Account-based marketing (ABM) continues to grow in popularity among marketers, but implementing ABM takes time, and new research has uncovered some of the biggest growing pains along the way.
Demandbase recently published the “2020 ABM Market Research Study,” and statistics showed that the majority of marketers (21%) said they do not know how to measure the return-on-investment (ROI) of their ABM strategy. About 16% stated that they have not yet begun to measure their ROI.
Lack of budget (42.72%), lack of ability to execute (38.51%) and lack of tools/tech (33.01%) remain the top challenges for executing ABM, among marketers who have early stage ABM programs.
Those who have full ABM programs already in place state that data quality issues (53.29%), lack of budget (32.93%) and lack of alignment with sales (31.14%) are their biggest challenges.
The Struggle to Implement an ABM Strategy
Despite some of the obstacles associated with integrating an ABM program, previous research suggests that marketers are still willing to try in order to reap the benefits.
Canam Research released “The State of ABM Survey 2020 Trend Report,” and data indicated that most marketers (27.31%) are in the middle of integrating ABM into their overall strategy. Approximately 25.21% claimed that they already have an ABM strategy in place.
That being said, 8.82% of marketers are still unfamiliar with ABM in its entirety, and 14.71% want an ABM strategy, but have yet to implement one.