You are in charge of marketing for a growing software company.
Your team has been employing identical marketing strategies for ages, but you just found out your competitors are doing better in the market. Your website's traffic and number of leads have stopped growing, and reaching your target audience takes a lot of work.
You know it's time to shake things up and adopt the newest B2B marketing trends to maintain your competitive edge. But where should you start?
With so many technological advances, strategies, and channels coming out, it can take time to tell which ones will help your business the most.
That is where this guide comes in.
We've consolidated the top B2B marketing trends for 2024 to assist you in navigating the changing landscape and creating a winning marketing approach that generates results.
Discover new ways to grow your business with AI-powered personalization and immersive content experiences.
So prepare to take your business-to-business (B2B) marketing to the next level in 2024.
Let's get to understand B2B marketing first. Ready?
An Overview of B2B Marketing
The primary decision-makers within a firm, such as executives, managers, and other stakeholders, are the focus of your B2B marketing tactics.
Search engine optimization (SEO), email marketing, social media advertising, content marketing, account-based marketing, and other techniques may come into play as part of these initiatives.
B2B marketing necessitates a thorough comprehension of the target market, an intelligent marketing approach, and a readiness to adapt as the industry expands.
According to a Statista survey on B2B spending, 32% of American businesses spend 5% of their budgets on marketing.
The share of budgets that B2B marketers in the US allocated to promotional activities got questioned in late 2020.
Around 13% of respondents claimed to devote more than 15% of their budgets to marketing, while the same percentage claimed to devote less than 1% of their companies' budgets to marketing activities.
It requires a lot of method and process changes, as well as the introduction of various new technologies, compared with the ones that used face-to-face meetings.
Notwithstanding these modifications:
According to 59% of marketers, their sales and marketing organizations are doing well considering the overall situation. Targeted marketing and long-term sales success are only possible if you target the market and position your goods correctly.
Structure your business so that it stands apart from competitors and understand the B2B marketing strategy that will propel you forward.
Top B2B Marketing Trends to Look Out for
If you work in B2B marketing, you know how important it is to stay current with trends to stay ahead of the competition. It can be a challenge to figure out which trends in the rapidly changing world of digital marketing are essential.
In light of this, we've compiled a list of the top B2B marketing trends to watch out for. These developments, which range from artificial intelligence to tailored content, will change how you approach B2B marketing and enable you to succeed more.
Now, let's dig in and find the juicy part!
1. Using AI to Create New Ideas
Artificial intelligence is prevalent in many marketing tasks, from analyzing data to making personalized suggestions and creating content.
For instance, in 2022, the artificial intelligence market was estimated to be worth USD 136.55 billion. From 2023 to 2030, it will increase at a CAGR of 37.3%. AI is improving at a fantastic rate. It will play a more significant role in marketing in 2024 and the years after.
With the release of OpenAI's ChatGPT, generative AI has become more widely used. For instance, OpenAI aims to generate $1 billion by 2024 through ChatGPT.
This year, many AI tools that make text have gained much popularity. Even though we don't expect to give all the work of making content to an AI, these tools help content marketers speed up production and make it more personalized.
2. Podcasts: The Game-Changer in B2B Marketing
Podcasts are gaining popularity as a marketing channel for B2B businesses. They are not as established as SEO, PPC, or content marketing.
But businesses are shifting some of their marketing budgets away from traditional channels and putting some of that budget into podcasts.
If you look at the numbers, this makes sense. Demand for and interest in podcasts is growing fast. According to a report by Edison Research, the number of people listening to podcast has more than doubled since 2014.
The question is, How can you use podcasts to connect with your B2B customers effectively?
Here you go.
Pick The Right Subject
Choose an interesting topic that is interesting and relevant to the people you want to reach.
Also, think about their problems and pain points and make content that helps them solve those issues.
Experts as Guests
Ask experts in your field to share their ideas and knowledge. It can give your podcast more credibility and help you reach more people.
Put out new episodes often to keep your listeners interested. To keep people coming back, you need to be consistent.
Use Social Media and Email Marketing
Use social media to spread the word about your podcast and reach more people. Think about working with other businesses or people who have a lot of influence to get even more potential clients.
