The Ultimate B2B ABM Statistics Smorgasbord
Where were we this week? At a little San Francisco shindig called Dreamforce 2017, where we went in with several key goals:
- Staying at the very crest of the wave when it comes to marketing and sales technology innovation.
- Networking with the best and brightest in the martech universe.
- Eating and drinking everything in sight.
To make sure we’d have ammunition for some truly electrifying cocktail hour conversation, we boned up on the hottest statistics about B2B account-based marketing (ABM). It’s a glorious all-you-can-eat ABM smorgasbord, and we’d love to share it – lucky you!
- A B2B customer will regularly use, on average, six different interaction channels during their journey to a purchase decision. 65% of them be frustrated by inconsistent experiences (McKinsey, 2015).
- As of 2017, there was an average of 6.8 people in the B2B sales process, compared to 5.4 only a year before, in 2016 (Harvard Business Review, 2017).
- 74% of business buyers conduct more than half their research online, yet 89.5% of purchases are still completed by a salesperson (Forrester, May Only 0.75% of leads generated were converted into closed revenue (Forrester, 2013).
- For more than 90% of B2B buyers, the amount of their product research depended on the price of a purchase. The higher the price, the more research they put into making a decision ( Salesforce, 2016).
- 57% of sales and marketing professionals expressed doubts that their lead generation process allowed them to create an ideal experience for customers (LeanData, 2017).
What’s the state of adoption?
- 92% of B2B marketers worldwide claimed ABM was “extremely” or “very” important to overall marketing efforts (SiriusDecisons, 2015).
- Still, in 2015, 52% of enterprises said they didn’t have ABM pilot programs in place (SiriusDecisions, 2015).
- Just 20% had an ABM strategy in place for more than a year, but were already seeing the value (SiriusDecisions, 2015).
- More than 60% of companies planned to invest in ABM technology (DemandBase, 2015).
- By 2017, 72% planned on increasing their ABM budgets in 2017 (ITSMA and ABM Leadership Alliance, 2017).
- 80% of ABM users deployed1-on-1 email outreach to communicate with accounts (FlipMyFunnel, 2017).
- 71% of ABM users employed phone calls or social media to communicate with accounts (FlipMyFunnel, 2017).
- Large companies were the heaviest users of ABM at 41%, while small companies were the most aggressive testers at 23% (Demand Metric, 2015).
- 84% of marketers reported ABM drove improvements in reputation – brand perception, awareness and knowledge (ITSMA and ABM Leadership Alliance, 2017)
- 69% reported improvement in annual revenue per account. (ITSMA and ABM Leadership Alliance, 2017)
- 97% of marketers said ABM had higher ROI than other marketing activities. (Alterra Group, 2016).
- 87% who measured ROI said ABM delivered higher returns than any other marketing approach – up from 83% in 2013 (ITSMA and ABM Leadership Alliance, 2017).
- 80% of marketers said ABM outperformed other marketing initiatives by allowing them to engage key personas at target companies (ITSMA, 2015).
- Annual contract value (ACV) saw a 171% lift after implementation of ABM (TOPO, 2016).
- 60% of marketers who had ABM in place for at least a year saw a revenue jump of at least 10%, while 19% reported a revenue bump of 30% or greater (Demand Metric, 2015).
- When ABM has been in use for at least a year, 60% of users reported a revenue increase of at least 10% & 19% reported a revenue impact of 30% or greater (Demand Metric, 2015).
- 74% claimed improvement in the number of relationships across accounts. (ITSMA and ABM Leadership Alliance, 2017)
- 84% said ABM provided significant benefits in retaining and expanding existing client relationships (ITSMA, 2015).
With ABM, get aligned and get ahead!
- 91% of those with an ABM program in place said they were “tightly” or “somewhat or moderately” aligned with sales (Sirius Decisions, 2015).
- Companies with aligned marketing and sales departments on average generate 208% more revenue for their marketing efforts (MarketingProfs, 2014).
- ABM directly addresses sales-and-marketing alignment, helping to reduce the 50% of sales time wasted on unproductive prospecting (MarketingProfs, 2016).
- Enterprises with well-aligned sales and marketing functions saw 36% higher customer retention rates and 38% higher sales win rates (SalesProfs, 2016).
- Companies are 67% better at closing deals when sales and marketing teams are aligned (Marketo, 2017).
- Enterprises that optimized their marketing and sales relationship grew revenue 32% faster (Aberdeen Group, 2016).
Why AI for ABM?
- 86% of marketers surveyed believe that predictive analytics is central to account-based marketing success (Forrester, 2017).
- 65% of business buyers will likely switch brands if a vendor fails to personalize communications to their company (Salesforce, 2017).
- 89% of business buyers expect vendors to understand and anticipate their needs (Salesforce).
- 51% of marketing leaders are already using AI (Salesforce, 2017).
- 72% of high performing marketing teams are using AI for product recommendations and predictive lead scoring (Salesforce, 2017).
- 57% of marketers using AI say it’s absolutely or very essential for creating 1-to-1 marketing across every customer touchpoint (Salesforce, 2017).
Whoa, that was a feast! So if we don’t see you at Dreamforce this year, it’s probably because we’re up in our room, belts unfastened, taking a long snooze, stuffed full of factoids…and maybe martini olives.