With 24 years of demand generation experience and creditability, Televerde is an industry expert in demand creation. We take marketing and sales best practices seriously.
We gather real-world data whenever possible, and the B2B Marketing Exchange 2018 was a great opportunity for us to gain further understanding from the marketing professionals in attendance. Specifically, we wanted to learn more about their experience with account-based marketing (ABM).
To identify the needs and challenges that marketers face in their ABM objectives, we conducted a survey with 53 different organizations. They all had various lengths of sales cycles, company sizes, and ABM goals. Surprisingly, the results were not as we anticipated.
Since ABM has been a main feature of marketing activities for several years, we expected a larger amount of our poll-takers to have robust programs in place. Instead, it was clear that the ABM implementation process is still a work-in-progress.
From our survey results, it’s important to note that most respondents did have an ABM program in place but of the 27% that didn’t, the lack of technical resources was the leading reason for the absence (see Image 1 below). (“Other” included the lack of ABM knowledge/strategy, awareness, leadership buy-in, etc.)
Although 73% of the total respondents indicated they had an ABM program in place, Image 2 shows that only 56% of which have actually seen success in their approach. The misalignment between marketing and sales is the most common argument as to why companies are not hitting their ABM goals. Additionally:
♦ 25% stated that the lack of cohesion between the two departments is a major roadblock
♦ 62% said follow-up with ABM prospects sometimes takes more than a month after initial contact
But like any well-oiled machine, it takes a lot of planning, obstacles, reassessments, and teamwork to see the results. ABM truly is a strategic approach to reach your target audience and to increase your sales pipeline, and it’s a core component of our strategy here at Televerde.
An additional layer of Sales Development Reps (SDRs) will enhance an account-based program by moving leads from marketing to sales through meaningful conversations and nurturing activities, and ultimately closing more deals.
We know there’s plenty of room for more adoption, alignment between marketing and sales, improvements to resources, and prioritization to make ABM work effectively.
Televerde can help fine-tune your ABM program by moving your buyers along the sales pipeline to increase revenue and success.
Does your business use ABM initiatives? How are they working for you and what challenges are you still facing?