Use Statistical Data
Use relevant data and statistics to support your arguments, make up your arguments, and make your podcast more interesting. 50% of monthly US podcast listeners are between the ages of 12 and 34, 43% are between the ages of 35 and 54, and 22% are beyond 55.
Customers who buy from B2B companies often want data-driven ideas to assist them in making smart choices.
3. Unlock B2B Success: Master LinkedIn's Power
Are you ready to enhance your marketing skills and make the most out of LinkedIn?
With over 700 million users, LinkedIn is a great way to connect with decision-makers, show that you are a professional in your field, and find new customers for your business.
First, ensure your company page is set up well to show off your brand and get people to follow you. Use good pictures and a clear, precise explanation of what your business does. Remember to use relevant keywords for your page so that it appears in search results.
Next, create content that is interesting and relevant to your target audience. Share ideas, thought leadership, and news about your industry that show your expertise and help your followers. Use videos, infographics, and podcasts, among other things, to keep your content fresh and exciting.
LinkedIn groups can also be a great way to find new customers and business partners. Join groups, share insights, and connect with potential clients.
LinkedIn's advertising platform gives you many ways to reach your target audience. This can include display ads, sponsored content, and messages. You can ensure the right people see your ads by targeting options like job title, company size, and location.
Keep track of how things are going and change your plan as needed. Use LinkedIn's analytics to keep track of your engagement, followers, and leads. Analytics for LinkedIn visitors reveal who is visiting your company page.
You can instantly compare your current analytics to those from the prior period and discover how many views, unique visitors, and button hits your page has received.
Try different content and advertising to see what works best for your business. By learning how to use LinkedIn's marketing potential, you can contact new audiences, build your brand's reputation as a thought leader, and find new customers for your business.
Start by improving your company page, creating content people will want to read, and using LinkedIn's advertising options. LinkedIn's power is there for you to use, but are you using it well?
Another thing you should aim for is the retention of your clientele.
4. Revolutionize B2B Marketing: Embrace Retention
Isn't it true that a bird in the hand is worth two in the bush?
So, what's it worth to keep that bird healthy and happy for a long time? It is retention marketing. Marketing to keep customers coming back has been around since the first person sold something to another person.
Because selling to existing customers is easier and more efficient, the seller eventually realized the benefits of doing so.
In short, retention marketing is a set of activities to keep customers returning. It leads to a higher marketing return on investment (ROI) because sales keep coming in at a lower cost per sale. Retention marketing can boost how long a customer keeps buying from you and how much money they spend.
You can also call it "cross-selling" or "upselling." We want to sell more products and services to customers we already have, charge them more, and make more money. The Harvard Business Review says that a 5% increase in the number of customers who stay with a business can lead to a 95% increase in profits.
Those in B2B content marketing always talk about getting new customers. Retention marketing might be a better place to start in 2024, especially if money is tight.
What are the best ways to keep customers coming back?
- Getting started and learning
- Training for customers' constant talk
- Ongoing help for customers
- Surveys and testimonials
- The customer appreciation illustration shows parts that are important to keeping customers.
Maintaining a loyal customer base can result in higher sales, good word-of-mouth, brand loyalty, lower marketing expenses, and insightful feedback. It can also achieve customer retention by including influencers who stoke the fire for you.
5. Harnessing Influential Voices: The Power of Influencers
HubSpot's research showed that 2022 influencer marketing would be the most important new trend. The idea of "influencers" has been around for a while, but this content marketing trend will likely grow through 2024, especially in the B2B world.
Influencer marketing has been significant for business-to-consumer companies for the last ten years, and its effects are still reverberating on social media and other marketing platforms. It is also a form of word-of-mouth advertising. Word-of-mouth advertising has long been a big way to get new customers.
Because of how social media has changed, it's now much easier for famous people to connect with their fans. Since influential people tend to get in front of people who admire and respect them, these enthusiasts are more inclined to believe what the influencer says and who they buy from. Influencer marketing is now regarded as a prominent advertising tactic and has been used in campaigns by 93% of marketers.
Influencer marketing is becoming an important marketing strategy. Only 7% of marketers surveyed have never used influencer marketing.
