B2B marketing leaders in India are showing an optimistic view of energy, after a year of tighter budgets and heightened pressure. Over 9 in 10 are bullish on their team’ performance to drive revenue in the year ahead, and more than 8 in 10 expect budgets to increase, according to the latest research conducted by Linkedin, the world’s largest professional network and leading B2B advertising platform.
Linkedin’s 2024 B2B Marketing Benchmark – A study of 2000+ B2B marketing senior finance leaders from across the globe, conducted ahead of the 2023 Cannes Lions International Festival of Creativity- finds that while 76% of B2B CMOs in India have struggled to reach buyers due to competing demands, the majority agree that relationships are key to success, which is why building “collective confidence” amongst purchasing decision – makers will be important in the year ahead.
FINANCIAL INFLUENCE ON BRAND BUILDING:
As B2B brands want some green shoots of recovery, 70% of B2B CMOs say brand building has been sublimed in importance by the C- suite as companies look to win share in the present climate. They want, on average, 17 meaningful interactions with a company before completing a purchase. B2B is successful when it is just meant for one relationship or connection, building collective confidence among the buyer group,including decision makers and brands who influence a purchase decision, is the main key.
To make these connections and stay at the top of the field, creativity is most important. 86% of B2B marketing leaders have focused on thriving on their own bolder creativeness, and 69% agree that it is helping them improve brand engagement and drive transformations.
MARKETERS TOP THE LIST OF AI- LITERATE PROFESSIONALS:
Working professionals are concentrating on AI adaptation and building AI proficiency as they help to improve ROI. 3 in 4 B2B senior marketing leaders in India are already using generative AI applications in their marketing activities and profiles, and they share that it has helped them accelerate content creation by 43%, be cost effective by 39%, and improve productivity by 38%.
There has been a tremendous gain of 142% in Linkedin members across the globe by mentioning AI literacy skills in their profiles, with marketers topping the list, A Linkedin data source reveals. Artificial intelligence is one of the fastest growing digital skills for CMOs globally, based on the skills CMOs mentioned in their Linkedin profiles last year.
Sachin Sharma, Director,Linkedin Marketing Solution, India, said, “The significance of cultivating relationships and building a strong brand cannot be overstated. The B2B landscape and growing buyer influence have made it even more crucial for marketers to target larger groups. That’s why building collective confidence is essential and will help with brand recognition and sustained engagement. In the long run, a balanced approach that integrates creativity, relationships, and wise financial decisions-ensuring investment aligns with measurement ROI – will help B2B marketers find success and maintain a competitive edge.”
Linkedin introduces some innovative programs to help B2B marketers to reach and engage all members of the buying groups and boost collective confidence:
The Wire Program:
Linkedin is going to test the wire program, a new initiative that allows brands to promote in-stream video ads alongside trusted publisher content on Linkedin. It will increase by 45% year over year on uploading videos for Linkedin. The wire program is being tested with a limited number of publisher’s, like Barron’s, Bloomberg, Linkedin News etc. The purpose of Yahoo Finance is to help marketers reach buyers who are grabbing more digital videos. This program is available in all languages for the global advertisement that you want to set up content sponsorships with the selected group of publishers.
EXPANDED AI CAPABILITIES IN ACCELERATE:
Accelerate is a new function going to be added to Linkedin. It’s an AI campaign creation and optimization offering. Through Accelerate, marketers can draft engaging creatives with Microsoft designers and refine their targeting by allowing marketers to remove companies and third-party lists. They can also expect good guidance on their campaign creation from our new AI market assistant. Advertisers already using Accelerate making campaigns are 15% more efficient, and driving a 52% lower cost per action than with classic campaigns. The new functional features include:
TELLING BRAND STORIES IN NEW WAY WITH AI:
Linkedin has launched the Accelerate campaign, integrated with Microsoft designer, to help marketers build and customize creatives. Marketers can describe what they would like to see or upload their own image, to get started with it. The Designer has to choose from the multiple options with varied imagery and text overlays, which they can further customize with their own logo imagery.
HELPING COMPANIES BRING THEIR DATA INTO ACCELERATE TO ENHANCE TARGETING :
Accelerate uses AI to promote brands and bring their data together, like conversion or customer lists, with Linkedin’s platform data to find people who are more likely to take action with their ad campaign targeting exclusion,like third-party lists.
CMO SCORECARD :
Linkedin is introducing the CMO scorecard, a new measurement program through consultancy B2B Edge, to help B2B marketers benchmark creative impact and media performance against competitors, and exhibit how current brand advertising investment improves recruiter,marketer, and seller efficiency.
IN-STREAM VIDEO ADS:
Customers can click into in-stream video ads to scale their campaign reach and connect with professional audiences across Linkedin’s network.
THOUGHT LEADER ADS:
This option can allow brands to sponsor their thought leader’s post, helping them communicate through a trusted voice to build brand equity and focus on top of the mind.
PAGES MESSAGING:
Linkedin is adding a new feature, the ability for members to connect organically with other organizations through Pages messaging. This option will help members and pages on Linkedin to communicate directly with each other about the topics that matter a lot to them, like products and services, job listings, and other business inquiries.
AUDIENCE INSIGHT API:
This audience insight API helps agencies and marketing technology companies build solutions that help marketers discover and understand their target customers to make more effective, relevant campaigns.youtube
