Stats that Drive our ABM POV
Vendors who practice lead generation are missing out on key opportunities in the modern B2B purchase journey. Here’s how we see it:
What drove our point of view on ABM? Find some of the key stats below.
The B2B Purchase Journey has Large Buying Groups: 6.8 stakeholders per B2B purchase (CEB, now Gartner).
It’s Largely Anonymous: 57% of the purchase journey is anonymous. (CEB, now Gartner)
Early Signals Live on Vendor Websites: When Triblio conducted research on hundreds of thousands of form fills on client sites. We found that 45% have already spent 90+ days on the vendor’s website.
The supplier’s website, utilized by 83% of respondents, is the most popular channel for conducting research online. Google came in second at 77% (Accenture). The top 2 interactions early in the purchase journey are live webinars and live chats. Later on, when buyers are past the education phase, they dive into specific solutions and vendors through dialogue with sales and executive briefings (SiriusDecision).
Buyers Consult Multiple Sources of Information: B2B buyers consult on average 6 different channels (McKinsey). More than half view at least eight pieces of content during the purchase process (BCG).
What are the top 3 assets at each purchase stage? (SiriusDecisions)
Education 1. Podcasts 2. Analyst Reports 3. Articles/publications
Solution 1. Infographics 2. E-books 3. Blog posts
Selection 1. Infographics 2. ROI/TCO tools 3. 3-D mailers
More Opportunities are Closed with ABM: The majority of survey participants noticed more than a 20% difference in closed deals from qualified opportunities for ABM accounts vs. non-ABM accounts (SiriusDecisions).
How Many Sales Leads Do You Need?
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More budget is being Allocated to ABM: 52% spent more than 1/3 marketing budget on ABM in 2017, up from 16% in 2016 (SiriusDecisions).
To learn more about our POV, check out our newest ABM Guide.
This blog originally appeared on Triblio.com.
Citations
CEB, now Gartner, “The New Sales Imperative,” Harvard Business Review, Mar-Apr 2017 issue
SiriusDecisions, “State of ABM Study Findings,” 2017
McKinsey, “Do you really understand how your business customers buy?,” McKinsey Quarterly, Feb 2015
BCG, “How Digital Leaders Are Transforming B2B Marketing,” Apr 2017
Accenture, “2014 State of B2B Procurement Study,” Accenture Interactive – Point of View Series, 2014
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Great article Susan. Very helpful for those who are starting or already involved in account based marketing. As the Sirius Decisions statistics show, spending and attention on ABM is growing rapidly.