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return on ideas

Tiziani Whitmyre, Inc.

return on ideas

a TW marketing blog exploring ROI marketing
Rick Whitmyre

by Rick Whitmyre
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Beyond ABM to ABX: Are you ready?

What’s the next step after account-based marketing? Many think it’s an evolution to ABX.

The account-based marketing (ABM) strategy is maturing at many B2B and life science companies.  According to a recent study, there is a strong correlation between mature ABM programs and greater success.1 Two-thirds of the ABM-experienced marketers said their programs are meeting or exceeding expectations.

Specifically, these practitioners outpaced novices in three key categories:

• Better aligned sales and marketing teams (70% versus 44%)

• Faster sales cycles (31% versus 24%)

• Stronger, more trustworthy relationships with accounts (48% versus 39%).

In addition, ABM content at mature programs has becoming more engaging. The survey found that experienced practitioners’ offerings included interactive content, influencer/advocate-related content, videos, and promotional item giveaways.

Once B2B and life science marketers establish viable ABM programs, the next step is the transition to what some strategists are calling “ABX” ─ a more holistic effort that leverages sales and customer experience teams. While ABM has focused on identifying and engaging valuable accounts, ABX employs data and insights to identify when and how to engage with accounts and what to offer them.

ABX does not replace account-based marketing, because the ABM competency is core to your strategy. Instead, it transitions ABM to a more comprehensive effort that aligns sales, customer success, and product marketing teams.

Research shows that multi-function collaboration and alignment are essential for better revenue growth. About 75% of these aligned companies said they are either meeting or exceeding their revenue goals. Plus, businesses with cooperating sales and marketing teams experienced 36% higher customer retention and are 67% more efficient at closing deals.2

TW’s Take

Launching an ABM strategy is major effort that promises greater revenue growth and an improved customer experience. Marketing leaders must begin this journey by installing basic ABM principles such as identifying target accounts and buying decision makers, securing their contact information, and developing a content strategy. Migration to ABX should not be considered until a mature, functional ABM program is in place.

Implementing a sales/marketing alignment effort is a great way to begin the ABX journey. Marketing and sales must think like an ongoing, evolving team. While each member will have different roles and responsibilities, they will recognize that success will depend on collaborating as a unified group. In addition, the use of intent data will enhance marketing’s content strategy and alert sales when customer organizations indicate readiness to buy.

For copy of the study, email rwhitmyre@tizinc.com.

1, 2 2022 State of ABM Benchmark Survey, DemandGen, October 2022.

More Categories Like This: B2B Buying, B2B Marketing, B2B Sales, Marketing Strategy

Rick joined Tiziani Whitmyre from Invensys plc where he was vice president, communications & e-commerce for the corporation’s Software Systems Division. His responsibilities included marketing communications and branding, employee communications, e-commerce, and public affairs for the division’s businesses (Foxboro, Wonderware, Baan, APV Systems, Simulation Sciences, and Triconex). Prior to joining Invensys, Rick was director, communications, for Lukens Inc., a NYSE-listed specialty steel producer. He also held senior positions at United Technologies Corporation (UTC) – serving as director of communications at Pratt & Whitney, senior director of communications at Carrier Corporation, and director of media relations at UTC’s corporate headquarters.

Rick holds a bachelor’s degree in journalism from the University of Colorado. He has served as chairman of the National Association of Manufacturers’ Communications Advisory Council and has been recognized with the ProComm award from the Business Marketing Association, Gold and Silver Quill awards from the International Association of Business Communicators, and Best Industry Annual Report awards from Financial World and the National Association of Investment Clubs.

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