B2B Marketing Trends 2023: Insights from Demand Spring’s Report
B2B Marketing Trends 2023 as studied by Demand Spring’s 6th annual Revenue Marketing B2B Benchmark Report holds critical insights. According to this report, a solid 85% of B2B marketers believe that their revenue-focused marketing goals are aligned with their business’s immediate and long-term objectives. Let’s delve into the key takeaways:
Conversion Rates: A Paramount Focus
Staying consistent with the previous year’s findings, the report reiterates the paramount importance of enhancing conversion rates. This vital objective stands as the linchpin for revenue marketing. A striking 97% of surveyed B2B marketers are well-versed in the concept of “revenue marketing.” Among them, a significant 65% rate their revenue marketing proficiency as “moderate” or “very mature.” Remarkably, about 66% of these marketers prioritize the improvement of lead-to-account conversion rates. Achieving this objective involves refining lead quality, nurturing, pipeline analysis, and effectively discerning lead-to-pipeline conversions.
Demand Generation: Targeting New Customers
A parallel priority, clocking in at about 64% among respondents, revolves around generating demand to attract fresh customers. Complementary insights from a prior Activate study underscore that a substantial 75% of B2B demand generation marketers foresee the need to engage buyers even before they enter the market.
Measuring Impact: A Need for Precision
The need for better reporting on marketing results was up, with 62% of respondents highlighting this as a priority. Notably, aligning content throughout the customer lifecycle (49%) and optimizing the marketing technology stack (47%) closely trail behind in significance.
B2B Marketing Trends 2023: Obstacles and Alignment Challenges
Despite these ambitions, several hurdles come into play. The most significant roadblock to revenue marketing success is the alignment between marketing and sales, as noted by 38% of respondents. An earlier study highlights that incongruities in metrics or key performance indicators (KPIs) for success measurement, along with inadequate training or resources for sales teams, are the primary gaps in marketing and sales alignment.
Metrics and Marketing’s Role in Pipeline and Sales
Revenue sourced remains the dominant metric for evaluating B2B organizations, validating marketing’s ascent as a growth and revenue driver. A striking 75% of respondents shoulder the responsibility for initiating pipeline, marking an impressive rise from previous years. Among them, 30% strive for a substantial influence on the sales pipeline, with the majority managing 25-50% of the pipeline.
Positive Outcomes and Insights on Tech Stacks
Encouragingly, nearly three-quarters (73%) declare they’re hitting their targets. However, a mere 12% can effectively demonstrate marketing’s contribution across all revenue marketing investments.
On the tech front, most marketers (47%) employ 4-6 tools, while 17% employ at least 7 tools. Common marketing automation platform capabilities include lead source and campaign tracking (55%), lead scoring (54%), and lead nurturing (54%). Artificial intelligence (AI) also plays a significant role, notably in predictive modeling, content creation, conversational marketing, and data intelligence.
B2B Marketing Trends 2023: ABM Strategies and ROI
Around 66% of participants are actively implementing account-based marketing (ABM) programs. The favored approach is one-to-few ABM. Furthermore, two-thirds are witnessing returns on investment (ROI) from their ABM endeavors, with pipeline generation and/or influence being the key metric.
Conclusion: Comprehensive Insights
These insights are founded on a comprehensive survey of 100 B2B marketers, located in North America. It seems that most marketers are focusing on revenue generating campaigns and maximizing ROI with a possible recession on the horizon.