ABM
Momentum ITSMA Staff
February 22, 2023
Now in its sixth year, our global ABM benchmarking study looks at trends to see what’s working and what’s not. In conjunction with the ABM Leadership Alliance, this is the largest survey of its kind and, with more organizations investing in ABM than ever, we can really use this research to shape what’s coming next.
In this podcast, Momentum ITSMA CEO, Alisha Lyndon, is joined by our own Rob Levitt, Senior Vice President of Advisory, and Chief Customer Officer, Will Nicholls, who share key insights to help form your account-based strategies in 2023.
While the world has seen unprecedented change since the birth of ABM 20 years ago, Rob believes the core principles will remain central to any growth strategy in 2023. “It is not about lead generation or hand-offs. It’s a long-term focus, where marketing and sales work together to broaden and deepen relationships with key accounts, as well as drive revenue. Taking a customer-centric approach is the only way you can create tailored campaigns.”
With 71% of the companies surveyed intending to increase their investment in ABM across their go-to markets this year, it’s clear there’s a huge appetite for it. Why? Because it works.
“Companies invest in ABM because it works in a variety of ways,” says Rob. “A significant number have seen improvements within engagement and their reputation with priority accounts. Our studies tell us 90% of programs doing ABM are seeing measurable, substantial increases in active engagement with key accounts. Eighty four percent report real advances in pipeline growth, over three quarters are seeing revenue growth, and two thirds say ABM is significantly improving marketing and sales alignment.”
Nurturing an ABM ecosystem
The study identifies the real leaders in ABM, with the most effective strategies to integrate and elevate ABM as a corporate priority. Rob believes aligning marketing, sales, consulting, products, client success – and even finance – is where the real leaders stand out.
“On the one hand leaders are really investing in the skills of their core ABM team, but there’s also a broader alignment around the extended ecosystem. If ABM is a corporate priority and strategy, it’s not just a small team implementing it. There’s a lot of focus on building the relationships, including outside consultants too.”
Key initiatives for 2023
There are some clear ABM program initiatives that organizations are looking to adopt and prioritize over the coming months.
“We’re seeing a lot more organizations using a blended approach to ABM. They’re no longer thinking about one-to-one, one-to-few, and one-to-many as individual activities and layers, but finding ways to blend activity across them all,” Will comments.
He also says the study shows there will be a definite increase in education and training, with companies investing in ABM skills to make a more consistent approach within existing teams as well as new marketers.
“We need to be thinking about shared metrics, training, education, understanding and a collaborative process. I really think we’re seeing progress here, although maybe not as fast as we’d like.”
Will says technology infrastructures will be prominent in 2023: “We’re in a phase now where companies see tech investment as a number-one priority. We’re seeing more and more adding tools to automate and create greater leverage for existing platforms, in a sensible way that still preserves the principles of ABM.”
Of course, the one thing on many minds is what impact the economic downturn may have in 2023. Although it appears that even this air of uncertainty isn’t curbing the hunger for ABM. Senior marketing leaders indicate that honing their focus on existing relationships, and crucial prospects, deals and opportunities, will be a dominant strategy. Others may scale back or try to expand without investing. But investment matters, and 2023 is going to be a crucial year for the development of ABM.
Listen to the full podcast here.
