Digital marketing is constantly evolving, and keeping up with the latest trends is essential for businesses that want to stay ahead of the competition. In 2023, there are several key trends that B2B marketing professionals need to be aware of. From managing the marketing function to retaining customers and experimenting with new technologies, these trends will have a significant impact on how companies approach digital marketing in the coming year.
In this article we will cover:
Marketing to B2B Audiences
One of the biggest trends in B2B marketing for 2023 is the need to focus on retaining existing customers. With the economic environment making it harder to win new customers, CMOs will be placing greater emphasis on keeping existing ones. However, this will be more challenging than in previous years as buyers become more demanding. To succeed, marketers will need to develop a deeper understanding of customer needs and devise or rethink loyalty programs that are tailored to their specific requirements. This can include providing personalized offers and discounts, creating a rewards program, and gathering customer feedback to improve the customer experience. Additionally, implementing a customer retention strategy can help reduce customer churn and increase customer lifetime value.
Managing the Marketing Function
Another trend that will be gaining momentum in 2023 is account-based marketing (ABM). A recent survey suggests that 70% of US digital marketing leaders plan to invest in ABM technology, as marketers move away from simply generating leads to identifying high-value accounts and building lasting relationships with them. ABM is a targeted approach that allows businesses to focus on a specific set of accounts, rather than a general audience. By identifying these accounts, businesses can create personalized marketing campaigns that are more likely to resonate with them. The goal of ABM is to improve the ROI of a company’s marketing efforts by focusing on the most valuable accounts. At the same time, the way in which ABM is being used is evolving, with it no longer being just about sales and advertising but also encompassing communications and thought leadership.
New Technologies and Applications
The pressure to do more with less will push many CMOs to experiment with new technologies and applications, channels, and brand narratives. Expect to see more “snackable” content, such as short-form video content combined with LinkedIn’s B2B targeting.
Additionally, AI will play a key role in driving efficiency, whether it’s using an AI assistant to schedule and coordinate sales meetings or exploring the use of technology like ChatGPT to help draft content and marketing copy. AI can also be used to analyze customer data, identify patterns and trends, and personalize marketing messages. The use of machine learning algorithms can help businesses to predict customer behavior and improve targeting efforts.
Moreover, in 2023, businesses will be focusing on sustainability as well. Sustainability will take its place alongside the usual business factors relating to operational excellence, profitability and performance – and that lens will include the carbon footprint of marketing itself. As a result, CMOs will be holding their media agencies accountable for making smarter choices around where investment dollars for advertising are placed. This could lead to an increase in digital marketing campaigns, as they have a relatively lower carbon footprint.
2023 will be a challenging year for B2B marketing professionals, but by keeping an eye on the trends outlined in this article, businesses can stay ahead of the curve and succeed in a competitive marketplace. From focusing on customer retention, experimenting with new technologies, addressing employee burnout and focusing on sustainability, these trends will have a significant impact on how companies approach digital marketing in the coming year. It’s important for CMOs to be aware of these trends and make necessary adjustments to their strategies to stay ahead of the competition.