It makes this marketing effort a reliable method to make more money. Influencer marketing is popular among B2B marketing teams because
- It raises brand awareness.
- It builds trust between customers.
- It lets them reach their target audience.
- Speeds up and increases the number of sales.
- It brings in more potential customers for their sales pipeline.
- It helps them gain a larger market.
Collaborating with influencers to endorse products can create authentic connections with target audience. Think about how often you scroll right past sponsored ads on social media. Most likely, there are too many to count.
But let's say you see one of your favorite celebrities promoting something on their Instagram story. Even if you don't buy immediately, you can stop, listen to what they say, and decide whether to buy.
By using authentic storytelling tactics, these influencers make it possible for growing businesses to reach new buyers in their target market that they wouldn't have been able to get any other way.
Even as you target the right influencers to help with your business goals, put the right content in front of them.
6. Business Growth with Content Marketing
For a long time, B2B marketers have relied on content marketing as a proven method.
However, interest in B2B content marketing has become more popular recently and is not cheap, which has made the channel a lot more challenging to get into. 56% of B2B marketing teams are spending more money on creating content, according to the Content Marketing Institute.
Some of this money for marketing gets used to help them make more content. So, how can businesses get their B2B content to bring in the right people to their site?
BuzzSumo, a tool for content marketing, recently looked at 50,000 B2B articles.
They found that successful B2B content, as measured by the number of social shares and backlinks, tends to have these critical things in common:
- Long-term, people were more likely to share B2B content about evergreen topics than content about news or trends.
- The best headlines for B2B content were specific ones, like "The future of..."
- Content with more than 1,000 words from B2B publishers got more backlinks, shares, and engagement than content with less than 1,000 words.
Because content marketing is an efficient, affordable, and long-term approach that can help raise brand awareness, create leads, increase customer retention, and boost revenue, you should accomplish growth through it. To top it all, remember the power of B2B social media marketing. It is your gold mine.
Here are other B2B social media marketing statistics to consider:
- According to Sprout Social, 90% of consumers will purchase from a business they follow on social media.
- For addressing customer care concerns, 38% of customers prefer social media over other methods, compared to 42% prefer the phone and 20% prefer email (Statista).
- According to 78% of consumers surveyed by Sprout Social, social media is the quickest and most direct way to interact with brands.
Simply put, brands that aren't active on social media these days appear stale.
Look for and target one platform that will work for you; just make sure it's the one that your customers use most frequently. It can be Instagram, Facebook, LinkedIn, X (formerly Twitter), TikTok, and YouTube, and put in the time and money required to develop a B2B social media marketing strategy that creates a strong and engaging presence.
This will help you build trust online and improve your brand's reputation.
7. Strategic Partnerships
Some strategic partnerships can be a game-changer for your company in certain situations.
Nearly all B2B executives anticipated that indirect sales and marketing strategies would increase revenue in 2022.
In the second annual "Channel/Partner Marketing Benchmark Survey," released by Channel Marketer Report and Demand Gen Report, 96% of participants said they anticipated growing income in 2022 that could be directly linked to their partner ecosystems.
The reason is that partnerships let businesses use each other's assets and capabilities to their advantage, which is suitable for both companies. Partnering can help you reach many marketing goals, such as raising brand awareness, getting more leads, and making more money.
One of the best things about strategic partnerships is that they help you reach more people. For example, if you work with a business that complements yours and serves a related target market, you can reach more of their customers. It can work particularly well for B2B companies that offer a niche product or service.
Sharing resources and skills is another good thing about strategic partnerships. For instance, if you're a B2B business specializing in software, you could work with a hardware maker to give your customers a complete solution.
It can help businesses make more money and give their customers a better experience.
In the end, strategic partnerships can support your efforts in a big way. Businesses can grow, share knowledge, and enter new markets using each other's strengths and resources. It creates a partnership while upholding your customers' independence and best interests.
8. Emotional Connection: Nostalgia Marketing
It's a strategy to link your business with a brand people already love and remember. Nostalgia marketing can assist you in relating your products and services to the world.
By being genuine, using societal trends, and reintroducing a discontinued good or service, your business should begin to engage in nostalgic marketing techniques.
