Predictions 2023: B2B
Between privacy-first shifts, cross-channel environments, and an increasingly wide array of advertising products from which to choose, B2B brands will need to maintain a finessed, full-funnel strategy to stay ahead of the competition in 2023. Natalie Scherer (SVP, Marketing) shares her three top bets for B2B marketers in the coming year as part of our Predictions 2023 Series.
1. Making the most of media spend across the entire funnel. We know that B2B marketing is a long game. However, one of the first line items on the chopping block if budget cuts roll around is dollars spent on awareness.
“It’s going to be more important than ever in 2023 for marketers to set expectations with their counterparts about how they are looking at, and evaluating, media spend across the entire funnel.”
During the next year, focusing on full-funnel media spend means that proactive B2B marketers will be focusing on much more than just conversion: What’s driving engagement? What about click through rate? How am I using my top of funnel spend wisely to better understand what messages drive awareness? What historical data am I analyzing to continue learning for future strategizing? Determining your approach to this portion of the funnel will be key to maximizing your media spend throughout 2023.
2. Clean approaches to consented first-party data collection. With the sunset of cookies and privacy-first measures abound, audiences are still demanding a personalized and authentic buying experience. B2B marketers will need to evolve how they connect data dots in a way that keeps privacy top of mind.
“Marketers are going to be more intentional about setting aside dollars and having campaigns and efforts specifically designed to collect consented first-party data.”
2023 will see B2B marketers doubling down on their first-party acquisition strategies — and also how they store and activate that data to keep it clean. This will require combining a cross-functional human component with a streamlined tech stack.
3. Innovative buying and learning experiences for buyers. In the spirit of focusing on customizing the buying journey, interactive digital experiences will be a must in 2023, especially considering buyer behavior and the amount of time spent conducting independent research online.
“More B2B marketers will be focused on how they build out digital experiences that allow their buyers to serve themselves, and learn about the brand.”
Whether that be guided tours, quizzes, or newsletter signups, website tools that allow one-on-one interaction between buyers and brands without being face-to-face will allow brands to immerse their clientele far more authentically, and on their terms.
With audience-centric and privacy-first trends taking center stage in digital marketing, 2023 will require B2B marketers to remain wise with their budgeting, clean with their data collection practices, and innovate how they are interacting with target audiences.
Ready to shift your focus to audience-first strategies this year? Contact us today!