SAN FRANCISCO — A consortium of marketing technology companies joined together today to take account-based marketing (ABM) to the next level.
Demandbase, a targeting and personalization marketing platform for B2B marketers, announced the inception of the ABM Leadership Alliance in conjunction with opening day of its annual user conference here.
ABM, based on the collective decision-making process, capitalizes on the reality that most B2B buying decisions are made by a group of people rather than one individual. "If you are only looking at an individual, you may only get a part of the picture; seeing the collective acting together helps you to truly understand how interested an account is in your solution," Peter Isaacson, CMO of Demandbase, noted in a statement.
In simple terms, ABM is the ability for a B2B marketer to target a cross-section of companies. Demandbase claims itself a leader in the space.
The San Francisco-based company's two-day Marketing Innovation Conference focuses on ABM, specifically on helping marketers understand how to make it work for them.
Spreading the Account Based Marketing Word
The new alliance brings Demandbase together with multiple ABM-focused technology and data vendors, including Oracle Marketing Cloud, Optimizely, Bizible, Radius, Get Smart Content and LookBookHQ.
The goal is to educate B2B marketers about development and deployment of successful ABM strategies, including creating the right technology stack to scale and automate their efforts.
ABM has quickly climbed to the top of the marketing technology favorites list.
The SiriusDecisions’ 2016 State of Account-Based Marketing, also released today, shows that more than 70 percent of B2B companies want ABM programs.
Specifically, the report shows more than 70 percent of B2B companies have staff that are fully or partially dedicated to driving ABM-specific programs and 58 percent have a pilot or test program.
About 41 percent have a full ABM program in place — more than double the 20 percent who had a full program in place last year. That growth is not surprising, given that marketers claim ABM helps to increase revenue, grow their pipelines and deliver higher quality leads.
But even as ABM adoption soars and new technologies have emerged to help scale the strategy, Demandbase contends "there is a growing need for clarity around the best approach, the best combination of available technologies and how to deploy ABM within organizations."
Confirms Bizible, Terminus Research
The finding confirms a recent survey of senior marketers that revealed companies are committed to account-based marketing (ABM).
The “2016 ABM Metrics Report,” produced in partnership by Bizible and Terminus, reported that about 80 percent of respondents are gaining notable results from ABM — and none plan on scaling back efforts.
Isaacson said the growing adoption of ABM "continues to accelerate across industries."
But as more and more companies move from evaluation to implementation, there is ongoing uncertainty about best practices in ABM and how to scale a company’s ABM effort, Isaacson said.
“The sheer volume of marketing technology options available leaves B2B marketers unsure about which steps to take to begin developing an ABM Strategy. This group of experts will provide B2B marketers with guidance and oversight on how to leverage technology to create a high performing ABM plan,” he noted in a statement.
The ABM Leadership Alliance
The new ABM Leadership Alliance today released a new e-book that identifies technologies that make up an ABM stack, factors to consider when evaluating technology options, and analysis of how each of the layers can help marketers identify, attract, engage, convert and measure activities with their target accounts.
At the Demandbase conference, marketers will discuss such issues as scaling an ABM strategy through technology.
Attendees will also learn how to navigate the marketing technology landscape and gain a deeper understanding of the key technologies to deploy in a quest to ensure ABM strategy a success.