2024 B2B marketing mix report | Sage frog
B2B Digital Marketing |
Who we surveyed
A winning combination: in-house & outsourced
Contrasting last year’s trend, this year showcases a shift towards a blended in-house and outsourced marketing strategy. Marketers acknowledge the advantages of leveraging external agencies to complement internal expertise. Outsourced marketing, whether standalone or hybrid, allows internal teams to concentrate on core competencies.
Agencies bring specialized skills, minimizing costs tied to maintaining extensive in-house teams. This collaboration fosters more effective campaigns, culminating in enhanced ROI.
Top marketing objectives for 2024
In 2024, brand awareness emerges as the paramount objective for B2B marketers, signaling a shift from the previous year. This shift underscores businesses’ recognition of the vital role in establishing and sustaining their brand. While lead generation and client retention remain crucial, a robust brand distinguishes a company in today’s competitive landscape, fostering trust, loyalty, and premium pricing.
It not only boosts marketing efficiency but also attracts top talent, supporting expansion and diversification. Brands with emotional resonance forge deep connections, offering a unique competitive edge and ensuring sustained success, a departure from the more immediate priorities of the past year.
More conservative marketing budgets
In 2024, marketing budget dynamics are evolving, as some businesses cautiously expand for growth while others cut back, possibly to balance cost control amid market uncertainties. Approximately a quarter of respondents maintain stable budgets, underscoring the significance of stability in 2024 planning.
Diverse financial strategies for third-party spending are evident among businesses. These distinct expenditure levels mirror how businesses utilize external services to bolster their operations and growth, aligning their financial plans with their individual needs and circumstances.
In-person tradeshows, once a top priority, have diminished in significance from the previous year. Digital strategies like directories, paid social media, and email marketing remains crucial, with a renewed interest in print advertisements. This suggests a potential resurgence of diversified marketing approaches. These shifts emphasize the significance of adaptability in responding to evolving consumer behaviors and economic conditions.
In-person and traditional tactics lead the way
In 2023, the effectiveness of organic search, SEM, and paid social in generating qualified leads declined, possibly due to heightened digital competition. Marketers are adjusting their strategies in response. Event marketing, directories, sponsorships, and print advertising have now taken precedence in lead generation.
The resurgence of tradeshows highlights a shift toward in-person engagement, emphasizing the growing importance of face-to-face interactions. Simultaneously, the reliance on directories, sponsorships, and print ads signifies a renewed interest in traditional avenues for lead generation.
This indicates that B2B marketers are embracing a balanced mix of marketing strategies to align with evolving market conditions and preferences.
The B2B event marketing comeback
Nearly four years post-pandemic onset, event marketing has staged a remarkable comeback. Safety concerns forced the event industry to adapt, but with the return to in-person gatherings, marketers acknowledge the irreplaceable depth of connection and engagement these events offer.
As revealed by the numbers, businesses are embracing traditional tactics, notably increasing investments in event marketing, directories, and sponsorships, reaping rewards from these enhanced efforts.
Survey respondents affirm that in-person events will remain vital for lead generation and brand building in 2024, emphasizing the enduring significance and resilience of event marketing in the post-pandemic landscape.
Harnessing the power of AI in B2B marketing
As we approach 2024, there is a noticeable uptick in B2B marketers embracing AI for content generation and enhancing presentations, underscoring a commitment to deliver more compelling and efficient materials to their audience.
Additionally, the focus on productivity improvements through automation and the growing role of AI-driven video content creation is poised to reshape B2B marketing strategies in the upcoming year, promising heightened engagement and efficiency.
While some maintain skepticism about AI, the majority leans towards optimism, with many marketers adopting a neutral stance. This diversity in viewpoints emphasizes the anticipation that AI will persist in redefining B2B marketing in 2024, introducing new opportunities and challenges.
The future of B2B marketing
Given the pivotal role of data in modern marketing, it’s logical that a standout priority for marketers in the upcoming year is an increased focus on enhanced assessment. Companies are also prioritizing short-term adaptability, introducing new products, and engaging content, while the sustained popularity of visual content and personalization (a top priority for two consecutive years) persists.
These trends collectively emphasize data-driven decision-making, customer-centric strategies, and a commitment to innovation and adaptability. The survey highlights the imperative for a comprehensive corporate marketing strategy as a well-defined roadmap to navigate the evolving landscape effectively.
Businesses are investing in tools and approaches to stay competitive, target their audience effectively, and drive growth. However, the persistent emphasis on video and personalization may suggest that some companies face challenges in achieving their objectives in these areas.
Top takeaways from this year’s report
• Strategize for in-person and virtual event marketing to boost brand visibility and leads
• Embrace traditional methods like print ads and refresh your marketing and sales materials
• Assess your brand recognition and make brand awareness a top priority
• Allocate funds for directory listings and sponsorship opportunities
• Reevaluate your marketing tools and tech, emphasizing AI and advanced reporting
The Table of Contents of “2024 b2b marketing mix report”:
- who we surveyed
- a winning combination: in-house & outsourced
- top marketing objectives for 2024
- more conservative marketing budgets
- in-person and traditional tactics lead the way
- The B2B event marketing comeback
- harnessing the power of AI in B2B marketing
- the future of b2b marketing
- top takeaways from this year’s report
Number of Pages:
- 12 pages
Pricing:
- Free
Methodology
This is the seventeenth edition of Sagefrog Marketing Group’s annual B2B Marketing Mix Report, a resource that has become a valuable year-end tool for modern B2B marketers.
This report breaks down the results of our recent B2B Marketing Mix Survey, gathering the opinions and experiences of professionals across B2B industries, including technology, healthcare, industrial, and business services. This year, we received over 2400 responses, a first in Marketing Mix history.
We transformed these contributions into digestible data revealing the top marketing trends and tactics to watch in the year ahead. With this information, marketers can make informed investments as they plan new budgets and marketing programs. We hope this year’s forecasts and findings help you approach your 2024 marketing strategy with greater confidence.
