We’ve all heard variations on the Pareto principal. 80% of your results come from 20% of the effort. 80% of sales come from 20% of your customers. You get 80% of your marketing engagement from 20% of your accounts.
The Virus has forced most of us to review our sales and marketing budget allocation. Now is a really good time to rethink our target account strategies with a goal to getting a strong return on marketing spend in 2020.
Last year, a Forrester survey of over 120 global B2B marketers showed that the majority focus their account-based marketing (ABM) on fewer than 99 accounts. That focused effort is driving more measurable impact. The majority of responders that saw a positive impact chose ABM to deepen relationships and expand business opportunities with existing accounts rather than net new accounts.
Gartner released a research report last week showing that CMOs are adapting to the Covid-19 pandemic by reducing or even halting lead generation efforts in order to prioritize closing late stage deals and strengthening relationships with current customers.
Over the last year, we have noticed that the most profitable ABM programs focus on existing accounts using first party anonymous buying intent data to prioritize. This leads to a dramatic increase in engagement and sales impact. If you are interested in reading some real-life ABM success stories, check them out here at Jabmo.