Account-based marketing (ABM) software realigns sales and marketing departments away from overall branding and lead generation strategies by recognizing high-quality target accounts through the execution of a personalized marketing strategy. ABM software provides tools to automate and decrease the extensive process of recognizing prospects and offering the right assets to develop proper accounts. The software allow users to create highly skilled leads, increase customer lifetime value, craft personalized buying journeys, and build additional opportunities for in-pipeline accounts. ABM software enables users to combine prospect data with real-time customer experience technologies in order to facilitate an account-based marketing strategy. This allows organizations to align sales and marketing teams toward a firm’s goals. ABM tools can be utilized to obtain new accounts, support existing and promising accounts, and grow enterprise accounts.
Account-based marketing software market is gaining traction as it provides new ways for B2B marketers to manage strategic customer engagement. Account-based marketing plays a key role in enhancing business within prevailing customer accounts. In instances with slow initial sales, it is reported that account-based marketing provides an increase in the long-term value of the customer. ABM can also be implemented for crucial prospect accounts for the first sale. For instance, Northrop Grumman deployed ABM software to achieve the completion of a successful US$ 2 Bn deal. Thus, increase in demand for ABM by organizations to enable sales and marketing team to close more deals by targeting specific accounts is expected to drive the market during the forecast period.
However, the implementation of account based marketing tools requires substantial investment of resources and times. There is also an exclusive buy-in period for the software. These factors are expected to restrain the market during the forecast period. Vendors need to choose the right accounts to target, and they need to create the right content to nurture such accounts. These solutions enable sales and marketing alignment. When both teams are dedicated on the account level, it is easy to synchronize their qualification standards, messaging, and reporting practices.
The global account-based marketing software market can be segmented based on deployment, end-use industry, type, and region. Based on deployment, account-based marketing software market can be categorized into cloud and on premise. In terms of solution, account-based marketing software market can be classified into predictive sales analytics and sales intelligence, lead management and marketing automation, and content personalization and content marketing. Based on end-use industry, the market can be classified into automotive, IT & telecom, media & entertainment, and others.
In terms of region, the global account-based marketing software market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Account-based marketing software market in countries such as the U.K. and the U.S. is expected to expand at a rapid pace during the forecast period, due to a rise in the adoption of cloud solutions in these regions. Account-based marketing software market helps in the automation of marketing functions. It helps manage the large amount of publicly available data on customers and market trends through digitization. The ability for B2B marketers to implement ABM software is increasing exponentially.
Account-based marketing software market adapts demand generation and messaging for a definite set of accounts to confirm relevance and value for them and for their sales. Key players operating in the global account-based marketing software market include Terminus Software, Inc., mrp, Everstring, D&B Hoovers (Avention), EverString Limited, LeanData Lead2Account Matching Engine, Groove, Seismic, DEMANDBASE, INC., DataFox Inc., Marketo, Inc., Engagio Inc., and Radius Intelligence Inc.. Major players are executing several strategies such as partnerships, acquisitions, R&D investments, production innovation, and others in order to remain competitive in the market. For instance, in July 2016, Avention introduced advancements to its OneSource platform to drive sales and marketing efficiency.
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