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B2B trends in 2024: 6 key areas for succes

Maintaining a forward-thinking approach is crucial for sustained success in the B2B realm. As we conclude 2023 and anticipate 2024, it’s paramount to assess our marketing methodologies to ensure readiness for the future. This blog delves into six crucial areas that B2B marketers should prioritize for a proactive start to 2024.

Redefining upper-funnel expectations

Reevaluate traditional approaches to the initial phases of marketing, especially concerning brand awareness. Establishing awareness among B2B buyers is more critical than ever, considering that up to 90% already have preferred vendors in mind before researching, with 90% choosing a vendor from their initial list (Bain and Google survey). It’s essential to be known to buyers before they enter the market. While tracking upper-funnel and B2B activities poses challenges, platforms often offer brand lift studies. Additionally, advanced analyses such as halo studies and incrementality tests can deepen comprehension.

Recognizing the role of content in the upper funnel

Place emphasis on quality content when addressing the upper funnel. A strategic content approach fosters lasting connections with your audience. Tailor content to provide value through various formats like blog posts, videos, webinars, and interactive experiences. Many B2B marketers struggle with unappealing creative elements, including website design. Leverage tools like Microsoft Clarity for heat mapping and behavior analytics to identify improvement opportunities. Also, reassess your value proposition, as it often receives inadequate attention.

Investing in out-of-market buyers

Ninety-five percent of B2B buyers are not actively seeking products or services at any given time (LinkedIn Research). Focusing solely on buyers “ready to talk to sales” means missing out on 95% of your serviceable addressable market (SAM). Commit to investing in this substantial group to generate mental availability. Creativity plays a pivotal role in marketing success (47%), followed by media (38%). Yet, a significant portion of B2B content lacks inspiration and fails to connect with the audience on a human level.

Personalization for impactful experiences

Prioritize enhancing customer experience (CX) to drive customer satisfaction. Address issues like slow load times, rage clicks, and multiple-use targets by optimizing website performance and ensuring user-friendly design. Deliver consistent, positive experiences across all touchpoints, making mobile interactions enjoyable for B2B customers. This approach not only attracts more customers but also creates mental availability on various platforms.

Value-based bidding

for efficiency and ROI Explore the potential of Google Ads value-based bidding (VBB) as a game-changer for B2B marketers. VBB enables you to inform Google about valuable customers, allowing the algorithm to adjust bids accordingly. Utilize tags or online conversions to provide insights into customer actions. Google’s direct integration with CRMs like Salesforce or HubSpot simplifies the process. Missing out on VBB may result in significant improvements, as demonstrated by a Tinuiti case study.

Transitioning from hyper-targeting

While hyper-targeting strategies like account-based marketing (ABM) are popular, they come with drawbacks, including increased costs. LinkedIn’s 2030 B2B Trends report highlights the higher cost per acquisition associated with hyper-targeting. Furthermore, hyper-targeting overlooks potential blind spots, given the expected 40% shift in jobs, industries, or titles in the next four years. A more flexible targeting approach that acknowledges professional changes allows B2B advertisers to adapt effectively and achieve sustainable results.

Reflect, prepare, and plan Looking ahead to 2024, the B2B marketing landscape is poised for transformation. From optimizing the upper funnel to enhancing personalization and adjusting targeting strategies, evolving approaches will lead to greater efficiency and sustainability. By reflecting on key trends and their implications now, businesses can make informed decisions to kick off the next year in an optimized and proactive state. Challenge existing norms and embrace emerging practices to drive meaningful results while staying ahead of the curve.