their other initiatives.
According to another survey by Alterra Group, 97 percent of marketers claimed that ABM had a higher ROI compared to other marketing strategies.
After seeing phenomenal returns on their ABM marketing initiatives, more than 70 percent of B2B companies say that they plan to spend more money on this strategy in the future. It should also be noted that no company said they were planning to spend less on this initiative.
A whopping 96 percent of survey respondents through Demand Metric claimed that ABM impacted the success of their marketing.
Statistics About Customer Retention
ROI is undoubtedly one aspect of marketing that your business should consider, but you should also measure an uptick in engagement with target accounts. According to Demand Metric, 83 percent of companies saw more active engagement with these accounts.
While ABM can be excellent for getting new customers, many use it to focus on customer retention instead. About 75 percent of businesses either already have a customer marketing plan or intend to create one with this strategy.
In addition to all of the other benefits of ABM, 80 percent of marketers agree that this technique increases customer lifetime value.
This is an excellent use of marketing dollars as 86 percent of marketers believe it boosts win rates over more traditional methods.
Finding the right leads is another significant aspect of marketing, but making sure that leads convert is perhaps even more important. With personalized offers made possible through ABM, 40 percent were more likely to buy this tailored content.
Stats About Increased Revenue
According to a survey by Sirius Decisions, 91 percent of companies utilizing an ABM strategy claim to have increased their average deal size. More than one-fourth of all respondents claim that the deal size increased by 50 percent or more.
Along with an increase in deal size, the scope of annual contracts is equally impressive with an account-based marketing agency. Companies that use ABM have seen a 171 percent increase in average annual contract value.
A full 60 percent of those who have initiated ABM strategies for one year or longer have seen revenues increase.
Aligning Sales and Marketing
Companies can better align their marketing and sales departments using an account-based marketing strategy. Seventy percent of ABM users say that these two business areas are aligned compared with just 51 percent of non-ABM users.
Marketo and Reachforce found that businesses are more than 67 percent more likely to close deals when these two departments work hand in hand.
Marketing strategies like ABM that coordinate marketing and sales show a 208 percent increase in revenue.
Hiring an Account-Based Marketing Agency
Companies ready to take advantage of the incredible opportunities via ABM will need to employ the help of an account-based marketing agency to get started. Contact Insights ABM today to see how we can help grow your business!