THE REPORT 

Why This Report Matters 

B2B marketers navigate a dynamic landscape influenced by economic shifts, altering spending patterns, and heightened B2C-inspired customer expectations.

This report delves into insights from a survey of hundreds of B2B marketers, unveiling how the industry adapts to 2023’s rapid evolution in consumer behavior, budget dynamics, media strategies, and technology. More than data, it offers crucial insights from Wpromote’s experts to empower your decision-making, tackle challenges, and dominate your category.

How To Use This Report 

In an ever-changing economic milieu, understanding prevalent trends isn’t sufficient; you need insights into the decisions driving successful B2B strategies aligned with your brand’s priorities. To enhance the value derived from our findings, we present three distinct segments throughout the report:

Who We Surveyed

In April 2023, Ascend2 and Wpromote surveyed 348 B2B marketers from U.S. businesses with 50 or more employees. Each participant responded to a customized online questionnaire.

SETTING THE STRATEGY IN 2023 

Objectives: Profitability offers an alternative to traditional growth mindset

Traditionally, growth has been the prevailing objective for many businesses, aligning closely with the ethos of Silicon Valley start-up culture. However, recent economic disruptions have prompted a reassessment of this paradigm, prompting executives to shift their focus toward profitability. A staggering 85% of marketers now prioritize profitability over growth.

This shift carries significant implications for budgets and strategic decision-making. Crucially, it underscores the need for a robust collaboration between marketing and finance teams, ensuring that the media mix optimally utilizes every dollar, contributing measurably to overall business outcomes.

In Growth Mode, where maximizing profitable potential is key, 68% of marketers strongly emphasize profitability over growth, a perspective shared by only 33% of their counterparts. Smart profitability-focused marketing isn’t necessarily conservative; it advocates for accountability, integrating risk-taking and testing into the approach to explore new opportunities effectively.

Budgets: Digital marketing investment looks stable, execs feel optimistic

Despite the ongoing transformations in the past year, B2B marketing budgets have displayed remarkable stability. Approximately 70% anticipate a moderate or significant budget increase, experiencing a mere 4% decrease from the previous year but still surpassing 2021 figures. Marketing executives exhibit greater confidence, with 24% anticipating a substantial budget rise.

This divergence in outlook between general marketers and executives becomes evident in the incorporation of AI into the marketing tech stack. While only 32% of non-executives strongly anticipate increased AI integration, a significant 42% of executives view it as a pivotal factor. This enthusiasm for technological advancements may contribute to the optimistic budget forecasts.

Challenges: CX and ROI are pain points, and connecting to business outcomes is a struggle

The complex task of delivering an unparalleled customer experience has once again emerged as a significant challenge for marketers, reclaiming the top position on our list of challenges after slipping to third place in 2022. This resurgence is not entirely surprising; in the post-pandemic landscape, B2B buyers anticipate a seamless and simplified sales process, mirroring their experiences in B2C e-commerce.

However, the most notable ascent on the list is closely linked to the newfound focus on profitability: the measurement and substantiation of ROI. This aspect, positioned just behind CX improvements, has experienced a substantial climb, rising from the bottom of the list in both 2022 and 2021. Accurately gauging the return on investment is imperative for articulating marketing’s impact on overall business profitability.

Explore the nuanced landscape of B2B digital marketing in 2023! Dive into insights, challenges, and strategies. To continue reading, download the full report now.

The Table of Contents of “2023 State of B2B Digital Marketing” Report :

• THE REPORT 
• Why This Report Matters
• How To Use This Report
• Who We Surveyed
• SETTING THE STRATEGY IN 2023 
• Objectives
• Budgets
• Challenges
• Spotlight: Customer Experience
• DEPLOYING DATA & TECHNOLOGY 
• Measurement
• Technology
• Data Privacy
• Spotlight: Artificial Intelligence
• BUILDING THE MEDIA MIX 
• Most Effective Channels
• Top of Funnel
• Bottom of Funnel
• Channel Budgets
• ABOUT THE RESEARCH PARTNERS

Number of Pages:

• 26 pages

Pricing: 

• Free