The b2b Benchmark Report 2023 Final
The b2b Benchmark Report 2023 Final
B2B Marketing
Benchmark
A global look at the state
of B2B marketing
June 2023
B2B continues its ascent
B2B is undergoing a renaissance as business models, innovation drivers
and buyers evolve dramatically from decades prior. Now some of the most
profitable companies across the globe are B2B companies.
Jim Habig
And while many in the business community cite serious concerns over Vice President, Marketing
economic turmoil and rising global uncertainty, B2B leaders are largely LinkedIn
optimistic about the fate of their organizations and the role of marketing
in helping them grow.
The B2B Marketing Benchmark uncovers the trends and practices fueling
this optimism: Marketing budgets on the rise worldwide; Excitement among Melissa Furze
B2B leaders about emerging technologies like Generative AI; Growth Senior Director, Customer Science
in adoption of creative and technical skills that will help marketers meet LinkedIn
the demands of these emerging technologies and trends.
What follows is a meticulously researched perspective on how B2B
organizations can lead (and succeed) through uncertainty. We reveal
key areas of opportunity, what B2B leaders need to do to thrive in a rapidly
changing environment and how they should plan for the long term.
To understand the
evolving landscape
and opportunity in B2B, U.K. Germany
Our perspective is challenges being faced by senior-level B2B marketers globally. The large sample size allows for confident projection of results and
analysis of subgroups of the target audience.
We also did an analysis of 1,000 B2B Brands to understand how B2B companies are faring in this environment. We used our B2B Index,
backed by data from a new LinkedIn metric that measures effective brand building, to identify the 1,000 B2B companies we could analyze in aggregate to
determine B2B trends on LinkedIn.
Total 1,954 374 19% 1,203 62% 377 19% 1,577 81% 751 38%
U.S. 350 50 14% 250 71% 50 14% 300 86% 100 29%
UK 351 51 15% 250 71% 50 14% 301 86% 101 29%
France 277 46 17% 178 64% 53 19% 224 81% 99 36%
Germany 276 52 19% 174 63% 50 18% 226 82% 102 37%
Singapore 150 29 19% 88 59% 33 22% 117 78% 62 41%
Australia 150 46 31% 62 41% 42 28% 108 72% 88 59%
India 200 50 25% 100 50% 50 25% 150 75% 100 50%
Brazil 200 50 25% 101 51% 49 25% 151 76% 99 50%
1 B2B Budgets & Outlook
Overview
We look at several factors driving 2 The B2B Marketing Organization
• Evolution of the CMO
B2B organizations today – the
budgets they’re working with, • Key B2B Marketing Skills
the outlook they have for the future, • Diversity, Equity & Inclusion
the organizational structures
they’re building and the strategies
they’re using to drive growth.
3 B2B Marketing Strategies
• Building & Measuring Brand
• Marketing Channels & Tools
• Generative AI
Key Findings 1 Global B2B leaders are hopeful about the future.
Around half of B2B leaders say they are optimistic they will be able to drive revenue in the coming
In helping their companies flourish year. This optimism may be fueled by increasing budgets.
in such a difficult environment, B2B
marketing leaders face a tough road
2 B2B marketing budgets are up, a finding that's largely
ahead. But they are resilient and up to
the challenge. During the past few years,
consistent worldwide.
While some minimal differences exist, B2B leaders across regions expect budgets and spending to
B2B marketing leaders have found new increase in the coming years.
ways to drive influence, impact and
growth across their organizations.
3 B2B leaders are using creative skills to succeed.
Creative strategy and problem solving are among the top skills B2B marketing leaders identify
as important for their current role and are skills they identified as strengths. Marketing leaders
1. Base size: n=1954
report these skills will continue to be needed in the future to succeed.
OUTLOOK: Which of the following best describes how you feel about the likelihood of
whether your marketing team’s efforts will drive business revenue in the next year?
BUDGETCHANGEFUTURE: How do you predict your (top client’s) company’s B2B
Budgets are up
worldwide and B2B
leaders are feeling
optimistic about their
ability to drive
revenue for their
companies.
