Account Based Marketing Quiz: Trivia Test!

1. Which one of these is NOT a characteristic of account-based marketing?

Use of a process or rationale for selecting target accounts

Development of account profiles

Development of marketing plans for target accounts

The ability to use less content

Content is still king, and this doesn’t change with ABM. As you may already know, it is getting more important every day -- search engines are focusing more on the content you create as the potential of the online world as a marketing tool becomes apparent. Now there’s a push to create current, relevant content that you can use to promote your business' products and services.

Explanation

Content is still king, and this doesn’t change with ABM. As you may already know, it is getting more important every day -- search engines are focusing more on the content you create as the potential of the online world as a marketing tool becomes apparent. Now there’s a push to create current, relevant content that you can use to promote your business' products and services.

2. Now that you've segmented your data, what is the next step?

Attend every webinar, conference and meet-up about ABM.

Spend an exorbitant amount of money to have someone else get your team in check.

Purchase every piece of ABM technology you can find.

Align your sales and marketing teams.

According to the 2016 survey data, 60% of companies practicing account-based marketing report that their sales and marketing teams are "somewhat" or "tightly" aligned, compared to only 34% in 2015.

Explanation

According to the 2016 survey data, 60% of companies practicing account-based marketing report that their sales and marketing teams are "somewhat" or "tightly" aligned, compared to only 34% in 2015.

3. How do you define ABM?

All of the above

Account-based marketing can be defined in a number of ways. However, it is imperative to understand the core concept: a strategic approach to marketing that focuses on specific accounts.

Explanation

Account-based marketing can be defined in a number of ways. However, it is imperative to understand the core concept: a strategic approach to marketing that focuses on specific accounts.

4. After you've assessed your current data set, what's next?

Conduct an employee data boot camp

Segment your current data state.

Add more data to your current solution

Hire more data scientists and analysts

Without using some thoughtful engineering to really segment your data into smaller groups for an “actionable universe,” you’re not practicing ABM – you’re just doing regular marketing. In an account-based marketing segmentation strategy, segments should be built around account data such as industry type, company size, company revenue, number of employees, etc.

Explanation

Without using some thoughtful engineering to really segment your data into smaller groups for an “actionable universe,” you’re not practicing ABM – you’re just doing regular marketing. In an account-based marketing segmentation strategy, segments should be built around account data such as industry type, company size, company revenue, number of employees, etc.

5. Which one of these does NOT describe what marketers aim to achieve with ABM?

Revenue generation

Customer retention

Pipeline acceleration

Sales and marketing alignment

None of the above

A benchmark study conducted by FlipMyFunnel in conjunction with six martech companies found that revenue generation was the most popular reason given (by 25% of marketers surveyed) for adopting account-based marketing. But they also cited a variety of other goals, including pipeline acceleration (22%), lead generation (20%), sales and marketing alignment (17%), customer retention (10%) and product adoption (5%).

Explanation

A benchmark study conducted by FlipMyFunnel in conjunction with six martech companies found that revenue generation was the most popular reason given (by 25% of marketers surveyed) for adopting account-based marketing. But they also cited a variety of other goals, including pipeline acceleration (22%), lead generation (20%), sales and marketing alignment (17%), customer retention (10%) and product adoption (5%).

6. What is the primary factor holding teams back from implementing ABM?

The need for cleansed and accurate data

The need for new technology

The need for more data

The need for more money

Assess your data first and make sure it’s accurate, cleansed, and current. Last year, SiriusDecisions found that 60 percent of marketers consider the overall health of their data as unreliable. Take a look at your current data set before you go crazy with new data.

Explanation

Assess your data first and make sure it’s accurate, cleansed, and current. Last year, SiriusDecisions found that 60 percent of marketers consider the overall health of their data as unreliable. Take a look at your current data set before you go crazy with new data.

7. What percentage of companies think ABM is useful?

15%

43%

92%

77%

A 2015 survey by Sirius Decisions found that 92 percent of companies recognize the value in ABM. This is not just a fad. It’s a real solution to B2B marketing challenges.

Explanation

A 2015 survey by Sirius Decisions found that 92 percent of companies recognize the value in ABM. This is not just a fad. It’s a real solution to B2B marketing challenges.

8. What is the next step after-sales alignment?

Immediately start reaching out to new targets.

Conduct deep account and market research.

Check the box: sales and marketing met, so you are good to go.

All of the above.

Time to roll up your sleeves and start researching. Once you’ve segmented your data, you need to align with sales around target accounts in those segments. These accounts can be existing customers or new prospects, but regardless, make sure you do your due diligence. Of those companies SiriusDecisions surveyed that are practicing account-based marketing, sales helps marketing determine target accounts 83% of the time.

Explanation

Time to roll up your sleeves and start researching. Once you’ve segmented your data, you need to align with sales around target accounts in those segments. These accounts can be existing customers or new prospects, but regardless, make sure you do your due diligence. Of those companies SiriusDecisions surveyed that are practicing account-based marketing, sales helps marketing determine target accounts 83% of the time.

9. What percentage of B2B companies have a full account-based marketing program in place?

20%

13%

41%

52%

Though 20 percent of respondents to the 2015 SiriusDecisions survey said they had a full ABM strategy in place, by 2016 that number had grown to 41%, indicating a dramatic growth rate for the practice. Additionally, the research firm found that in 2016, "more than 70 percent of B2B companies have staff that are fully or partially dedicated to driving ABM-specific programs," and "58 percent have a pilot or test program."

Explanation

Though 20 percent of respondents to the 2015 SiriusDecisions survey said they had a full ABM strategy in place, by 2016 that number had grown to 41%, indicating a dramatic growth rate for the practice. Additionally, the research firm found that in 2016, "more than 70 percent of B2B companies have staff that are fully or partially dedicated to driving ABM-specific programs," and "58 percent have a pilot or test program."