{"id":4822,"date":"2022-10-28T14:23:45","date_gmt":"2022-10-28T14:23:45","guid":{"rendered":"https:\/\/realesta.co\/inprojects\/lbb\/blog\/?p=4822"},"modified":"2022-10-28T14:23:45","modified_gmt":"2022-10-28T14:23:45","slug":"how-bad-data-can-dampen-your-abm-strategy","status":"publish","type":"post","link":"https:\/\/realesta.co\/inprojects\/lbb\/blog\/how-bad-data-can-dampen-your-abm-strategy\/","title":{"rendered":"How Bad Data Can Dampen Your ABM Strategy"},"content":{"rendered":"<p>The rise of big data is fuelling ABM&#8217;s success over the past few years with its tailored marketing standards. About 60% of mainstream companies have adopted account-based marketing in recent years.<\/p>\n<p>And why wouldn\u2019t they?<\/p>\n<p>Statistics show that the ABM market is projected to reach $202.3 million by 2027 and 87% of marketers say that ABM outperforms other marketing activities. Here\u2019s how bad data affects your ABM strategy.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Poor_mapping_of_Ideal_Customer_Profile_ICP\"><\/span><strong>Poor mapping of Ideal Customer Profile (ICP)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-4825 size-full\" title=\"Poor mapping of Ideal Customer Profile\" src=\"https:\/\/realesta.co\/inprojects\/lbb\/blog\/wp-content\/uploads\/2022\/10\/Poor-mapping-of-Ideal-Customer-Profile.jpg\" alt=\"Poor mapping of Ideal Customer Profile\" width=\"750\" height=\"375\" srcset=\"https:\/\/realesta.co\/inprojects\/lbb\/blog\/wp-content\/uploads\/2022\/10\/Poor-mapping-of-Ideal-Customer-Profile.jpg 750w, https:\/\/realesta.co\/inprojects\/lbb\/blog\/wp-content\/uploads\/2022\/10\/Poor-mapping-of-Ideal-Customer-Profile-300x150.jpg 300w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/p>\n<p>Accurate mapping is critical to understanding the decision-makers values and creating a buyer journey roadmap.<\/p>\n<ul>\n<li>81% of top-performing organizations have ICPs that represent their ideal accounts.<\/li>\n<li>Companies that have developed strong ICPs average a 68% higher account win rate.<\/li>\n<li>Research conducted by Accenture reveals &#8211; 75% of consumers are more likely to buy from a retailer that recognizes them by name, recommends options based on past purchases, or knows their purchase history.<\/li>\n<\/ul>\n<p><strong><em><u>Additional Read<\/u><\/em><\/strong><strong><em><u>: <a href=\"https:\/\/realesta.co\/inprojects\/lbb\/blog\/ideal-customer-profile-blueprint-a-step-by-step-guide\/\">The Ideal Customer Profile blueprint: A step by step guide<\/a><\/u><\/em><\/strong><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Incorrect_understanding_of_the_prospect\"><\/span><strong>Incorrect understanding of the prospect<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-4826 size-full\" title=\"Incorrect understanding of the prospect\" src=\"https:\/\/realesta.co\/inprojects\/lbb\/blog\/wp-content\/uploads\/2022\/10\/Incorrect-understanding-of-the-prospect.jpg\" alt=\"Incorrect understanding of the prospect\" width=\"750\" height=\"375\" srcset=\"https:\/\/realesta.co\/inprojects\/lbb\/blog\/wp-content\/uploads\/2022\/10\/Incorrect-understanding-of-the-prospect.jpg 750w, https:\/\/realesta.co\/inprojects\/lbb\/blog\/wp-content\/uploads\/2022\/10\/Incorrect-understanding-of-the-prospect-300x150.jpg 300w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/p>\n<p>Bad and inaccurate data acts like kryptonite for ABM campaigns. The wrong dataset can hinder an organization\u2019s understanding of its high-valued clients, wasting all the research, data, and time utilized.<\/p>\n<ul>\n<li>A study conducted by Open rise reveals that 24% of respondents lack confidence in their organization\u2019s data and keeping them up at night.<\/li>\n<li>That is why 88% of marketers use data obtained by third parties to enhance their understanding of the customers.