B2B & B2C Marketers Embrace MarTech to connect with customers and prospects 1:1.
As more and more B2B & B2C marketers embrace MarTech, the battlefield becomes more even and the messages and content being offered and delivered are more important than ever. Prospects and customers voices are bigger, broader and instant thanks to social media platforms. Research shows that 60% of customers are likely to switch brands if a company isn’t socially responsible. And, 80% of business professionals believe companies have a responsibility to not only generate a profit but to make an impact on society. As a result, more B2B and B2C marketers are turning to purpose-driven marketing — positioning that represents an organization’s greater purpose and beliefs.
Here’s an overview of how emerging marketing channels, organizational changes, and technologies are disrupting the status quo.
B2B & B2C Marketers Embrace MarTech – Tech Makes Marketing Waves
B2B & B2C Marketers expect increased usage of MarTech over the next 2 years — from IoT/connected devices to lead scoring tools. High-performing marketing organizations tend to be heavier MarTech users, with most reporting that their current MarTech stack aids collaboration, increases productivity and drives a 360 degree view of customer data. The best-in-class marketers also point to data management platforms as the most essential tool for 1-to-1 marketing across every touchpoint.
High performing B2B & B2C Marketers rely more heavily on an array of MarTech. High performing B2B & B2C Marketers report using, on average, 15 out of the 17 tools and technologies – under performers average 8. Even though top B2B & B2C Marketing teams are using more technologies, they’re making a greater effort to ensure the end messages they’re sending customers are more coordinated across channels.
B2B & B2C Marketers Embrace MarTech – Collaboration and Productivity
Top marketers see better results from their current tools and technologies.
More than 8 out of 10 high performing B2B & B2C Marketers communicate that their current MarTech stack is very effective at achieving the following attributes:
- Collaboration across the business,( across sales, service, and marketing) 88%
- Collaboration across marketing functions 88%
- Increased productivity 86%
- Better analytic insights 86%
- Improved marketing efficiencies (automating tasks, etc.) 86%
- More efficient spending 85%
- More cohesive view of customer data 85%
While Under Performing B2B & B2C Marketers communicate that their current MarTech stack is:
- Collaboration across the business,( across sales, service, and marketing) 30%
- Collaboration across marketing functions 27%
- Increased productivity 36%
- Better analytic insights 31%
- Improved marketing efficiencies (automating tasks, etc.) 32%
- More efficient spending 35%
- More cohesive view of customer data 32%
B2B & B2C Marketers Embrace MarTech – Essential Marketing Tools and Technologies
Marketing strategies emphasizing personalized interactions with customers to foster greater loyalty and better return on marketing investment are key for B2B & B2C marketer’s to optimize 1:1 marketing.
The top two factors that are most essential to delivering highly personalized interactions for B2B & B2C marketer’s are CRM and marketing analytics/ measurement tools. The high performing B2B & B2C marketers communicate that the most essential technology to achieving 1:1 marketing is a DMP, defined as a centralized system for collecting, integrating, and managing data from disparate sources. Underperforming B2B & B2C marketers focus on data targeting and segmentation which implies that they have not matured to designing, developing and implementing 1:1 strategies
High performers report that a DMP is their most essential technology for delivering personalized customer interactions. Marketing analytics/measurement tools maintain a strong presence among all performance groups. Most Essential Tools and Technologies to Create 1-to-1 Marketing across Every Touchpoint
- Data management platform
- Customer relationship management system
- Marketing analytics / measurement tools
- Data targeting and segmentation
- Marketing analytics / measurement tools
- Guided selling (opportunity ranking by potential value, sales activity effectiveness)
B2B & B2C Marketers Embrace MarTech – Marketing Embracing the AI Revolution
AI continues to impact and promise to impact marketing. In fact, AI is the leading MarTech that B2B & B2C marketers expect the most growth in the next two years – 53%. AI is attracting attention for its existing, emerging and future marketing use cases. Just over half (51%) of marketing leaders have already implemented and over 25% plan AI pilots it in the next two years. 72% of high performing B2B & B2C marketers report a current use case – product recommendations and predictive lead scoring.
Significant AI Growth Starts Now
- 64% say AI has greatly or substantially increased their overall marketing efficiency
- 57% of marketers using AI say it’s absolutely or very essential in helping their company create 1-to-1 marketing across every touchpoint
- 57% of marketers expect AI will substantially impact automated social interactions using chatbots and interfaces
B2B & B2C Marketers Embrace MarTech – AI Expected to Transform Marketing
Areas Where Marketing Leaders Expect AI Will Have a Substantial or Transformational Impact on Their Business over the Next Five Years
Internally, B2B & B2C marketers see AI as a means of creating more efficiency in their operations. In terms of customer-facing benefits, most B2B & B2C marketers view AI as a way to get more from their data and personalize their marketing without burdening their teams.
- Productivity of marketers Campaign analytics
- Digital asset management
- Business insights across data and systems
- Lead scoring
- Hyper-personalization of content Dynamic landing pages and websites Delivering the right message, on the right channel, at the right time 61%
- Hyper-personalized product recommendations Programmatic advertising and media buying Predictive journeys
- Hyper-personalization at scale Customer segmentation / lookalike audience modeling
- Sentiment analysis
B2B & B2C Marketers Embrace MarTech – Roadblocks to More Intelligent Marketing
While top marketing teams have privacy and data concerns around initiating AI, underperformers lack a defined AI strategy and the skill sets to back it up.
B2B & B2C marketers are very optimistic about AI, but many are grappling with what it means for their business. And, while AI is on the tip ofB2B & B2C marketers’ tongues, roadblocks still exist. The obstacles to executing an AI strategy vary by performance level. High performing B2B & B2C marketers are more likely to encounter AI challenges that include customer privacy concerns or wrangling data stored in separate systems. Underperforming B2B & B2C marketing teams state that their AI strategies are derailed by budget constraints and lack of internal skill sets.
Primary Roadblocks for High Performing Marketing Leaders Face in Executing an AI Strategy
- Customer privacy concerns
- Budgetary constraints
- Data is stored in disparate systems
Primary Roadblocks for Under Performing Marketing Leaders Face in Executing an AI Strategy
- Budgetary constraints
- No defined AI business strategy
- Lacking the right internal skill set (e.g., too few data scientists)
B2B & B2C Marketers Embrace MarTech
High performing B2B & B2C Marketers view data management platforms as the most essential and fundamental investment to execute a go to market strategy that is based on 1:1 marketing across every touchpoint. Artificial intelligence (AI) is the leading technology for B2B & B2C marketers. Marketers view AI as the path to create more efficiency in their operations, to get more from their data and ramp up personalization without burdening their teams.