Must-Know Account-Based Marketing Trends That Will Rule in 2024

Oct 10, 2023
Contributor: Shubham Gupta

Discover future-shaping ABM trends and how software providers can capitalize on them to stay ahead of the curve.

Account-based marketing (ABM) is taking over the realm of marketing. In today's competitive B2B tech landscape, traditional marketing funnels are no longer enough to drive demand generation and software providers are adopting ABM to accelerate efficient growth. 

As acquisition managers, MarOps experts, or sales leaders, you might feel the pressure to optimize ABM programs—especially knowing that effective ABM strategies can increase pipeline conversion rates by 14%[1]. 

ABM offers significant promise in ROI, but the advent of new trends is quickly changing the paradigm in which businesses implement the program. The emergence of AI-driven tools, the use of intent data and precise funnel tracking enable hyper-personalization and better alignment between marketing and sales. 

Continue reading as we explore the most up-to-date trends in account-based marketing, offering actionable insights for short-term profitability and building long-lasting customer relationships.

Why is account-based marketing important?

By focusing on a select group of high-value accounts rather than a broad market, ABM enables marketing and sales teams to tailor messaging according to their needs and drive higher engagement across the buying journey. 

Why should you care about ABM? Let's start with some hard numbers: ABM provides a lift across several key sales metrics, including a 28% increase in overall account engagement and a 25% rise in the marketing-qualified lead (MQL) to sales-accepted lead (SAL) conversion rates[2]. 

Still wondering why ABM is crucial for your business? Let’s break it down further:

  • Higher ROI. When you pinpoint your efforts on high-value accounts, you reap greater returns on your investments.
  • Efficient use of resources: When marketing and sales align on specific accounts, you can optimize your resources (such as targeted ad spend, specialized content creation, and dedicated sales personnel), avoiding wasted marketing spend and seizing the timing of outreach efforts.
  • Accelerated sales cycle. By targeting high-intent accounts that match your ideal customer profile, you shorten the prospect-to-customer journey.
  • Better customer retention. Personalized content creates a stronger bond between your business and your clients, preventing churn and leading to increased customer loyalty.

Top 5 ABM trends to watch out for in 2024 and beyond

While navigating the ever-changing landscape of account-based marketing, don't merely adapt; seize the opportunity to lead. These emerging trends offer not just foresight but actionable strategies for excelling in ABM. Each trend is pivotal in elevating your account-based marketing initiatives and gaining a competitive edge. 
Trend No. 1: Fuel your ABM strategy with intent data

Targeting a specific set of accounts is what makes ABM effective, but how do you know which accounts are the right ones to target? Intent data.

Identifying best-fit, high-value companies can be a challenge because software buyers often bypass providers’ websites, spending half of their research time on independent third-party sources[3]. Intent data boosts visibility for ABM by detecting purchase activity across online sources buyers use to learn about software, including comparison sites such as Capterra, GetApp, and Software Advice.

Once you know who’s in-market, you can build audiences for your ABM campaigns with buyers from companies that are actually interested and more likely to convert.

But even if you're doing a great job at acquiring new customers using ABM and intent data, keeping an eye on potential customer churn is crucial. Intent data can help you identify customers at risk for attrition by signaling low content consumption or search activity for competitor solutions.
How can software providers capitalize on this trend?
 
  • Action step. When choosing your intent data provider, consider key factors such as data quality, quantity, relevance, ease of use, and cost to ensure it meets your business needs. Once you get your data recipe right, invest in an ABM platform for campaign orchestration. 
  • Quick win. Act on real-time intent data by creating targeted campaigns for high-value accounts. If a company is actively researching solutions like yours, it is the best time to reach out with personalized, compelling content that addresses their specific pain points.
  • Long-term gain. Consistently update and fine-tune your ABM strategy based on trends you observe in intent data over time. Adapt your messaging, targeting and channels (emails, social media, webinars and direct outreach) to continuously align with the changing needs and behaviors of your key accounts.

Also read: 5 Best Practices to Optimize Account-Based Marketing With Intent Data

 

Trend No. 2: Make every interaction count with hyperpersonalization

As ABM demands a laser-focused approach, generic messages no longer cut it. Hyper-personalization can help you substantially improve customer engagement and conversion rates. In the ABM context, personalization goes beyond just using a prospect's name in an email. It's about delivering value at every touchpoint based on deep insights into individual needs and pain points.
How can software providers capitalize on this trend?

 

  • Action step. Audit your current marketing campaigns to identify areas where personalization could be enhanced. Use the data you collect to prioritize which touchpoints (e.g., email campaigns, social media ads, customer support interactions) can most benefit from hyper-personalization.
  • Quick win. Leverage intent data to gain a deep understanding of your target accounts and adapt messages, offers, and content according to their behaviors and interactions. Even a well-placed personalized call-to-action can yield immediate improvement in engagement.
  • Long-term gain. Develop a culture of continuous learning and improvement around your personalization efforts in ABM. Use A/B testing and other analytics to refine your tactics, always aiming to make your communications as relevant as possible to individual accounts.

