Benchmark Report: “B2B Continues Its Ascent”
By Don Goncalves, Sr. Vice President, Tiziani Whitmyre Inc.
Good news abounds in the just-released The B2B Marketing Benchmark report from LinkedIn and Ipsos.
The 86-page report details various topics of B2B interest, from budgets and outlook to CMOs and their marketing organizations to strategies from measurement to AI. Their findings are the result of surveying B2B leaders from eight countries.*
To start, the good news: B2B leaders are optimistic about the future, with around half expressing confidence in driving revenue in the coming year.
The even better news is: Their optimism is supported (or perhaps is fueled?) by increased marketing budgets this year and next.
The B2B marketers themselves say they’re leaning on their creativity and problem-solving skills to drive success — strengths they’ll need into the future. Moreover, the role of the CMO is evolving with increased importance placed on driving revenue and growth and increasing their place in the C-Suite. CMOs are actively building relationships across the C-suite as they involve others in B2B strategy decisions.
Meanwhile, organizations that increasingly recognize the importance of brand building are investing more in growing awareness as a critical element of a “full-funnel” focus. This approach prioritizes branding and demand generation, lead generation, and new business acquisition.
On other topics, in-person events remain the most effective B2B marketing channel, and B2B marketing leaders plan to increase their use. And while Generative AI is of hot interest, and marketers are eager to implement it in their efforts, less than 20% claim to understand how they’d employ the new technology.
And although nagging questions about global and economic instability continue, the report’s findings provide strong support: “B2B leaders are largely optimistic about the fate of their organizations and the role of marketing in helping them grow.”
We agree. Looking ahead to the second half of 2023 and 2024, we concur that “B2B continues its ascent.”
*The B2B Marketing Benchmark. A global look at the state of B2B Marketing. June 2023. LinkedIn, Ipsos.