An even more essential weapon is nostalgia marketing as the world navigates these unheard-of circumstances. The world needs something familiar, secure, and reassuring right now in the year 2024, and nostalgia provides just that.
Another point is customer loyalty is based chiefly on emotional connection. The benefits of connecting with clients' emotions are enormous.
Consider these instances: A large bank launched a credit card for Millennials that intended to evoke an emotional response; usage within this demographic climbed by 70%, while new accounts grew by 40%.
Why this scenario?
This is because emotionally connected customers are likelier to be devoted, make repeat purchases, and advocate for the brand. A trusting client will keep returning for more, even if you use a chatbot in their buyer journey.
9. B2B Marketing with Chatbots
Conversational AI technology can automate client interactions on websites or messaging apps. Businesses can offer 24/7 individualized support to clients by utilizing chatbots, which may ultimately aid in closing sales.
When chatbots emerged a few years ago, they seemed like a fad. But bots are now an essential part of marketing.
As per a recent report by Juniper Research, the operational cost reductions from chatbot use in banking would increase from an expected $209 million in 2019 to $7.3 billion globally by 2023.
A lot of B2B websites now have chatbots since they can help with B2B marketing's "last mile."
You've used material or an ad to bring someone to your website. They are looking at the page with your plans and prices. But a "nudge" is what many visitors need to get them to act.
Yes, you could always hire someone to help with your live chat, but that can cost a lot. And chatbots can grow indefinitely, while human support staff can't.
Travel businesses like Expedia and Kayak utilize chatbots to assist with bookings, provide recommendations for flights and hotels, and answer questions about travel laws. Chatbots can expedite bookings and help travel companies offer tailored customer service.
Still, chatbots are used for more than just making sales and getting leads. You can also use them to help customers who are already there. And because they are available 24 hours a day, seven days a week, the customer experience is better than traditional support.
For retention marketing, chatbots are now often used to do things like answer questions and upgrade accounts.
10. The Simplicity of Marketing Automation
Marketing automation has been one of the most important digital marketing trends in the last five years. And there's a reason for that: when marketing automation is done right, it leads to more emails getting opened, more clicks, and more leads.
But marketing automation does have one big problem: it takes a lot of work to set up. It could be why 41% of B2B companies say they need to get the most out of their marketing automation.
And half of them say they want cheaper options. It makes sense that many B2B companies are switching from complicated marketing automation software to funnel tools that are easier to use and cost less money.
In general, there is more and more interest in funnel software. But ClickFunnels, which is said to have an ARR of $160 million, is the market leader right now.
11. Incorporate Voice Marketing
Voice marketing in B2B means using voice-activated technology to enhance and sell products or services to other companies. It has become more prevalent in recent years as technology that can be controlled by voice has become more common.
With voice-activated devices, B2B companies can talk to their customers more naturally and conversationally. It makes the experience more personalized and interactive. The usage of digital assistants and voice search will increase in the future. When voice-activated gadgets came out first, lists and notes for the grocery store were utilized with them.
This tool presents enormous prospects for marketers because it helps us learn more about our customers and their wants.
Ensuring your firm gets prepared and has the resources it needs to compete successfully with other companies employing this cutting-edge technology tool is crucial.
Don’t forget to augment your solutions with your clients' content about you.
12. Use User-Generated Content (UGC)
As social creatures, we like to hear other people's stories. Isn't that what keeps us in touch?
It is why user-generated content is such a powerful B2B marketing trend that will continue to grow in 2024. By social media standards, user-generated content is the new word-of-mouth.
That’s why 87% of businesses use user-generated content (UGC) to give their customers accurate content. This type of B2B marketing is genuine because it shares stories from your clients rather than a staged production showing your company's product or service's usefulness.
This 2024 B2B marketing trend is more than just highlighting what your company's product or service offers. User-generated content is usually a story a customer tells about their experience with your business and any interactions they may have had with a team member. Customers seek evaluations and advice from other consumers in 92% of cases.
Even though your business's products or services may be a big part of a decision maker's forte, their interactions with your business keep them loyal, long-term customers.
Compared to sharing professionally created content, brands have seen a 28% increase in customer engagement when sharing relevant user-generated material on social media, their website, or any other digital platform.
