Account-Based Technology: Key Trends and Takeaways
Account-Based Technology is a market that has grown significantly in the past two years. Marketers are planning to broadly adopt data and technology tools that support Account-Based, and for good reason: today’s solutions are making Account-Based more scalable than ever before. Yet many marketing organizations are still in the early stages of their Account-Based journey.
TOPO’s recently published Account-Based Technology Report underscores our recommendation that technology investments need to support a well-defined go-to-market strategy. In fact, organizations investing in solutions specific to their Account-Based initiatives report fewer technology challenges overall. To access the report, email email@example.com.
Account-Based Technology Investment Trends
It is clear that Account-Based technologies are increasing in popularity and number, but adoption has not necessarily been growing at the same rate.
Account-Based technology investments are surging – the average investment is expected to increase 28% in 2018. Organizations are moving rapidly to adopt Account-Based strategies and implement Account-Based technologies. Today adoption rates are under 60% in many categories. However, respondents plan to expand investments significantly, with even the least-used categories projected to reach nearly 70% usage.
The Account-Based investment will continue to grow rapidly over the next 3 years as more organizations adopt Account-Based and prove success. Organizations exceeding their objectives are planning to purchase significantly more technology than those that are meeting or lagging their Account-Based objectives. With companies running Account-Based for more than 12 months significantly more likely to report results exceeding objectives, we expect to see investments in Account-Based continue to grow significantly.
Technology investments are changing quickly, with 80% of organizations planning to purchase new solutions in 4 or more categories this year. Successfully integrating the evolving technology stack, already a top challenge for 39% of organizations, will continue to keep many organizations from realizing the full benefit they expect from their Account-Based technology investments.
Account-Based Technology Platform
When it comes to getting started with Account-Based, TOPO has seen several technologies become gateway tools for beginning ABM Tech Stacks, and others that will lead the charge for integration of multiple Account-Based technologies into one platform for companies who are more advanced on their Account-Based strategies.
Account-Based platforms will become the hub for integration across account-based execution solutions. However, initial Account-Based platforms will come in part from point solution providers in data or advertising. The full benefit, and adoption, will not be realized until they allow broad integration of competing best-of-breed solutions.
Account-Based platforms also address key measurement challenges. By centralizing targeting account data and orchestration management, Account-Based platforms will have the data needed to provide key elements of Account-Based measurement.
Lead-to-account matching is table-stakes for Account-Based infrastructure. One of the original solutions in the tech stack continues to be seen as a very important solution by 80% of respondents. This will continue to be a critical solution as more organizations adopt Account-Based and realize their CRM is not structured to support their new requirements.
Advertising continues to be the Account-Based “gateway” application. Advertising has emerged as one of the first Account-Based executions many organizations deploy. While it is a common starting point, relatively low satisfaction with advertising reflects in part the fact many organizations adopt Account-Based advertising before effectively establishing an overall Account-Based strategy.
Our findings show that while marketers are planning to broadly adopt data and technology that supports Account-Based, many organizations are still in the early stages of their Account-Based journey. As a result, they are currently making limited investments in these technology and data solutions. The key is to establish strategy and then build the tech stack in support of the strategy. Invest in phases, starting with smaller programs that require less technology, and add solutions over time.
These are just some of the findings from TOPO’s Account-Based Technology Report. To access the full report, contact firstname.lastname@example.org.