A LinkedIn study released today (19 October) has found that despite a clear impact on budgets, 67% of senior B2B marketers have indicated that brand building remains a priority, with a majority of 76% remaining optimistic about their marketing strategies over the next 6 months.
The professional social media platform’s global B2B Marketer Sentiment study surveyed over 1,700 B2B marketing leaders found a clear divide in optimism between Europe and the rest of the world; with Indian (94%) and American (91%) marketers the most positive about their strategies, compared to only 56% of British and 50% of German marketers.
Over the coming years, the key major challenges facing B2B marketers were identified as; doing more with less, measuring campaign effectiveness, proving ROI and attracting and retaining talent.
Other key findings were that over the 6 months, B2B marketing campaign objectives will be centred showing customer how companies are helping them through the crisis (40%), demonstrating that a brand is purpose-driven (37%) , and showing that they are serious about sustainability (38%).
“Despite economic headwinds, it’s positive to see B2B marketers remain optimistic about their strategies as they navigate through uncertainty,” LinkedIn Marketing Solutions senior director EMEA and LATAM, Tom Pepper said.
“Pausing ad spend can seem like a cost-saving measure, but savvy marketers know that recovering from a drop in memorability and recall can be far more costly in the long-term. Focusing efforts on brand building can be fruitful, especially as competitors pull back.
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He continued: “It is clear that the biggest challenge facing marketers right now is proving marketing ROI to the business, which is crucial to strengthening future budgets. There is a strong need for more education around marketing effectiveness so the true value that B2B marketers deliver is clearly understood.”
IPA director of marketing strategy, Janet Hull OBE added: ““As evidence from our comprehensive IPA Effectiveness Databank attests, investing in longer-term, brand-building, creative and emotionally-led communications activity builds memory structures which in turn drives brand recognition, engagement and overall marketing effectiveness.
“We therefore welcome these optimistic findings that the majority of B2B marketers will continue to invest in their brand in times of uncertainty.
She concluded: “Equally, we know from our evidence of previous economic downturns that maintaining such activity created a competitive advantage for brands that helped them report higher average profit and better market share growth when the economy recovered.”
