Navigating the ABM Tech Landscape
Do you have a dedicated ABM platform, an un-integrated/bolt-on solution or CRM and Map only? (UK)
Do you have a dedicated ABM platform, an un-integrated/bolt-on solution or CRM and Map only? (US)
Which are your biggest challenges when it comes to selecting technology for ABM? (UK vs. US)
What's the impact? (UK)
Nearly half of UK marketers lack understanding of how tech fits into ABM strategy as a key challenge.
Over half don't use predictive analytics to identify Ideal Customer profiles (ICP).
Only a third personalize content according to buying stage.
‘Improved targeting and better measurement’ and ‘reporting’ are joint key areas that could be improved through implementing technology.
What's the impact? (US)
A quarter of US marketers rely on a CRM and marketing automation platform (MAP).
Less than half of US marketers tailor content around action-based intent.
A third could do better at identifying or predicting in-market accounts.
Half see tech as a way to improve ABM strategy efficiency and productivity.
Our survey found that many US marketers struggle with one of the key components of ABM - technology. Around one in three respondents said that they face challenges due to the limitations of available tools and technology, and a quarter of marketers still rely solely on a CRM and MAP. This suggests that many companies are missing out on the benefits of more advanced technology solutions that can improve their ABM performance. Relying solely on a CRM and MAP is unlikely to provide a complete picture of target accounts, limiting the opportunity to personalize and tailor messaging.
IT constraints, lack of knowledge about available options, and lengthy contracts are the three key challenges that prevent US marketers from evolving their tech tools, suggesting that this proportion of US marketers will continue to lag behind until they address these barriers to tech adoption. This is when options such as Targeted Demand Generation providers can help make up ground through immediate access to advanced technology without long-term commitment or large financial investment.
Meanwhile, just under half of UK marketers are yet to understand how to leverage techology to advance their ABM strategy. This suggests it is the expertise and strategic know-how rather than the tools themselves, restricting UK marketers from moving the dial on performance.
Unsurprisingly therefore, over half do not use predictive analytics to identify ideal customer profiles (ICPs). This suggests tried and tested tactics such as machine learning (to increase the accuracy of propensity modelling) and AI (to identify viable account lookalikes) remain under-utilized.
This is further evident when we explore the following...
Which areas, and at what stage in their journey, do companies feel tech would be most beneficial?
Our research shows that ABM maturity level determines the top ways in which companies seek to benefit from technology, and understanding these challenges can help guide effective implementation.
For companies in the early stages of rolling out ABM and those scaling consider better access to behavioral data to be among the top three ways that improved tech would benefit their ABM efforts – this is borne out in the data with 36% saying they struggle to identify target accounts and need solutions that can help with account selection.
Whereas for well-established ABM programs, the most significant benefit would be improved targeting capabilities and predictive analytics to boost performance. With such an overwhelming amount of data to crunch, high maturity businesses are looking for robust technology to get a centralized view of their accounts and modeling tools to tap into new prospects.
While those with fully synchronized ABM strategies are potentially looking for improved measurement and reporting to get a more holistic view of the results of their strategy given their level of maturity, and for productivity gains due to the increasing levels of integration between marketing, sales, and customer success.