Weekly ABM Insights Newsletter - Aug 12
- NextGen ABM
- Aug 13, 2024
- 5 min read
Updated: Nov 12, 2024
8th Edition
In this edition, we’re diving deep into the power of B2B data in ABM/ABX. From the critical role of B2B data providers to the evolving landscape of ABM/ABX measurement and attribution, data is at the heart of driving effective strategies. Whether you’re refining your metrics, enhancing your attribution models, or seeking insights from top data providers to up level your ABM game, this week’s insights will equip you with the knowledge to stay ahead in the competitive B2B space.
Industry News
Where ABM Fits into Overall Strategies - 2024 Marketing Measurement & Attribution Benchmark
The latest survey shows that 86% of B2B practitioners are prioritizing marketing measurement and attribution. There's a shift toward tracking diverse metrics, such as email engagement and web traffic. Notably, interest in deeper ABM metrics is growing, with 26% of organizations conducting separate measurements for their ABM programs, and 36% planning to do so next year. The current focus in ABM measurement is on converting engaged accounts to opportunities (65%) and tracking individual campaign metrics (45%). Furthermore, 54% of marketers are engaged in mid-funnel and bottom-funnel attribution analysis, underscoring its increasing importance in refining strategies and justifying investments.
The Forrester Wave™: B2B Revenue Marketing Platforms, Q3 2024
The convergence of B2B marketing platforms is integrating marketing automation and ABM features into unified revenue marketing platforms, enhancing data integration, omnichannel orchestration, and personalized customer interactions. Among the leaders, 6sense excels in advanced analytics and AI, HubSpot appeals to midmarket users with its intuitive platform, Adobe offers an integrated solution focused on buying groups, and Demandbase shines in account-based advertising and platform flexibility for large enterprises. Read the Report
ABX Insights
Key Insights from DemandGen’s 2024 Marketing Measurement & Attribution Benchmark
Emphasis on Diverse Metrics and Advanced Reporting Tools: B2B marketers are increasingly focusing on a broad range of metrics to gauge marketing effectiveness. There’s a significant rise in tracking key performance indicators like email engagement and web traffic.
Sales Metrics Prioritization: Sales teams prioritize metrics that directly measure the impact of marketing on sales outcomes:
Closed/Won Deals: The primary metric for 55% of sales teams.
SQLs and Pipeline Opportunities: Critical for evaluating marketing’s contribution to the sales funnel.
Advanced Attribution Analysis: Attribution analysis is gaining traction, with 54% of B2B marketers engaged in these practices to refine strategies and justify investments:
Mid-Funnel Focus: 47% of marketers track lead conversion metrics, while 38% still do not measure middle-of-the-funnel activities.
Bottom-of-Funnel Focus: 55% of marketers measure conversion from opportunities to closed/won deals, with a decrease in those not measuring this stage.
Challenges in Balancing Brand and Demand Marketing: B2B marketers face significant challenges in linking brand marketing efforts to sales outcomes:
Direct Attribution: Identified as a challenge by 58% of respondents.
Data Accuracy: 42% of marketers struggle with accuracy, complicating the measurement of both long-term and short-term effectiveness.
Resource Allocation: 44% of organizations invest 80% of their resources in demand generation, leaving only 20% for brand-building activities.
Adopting ABM-Specific Metrics: There’s a growing interest in specialized metrics for ABM:
ABM Measurement: Only 26% of organizations currently conduct separate ABM measurement and attribution, with 36% planning to adopt these practices.
Integration Challenges: The most significant issues include integrating data across platforms (45%) and dealing with messy CRM data (40%).
Primary ABM Metrics: Focus is on the conversion of engaged accounts to opportunities (65%) and individual campaign metrics (45%).
Future Focus on Granular Metrics: Over the next 12 to 18 months, practitioners are prioritizing:
Deeper ABM Metrics (70%)
ROI by Channel (65%)
Cross-Channel Engagement Metrics (60%)
Sales 2024: A Revenue Data Analysis
The mid-market and commercial segments are getting crowded, with companies expecting SDRs to generate a significant portion of their pipeline. As sales roles evolve, AEs are taking on more responsibilities earlier in the sales cycle, balancing new business with expansion. This shift highlights the need for recalibrated expectations and better tools to manage their expanded roles effectively. Read the Report
B2B Data in 2024: Research on ZoomInfo
ZoomInfo provides extensive contact data and intent data, valuable for targeted outreach and sales. However, it has a complex pricing structure, a steep learning curve, and some concerns about data accuracy. It's ideal for large enterprises with established sales and marketing teams but might be too costly and complex for smaller businesses. Read the Analysis
Resources
1. Recorded Webinar: Account-Based Strategies: Getting Past the Lead
I recently watched an insightful webinar hosted by Jay Tuel, VP of GTM from Demandbase, and it really resonated with me. The session focused on moving away from lead dependency, rethinking MQLs, and boosting ABM strategies. A standout takeaway for me was the idea of setting new metrics for success and developing signal-based outbound workflows that truly align cross-functional teams. If you’re looking to shift your approach, I highly recommend watching it.
Here's a quick visual guide from the webinar:
Problem: Sales isn’t hitting goals by just following up on MQLs.
Solution: Develop workflows for signal-based outbound strategies.
Action: Clearly define what your team should focus on each week.
A valuable resource for building connections through cold emails. These templates are designed to initiate conversations rather than pushing for an immediate sale, making them effective tools for starting relationships with potential customers.
This guide helps businesses identify the signs of an underperforming contact data provider and offers steps to find a better partner. It emphasizes the importance of having a data vendor that aligns with your revenue goals and supports your growth.
Thought Leader Recommendations
The Science of Scaling - Mark Roberge, Senior Lecturer at Harvard Business School and Co-Founder of Stage 2 Capital, shares insights from successful tech sales leaders on scaling revenue and sales. Tune in weekly to gain strategies that could revolutionize your approach.
Upcoming Events
B2B Marketing Exchange EastThis event is a must-attend for those looking to stay ahead in the ABM industry.
Top Ways to Use Demandbase for Your 2025 PlanningOn August 20 at 10 am PT, join this customer lab to learn how to master your annual marketing plan, review performance, and future-proof your strategies to hit 2025 targets
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Thank you for reading the Weekly ABM/ABX Insights Newsletter! I’d love your feedback, ideas and tips: oceane@nextgenabm.io. If you think someone else might enjoy this newsletter, please pass it forward or they can sign up here. Subscribe to our Weekly Newsletter and follow us on LinkedIn to get the latest insights on industry trends, tips, and useful resources on ABX.
About Us
NextGenABM is a consulting and solution firm aiming transforms B2B marketing and sales strategies with ROI driven pipeline results through account-centric pipeline marketing. Looking to start your ABM journey or need help with your current program? Let's talk.
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