Now seems like a good time to focus on getting more out of your existing marketing efforts, with a strategic drive on effectiveness, marketers can better prepare for the challenging economic times ahead. We look at the reality of marketing effectiveness as told via data.

 

1. High performing companies invest more in marketing

Marketing budgets have climbed to 9.5% of total company revenue in 2022, an increase from 6.4% in 2021 (1)

 

2. B2B marketers are short-term focused fuelled by the demand for quarterly results

Only 4% of B2B marketers measure impact beyond six months (2)

 

3. Effective marketing is super charged with short-term demand and long-term brand investment

Efficiency appears to be maximised when around 46% of the budget is allocated to brand, with around 54% allocated to activation (2)

 

4. Lack of investment in training and measurement platforms is holding back the marketing team

Just 23% of marketers say they know what KPIs to track (3)

 

5. The strategic drivers for increasing focus on deeper metrics and performance insights according to B2B marketing executives:

  • 67% want “to show ROI from all marketing investments (4)
  • 57% have a “desire to show marketing’s impact on pipeline and revenue (4)
  • 33% want to improve internal marketing and sales alignment (4)

 

6. The biggest challenge within Measurement is having the right data to measure the right outcomes, rather than having meaningful marketing metrics (5)

 

7. Creating an effectiveness culture starts at the top

More brands need to take ownership of marketing effectiveness, “board-level involvement is only mentioned 15% of the time (5)

 

8. Only 17% of CMOs think they “track customer lifetime value extremely well or very well (6)

 

9. The biggest challenges to measuring and demonstrating marketing’s impact according to B2B marketing executives:

  • 51% struggle to integrate and analyse data across different channels and platforms (4)
  • 46% struggle to “measure and track activity between specific buyer stages (4)”
  • 46% say their data is a mess (4)

 

10. Download our ‘A guide to marketing effectiveness’ report to see how you can build a robust action plan for more effective marketing in simple steps.

 

The suboptimal performance of most B2B marketing is a big opportunity for you5

 

References