Highlights of the LinkedIn B2B Benchmark 2024 Report
The LinkedIn B2B Benchmark 2024 Report explores trends in the evolving B2B marketing landscape by surveying over 2,000 B2B marketing leaders from eight countries. The report focuses on how B2B marketers are adapting to new challenges, leveraging technology, and evolving their skill sets to remain competitive. Here are the key highlights:
1. The Evolving Role of B2B Marketers: Agility and Adaptation
The B2B marketing landscape is changing dramatically, demanding more agility and data-driven decision-making. The report highlights that marketing teams of the future will not only need traditional marketing skills but also be well-versed in cutting-edge capabilities such as AI, customer experience (CX) management, and data analytics. Marketing leaders now face the challenge of creating versatile and multidisciplinary teams that can handle this increasingly complex environment.
Key Insight: Today's marketers are confident in their ability to adapt but recognize the need to boost agility and cross-functional collaboration across their organizations. CMOs, in particular, are focused on ensuring alignment between marketing strategies and broader business goals.
2. Technology Leadership: AI and AR/VR at the Forefront
Technology is more critical than ever, with AI (Artificial Intelligence) emerging as a key enabler of marketing efficiency and creativity. The report shows that 66% of B2B marketers actively use generative AI (GAI), a 20% increase since 2023. AI is primarily being leveraged to accelerate content creation, improve efficiency, and offer personalized experiences at scale. However, AI adoption faces notable barriers, particularly the skills gap, with 43% of respondents citing a lack of internal expertise as a significant challenge.
AR/VR (Augmented Reality/Virtual Reality) technologies are also being adopted, with 35% of marketers already using them and 34% planning to adopt them within the next year. This highlights a growing focus on immersive brand experiences that boost customer engagement.
Key Challenges: Marketers are struggling to balance AI's benefits with its inherent challenges, including concerns over privacy, the risk of plagiarism, and the lack of human touch in AI-generated content. AI's robotic nature is perceived as a limitation, with 40% expressing concerns about losing the human element in marketing.
3. Creative Vanguards: A Bold New Era for Brand Building
Creativity remains at the heart of effective B2B marketing strategies. According to the report, 67% of B2B marketers have increased their investment in brand building. CMOs are pushing for bolder and more innovative campaigns, with 88% advocating for creative approaches that stand out in a crowded marketplace.
Key Impact: Over 70% of respondents reported that their creative efforts led to higher engagement, while 55% stated that improved creativity enhanced their share of voice (SoV). The focus is increasingly on creating experiential marketing that resonates deeply with target audiences, thus driving brand loyalty and purchase intent.
Content Trends: Video content continues to dominate, with short-form social videos delivering the highest ROI. Visualization, including infographics and data visualizations, is also a key tool for marketers to communicate their message effectively.
4. The Data-Driven Marketer: Measuring Impact and Proving ROI
Data is at the core of decision-making for modern B2B marketers. 59% of respondents say they have the right technology to measure marketing activities, but there are ongoing challenges in proving ROI, especially within tight timelines. Nearly 2 in 5 marketers are pressured to demonstrate quick results, often leading to a focus on short-term metrics over long-term brand building.
Key Insight: 82% of B2B marketers feel confident in demonstrating their impact to the C-Suite, but measuring buyer journey stages remains difficult. Data analytics and AI skills are in high demand, with a sharp rise in marketers adding data interpretation skills to their LinkedIn profiles.
Top Priority: Marketers are focusing on expanding their teams' data literacy and improving data analysis capabilities to ensure their strategies are both effective and measurable.
5. Customer-Centric Marketing: A Renewed Focus on CX
Customer experience (CX) is a growing priority for B2B marketers, with a shift from acquisition to retention. The report reveals that 60% of B2B marketers are prioritizing new customer acquisition, while 40% are focusing on customer retention. However, there’s a clear recognition that retention strategies and brand loyalty are becoming essential to long-term success.
Key Focus: CX budgets are increasing, as companies see to create seamless and personalized experiences across touchpoints. CTV (Connected TV) is emerging as a top medium for delivering personalized and engaging content, with 55% of marketers planning to increase their use of CTV in the coming year.
6. Investment in Talent Development: The Skills Gap
The skills gap is a persistent challenge, especially when implementing new technologies like AI. Despite this, B2B marketers are heavily investing in training, focusing on boosting left- and right-brain skills. This includes problem-solving, adaptability, and innovative thinking—all deemed critical for success over the next two years.
Future Talent: Marketers are increasingly valuing skills over education, highlighting the need for practical, hands-on experience. Additionally, 43% of respondents identified innovative thinking as the most important skill for the future.
7. Cross-Functional Collaboration and Organizational Alignment
Another key theme in the report is the growing need for collaboration between marketing and other business functions. 54% of B2B marketers cite synergies between sales and marketing as a driver of success. CMOs are also expanding their influence, with 69% reporting that their role has grown in importance and 36% now having a direct impact on driving revenue and company strategy.
CMO Influence: The report highlights how CMOs strengthen relationships across the C-Suite, especially with CFOs. 77% of CMOs report having stronger relationships with finance teams, a critical aspect of proving marketing's contribution to growth and revenue.
8. Diversity, Equity, and Inclusion (DEI) as a Strategic Imperative
The focus on DEI (Diversity, Equity, and Inclusion) is expanding within B2B organizations, with 60% of CMOs increasing investments in DEI initiatives. These efforts span across hiring practices, inclusive campaigns, and accessible content. While strides are being made, there is still room for improvement, particularly in addressing the underrepresentation of marginalized groups.
Challenges: LGBTQ+ initiatives are underrepresented, and only 7% of respondents prioritize hiring from marginalized groups. This suggests a need for a more robust commitment to inclusive hiring practices and creating diverse teams.
Conclusion
The LinkedIn B2B Benchmark 2024 Report underscores the rapidly evolving nature of B2B marketing. Balancing traditional techniques with innovative technologies is crucial for staying competitive. Marketers must focus on data-driven strategies, invest in creative and bold brand-building efforts, and nurture collaborative relationships across the organization. As AI, AR/VR, and CTV continue to shape the future of marketing, organizations prioritizing agility, customer-centricity, and talent development will lead in this increasingly complex landscape.
Read the report in full here.
