Yes, B2B marketing budget conversations are evolving to emphasize value and impact. During our Reimagine Digital Showcase, Evelyn Truter, CMO at GDS Group, emphasized the importance of a flexible, future-friendly strategy that prioritizes human-centric approaches. While our research shows that 65% of sales and marketing leaders are focused on short-term gains over long-term performance, marketing budgets are increasingly earmarked for the adoption of new technologies, such as artificial intelligence (AI) to enhance customer engagement, data analytics for a deeper understanding of their customers, and investment into brand perception. These conversations center on holistic strategies that align sales and marketing with overarching business revenue goals. The key is testing, failing fast, and subsequently investing in the right type of activity.

To create a basic inbound flow successfully, businesses need to integrate digital marketing channels effectively. Leveraging insights from our Reimagine Digital Showcase, it’s clear that the combination of online engagement, such as social media interactions, live streams, digital events, and in-person events offers a comprehensive approach. Akansha Aggarwal, Senior Director, Americas GTM at NetApp, emphasizes aligning sales and marketing around a common KPI – pipeline – further highlighting the need for synergy between teams. Incorporating marketing automation tools, such as AI and technology, can streamline lead nurturing and enhance efficiency. The core requirements include a robust content strategy, seamless coordination between digital and in-person engagement, and the use of technology for data-driven decision making.

Cat Anderson, Head of International Marketing at Sprout Social, discussed the increasing importance of authentic human connections in the digital era. Sales strategies need to align with the emotional aspects of buying decisions, emphasizing the value of relationships. Alignment between sales and marketing has emerged as a priority, with a shared focus on pipeline and revenue. Evelyn Truter, CMO at GDS Group, spoke about how RevOps teams need to create a ‘unified revenue approach’ to create a measurable uptick in overall revenue performance by combining all skills. Sales teams are integrating digital tools and AI, while prioritizing connections and closely aligning with marketing strategies.

Account-based marketing (ABM) or, as I prefer to call it, account-based experience (ABX), seamlessly integrates into demand generation strategies by providing a focused and personalized approach to engaging high-value target accounts. Unlike demand generation, which casts a wider net to attract your target audience through value-led content, ABX prioritizes specific accounts with the greatest potential for long-term value. By tailoring campaigns to the unique needs and challenges of these target accounts, ABX enhances engagement, accelerates the sales cycle, and aligns marketing goals with the individual requirements of key accounts. The emphasis on building relationships with decision makers and leveraging multiple touchpoints ensures that ABX complements and enriches a broader demand generation strategy, maximizing efficiency and driving qualified leads. What is the key to a good ABX and demand gen strategy? Alignment. Jessica Deckinger, Operating Partner at GrowthPath Partners, emphasized the necessity for strong partnerships and open dialogue between sales and marketing, and this is exactly what you need. Ruth Connor, CMO and Business Partner at Coface, echoed this sentiment, emphasizing that ‘demand generation is a culture’ that you have to commit to as a business. It is an intrinsic part of how a company operates and interacts with its audience to create shared outcomes.

To optimize pipeline attribution reporting, it is crucial to start by aligning sales and marketing to a shared goal such as pipeline. This involves setting realistic metrics, fostering internal collaboration, and having an open dialogue on outcomes. Akansha Aggarwal, Senior Director, Americas GTM at NetApp, and Ruth Connor, CMO and Business Trainer at Coface, emphasized this during their discussion at our recent Reimagine Digital Showcase. Only once you’ve done that will you be able to leverage technology, and advanced analytics to track granular levels of data such as lead source, conversion touchpoints, content, and channels. Some organizations adopt various attribution models such as first-touch, last-touch, or multi-touch models – there are many attribution models you can implement, it all depends on your business.

