PRWeb | April 26, 2023
Integrate, the leader in B2B Precision Demand Marketing (PDM), today announced new research on “The State of B2B Marketing Budgets 2023” that reveals how marketing budgets, priorities, and sentiments have changed in the past six months. The report found that nearly 50% of B2B marketers cite the difficulty of using data to inform decisions and measure performance as the biggest challenge, suggesting an increasing need for marketers to “defend the spend” to finance departments and C-level executives. As a result, nearly 90% of marketers surveyed report that data compliance and accuracy is a priority at their company. This study is follow-on research from “The State of B2B Marketing Budgets 2022” and was conducted with global research and advisory firm, Demand Metric.
“Today’s B2B marketers are in the unenviable position of making the unpredictable predictable in an uncertain market, and that means recalibrating everything from their goals to their focus,” said Colby Cavanaugh, SVP, Marketing at Integrate. “This research suggests that today’s marketers are incredibly resilient, and they’re adapting by being flexible and leveraging both what they know works and investing in creative new solutions to drive pipeline.”
With rising interest rates, bank failures, and other economic headwinds looming, many B2B companies are hedging their bets and tightening budgets, forcing marketers to do more with less. In fact, the next biggest challenges the survey found include headcount cuts (40%), increasing growth targets (39%), and budget cuts (38%).
What’s more, 66% of respondents report that they are experiencing burnout as a result of additional economic stressors.
Interestingly, despite these challenges, 72% say their marketing team will meet or exceed goals in 2023. Meanwhile, 84% of marketers surveyed report having a neutral to optimistic outlook for the remainder of 2023, up slightly as compared to 80% six months ago.
To adapt to these shifting tides, “The State of B2B Marketing Budgets 2023” survey found that 57% of B2B marketers are optimizing for growth in 2023 by leveraging customer marketing (upsell/cross-sell); 42% are building team skills and adding new competencies; and 36% are investing in existing verticals or markets.
They are also cutting travel budgets (46%), consolidating teams/job responsibilities (41%), and relying more on contractors (36%) and agencies (34%).
The top three areas marketers plan to invest more in include customer marketing, content creation/strategy, and sales enablement.
As for budget spend for specific marketing disciplines, the survey found that about 40% of marketers are spending about the same on ABM, communications, content, demand generation, field/event marketing, marketing operations, product marketing, and sales enablement. This is in contrast to the 2022 results, which reported starker changes to planned budget investments with nearly 50% planning to invest more in digital marketing, content creation, and customer marketing, while 53% planned to spend less on ABM. Today, the areas marketers are investing more in include customer marketing (38%), marketing operations/technology (37%), and product marketing/strategy (36%). Conversely, marketers are investing less in ABM (25%), communications (24%), and demand generation (22%).
The survey results find that two-thirds of marketers (67%) are satisfied with their current marketing approach and 64% are satisfied with their martech stack. However, there is always room for improvement as 80% report evaluating their martech stack on a continual basis and 77% report redundancies in their martech stack.
“These survey results indicate that despite economic challenges, B2B marketers are forging ahead and making do with the resources they have with a focus on their customer,” said John Follett, Co-Founder, CXO & Head of Research at Demand Metric. “They’re overworked but optimistic and are in the greatest need of accurate and connected data to better understand their buyer, guide their decisions, and defend their spend in difficult times.”
"The State of B2B Marketing Budgets 2023" report was fielded in March 2023 to 524 respondents across the U.S. and UK. Download the full report here or read a recap of the results in our blog, "Marketing Spend Infographic: 2023 State of B2B Marketing Budget Survey.
Integrate connects, governs, and measures marketing campaigns across demand channels. This enables marketers to launch cross-channel buyer experiences, ensure data integrity, measure the impact of their programs, and inform the next best investments. Integrate works with high-growth and enterprise organizations like Salesforce, Microsoft, Akamai, and Pluralsight to power their Precision Demand Marketing strategies. Today, Integrate’s Demand Acceleration Platform helps create more precise and personalized buying experiences that reach the right buyer with the right message at the right point in their buying journey, and ultimately convert more leads to revenue. For more information, please visit http://www.integrate.com or follow us on LinkedIn, Facebook,Twitter and Instagram.
Business Wire | April 28, 2023
Forrester (Nasdaq: FORR) is opening calls for nominations in Europe, the Middle East, and Africa (EMEA) for its B2B Return On Integration Honours and B2B Programmes Of The Year Awards to recognise B2B organisations with outstanding achievements in marketing, sales, and product functions resulting in growth. Honourees will be recognised at Forrester’s B2B Summit EMEA, being held in London, and digitally, 10–11 October 2023.
