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Account-based Marketing Market 2018: Evolving Technology, Trends and Industry Analysis to 2024

Author : Ronak Bora | Published Date : 2019-06-03 

North America is expected to hold a significant share of the account-based marketing market over the forecast timeline due to the high penetration of ABM in this region, especially in the U.S. Due to the local presence of major market players such as Demandbase, 6Sense, and InsideView, the ABM ecosystem has evolved rapidly with more Small and Medium Businesses (SMBs) opting for ABM strategies to maximize their marketing ROI. Also, industry associations, such as the ITSMA, are offering novel insights to the B2B marketing community in the region regarding new technological solutions for enhancing the effectiveness of their marketing campaigns in a highly competitive landscape.

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Account-based Marketing Market is expected to exhibit lucrative growth to 2024 as the discipline enables increased marketing Return on Investment (ROI), more efficient & targeted marketing campaigns, and an improved customer experience. The strategy focuses sales and marketing efforts on specific accounts while devising personalized marketing campaigns for each account. ABM is experiencing a rapid resurgence and is gaining significant momentum due to technological innovations that allow enterprises of all sizes to implement their marketing efforts in an automated and scalable manner.

According to the IT Services Marketing Association’s (ITSMA) account-based marketing market Survey, in 2014, ABM delivers the highest ROI compared to other B2B marketing strategies. As ABM enables targeted attention toward growing revenue and generating pipeline with strategically-significant customers, it offers more recurring revenue, bigger deal sizes, and longer customer associations. Also, as companies are increasingly demanding and responding to personalized offers and marketing content, ABM enables enhanced audience engagement, leading to higher chances of deal closures compared to the traditional marketing practices.

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Regulatory policies and a changing technological landscape have majorly facilitated the shift from traditional email-based marketing campaigns to ABM practices. These traditional marketing methods worked well until the emergence of the legally-required unsubscribe option and spam filters. With more companies using internal messaging tools and bypassing emails, the need for modern marketing tools is being increasingly explored by the marketing community. Enterprises that adopt ABM are more competitive and successful than their peers who market solely to individuals. While traditional marketing automation campaigns are targeted at a large pool of people sharing similar interests or characteristics, AMB campaigns are personalized for individual decision makers. According to the ITSMA, nearly 75% of high-level executives in companies read unsolicited marketing emails that might be relevant to their business. AMB allows marketers to engage with key decision makers in a hyper-personalized manner.

The companies operating in the account-based marketing market are engaged in new product developments and strategic commercialization to gain a competitive edge over other players by offering a more comprehensive target-marketing approach to their customers. For instance, in September 2018, Demandbase, one of the leading ABM solution providers, announced the integration with Salesforce Pardot to allow B2B marketers to access Demandbase’s anonymous website engagement and intent data with Sales Cloud and Salesforce Pardot.

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In January 2018, SourceMedia, a digital media company based in the U.S. launched its ABM product SourceSelect+. It analyzes SourceMedia’s first-party intent data for identifying prospects that are suitable for a client’s product. Some of the companies operating in the account-based marketing market are Demandbase, 6Sense, InsideView, AdDaptive Intelligence, Act-On Software, Celsius GKK International, Albacross, Engagio, Drift, Uberflip, Triblio, Terminus, Radius Intelligence, Marketo, MRP, Lattice Engines, Madison Logic, Kwanzoo, and Iterable.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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