Despite the uncertain economic The Top Trends Shaping Global B2B Budgets
environment, current and future • Overall, 6 in 10 say budgets have increased in the past year.2
B2B budgets are increasing. • Over 2 in 3 say budgets will increase in the next year.3
1. https://www.ipsos.com/en-us/three-five-small-businesses-say-rising-prices-have-forced-them-seek-out-more-capital
2. Base size: Total (n=1954); APAC (n=500); N. AMER (n=350); LATAM (n=200); EMEA (n=904)
BUDGETCHANGEPAST: How would you describe the change in your company’s / your top client’s B2B marketing budget compared to one year ago?
52%
45%
24%
21%
8%
4%
1%
Increase 25+% Increase 1-24% Stay the same Decrease 1-24% Decrease 25+%
Base size: Total (n=1954); CFO (n=377); CMO (n=374); Senior Manager – President (n=1203)
OUTLOOK: Which of the following best describes how you feel about the likelihood of whether your marketing team’s efforts will drive business revenue in the next year?
Ricky Abbott
President, Transmission
3. Base size: Total (n=1954); Tech (n=443); Education (n=259); Financial Services (n=346); Health (n=226); Professional Services (n=283) Agency (n=400)
BUDGETALLOCATIONCU.S.TOMER: Now, please rank the following types of business in order of how much of your (top client’s) B2B marketing budget is allocated to each, with 1 being the largest portion of the budget and 2 being the smallest.
Base size: Global (n=1954); APAC (n=500); NA (n=350); EMEA (n=904); LATAM (n=200)
BUDGETALLOCATION: Please rank the following objectives in order of how much of your / your top client’s B2B marketing budget is allocated to each, with 1 being the largest portion of the budget and 4 being the smallest.
72% 74%
71% 70% 71% 71% 71%
67% 68% 67%
59%
41%
33% 32% 33%
29% 30% 28% 29% 29% 29%
26%
15%
Overall Tech Financial Agency Health Education Professional Overall N.AMER LATAM EMEA APAC
Services Services
Generating New Business Retaining Existing Customers Generating New Business Retaining Existing Customers
Base size: Overall n=1954; Tech n=443; Financial Services n=346; Agency n=400; Health n=226; Education n=259; Professional Services n=283; NAMER n=350, LATAM n=200; EMEA n=904; APAC n=500
BUDGETALLOCATIONCU.S.TOMER: Now, please rank the following types of business in order of how much of your / your top client’s B2B marketing budget is allocated to each, with 1 being the largest portion of the budget and 2 being the smallest.
The role of CMO has increased most The CMO has increased
significantly in the APAC region.
74%
67%
in importance in the eyes of
members in the C-suite,
65%
62%
59%
≈
leading to evolving role
changes, most notably in
impact to the bottom line. 2
1. Base size: Global (n=751); APAC (n=250); NA (n=100); EMEA (n=302); LATAM (n=99)
CMOIMPORTCSUITE: Compared to two years ago, how, if at all, has the importance of (your/the CMO’s) role changed in the eyes of other members of the C-suite? If you were not in your current role two years ago, please provide your best estimate based on your knowledge of the company's history.
Learning the language of finance has helped me secure more marketing budget 80% The majority of CMOs say learning the
language of finance has helped them
secure more marketing budget (80%).
I try to involve as many C-Suite members in B2B marketing decisions 79%
Incorporating Emerging
46% 36% 32% 54% 40%
Technology
Boosting Customer
33% 30% 38% 34% 35%
Engagement
Base size: Global (n=751); APAC (n=250); NA (n=100); EMEA (n=302); LATAM (n=99)
CSUITECHALLENGES: Which of the following B2B marketing challenges are you personally most concerned about in the next one to two years?
Incorporating emerging
technology, like AI, into the 40%
into the marketing mix marketing mix
Boosting customer
35%
2 in 5 CMOs are
concerned about
incorporating emerging
is the second biggest
engagement/experience
technology, like AI,
Proving value of marketing
30% into the marketing mix.