<\/li>\n<\/ul>\n<p><strong><em><u>Additional Read:<\/u><\/em><\/strong><strong><em><u> <a href=\"https:\/\/realesta.co\/inprojects\/lbb\/blog\/think-about-good-data\/\">Change the Way You Think About Good Data<\/a><\/u><\/em><\/strong><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Wasting_resources_on_sales_and_marketing\"><\/span><strong>Wasting resources on sales and marketing<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-4827 size-full\" title=\"Wasting resources of sales and marketing\" src=\"https:\/\/realesta.co\/inprojects\/lbb\/blog\/wp-content\/uploads\/2022\/10\/Wasting-resources-of-sales-and-marketing.jpg\" alt=\"Wasting resources of sales and marketing\" width=\"750\" height=\"375\" srcset=\"https:\/\/realesta.co\/inprojects\/lbb\/blog\/wp-content\/uploads\/2022\/10\/Wasting-resources-of-sales-and-marketing.jpg 750w, https:\/\/realesta.co\/inprojects\/lbb\/blog\/wp-content\/uploads\/2022\/10\/Wasting-resources-of-sales-and-marketing-300x150.jpg 300w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/p>\n<p>According to a survey by Integrate, 40% of B2B generated leads are invalid and duplicate. Incorrect or poor data slows the momentum of the sales and marketing team.<\/p>\n<ul>\n<li>Bad leads waste around 27.3% of sales rep time.<\/li>\n<li>60% of global respondents in a LinkedIn survey believed that misalignment between Sales and Marketing could damage financial performance.<\/li>\n<li>Businesses with aligned sales and marketing teams experience\u00a036% higher customer retention.<\/li>\n<\/ul>\n<p><strong><em><u>Additional Read: <\/u><\/em><\/strong><strong><em><u><a href=\"https:\/\/realesta.co\/inprojects\/lbb\/blog\/8-pointer-checklist-to-jump-start-your-revenue\/\">Hack Top-line Growth with Seamless Sales and Marketing Alignment: Our 8-Pointer Checklist to jump-start your Revenue Growth!<\/a><\/u><\/em><\/strong><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>ABM strategies rely on personalized, high-quality, and tailored <a href=\"https:\/\/www.lakeb2b.com\/account-based-marketing-services\">account-based data<\/a> to conduct marketing campaigns. Poor and misinformed data affect the overall ROI and its basic mechanism.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The rise of big data is fuelling ABM&#8217;s success over the past few years with its tailored marketing standards. About 60% of mainstream companies have adopted account-based marketing in recent years. And why wouldn\u2019t they? Statistics show that the ABM market is projected to reach $202.3 million by 2027 and 87% of marketers say that [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":4823,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-4822","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-marketing"],"_links":{"self":[{"href":"https:\/\/realesta.co\/inprojects\/lbb\/blog\/wp-json\/wp\/v2\/posts\/4822","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/realesta.co\/inprojects\/lbb\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/realesta.co\/inprojects\/lbb\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/realesta.co\/inprojects\/lbb\/blog\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/realesta.co\/inprojects\/lbb\/blog\/wp-json\/wp\/v2\/comments?post=4822"}],"version-history":[{"count":0,"href":"https:\/\/realesta.co\/inprojects\/lbb\/blog\/wp-json\/wp\/v2\/posts\/4822\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/realesta.co\/inprojects\/lbb\/blog\/wp-json\/wp\/v2\/media\/4823"}],"wp:attachment":[{"href":"https:\/\/realesta.co\/inprojects\/lbb\/blog\/wp-json\/wp\/v2\/media?parent=4822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/realesta.co\/inprojects\/lbb\/blog\/wp-json\/wp\/v2\/categories?post=4822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/realesta.co\/inprojects\/lbb\/blog\/wp-json\/wp\/v2\/tags?post=4822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}