Here’s a simple 5 step plan for attribution reporting:

1. Identify your shared KPIs / goals early
2. Rrack and monitor how your leads and customers travel through the funnel
3. Connect marketing and sales channels
4. Embrace technology, AI, and automation where possible
5. Maintain an open dialogue with key stakeholders and link every action back to your goals

The secret to building a pipeline in an SME lies in strategic investment in channels that have previously delivered successful pipeline outcomes. Drawing insights from available data is paramount for making informed decisions tailored to the unique context of the SME. According to our latest report, marketing leaders are allocating budgets to brand building (51%), demand generation (49%), and in-person events (48%) as key contributors to pipeline development. Simultaneously, sales leaders prioritize in-person events (68%), demand generation (64%), and sales enablement (42%) as their primary pipeline generators in 2024. The unanimous emphasis on events and demand generation stems from the understanding that decisions are often driven by relationships, valuable and timely information. By aligning investments with these proven channels and leveraging the power of data-driven decision making, SMEs can effectively nurture and expand their pipelines.

The challenges faced by CMOs and CROs in shaping sustainable growth and maintaining a healthy pipeline in 2024 are multifaceted. Our panel discussion highlighted critical aspects such as the quest for a robust product-market fit, the pivotal need for aligning sales and marketing efforts, and the strategic utilization of events for pipeline acceleration. Against the backdrop of market uncertainties, technological disruptions, and a talent crunch, achieving sustainable growth necessitates agile strategies, data-driven decision making, and a relentless focus on customer-centricity. The forthcoming election injects an additional layer of complexity, demanding adaptable strategies to navigate potential impacts on market dynamics and consumer behavior. Notably, our report also shows that 59% of senior executives are erring on the side of caution when it comes to how optimistic they are about the future state of the economy. And 56% are concerned about these macroeconomic influences impacting business activity.

In the coming years, pipeline integrity management will witness notable trends. The integration of AI for predictive analytics is set to revolutionize forecasting, providing insights for strategic decision making and account targeting. Ensuring data accuracy through continuous enrichment, collaborative efforts between sales and marketing, and the adoption of advanced sales technologies are key focal points. As Jessica Deckinger, Operating Partner from Clearhaven Partners, aptly puts it, fostering a strong partnership and open dialogue is crucial. Often, organizations grapple with challenges like ‘leads aren’t good enough’ or ‘not closing enough deals,’ necessitating a willingness to open discussions, receive feedback without defensiveness, and cultivate a shared understanding. Furthermore, investing in skill development initiatives will empower teams to navigate emerging technologies effectively, ensuring a proactive and adaptive approach to pipeline optimization.

Defining a pipeline strategy in 2024 involves a forward-looking approach, incorporating recent insights and industry trends. The panel discussions at our Reimagine Digital Showcase emphasized that businesses are moving from a growth-at-all-costs mentality to sustainable profitability, necessitating a focused and personalized strategy. Notably, insights from Liza Adams, Fractional CMO and AI Advisor, align with the idea of narrowing the aperture, honing in on specific market segments, and understanding your ICP (ideal customer profile) deeply. The shift from a broad to a targeted approach is crucial for effective marketing and sales alignment. By aligning products with the right customers and engaging them meaningfully, businesses can enhance pipeline quality and customer loyalty.

To swiftly transition from form submissions to SQLs, utilize AI tools to analyze behavioral patterns, align content with each stage of the buyer’s journey, implement automated lead scoring, and prioritize high-value leads for efficient follow-ups. Additionally, foster an open dialogue, as advised by Jessica Deckinger, Operating Partner at Clearhaven Partners, and Ruth Connor, CMO and Business Trainer at Coface, through regular feedback loop sessions between sales and marketing. And finally, consider leveraging events as accelerators. Our data shows that events are here to stay, with 93% of sales and marketing leaders prioritizing them in their 2024 strategies. The consensus among our panel at our recent Reimagine Digital Showcase echoed this too emphasizing that depending on the desired outcome, will determine which type of event you need. A comprehensive strategy, combining event leverage, AI-driven insights, collaborative communication, and targeted engagement, optimizes the conversion funnel from form submissions to SQLs.

A shared challenge in pipeline generation for both B2B and B2C is the increasing difficulty reported by industry leaders, with 69% facing heightened struggles in 2023 and 45% expecting more challenges in 2024. Sales and marketing alignment remains a persistent hurdle. Our data shows that the top priorities for B2C and B2B include customer retention, growth, and brand focus. We can see that B2C is investing more in brand (40%), account-based experience / ABX (37%), and digital commerce (20%), while B2B prioritizes in-person events (39%), demand generation (37%), and sales enablement (26%) in 2024. Budget constraints are universal concerns, with B2C citing lack of budget (36%) and B2B facing challenges of lack of time / resource (25%) and the general economy (22%). This underscores the importance of addressing alignment issues, ensuring you are investing your budget strategically, and focusing on the shared need to build meaningful relationships.

