As more B2B marketers begin to see a return-on-investment (ROI) from account-based marketing (ABM), new research suggests that they will be increasing their budget for these initiatives in 2023.
The Account-Based Marketing Leadership Alliance (ABMLA) and Momentum ITSMA recently partnered to publish the “Elevating ABM: Building Blocks for Long-Term Growth” report, and statistics suggested that the majority of organizations (71%) intend to increase their ABM spending in 2023. Furthermore, 50% intend to increase their number of staff dedicated to ABM this year.
However, ABM has not come without challenges for B2B marketers. Some of the top obstacles for those working with ABM include tracking and measuring results, developing customizable campaign assets, and personalizing marketing initiatives to key contacts. Most B2B marketers (46%) are still experimenting with piloting, measuring, and refining their ABM approach.
Many Marketers Still in the Early Stages of Leveraging ABM
While ABM has provided an ROI to some marketers, previous research indicates that many are still in the early stages of implementing this tactic into their strategy. Additionally, not everyone is seeing ROI from ABM initiatives just yet.
DemandGen conducted its “2022 ABM Benchmark Survey,” and data suggested that the majority of marketers (45%) are currently in the early stages of using ABM and testing their program. Furthermore, most respondents (39%) stated that their largest challenge pertaining to ABM has been proving ROI. About 38% cited difficulties surrounding sales and marketing alignment.
At the time of the survey, the majority of marketers (84%) stated that they were primarily leveraging email to engage with the contacts on their ABM list.