In the past year, a massive rise in conversation around Account-Based Marketing (ABM) has flooded business leaders in every department and industry. In addition to wondering how to capitalize on this critical trend, some of you may be wondering, “Why now?”
Most B2B marketers know that ABM finds its roots in the 1990s, when it was an analog tactic—used only in a localized capacity to target around 50 to 100 accounts. The ABM that everyone is talking about today is similar to its predecessor from a philosophical standpoint, but is quite different both in application and in its potential to deliver broad, impactful results.
Thanks to advances in marketing technology, marketers using ABM can now target over 1000 accounts. As ABM gains headway as its own category, it brings with it the promise of delivering a seamless buyer’s journey, one that is personalized from start to finish.
Organizations are quickly realizing the benefits and infinite possibilities that stem from adopting an ABM approach. A recent report from SiriusDecisions argues that more than 60 percent of companies surveyed plan to invest in ABM-specific technology over the next 12 months. 85 percent of that investment is planned for account-based advertising and website personalization.
To keep up with this momentum, Demandbase has raised $30 million in growth equity financing. The funds will be used to further expand the ABM category and accelerate growth in the U.S. and abroad.
“We already see customers spending 10X more on ABM than they spend on Marketing Automation tools, and the category will continue to explode over the next several years,” said Chris Golec, CEO of Demandbase. “The additional $30 million investment will allow us to capitalize on this market trend faster and commercialize several ground-breaking innovations in ABM to help keep our customers ahead of their competition.”
We’re excited to continue leading the charge forward on ABM and thanks to our latest round of funding, we expect even more accelerated growth in the coming year. To learn more about the future of ABM, check out our latest funding announcement.