For most global manufacturers, the pandemic demanded a total restructuring of their sales and marketing operations. Social distancing measures and cancelled events meant finding new ways to engage key accounts using digital marketing and selling tools. It’s not hard to see that COVID has permanently changed the way that businesses grow their key accounts.
This shift to digital buying was already well underway, even before the pandemic. According to the 2021 MarTech Intelligence Report, online research makes up the highest concentration of resources spent on purchasing decisions—with nearly half of buyers’ time spent researching products online independently and with their buying groups, and only 17% of their time meeting with vendors. Of course, these trends have accelerated since COVID-19.
ABM: The secret to growing key accounts in the new world of digital buying.
Since the pandemic, forward-thinking Jabmo clients that were already practicing account-based marketing increased their investments by over 75%. This was driven by shorter sales cycles, bigger deal sizes and higher win rates. For those marketers that have seen the results, it’s clear ABM is now the best strategy for growing revenue efficiently in key accounts.
Yet, a surprisingly small percentage of B2B marketers have successfully implemented ABM into their marketing and sales strategies. The MarTech Intelligence Report also revealed only 13% of polled organizations have fully embedded ABM, while an additional 20% say they are currently expanding their ABM coverage. This leaves the vast majority of companies either still exploring ABM, or in the early stages of implementation. So despite the recent digital revolution, most marketers are still sitting on a huge growth opportunity.
You can find more statistics proving ABM’s power in the 2021 MarTech Intelligence Report: “Account-Based Marketing Tools: A Marketer’s Guide.” As a leading provider of ABM solutions to the manufacturing and life sciences industries, Jabmo was featured as a top vendor in this report.
The MarTech report outlines:
- What you should look for in an ABM program
- The capabilities ABM tools provide
- What trends are driving adoption
- Who the leading players are in ABM tools (Check out Jabmo’s profile on page 32!)