B2B marketers are finally getting a handle on some big digital challenges.
That’s the message from DemandWave’s recently released 2017 State of B2B Digital Marketing. The research shows that the quality of sales leads is marketers’ top priority. That ousted last year’s biggest hurdle of measuring and proving ROI.
Perhaps one of the reasons for the shift in challenges comes from B2B marketers’ ability to better measure their work. Greater adoption of attribution models, especially across channels, may be easing some pressure.
Here’s an overview of the research and where your fellow B2B marketers are investing –
B2B budgeting trends
Confidence in digital channels remains strong. Nearly half of marketers plan to increase their digital marketing budget this year. Less than 6% expect a decrease in budget.
When it comes to budget commitment, confidence in digital is getting stronger. Thirty-eight percent of marketers spend 60 percent or more of their budget online, compared with offline investments. In fact, over half (55%) dedicated 41% or more of their marketing spend to digital channels.
Looking ahead at 2017, B2B marketers plan to increase their investment in paid search. That’s the second year in a row and edges out attention to social media. Budgets for other channels stayed relatively the same with the exception of display advertising. While the report recommends that B2B marketers reconsider this for 2017 budgets, I disagree. Interruption marketing – even in B2B – should be put to bed. Instead, invest in higher-quality content that will drive higher-quality leads. This addresses the biggest challenges B2B marketers face.
B2B marketing mix
For executives who still question whether or not they should invest in social media, here’s ammunition for marketers. Ninety-five percent of B2B marketers are using social media as part of their digital marketing mix. While the C-suite may still scoff, they’ll do so while being left in the dust by competitors who understand this is the way to connect with bigger and broader audiences.
Now we get to one of the most important questions in the research – which channels drive revenue. Many experts claim that email is dead, but that’s certainly not the case. Email and organic search tied for the top spot. This research reinforces the need not only for a strong email program but for a content strategy and execution to back it up.
Top content marketing tactics
Blogs and videos tied for the top spot of the content types produced, coming in at 82%. The attention to blogs may go hand-in-hand, at least in part, with an increased focus on search. Having high-quality, relevant, timely serial content helps bring in an audience looking for answers to their questions. Videos top ranking could reflect the ability of marketers to become more agile in content creation. Perhaps B2B marketers realize they no longer need to limit themselves to the high-dollar production costs of talking head videos. Instead, creating more in-the-moment video with cell phones and other inexpensive equipment can deliver more authentic and trusted content.
White papers, the legacy pillar of B2B content, ranked third at 73%. However, respondents still noted that this is the top tactic for driving leads and revenue. Case studies and infographics were popular approaches for types of content produced, and for driving leads and revenue.
We need to be careful with these numbers and keep in mind lead attribution. White papers, webinars and case studies may be the top tactics for driving leads, but it may be the blogs, videos and infographics that captured people’s attention and answered their questions earlier in the process. The last touch type of content doesn’t mean that’s where we should weight our investment.
When it comes to adopting ABM, B2B marketers have room to go. Only 37% have adopted it and of those, only 42% believe their strategy is effective. This could tie back to ABM as a new approach and marketers feeling unsure of how to measure its impact. However, those using this framework, 46% say they can attribute revenue to their strategy. Certainly, like search and overall ROI, as B2B marketers become more adept at ABM and the technologies behind it, their sophistication with measurement will also increase.
B2B marketers are making great headway in areas with which they’ve long struggled. Measurement, attribution and lead-to-revenue are easier to pinpoint. We do, however, need to be open to shifting where we invest budget and look at search and mobile as new or greater testing grounds. We need to reconsider our love affair with technology and not spend money in adding more to the stack without a strategy for how everything connects and how to take full advantage of the software.
To read more about measurement, marketing technology, sales and marketing alignment, mobile investments and dig deeper into the research numbers across the board, download the full report.
Photo credit: Flickr user Support PDX
About Carla Johnson
Carla is a world-renowned storyteller, an entertaining speaker, and a prolific author. Over the last two decades, Carla has helped architects and actuaries, executives and volunteers, innovators and visionaries leverage the art of storytelling to inspire action through amazing experiences. Her work with Fortune 500 brands set the stage for the latest of her seven books. Experiences: The 7th Era of Marketing sets the benchmark for a powerful new way for marketing to create value for businesses. Named one of the top 50 women in marketing and the chair of the ANA’s Business Marketing Association, Carla regularly challenges conventional thinking. Today, Carla travels the world teaching anyone (and everyone) how to cultivate idea-driven teams that breed unstoppable creativity and game-changing innovation. Dig deeper at Type A Communications.