In the face of economic uncertainty, inflation, and supply chain constraints, the pressure is on CMOs to lead the way to growth.
Boards and the C-suite expect marketers to prove the value of their efforts and demonstrate the connection between marketing investments and business growth. B2B marketers are particularly feeling the heat, with increased demands for efficiency in budgets and higher costs from suppliers and vendors. Moreover, the ever-changing buyer behavior and the complex martech landscape pose additional challenges, especially for organizations lagging behind in digital maturity.
To make a significant and lasting impact on the bottom line, B2B marketers must not only enhance their digital maturity but also be transparent about the experiences they offer to buyers. Improving digital maturity is a crucial aspect, as data analysis indicates a strong correlation between digital maturity and business success.
As volatility persists, CMOs require tools and insights to quantify marketing's support in driving sales growth, enhancing customer retention, and improving customer experience.
Recent research suggests that European businesses often fall behind the United States in terms of technology adoption. This gap extends beyond the presence of tech giants and encompasses how technology is utilized in marketing efforts.
The most commonly cited challenge (43%) was having the right people to execute marketing strategies. Lack of alignment between sales and marketing (35%) and data quality issues (33%) were also significant obstacles. Interestingly, a smaller percentage of marketers identified insufficient engagement from buyers (28%) as a challenge.
The findings indicate that while European B2B organizations excel in certain aspects of digital maturity, there is room for improvement in others. Marketers demonstrate proficiency in digital strategy and utilization of engagement and performance data. However, driving engagement, adopting new technologies, and delivering personalized experiences still require attention.
To address these challenges and accelerate progress, consider the following recommendations:
Assess your digital maturity honestly, acknowledging that each step towards improvement will yield results.
Develop a comprehensive strategy that outlines how you will engage buyers and enhance their experience to drive desired outcomes.
Leverage contact-level or account-level engagement data to personalize digital experiences and content.
Embrace a wider range of techniques and tactics to inspire action and engage buyers.
By implementing these recommendations, marketers can navigate the shifting landscape more confidently, enhance their digital maturity, and drive impactful results. In an environment where every penny matters, marketers who prioritize these strategies will demonstrate their value and ensure their efforts contribute to revenue growth and long-term success.