Nominations for both award categories are open to companies in EMEA with more than 1,000 employees. Forrester invites nominations from chief marketing officers, chief sales officers, chief product officers, and other marketing, sales, and product leaders.
The nomination criteria for Forrester’s two awards are as follows:
B2B Return On Integration (ROI) Honours. These awards showcase organisations that have achieved strong cross-functional alignment across marketing, sales, and product functions — the B2B growth engine — to improve company performance, deliver customer value, and drive revenue.
B2B Programmes Of The Year (POY) Awards. These awards recognise outstanding achievements within specific areas of marketing, sales, and product functions based on the successful implementation of research, frameworks, and best practices to improve functional performance. To apply, an organisation must demonstrate how it implemented a modern, revenue-focused strategy, process, or initiative to help the company grow.
Companies can review complete award nomination criteria and submit an entry here. The deadline to submit a nomination is June 5, 2023.
“We look forward to receiving nominations from EMEA companies for Forrester’s B2B ROI Honours and B2B POY Awards,” said Forrester Vice President and Research Director Paul Ferron. “These awards showcase businesses that have aligned their growth engine around customer value to drive better outcomes for customers — and tangible results for them.”
Forrester (Nasdaq: FORR) is one of the most influential research and advisory firms in the world. We help leaders across technology, customer experience, digital, marketing, sales, and product functions use customer obsession to accelerate growth. Through Forrester’s proprietary research, consulting, and events, leaders from around the globe are empowered to be bold at work — to navigate change and put their customers at the centre of their leadership, strategy, and operations. Our unique insights are grounded in annual surveys of more than 700,000 consumers, business leaders, and technology leaders worldwide; rigorous and objective research methodologies, including Forrester Wave™ evaluations; 100 million real-time feedback votes; and the shared wisdom of our clients. To learn more, visit Forrester.com.
ACCOUNT BASED DATA, TARGETED ACCOUNT STRATEGY
Globenewswire | March 28, 2023
DemandScience, a leading B2B demand generation company that makes marketing and sales easier by enabling organizations to find the right prospects faster and target in-market buyers, today announced the general availability of Klarity, the company’s next-generation self-service Sales Intelligence Tool for building, sharing and saving contact lists. Klarity’s Chrome Extension, easy-to-use interface, and email accuracy makes ‘one-click prospecting’ a reality for sales professionals.
“We are very excited about Klarity, and we’ll be using it all the time moving forward. It will be huge time saver for our sales leaders and our sales reps,” said Neelam Kadam, CEO at SalesDemand. “The user interface is incredibly easy, our team can build and share great prospecting lists of in-market buyers in minutes, and what blows us all away is being able to access our target audiences directly while using LinkedIn and importing company and contact information into our CRM with just one click.”
One of the biggest challenges facing B2B sellers today is being bogged down by manual work, with many reps spending more than two-thirds of their time struggling with inefficient processes and complicated tools. Klarity’s navigation is intuitive and built for sales and marketing professionals. Users can customize their dashboards to meet workflow needs and sales leaders can easily activate their teams with shared lists and monitor team activity in their dashboard.
“We developed Klarity because sales teams cannot afford to waste time, especially in today’s economy,” said Peter Cannone, Chair and CEO of DemandScience. “Klarity will save valuable time for sales leaders and reps, maximize ROI for our customers, and increase engagement with prospects. It is incredibly easy to use, delivers accurate data, and Klarity’s patent-pending technology automatically imports company and contact information into our customers’ CRMs with one click.”
Klarity’s accurate B2B Data is powered by the DemandScience Live Data Factory. Klarity users can build and target the right in-market prospects in minutes with DemandScience’s global B2B data containing more than 70 million contacts from 1.2 million companies.
The Live Data Factory uses DemandScience’s proprietary email verification and validation technology.
Records are enriched with four different sources of Intent Data covering 7,000 topics and Install Data for 7,000 technologies.
DemandScience’s Confirmed Connect technology prioritizes prospects who’ve responded to email or phone within 30, 60, or 90-days.
DemandScience is a leading B2B demand generation company that makes marketing and sales easier by enabling organizations to find the right prospects faster and target in-market buyers. The DemandScience Live Data Factory uses innovative technologies to deliver accurate data with relevant intent signals, helping organizations accelerate the buyers’ journey from top-of-funnel to conversion. Founded in 2012, DemandScience’s products, data and leads benefit more than 1,500 customers worldwide. With offices in 7 countries and 800+ employees, DemandScience is #5 on Fortune Magazine’s list of the best workplaces in advertising & marketing.