1 #Marketing 1 #Innovation
2 #Business 2 #Marketing
Source: LinkedIn Internal Data – Based on data in total global marketers in top 1K B2B companies. Time Range: Jan 2023 – Apr 2023.
Key B2B Marketing Skills
Source: LinkedIn Internal Data – Based on skills data in total global marketers. Time Range: Jan 2023 – Apr 2023.
great importance.
Analytics Mastery 49%
Sales 36%
24%
Source: LinkedIn Internal Data – Based on skills data in total global marketers in top 1K B2B companies. Time Range: Jan 2023 – Apr 2023.
Creative Skills Added to Profile
Source: LinkedIn Internal Data - Based on total skills for marketers from 2021-2022
Marketers have been adding more creative and
essential skills to their LinkedIn profiles than ever before.
Social Media #3 #8
Source: LinkedIn Internal Data - Based on total skills for marketers from 2021-2022
B2B marketing leaders also rely on emotional intelligence skills
and soft skills in order to succeed in their current roles.
Most Important Skills For B2B Marketers In Current Role
Marketing Technology /
61% 56% 60% 78% 61%
Data Analytics Mastery
Base size: Global (n=1577); APAC (n=375); NA (n=300); EMEA (n=751); LATAM (n=151)
SELFSKILLIMPORT: In your opinion, which of the following skills are most important for you in your current role?
Source: LinkedIn Internal Data – Based on skills data in total global marketers. Time Range: Jan 2023 – Apr 2023.
say Marketing technology /
Source: LinkedIn Internal Data – Based on skills data in total global marketers in top 1K B2B companies. Time Range: Jan 2023 – Apr 2023.
Country Breakdown: Fastest-Growing Skill by Country
UK: Briefing
Germany : KPIs
Source: LinkedIn Internal Data – Based on skills data in total global marketers. Time Range: Jan 2023 – Apr 2023.
Diversity, Equity &
Inclusion (DEI)
The continued prioritization of DEI in
marketing organizations will enable better
and more informed decision-making.
Additionally, factoring DEI into marketing
content and advertising campaigns
will also help B2B organizations
connect with a larger audience.
Over 8 in 10 (85%)
agree DEI is important
to their company.
• Respondents in APAC (90%)
are more likely than respondents
in all other regions to say DEI
is important to their company
(NA 81%, EMEA 84%, LATAM 83%).
Base size: Total (n=1954); APAC (n=500); NA (n=350); EMEA (n=904); LATAM (n=200)
DEIIMPORT: How important is diversity, equity, and inclusion to each of the following?
T2B –Very important/Somewhat important
Chris Bagnall
CEO & Founder, Transmission
Base size: n=1954
DEICAPACITY: Does your company have an official capacity that focuses on diversity, equity, and inclusion? This could include a DEI team,
official DEI policies, special committees, or dedicated events.
Source:
https://www.ipsos.com/sites/default/files/ct/publication/docum
ents/2021-04/21-04-53_Forget_pov_v3.pdf
Research conducted by Ipsos in 2021.
Research conducted by Ipsos, March 2023 to May 2023.
B2B Marketing
Strategies
The most important avenues for
reaching B2B customers and prospects.
B2B Marketing
via content and event marketing has
become more important than ever.
Strategies
And even though B2B marketers are
realizing that emerging technologies, such as
generative AI, will help them to deliver more
impactful, personalized campaigns in the
near future, much of the marketing potential
of AI continues to go unrecognized.
Building & Measuring Brand
B2B leaders see value in building brand
and view brand-building efforts as
a creative way to generate revenue.
“ The best revenue generating
campaigns are also Over 6 in 10 B2B marketing
those that are the most leaders say their companies
unconventional. When have increased spending on
we’ve run some tests that growing brand awareness.2
could have been seen • Globally, 59% of B2B marketing leaders say their
as ‘risky’, the performance C-suite has increased the importance of brand
building given economic conditions.
was usually better than for
conventional campaigns.”1 • A significantly higher percentage of CFOs believe
their company has the right creative skills on their
Director, UK marketing team to support brand building efforts,
compared to CMOs (79% vs 68%).
