A fix on B2B digital marketing? What is working? Where is the budget going?

“In B2B, people don’t buy for pleasure. They buy to alleviate pain. Alleviating pain brings them pleasure.” – Tamara McCleary

After a hectic 2020 and years of falling behind B2C counterparts, B2B marketers have finally caught up with the challenging times with rapid, massive digital acceleration. Yet, will this digital marketing transformation stick in a post-pandemic world?

The 2021 State of B2B Digital Marketing, conducted by Wpromote and Ascend2, surveyed almost 260 B2B marketers to identify what they are prioritising and where B2B companies are still struggling. 

According to Mike Stone (Wpromote’s CRO), the report’s data backs up what they’ve been witnessing in the market – “the most successful B2B brands have recognized this as an opportunity and taken the initiative, building out mature digital strategies in record time and are now capitalizing on those 2020 gains.”

Report Key Findings

  • most important objectives for B2B digital marketers- 
    • increasing customer engagement – 50%
    • improving customer experience – 47%
    • improving brand awareness – 46%
    • increase web traffic – 33%
    • drive more leads – 32%
  • nearly 70% of B2B digital marketers expect their digital marketing budget to increase
  • big companies struggle to prioritise quality over quantity
  • 60% of B2B digital marketers state “wasted time” is the greatest cost associated with lead generation struggles
  • over 40% of B2B digital marketers  are not prepared for the death of third-party cookies
  • social media, content marketing and email are the most effective marketing channels for driving revenue
  • major barriers to B2B marketing success for companies generating under $10M – 
    • aligning marketing and sales – 37%
    • securing staff and budget – 36%
    • generating enough leads – 36%
  • major barriers to B2B marketing success for companies generating over $10M
    • producing quality content – 38%
    • improving the customer experience – 37%
    • delivering quality leads – 32%
  • the top 3 digital marketing trends surveyed B2B digital marketers prioritise are – 
    • new social platforms – 42%
    • virtual events – 34%
    • influence marketing – 30%
  • 35% of B2B digital marketers reported shifting from single-channel dependence to diverse marketing strategy

Email remains one of the top channels for driving B2B revenue. It also reigns supreme at both the top-of and bottom-of-funnel. 

To get a more detailed glimpse into the future of B2B digital marketing and identify the key trends in challenges, channels, marketing technology, budgets and much more, download the 2021 State of B2B Digital Marketing report here.

Final Thoughts

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Adi Angelova

Author Adi Angelova

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