Drive Demand Performance Outcomes with ABX

In 2022, ABM received more than a quarter of all marketing spend, according to Momentum ITSMA. In an encouraging sign of its continued relevance, 71% of companies were poised to increase their ABM spending in 2023—a 13.1% year-over-year increase. This is in contrast to 2021 when 53% of companies planned to reduce ABM spending 
(State of B2B Marketing Budgets Survey, 2023).

Such a shift in investment signifies a renewed focus on the power of ABM to drive business growth, particularly
as more ABM strategies receive executive support—highlighting top-level buy-in for these initiatives. As a testament
to their effectiveness, personalised ABM marketing campaigns have been proven to boost conversion rates 
by up to 20% and contribute to a 40% increase in client engagement.

With 67% of brands already utilising ABM in 2023, it is evident that this strategy continues to be the most dominant GTM approach in B2B marketing. As organisations increasingly recognise the value of ABM and its ability to connect with buyers, the stage is set for 2024 to be a transformative year.

Lead lists remain an integral component of the lead generation strategies employed by a substantial number
of organisations. As per recent statistics, 68% of B2B marketers opt to purchase lead lists, with the average cost per lead ranging from $0.25 to $10 USD (Clutch, 2022).

Whilst lead lists have their place in sales and marketing strategies, they can obstruct personalisation. ABM demands
a tailored marketing approach for specific target accounts, but lead lists typically offer only basic contact details, impeding deep personalisation—not to mention the challenges with opt-in requirements. Lead lists lack the depth of information required for crafting highly relevant content and programs that address the unique needs of each target account.

In addition, data analytics, instrumental for interpreting and acting upon data insights to implement personalisation, remains an underdeveloped skill, with just 8% of marketers reporting proficiency or training in this area. Furthermore, there is a notable lack of investment in data management technologies within the context of ABM. In addition, only 20% 
of low-performing organisations utilising ABM leverage data augmentation tools versus 37% of high-performing organisations (DemandGen, 2023).

To address these challenges and move toward an ABX framework, organisations should consider a multifaceted approach:

The relatively low maturity in ABM at numerous organisations suggests that it is frequently approached as a singular
campaign or a short-term tactic, rather than being recognised as a comprehensive, organisation-wide framework designed for long-term success.

A notable third of organisations report that their ABM campaigns are either underperforming or significantly underperforming. More importantly, nearly half of underperforming ABM campaigns have been active for less than one year, whilst an impressive 
66% of high-performing ABM campaigns have been running for over a year (DemandGen Report, 2023).

This data suggests a strong correlation between the implementation of ABM and the duration of programs
with their performance. Achieving positive outcomes in ABM requires a long-term commitment and sustained investment.

This performance makes a compelling case for implementing ABX as a foundational framework, as it emphasizes an agile, organisation-wide, client-centric strategy.

B2B buyers are also getting younger, with 65% now ranging between the ages of 18 and 40, according to research from the American Marketing Association. The majority of B2B buying committees now include millennial and Gen Z decision makers.

These younger generations display distinct buying behaviours compared to their predecessors. They are more discerning, actively involved in numerous buying activities, and are more inclined to express dissatisfaction 
with the purchasing process, according to 2023 Forrester research.

B2B buyers' high expectations also spill over into their internal organisations, creating a challenging environment 
for buying committees, who are now under pressure to make carefully considered purchases that can readily demonstrate a return on investment. This pressure has led to a common phenomenon: fear of messing up (FOMU).

Organisations targeting B2B buyers must furnish campaigns with ample social proof, case studies, and demonstrations of their solution's effectiveness to gain their trust.

Data management and analysis are paramount; however, few organisations designate enough resources or training to effectively enable personalisation.

This is a long standing challenge. Indeed, according to our own 2022 Voice of the Marketer research, only 16% of respondents use advanced buyer and account intelligence models to inform their sales and marketing outreach. This is set to continue
as our latest INFUSE Insights revealed that, even with the data analysis allowed by AI solutions, personalisation remains 
a low priority (46%) for many marketers in 2024.

As a result, organisations that make full use of data management and account intelligence stand to secure
a competitive advantage in the market.

To ensure effective data management:

The choice of program structure in an ABX strategy can significantly impact the level of personalisation you can achieve. Each of the three approaches has its own implications for personalisation:

Automation and AI are indispensable tools in the pursuit of agile and effective personalisation within ABX programs. According to our 2024 INFUSE Insights, only 24% of marketers currently harness AI for ABM to prioritise and identify
target accounts and buyers, despite its immense potential for optimisation.

The true power of automation and AI lies in their ability to provide data-driven insights into account and client behaviour, preferences, and intent. By employing these technologies, ABX programs can identify the most promising accounts, streamline their outreach efforts, and deliver content that resonates with individual accounts and committee members.

Moreover, our report reveals that 46% of marketers utilise AI for campaign personalisation and customisation, indicating a gap in realising the full potential of personalised marketing. AI's analytical capabilities enable the examination of vast datasets to fine-tune messaging, content, and interactions—all on a grand scale.

This data-driven approach ensures that each interaction is tailored 
to the unique needs and interests of individual accounts and buying committees, thus delivering a seamless and highly personalised experience that significantly enhances the likelihood of conversion and long-term loyalty.

How do you foresee AI being used to improve your
revenue and demand performance over the next 12 months?

Providing a personalised and memorable brand experience, central to ABX, is the key to success. In a time when 84% of B2B customers consider client experience an important factor in their decision-making process, and 74% are willing to pay more for it, it is crucial to explore how User Experience (UX) and Client Experience (CX) can work together to create a seamless, impactful brand engagement with targeted accounts.

ABX revolves around tailoring marketing and sales efforts to address the specific needs and preferences of high-potential accounts whilst delivering a holistic, exceptional experience. This is where brand experience plays a pivotal role:

Incorporating ABX into a GTM model involves a strategic approach that spans various stages from foundation to growth and should always consider the size of the organisation and the resources available.

Here are five actionable steps to implement ABX into your GTM strategy: