Scaling Account-Based Marketing in Financial Services

Account-Based Marketing (ABM) is a powerful strategy for financial services firms looking to deepen client relationships and drive growth in a competitive, trust-driven industry. However, achieving long-term success requires scaling ABM effectively.

The Impact of ABM on Client Growth

ABM delivers tangible results where it matters most—expanding existing client relationships. According to our research, 34% of financial services (FS) marketers report growth in existing accounts due to ABM. In an industry where relationships develop over decades, this advantage is significant.

At a recent Momentum ITSMA roundtable in London, senior FS marketers discussed the challenges of embedding ABM as a strategic growth driver. They identified several key roadblocks:

Defining ABM: Misalignment within organizations creates confusion and inconsistent execution.
Measuring ROI: Many firms struggle to track ROI, making it difficult to secure future investment.
Resource Constraints: Lean teams often lack the bandwidth to scale beyond pilot programs.
Technology Gaps: Early-stage ABM efforts frequently lack the necessary tools and data integration.
Fragmented Efforts: Without centralized governance, ABM initiatives can become disjointed.

Our Global Account-Based Marketing Benchmark reveals that while 93% of FS marketers use ABM, many remain in the early stages, struggling to scale effectively.

Pitfalls in Scaling ABM

Despite initial pilot successes, expanding ABM presents challenges. Many firms rush to scale without addressing foundational issues, which can undermine long-term results. Common pitfalls include:

Lack of Sponsorship and Governance: Treating ABM as a short-term campaign rather than a strategic growth initiative limits success. Many firms lack executive sponsorship and clear accountability structures.
Flawed Account Selection: ABM thrives on precise targeting, yet many firms struggle with inconsistent selection criteria, leading to unfocused programs.
Sales and Marketing Misalignment: Sales teams often require stronger evidence of ABM’s impact. Without shared goals and clear processes, alignment suffers—53% of marketers in our ABM Benchmark cited this as a key barrier.

The Path to Best-in-Class ABM

Despite these challenges, FS firms are making significant strides in performance optimization and personalization. Our research shows:

36% of FS organizations report improved customer retention due to ABM.
36% of marketers cite stronger client engagement from personalized ABM initiatives.

To scale effectively, firms need a structured approach. The Momentum ITSMA ABM Adoption Framework provides a roadmap with four stages, seven foundational pillars, and 21 success factors. By following this framework, organizations can move from experimentation to best-in-class execution—turning ABM into a sustainable growth driver.