Many B2B marketers turn to account-based marketing (ABM) to achieve their primary objectives. However, new research suggests that they still face many challenges in this area, particularly when it comes to leveraging data.
Openprise recently published its “RevOps Reality Check” report, and statistics indicated that some of the major challenges B2B marketers are facing in ABM strategy execution include lack of internal expertise (40%), no interest in this type of project (31%), lack of consensus on the best approach (23%), and no budget (18%). Additionally, 24% of respondents said that their lack of confidence in their organization’s data keeps them up at night.
“Bad data is the kryptonite of ABM campaigns — with inaccurate information, organizations are at risk of targeting out-of-market accounts and prioritizing the wrong leads,” wrote the authors of the report. “Missing a high-value prospect results in missed revenue, while targeting an account that’s unlikely to make a purchase is a complete waste of resources.
Overcoming Account-Based Marketing Obstacles
Despite the challenges associated with account-based marketing, previous research indicates that marketers are still intent on rolling out this type of strategy.
DemandGen conducted its “ABM Benchmark Survey,” and statistics suggested that 98% of marketers are already utilizing or intend to implement an ABM strategy. This is despite challenges, including personalization at scale toward target accounts (46%), proving return-on-investment/attribution (43%), and sales and marketing alignment (36%).
Most marketers (53%) believe that their ABM efforts are at least meeting organizational expectations, despite these obstacles. Nearly 22% said that they are exceeding organizational expectations.