20.7
22.4
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Lorem ipsum dolor
23.4
M
1
$
Find it difficult/very difficult to make the case for marketing investment
%
45.5
Product and marketing manager, AJ Products
Laura Supple
As a business, the marketing strategy needs to leave room for multiple players in the customer journey. It needs to be highly targeted and highly adaptable. Like B2C marketing it is also changing rapidly, but B2B businesses have generally been slower to adapt and keep up with the times. The biggest challenge lies in convincing an experienced senior team that we must do things differently than they did in the past.
Global CMO, Intuit Mailchimp
Michelle Taite
Marketers today are increasingly expected to deliver more impact with fewer resources. Each investment must be carefully considered and maximised. And to build trust within your organisation, you’ve got to consider both short- and long-term goals.
Vice-president for community and B2B marketing, Finimize
Max Rothery
B2B marketing is often more challenging to get buy-in for and there’s a few reasons for this. Unlike B2C, where feedback loops are short and the impact of campaigns can be measured in real time, B2B sales cycles can span months, if not years. This delayed feedback makes it more difficult to prove the immediate ROI of marketing initiatives.
11. Winning the investment battle
Despite focusing on data, ditching jargon and using the ‘language of the boardroom’, marketers are still struggling to secure the investment they need.
The battle to win over the CEO and CFO to secure much needed investment, particularly for brand marketing, remains a challenge.
Given the complexity and growing length of the sales cycle within B2B, it is often difficult for marketers to present the short-term ROI many finance chiefs are looking for. Bridging the gap between marketing activities and tangible business outcomes that resonate with key stakeholders is the main issue marketers must contend with.
The pressure to deliver short-term ROI - coupled with wider economic pressures and uncertainty - is having an impact on budgets, as marketers are expected to deliver more for less. As a consequence, over a third (34.9%) of the B2B marketers surveyed say their budget has decreased over the past 12 months.
• Starting with data is key. Marketers are advised to conduct an audit of the strengths and weaknesses of the current strategy, highlighting any gaps in the marketing mix. Take this data to the CFO to show where potential lies for growth, while also sharing necessary context about how the sales cycle and marketing channels are evolving.
49.6
%
34.4
%
Securing investment would be easier if the business saw the value in marketing beyond simply driving leads
Lorem ipsum dolor
If the CEO and CFO had a better understanding of marketing it would be easier to gain investment
Lessons
%
Having a seat on the C-suite would help me secure investment
%
It would be easier to secure investment if the CEO and CFO were not solely fixated on ROI
%
If the CEO and CFO understood marketing metrics it would be easier to gain investment
• Bringing customer insight into the conversation can be powerful, especially around how the buying committees within businesses are becoming more complex. This insight into customer behaviour helps build the case for long-term brand building, moving the discussion away from short-term thinking and a preoccupation with lead generation.
• Forming a closer working relationship with the CEO, and particularly with finance, can only help. According to our analysis, over a third (35%) of the sample has formed a stronger bond with the CEO over the past 12 months, while a quarter (25.9%) have a closer relationship with the CFO than they did a year prior.
• Ultimately, it comes back to speaking the language of finance, from ROI and growth to acquisition and retention. Taking marketing specific language out of the conversation helps demonstrate the team are strategic thinkers who take a holistic view of the business. Removing any silos between marketing and finance is key.
Marketers on making the case for budget