UGC initiatives allow you to connect with customers in a new way. By incorporating it, you can get increased consumer attention and fruitful commercial consequences.
13. Storytelling is Important in B2B Marketing
Most B2B companies market their products similarly: they highlight the best parts of their product. And why their business is the best one on the market as a whole.
This plan makes sense in theory. After all, the whole point of B2B is to convince a company's decision-makers that your product is the best choice. So you should get the job if you show why you're the best.
But you probably already know that theory taught in an MBA program only sometimes works out in real life. Like in B2C and B2B, decision-makers sometimes use logic and reason to choose products. There are a lot of feelings at play.
It is why more and more B2B companies are telling stories about their products to make them stand out. Get remembered and get deals done.
For instance, AI bees tell stories to make the benefits of their sales and marketing more relatable to their customers.
The goal of B2B marketing is to improve brand recognition among competing businesses. Convince your prospects of the advantages of your offering through stories, and you'll get their attention. Then, do some lead scoring to know how successful you are!
It would be best if you also harnessed the power of video.
14. Create More Video-Based Content
For most purchasers, seeing is believing. You can put as many exciting things online as you want, but streaming and other video-based content is one of the best and most effective ways to get people interested in buying.
Compared to other media channels, short-form video has been determined to offer the highest return on investment (ROI), particularly in social media marketing. The actual value that video can add to a marketing strategy is becoming increasingly apparent to B2B organizations.
According to studies, consumers retain 95% of the material when watching a video, compared to only 10% when reading text.
It is without question that this marketing approach is the most successful one available today and in the future. Marketers have realized the value of producing films for audiences to foster a more trusting environment among potential customers.
Consumers are attracted to honest brands. That is what distinguishes a product in the eyes of customers. Go to where your clientele is, entice them, keep them interested, persuade them, and turn them into customers through your videos.
Need support? You might be figuring out your B2B business's pain spots, or you might have already done so.
In any case, AI bees, a multi-awarded digital marketing agency, can and will be happy to assist you on your path to success.
Video footage is your most beneficial tool when educating potential customers about your product. Remember to be particular about your target market, though.
15. Tap into Account-Based Marketing(ABM).
Account-based marketing is a marketing technique in which B2B marketers target specific accounts or groups of funds with customized campaigns and content suited to their unique needs and features.
B2B customers now anticipate receiving treatment like B2C customers. And the key is to be kind.
Whether they are purchasing for themselves or their business, clients expect to be treated with empathy and to have their needs met. 82% of high performers say B2B and B2C tactics intersect. 67% of underperformers are worse than this. Also, overperformers spend 18% of their budget on ABM, while underperformers only pay 14%.
ABM is a relatively new trend, but it's famous for a good reason. 64% of ABM programs got started in the last five years. Since then, they have become more complex, and 68% use automation.
Highly focused ABM has the potential to be more economical than conventional marketing techniques, which frequently depend on broad-based initiatives that reach a broad audience but convert at a lesser rate.
From the Brafton study mentioned above, 49% of marketers have started to shift their objectives to concentrate more on growing companies with existing accounts. Compared to other marketing activities, ABM gives a 97% higher return on investment (ROI).
ABM harmonizes sales and marketing activities by concentrating on high-value accounts and sending targeted messages that meet their particular requirements. For B2B marketers that want to concentrate their efforts on high-value customers and increase their conversion rates and ROI, ABM is a potent tool.
How AI bees Helps With Your B2B Trend Queries
Achieving success in the always-changing world of B2B marketing requires staying current with the latest trends.
Ignoring the latest ideas and techniques is like traveling through a turbulent sea without a compass. You'll become disoriented and fall behind your rivals. To stay competitive, keep your marketing expertise and abilities up to date regularly.
AI bees can be a potent partner for B2B marketers trying to keep on top of the most recent trends and be successful in their marketing initiatives.
AI bees can assist you in driving results in the constantly evolving field of B2B marketing by gathering and analyzing data, personalizing marketing campaigns, automating tedious processes, and testing new approaches.
Contact us today to gain insights on B2B trends that will put you ahead of the curve in 2024.