What’s expected to grow by about 13% with a potential market cap of 2.5 billion by 2029? ABM market value. That’s what.
It’s a mic drop moment for everyone who is already taking advantage of all that ABM strategies have to offer, and a wake-up call for all those who haven’t.
To put it bluntly, the growth in the ABM market is significant because it represents a shift in the way that businesses are approaching their marketing strategies. Businesses are realizing the value of targeting specific accounts and tailoring their marketing efforts to those accounts' needs and interests, as opposed to focusing on casting a wide net to a broad audience who may or may not be listening.
Don’t just take our word for it, look at these four big trends:
- According to ITSMA, almost 50% of all ABM programs are in the ‘expanding’ or ‘embedded’ stage. Translation: ABM is experiencing a period of significant growth, and there are no signs that it’s slowing down.
- 56% of marketers say that personalized content is key to a successful ABM strategy (Forrester).
- Intent Platforms are surging from 10% back in 2020 to 41% in early 2023.
- Cross-Team Collaboration is experiencing a period of growth with 90% of top ABM performers reporting close, cross-functional collaboration between Marketing and Sales.
The conclusion here is simple, ABM isn’t a fad. It’s a proven, effective strategy that’s showing big returns.
So what’s fueling ABM growth?
Enhanced Customer & Buyer Experience
Once customers get a taste of the more personalized ABM experience, they don’t want to go back to being just another data point in your broad target audience. ABM’s customized approach is nearly as important a critical competitive differentiator as the unique selling point of the product or service you’re marketing to them.
Technological Advancements
ABM takes full advantage of the latest tech innovations. Of course there’s AI, which if you haven’t heard about, you may just be living under a rock. On top of that there’s machine learning, data analytics, and automation. When properly implemented, these tools help marketers identify and target high-value accounts, track engagement, and measure campaign effectiveness. The train doesn’t stop there either, as tech continues to advance, ABM will adapt and stay at the forefront of what they can do to enhance the marketing experience, all the while bringing in more business attention.
Marketing ROI and Efficiency
ABM focuses on high-value accounts. When successful, it results in better ROI compared to traditional marketing strategies.
Integration with Sales Processes
Successful ABM strategies bring marketing and sales efforts closer together. The ensuing collaboration helps improve overall business outcomes. It’s also what’s expected to fuel ABM market expansion as more companies realize the advantage of tying together ABM and the sales process.
Global Market Expansion
ABM isn’t confined to one specific market, region, industry, or even language. It’s universal and can be applied to nearly any marketing strategy regardless of the product or service behind it. As more businesses recognize the value ABM brings to the table, its adoption will increase exponentially across the globe. That expansion across geographies and industries will contribute to its overall growth and market value in the coming years.
Key Takeaway
ABM’s projected growth shows how businesses recognize the value of targeted, personalized marketing efforts. That recognition translates to overall increased investment in ABM.
The buyer experience is becoming the focal point for businesses so the path to purchase is simple and streamlined. As ABM’s trajectory continues to trend upward, businesses that adopt this approach can expect to see increased business value impact and overall better outcomes for their marketing efforts.
Want to talk more about how your business can grow with ABM? Get in touch with Marty.