Account-Based Marketing Market Overview
By recognizing high-quality target accounts through implementing personalized marketing strategies, account-based marketing software restores sales and marketing departments away from complete lead generation and branding strategies.
Account-based marketing software offers tools to decrease and automate the widespread process to develop proper accounts by recognizing prospects. The tool recognizes prospects and offers the right assets for the development of accounts.
This tool allows users to customer lifetime value, create highly skilled leads, build additional opportunities for in-pipeline accounts, and craft personalized buying journeys. Account-based marketing software supports users to combine prospect data with real-time customer experience technologies. This enables in facilitating an account-based market strategy. Therefore, it is easier to bring into line sales and marketing teams to achieve enterprise goals.
The account-based marketing market is gaining huge traction as it provides new ways for B2B marketers to achieve strategic customer engagement. Account-based marketing has a major role in enhancing the business within current customer accounts.
In situations with slow initial sales, it is observed that account-based marketing software enhances the long-term value of the customers. Additionally, account-based marketing allows helps in implementing crucial prospect accounts for the first sale. Many market players are majorly investing in the adoption of account-based marketing software. This, in turn, will catapult the growth of the account-based marketing market globally.
Impact of COVID-19 Pandemic Outbreak on Account-based Marketing Market
Traditionally, account-based marketing solutions equated with small number of prospects, whereas modern account-based marketing platforms enable users to drive engagement at a scale that is more important in the time of COVID-19 outbreak.
Such solutions helps enterprises to personalize account-based marketing programs with new capabilities, helping them respond quickly to disruptive conditions in the pandemic outbreak. In addition, due to the coronavirus, recent dramatic shift to online marketing campaigns of users is observed.
Thus as per the current market situation, the need for account-based marketing solutions is expected to grow and is anticipated to be driven by sales department. The account-based marketing market is expected to grow by 15%, during this pandemic outbreak.
Account-Based Marketing Market: Drivers and Restraints
Rising Adoption of Account-Based Marketing Continues To Flourish With Growing Demand from IT and Telecom Industry
Due to growing number of subscribers creating large volumes of data, the IT and telecom industry is witnessing a significant growth. Moreover, market players are increasingly adopting account-based marketing in order to support their customers with better IT solutions and services.
Collectively, these factors are triggering the demand for account-based marketing in the global marketplace. In recent times, most major players adopt account-based marketing software and services to comprehend customer behavior with the help of big data.
This tool helps them to leverage new data capabilities for the clients in several sectors; particularly in public sector this shows enhanced interest in targeting specific job functions. By choosing this real-time software, there are more chances of higher return on investment (ROI), without wasting any resources. Additionally, account-based marketing tool is automated that can easily run several marketing campaigns without much of management efforts.
High Investment Cost To Restrain the Account-Based Marketing Market Growth
The execution of account-based marketing software needs a substantial investment of time and resources. Moreover, there is an exclusive buy-in phase for the software. As a result, these attributes are likely to continuously hinder the growth of the account-based marketing market. Therefore, the vendors need to create the right content and choose right account to nurture those accounts.
Account-Based Marketing Market: Competition Landscape
Examples of some of the market participants in the global account-based marketing market identified across the value chain include
- 6Sense Insights Inc.
- AdDaptive Intelligence Inc.
- HubSpot Inc.
- Radius Intelligence Inc.
- CELSIUS GKK INTERNATIONAL
- Albacross Nordic AB
Following are some key strategies and developments in the global account-based marketing market:
- For instance, in June 2019, Adobe introduced a new service called ABM Essentials for account-based experiences. This platform is meant to simplify data, services, technology and improve collaboration between B2B marketers and sales team.
Account-Based Marketing Market: Regional Outlook
North America will continue to lead the global market share over the forecast period. Due to the rise in the adoption of cloud solutions in the region, North America will hold major market value. This tool helps in the robotization of marketing potential in nations such as the U.S and U.K. Owing to this; vendors are potentially investing in the account-based marketing market.
The account-based marketing market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The market report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on
- Account-Based Marketing Market Segments
- Account-Based Marketing Market Dynamics
- Account-Based Marketing Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Technology Landscape
- Value Chain of the Market
- Market Drivers and Restraints
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Rest of Latin America)
- Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX, Russia, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia and Pacific (India, Malaysia, Indonesia, Singapore, Australia & New Zealand, Rest of South Asia and Pacific)
- Middle East and Africa (GCC Countries, Turkey, Northern Africa, South Africa, Rest of MEA)
Account-Based Marketing Market Segmentation
The account-based marketing market can be segmented on the basis of account type, component, deployment, organisation size and region.
- Strategic account-based marketing
- Account-based marketing Lite
- Programmatic account-based marketing
- Small and medium enterprises
- Large enterprises