A new report has revealed that 50% of B2B marketers are failing to reach their 2024 targets. However, those who align closely with sales teams and adopt a Branded Demand approach – integrating content syndication and display advertising – are seeing a 60% higher success rate.
These findings come from the H2 2024 State of B2B Pipeline Growth report by Pipeline360, which highlighted the importance of collaboration between marketing and sales, as well as the use of cutting-edge technologies like generative AI (genAI). The report delves into key challenges facing B2B marketers, including economic pressures, team alignment, and evolving lead generation tactics.
A Challenging Year for B2B Marketing
The report, which surveyed 424 B2B marketers across the US and UK, identified the top three obstacles marketers face: budget and resource constraints (48%), economic slowdown (46%), and misalignment between sales and marketing teams (44%).
In response to these challenges, 62% of marketers are consolidating teams or job roles, while 39% are turning to AI or outsourcing to contractors and agencies. Despite these efforts, the struggle to achieve goals remains a critical issue for many B2B professionals.
The Power of Alignment
Marketers who report full alignment with their sales counterparts are faring significantly better. The survey revealed that 75% of aligned teams are reaching their goals, compared to 53% of B2B marketers overall. Additionally, these aligned teams are better at reaching their target buying groups (91% vs. 74%) and are more satisfied with the quality and quantity of their leads.
Tony Uphoff, president of Pipeline360, emphasised the importance of this alignment in today’s challenging environment. “The current B2B market is very competitive, and to succeed, marketers need to focus not just on best practices but also explore innovative solutions. The data shows that closer collaboration between sales and marketing teams is key to achieving better results.”
Embracing AI and New Technologies
The report also highlighted the increasing reliance on generative AI, with 85% of B2B marketers incorporating genAI into their strategies. Of those using AI, 76% expressed satisfaction with the results, suggesting that AI is becoming an essential tool for streamlining processes and enhancing performance.
Uphoff noted that AI and other new technologies are crucial for future success: “Marketers must embrace emerging solutions to create compelling brand experiences, generate demand, and build long-lasting customer relationships.”
Content Syndication and Display Advertising: A Missed Opportunity?
The survey found that while content syndication and display advertising can significantly enhance lead generation, many marketers are not fully leveraging these tools. For those using both tactics, 76% were able to meet lead generation goals, compared to just 50% overall. Satisfaction with the quality of leads also saw a marked improvement among those incorporating content syndication into their campaigns.
However, a surprising 35% of marketers cited poor lead quality as the reason for not using content syndication, despite the majority of users expressing satisfaction with its results.
Popular Channels for Lead Generation
The most popular channels for lead generation in 2024 include email marketing (63%), social media (61%), and influencer marketing (49%). Digital display advertising (47%) and content syndication (34%) were also prominent, although they lagged behind in terms of widespread adoption.
Uphoff added, “Our data suggests that a lack of alignment between sales and marketing often leads to underutilisation of these effective tools. To succeed, B2B marketers must invest in a Branded Demand approach that focuses on building awareness, generating high-quality leads, and driving tangible pipeline growth.”
Looking Forward
As B2B marketers continue to face economic pressures and shifting market dynamics, the key to success lies in better collaboration between sales and marketing teams, as well as the adoption of innovative tools and strategies like AI and content syndication. By moving away from siloed approaches and embracing a more integrated marketing strategy, businesses can better navigate the challenges of 2024 and beyond.
The H2 2024 State of B2B Pipeline Growth report offers valuable insights for marketers looking to refine their strategies and achieve long-term success in a rapidly evolving marketplace.
Reference: https://www.marketingtechnews.net/news/half-of-b2b-marketers-cant-reach-their-goals-for-this-year/