In the challenging landscape of 2024, AI, as highlighted by Liza Adams, Fractional CMO and AI Advisor at GrowthPath Partners, emerges as a transformative force. Liza outlines its impact on customer behaviors, emphasizing the need for diversified engagement beyond traditional search avenues. The report echoes the call for a technology-driven approach, highlighting ethical AI use and transparency. Liza’s insights on the ‘paradox of digital hunger’ align with the report’s focus on human connection amid increased digital engagement. The overarching need for seamless experiences across platforms, stressed by Liza, resonates with the report’s emphasis on technology streamlining workflows. During our Reimagine Digital Showcase, Liza underscores that AI enhances marketing by aiding organizations in identifying the right customers and tailoring products to meet their needs, aligning with the broader industry shift toward customer-centric strategies. In 2024, AI stands out as a crucial enabler, reshaping search, personalization, ethical considerations, and the quest for human connection.

Liza Adams, Fractional CMO and AI Advisor at GrowthPath Partners, sheds light on the transformative role AI is set to play in the future of sales. Her insights underscore the potential of AI platforms and applications in providing substantial support to salespeople and sales leaders. As technology reshapes the sales landscape, Liza highlights key areas where AI can make a significant impact. AI-powered tools can enhance lead prioritization, automate routine tasks, and offer valuable insights for more informed decision making. The evolving role of AI in sales aligns with the broader industry trend, emphasizing efficiency, data-driven strategies, and personalized customer interactions. Liza’s expertise positions AI as a cornerstone in shaping the future of sales, with platforms and apps serving as invaluable allies for sales professionals and leaders alike to focus and shorten sales cycles.

In-person events are undeniably crucial for B2B pipeline strategies, and insights from both Jessica Deckinger, Operating Partner at Clearhaven Partners, and Tim Cassidy, Editor and Presenter at GDS Group, at our Reimagine Digital Showcase underscore this significance. With 93% of sales and marketing leaders incorporating events into their 2024 strategies, the consensus is clear: events are here to stay. Tim highlighted the distinctive value of in-person events by emphasizing the importance of side conversations. He shared that these interactions, where attendees delve into personal aspects such as families and job challenges, establish connections that are challenging for digital interactions to match. Leveraging these insights, in-person events not only contribute to relationship-building but also foster an environment conducive to accelerating B2B pipelines by establishing meaningful connections and conversations. Jessica highlighted the value of 1-to-1 connections in an environment where finding leads through traditional methods like search is challenging. Jessica underlined that events provide an opportunity for partners to conduct outreach, expanding possibilities with individuals potentially ready for engagement. The effectiveness of events, however, hinges on robust post-event follow-up, reinforcing the idea that events are powerful tools for delivering tangible results to the pipeline.

In the evolving landscape of B2B marketing, strategic budget allocations reveal key priorities. In our latest report, we uncover that marketing leaders are prioritizing brand development (51%) for a strong identity, while emphasizing demand generation (49%) to drive high-quality leads. Notably, in-person events (48%) retain significance for face-to-face interactions. Sales leaders align their investments with a focus on in-person events (68%) for relationship-building, alongside demand generation (64%). Sales enablement (42%) highlights a commitment to arming the sales team effectively. Cat Anderson, Head of International Marketing at Sprout Social, emphasizes that the success of channels in the B2B space varies based on objectives and audience. Cat goes on to say that a robust attribution system is crucial for gauging channel effectiveness, and experimentation plays a key role in optimizing strategies. Social media data is often underutilized but holds valuable insights into prospect engagement. Additionally, ABM (account-based marketing) and ABX (account-based experience) strategies, especially tailored 1-to-1 or 1-to-few campaigns, showcase effectiveness. A holistic approach, where different channels work seamlessly together, is emphasized for better results. Despite the effectiveness of various channels, the challenge lies in avoiding silos and ensuring cohesion in marketing and sales efforts.