Also read: How to Personalize B2B Marketing Through Evolving Business Cycles

 

Trend No. 3: Use AI-driven tools for smarter ABM

As the saying goes, "Work smarter, not harder," and nothing embodies this more than incorporating AI-driven tools into your account-based marketing strategy. But we're not just talking about automating repetitive tasks. With the combination of intent data and AI, you can analyze vast amounts of data and identify patterns to drive efficient ABM campaigns. This intelligence empowers you to direct your resources more effectively and engage your target accounts more precisely.
How can software providers capitalize on this trend?

 

  • Action step. Evaluate the current landscape of AI-driven tools that are compatible with your ABM strategy. Look for those that offer advanced analytics, predictive modeling, and automated workflows to enhance your efforts.
  • Quick win. Experiment with AI-based solutions that provide immediate insights into buyer behavior or predictive lead scoring. This will allow you to swiftly adjust your ABM tactics and achieve better results in the short term.
  • Long-term gain. As AI technologies evolve, make a commitment to continuous education and upskilling within your marketing team. This ensures that you'll be ready to adopt newer, more effective AI-driven tools and methods as they become available.

Also read: New Integration: Buyer Discovery + 6sense

 

Trend No. 4: Bridge the gap with sales and marketing alignment

Account-based marketing is not a solo effort; it's a team endeavor. The seamless alignment between your sales and marketing teams is the key to transforming your ABM from good to great. Aligned teams work better by closing deals faster and contributing to revenue growth. 

In ABM, a closely collaborated effort ensures that both sales and marketing target the same high-value accounts and are synchronized in their engagement strategies.
How can software providers capitalize on this trend?

 

  • Action step. Initiate regular cross-departmental meetings with sales and marketing to review ABM campaigns and performance metrics. Businesses that prioritize alignment are nearly three times more likely to meet new customer acquisition goals[4].
  • Quick win. Create a shared dashboard accessible to both sales and marketing where real-time insights can be monitored. Increased visibility into the funnel can help sales reps engage accounts showing purchase intent in the low-funnel stage timely. 
  • Long-term gain. Implement a process to review and refine shared key performance indicators (KPIs) regularly. This practice will make it easier for both teams to understand their impact on each other's goals, fostering long-term alignment and contributing to revenue growth.

Also read: Sales Enablement With Buyer Discovery Intent Data

 

Trend No. 5: Optimize full-funnel metrics

Account-based marketing isn’t just about bringing potential clients into the funnel; it’s about guiding them through it most efficiently and effectively. In the past, ABM metrics often focused primarily on top-of-funnel marketing activities. 

The new directive? Assess ABM's impact across the full sales funnel to better grasp how your investment is paying off at each stage, from lead generation to closing deals. 

Consider collecting inputs from other cross-functional leaders (such as product managers, customer success managers, and finance directors) to identify metrics (including lead-to-customer conversion rates, average deal size, and customer lifetime value) that matter to them so you can work towards a 360-degree view of your ABM program performance. 

The graphic below illustrates various stakeholder use cases and the corresponding metrics they most value in an ABM program.
How can software providers capitalize on this trend?

 

  • Action step. Evaluate your current ABM tracking metrics to determine if they effectively cover all stages of the sales funnel (such as awareness, consideration, decision, and retention).
  • Quick win. Start tracking not just leads, but also how many turn into paying customers. This gives you a snapshot of how well your immediate efforts are working.
  • Long-term gain. Make it a habit to look at these metrics regularly. Use what you learn to make small changes to your strategy, aiming for better results over time.

Also read: 8 Key Metrics to Measure Success for Your ABM Strategy

 

Seize the ABM advantage for better growth

We've navigated through the game-changing trends in account-based marketing for 2024 and beyond — from embracing personalization and leveraging AI-driven tools to using intent data and optimizing full-funnel metrics for cross-functional teams. These trends aren't just the future; they're also the present. Ignoring them isn't an option if you're aiming for more efficient, successful ABM programs.

But remember, recognizing a trend is one thing; harnessing its power is another. Embrace these shifts and place your business on a trajectory for accelerated growth and deeper customer engagement.

Make a leap in your ABM journey with confidence and precision. Take the next step with Gartner Digital Markets’ intent data to effectively engage targets, unlock new deals, and extend customer lifetime value. 

 
Accelerate efficient growth with ABM

Accelerate Efficient Growth With ABM

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Shubham Gupta

Shubham Gupta is a Content Writer at Gartner Digital Markets who ideates and creates purpose-driven content to help modern technology businesses achieve their goals. Outside of work, he enjoys reading thriller novels and Urdu poetry, as well as spending time with his dog. Connect with Shubham on LinkedIn.
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