The metrics prove it—ABM yields higher ROI. In fact, 72% of companies measuring ROI say that ABM outperforms other marketing investments.
However, despite the success stories and verifiable results, lingering myths surrounding ABM prevent businesses from fully embracing this strategy.
If you're unsure about ABM or question its efficacy, this post is tailor-made for you. We'll debunk four common ABM myths and give you the facts to make an informed decision.
Some skeptics argue that by focusing on high-value accounts, ABM neglects the leads captured by demand generation, diminishing conversions and interest in your brand.
The truth is that rather than viewing ABM and demand gen as mutually exclusive, you should see them as complementary approaches.
Demand gen looks at broad market segments, whereas ABM caters to specific targets, but the strategy is the same. ABM adds personalized messaging and content while maintaining lead capture and nurturing tactics.
When you combine ABM with your existing demand generation efforts, you optimize your marketing funnel. Demand generation supplies the leads and spreads awareness. ABM then finetunes your focus, so it's on the proper accounts.
Myth #2: ABM is only the marketing team's responsibilityBusiness owners who lack a complete understanding of ABM have sometimes let marketing heads control the strategy, with sales and customer success teams on the sidelines. These owners fell prey to one of the most common myths attached to ABM, the belief ABM is purely a marketing function.
Under this idea, one department is exclusively responsible for identifying, targeting, and engaging high-value accounts. It's an impossible burden, no matter how large or efficient your marketing team is. Successful ABM requires close integration between marketing and sales.
An ABM plan hatched and executed entirely by marketers may bring a positive ROI, but it won't reach its potential. The sales team has curated insights into the accounts they manage, including who the key decision-makers are and their pain points. Marketing's job is translating those insights into content and outreach that speaks to each account.
The collaboration benefits salespeople, too. They gain the customized content package they need to shorten the sales cycle. 66% of companies say ABM has increased alignment between marketing and sales.
If your business has a dedicated customer success team, their buy-in to the ABM process will also improve results. They know your most important accounts intimately. They can provide marketing with real-world examples of how customers describe their problems and what's preventing them from upgrading to a more expensive tier or purchasing another product.
This data creates a clear path to engage with the accounts and deliver marketing materials directly addressing their concerns.
When you have doubts about ABM, it might be because you believe it's reserved for businesses targeting a handful of major accounts.
While it's true that defining a target account list (TAL) should be your first step when incorporating ABM, you can have as few or as many accounts on your list as you want. Most companies need a few dozen names on their TAL to see results. Some prefer thousands.
So, how do you determine who belongs on your TAL? Start with your data. Review any current accounts that yield high revenue or long-term customer loyalty, and then look for characteristics they share. You can use algorithmic or manual comparisons.
Next, look at intent and engagement attributes. What topics do they show interest in? How often do they visit your site? Open your emails?
Remember, your TAL isn't set in stone. You can adjust the list accordingly as you uncover new insights about your target accounts.
Myth #4: ABM is a newer trend but not as effective as other proven strategiesInterest in ABM has surged in the past few years, so it's easy to think the term is a trendy marketing buzzword. In reality, ITSMA coined the term "Account-Based Marketing" almost two decades ago, and big companies have been using its practices for years before that.
ABM took a while to catch on because it was only feasible for companies with extensive budgets. Now, you can use machine learning and AI-derived insights to create an accurate and valuable TAL in a day instead of months. Plus, the explosion of digital content and engagement channels makes ABM affordable for businesses at every level.
And here’s why that matters: ABM works. 91% of companies with ABM strategies say it has increased the size of their average deal.
You cannot set up an ABM campaign and sit back while revenue pours in. Like any marketing strategy, it requires constant effort, monitoring, and tweaking. But the results speak for themselves.
Book a demo today if you’re ready for a simpler ABM solution tailored to your team’s budget and resources.
