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Account-Based Marketing Market Statistics - 2030
Marketing in which sales and marketing team work simultaneously to target an account and turn them into customers is called as account based marketing and mostly focuses on B2B accounts. Account-based marketing targets a high value account instead targeting a large audience who are not even interested in the company's product. The pressure of customer acquisition, retention, and revenue generation is increasing on B2B companies as the market competition increases. Many businesses have started adopting account-based marketing as it improves customer relation, generate higher revenue, and provides higher ROI as compared to traditional marketing strategy.
Impact of COVID-19 Pandemic on Account-Based Marketing Market-
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Many businesses are now focusing on identifying the correct audience, a right lead can generate more revenue than many wrong lead. Account-based marketing helps to target only those accounts, which are more likely to be closed. Targeting a prospecting client also helps business increase the cost efficiencies and make efficient use of marketing resource. Furthermore, account-based marketing allows the marketers to customize their business campaign according to their customers and also understand them. Therefore, identifying the right customer and personalized campaign are the major driving factors of this market.
However, account-based marketing focuses mainly on market and sales team work simultaneously. However, in many organizations, marketing and sales teams used to work independently, and thus total alignment of these two departments is difficult. Furthermore, account-based marketing needs resource investments. Although with this approach, companies can save their resources and increase their ROI but initially they have to invest as this technology requires new platform. For effective account-based marketing, one needs to deep research related to the target account. This additional research work requires more labor. For effective working of account-based marketing, marketers are required to engage in the account. Due to this, only few accounts can be handled at a single time. However, marketing automation not only helps marketers coordinate with sales and marketing team but also handle more accounts at a single time. Another market trend is the use of artificial intelligence (AI) in understanding the customers intimately. AI helps marketers to identify and justify the accounts to pursue precisely. Furthermore, with the help of AI, data can be mined directly from the CRM platforms rather than using traditional fields to get data.
Key Benefits of the Report
Questions Answered in the Account-Based Marketing Market Research Report
Key Market Segments
Key Market Players