Base size: Total (n=1577); APAC (n=375); NA (n=300); LATAM (n=151); EMEA (n=751)
BRANDMEASURE: How does your top client/do you measure brand health?
Research conducted by Ipsos, March 2023 to May 2023.
Research conducted by Ipsos, March 2023 to May 2023.
Marketing Channels & Tools
B2B marketing leaders cite the effectiveness
of both in-person and digital channels,
demonstrating the need for a multi-faceted
approach to reach key buying groups.
“ In today’s economic environment
it is important for B2B companies
to generate new leads and
grow their business. The top channels
[The] key to this is leveraging for B2B marketing
the most effective channels, • In-person events (60%), video (59%), thought
techniques, and tools to meet leadership (57%) and digital events (49%)
are the top channels B2B marketing leaders
marketing objectives.” 1
are looking to leverage in the next year.2
In-person Events
60%
Online Communities
37%
Podcasts
36%
Generative AI
26%
Base size: Global (n=1577); APAC (n=375); NA (n=300); EMEA (n=751); LATAM (n=151)
CHANNELS. What B2B marketing techniques (does your top client/do you) plan to use in the next year?
Usage of LinkedIn Platform in the Past Year 1 Usage of LinkedIn Platform in the Next Year 2
65% 65%
28% 29%
6% 5%
Increase Stay the same Decrease Increase Stay the same Decrease
71%
67%
64%
61% 60%
56%
50%
48% 48%
41% 40% 40%
37%
32% 31%
30%
26% 27%
Gen AI Thought Video Influencer Online Podcasts In-person Events Digital Events Hybrid Events Display Ads
Leadership Marketing Communities
30K
25K
+142% Increase
Volume of Posts (Millions)
20K
15K
10K
5K
K
Q1 Q2 Q3 Q4 Q1
2022 2023
rise in popularity
5 #Jobs 5 # Innovation 5 #AI
throughout Q1 ’23.
6 #RealEstate 6 #AI 6 #Innovation
10001+
5001-10000
1001-5000
501-1000
Top 201-500
Company Sizes 51-200
11-50
1-10
Myself Only
Senior
Entry
Director
Manager
Owner
Top CXO
Seniority VP
Partner
Training
Unpaid
0% 5% 10% 15% 20% 25% 30% 35%
0% 5% 10% 15%
% of Posts
2.60%
AI or ML skill 2.20%
1.20%
AI
1.00% Machine Learning
0.80%
1/1/18 4/1/18 7/1/18 10/1/18 1/1/19 4/1/19 7/1/19 10/1/19 1/1/20 4/1/20 7/1/20 10/1/20 1/1/21 4/1/21 7/1/21 10/1/21 1/1/22 4/1/22 7/1/22 10/1/22 1/1/23
Sources: LinkedIn 2020 Search and Staffing U.S. Emerging Jobs Report; OECD.ai Policy Observatory Dashboard, 2022
Many B2B marketing organizations are already leveraging AI applications.
Just under 1 in 2
B2B marketing leaders
are currently using AI
applications for business
marketing activities.
Base Size n=1577
CURRENTLYU.S.EAI: Are you currently using any AI applications in your/ your top client’s business marketing activities?
Increase efficiency Generate more Create optimized Build more creative Gain competitive Generate more Increase efficiency Create optimized Build more creative Gain competitive
so I can focus on content in less time and engaging campaigns advantage content in less time so I can focus on and engaging campaigns advantage
higher-value work content that higher-value work content that
resonates with resonates with
target audience target audience
“AI will not replace you – strong growth in the coming decade.
2. Buchholz, K. (2023). “ChatGPT Sprints to One Million Users”, statista.com. https://www.statista. com/chart/29174/time-to-one-million-users/
Seize the Day If the pandemic proved anything, it’s that B2B marketers are
resilient and are finding new ways to drive influence, impact and
growth across their organizations. Emerging technologies such as
Generative AI make it more important than ever for B2B marketers
to be able to merge art and science to develop bold and
dynamic campaigns. The time is now – and our results show
that B2B marketers are up to the task.