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Brands took some incredible journeys in 2022. Miller Lite opened a bar in the metaverse, Whole Foods dabbled in accepting Bitcoin, and Nike created a Web3 shoe and apparel store.
But in the face of high inflation and a potential recession, there probably won’t be sustained B2B marketing momentum in such new, untested channels in 2023.
Although those channels may present opportunities down the road, marketing budgets are under increased scrutiny, forcing marketers to re-envision their strategies for the year ahead.
As 2023 dawns, marketers are scrambling to gain a clearer picture of what’s to come. By understanding the trends that are reshaping the marketing landscape, you can lay the groundwork for your brand’s success in the coming months.
Although it’s impossible to predict how economic uncertainty and other factors will influence marketing strategies in 2023, it’s a safe bet that marketers will need to be more selective and smarter about whom they reach with their campaigns.
That isn’t necessarily a bad thing overall. Many marketers are better positioned to conduct a healthy reassessment of their tactics and technologies, implementing changes that will empower their marketing strategies in 2023 and beyond.
Here are my predictions for what that will look like.
1. Organizations that rely on data-driven approaches will attain long-term success
Despite having access to a large amount of data, most marketers are not effectively applying that data to their campaigns and initiatives. That will end this year.
Up to 90% of the buyer’s journey is complete before a prospect even reaches out to a salesperson, LinkedIn research found, so successful marketers know how to engage with their prospects throughout the entire funnel. But without data that informs content strategy, marketers must guess at the most relevant content and messaging to engage their target audience.
By using data to match content to buyers’ mindsets within their customer journey, marketers can balance the brand-building necessary for long-term revenue growth.
I anticipate more marketers will seek out martech solutions that consolidate and combine disparate data to gain a better understanding of which target audiences have the highest propensity to purchase and what content should be used to engage and convert them faster.
2. B2B marketers will return to tried-and-true tactics
Marketers are facing more pressure to demonstrate how their media strategies lead to pipeline improvements or influence. During a time when every dollar counts, marketers will need to optimize media spend and focus on high-performing channels rather than new approaches, such as sponsorships or influencer marketing. I expect most marketers will double-down on strategies that have proven their value time and time again.
For example, if your organization has historically relied on LinkedIn as an effective social marketing channel, the risk is minimal because you’ve likely achieved the right balance of marketing, expenditure, measurability, and return. It may not be the right time to heavily invest in new social channels because the impact of your investments is less certain.
I expect B2B marketers to lean on data-driven, full-funnel, always-on account-based marketing strategies this year. Using ABM, you can maximize your marketing budget by targeting the accounts and buying committees most likely to convert and save time and effort with a persistent in-market presence that delivers a personalized experience and drives engagement with the accounts that matter the most.
Best of all, you can more accurately demonstrate pipeline impact and deliver superior ROI through real-time measurements across channels and every stage of the sales cycle.
3. Persistence will be key
In B2B sales, every interaction with target accounts should be meaningful and effective, and it should also establish trust, so buyers select you as their best-fit solution.
But B2B buying journeys are complex, and organizations aren’t always set up to engage the right audience with the right message at the right time to influence the purchase decision. Furthermore, those on a buying committee look for multiple pieces of content on multiple channels at different times, and marketers often struggle to deliver a consistent and effective experience. During times of economic uncertainty, purchase decisions become even longer and more complex.
As marketing budgets tighten, marketers will need to save time and effort with a persistent in-market message that delivers a personalized experience and drives engagement with the accounts that matter the most.
In 2023, the most sophisticated marketers will use more always-on approaches to avoid adding complexity to potentially stretched teams, and they will reap the results of better engagement.
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Marketers will need to place a greater focus on what works in 2023. Few brands will plunge into the metaverse or begin to accept cryptocurrency this year. Instead, most B2B marketers will rely on strategies that drive predictable results and foster internal innovation.
By pivoting back to the basics, you can weather economic challenges and emerge on the other side ready to experiment again.
More Resources on B2B Marketing Trends
2023 B2B Content Marketing Report: Benchmarks, Budgets, and Trends
B2B Tech Buyer Trends: Goodbye Vendor Reps, Hello Self-Service
B2B Digital Marketing Trends: Top Channels and Tactics for 2022
