B2B Organizations Encounter Challenges Associated With Budget and Resources

B2B Organizations Encounter Challenges Associated With Budget & Resources

This unprecedented era sees B2B marketing leaders’ alignment with sales in order to meet the growing market challenges.

B2B digital marketers are working more actively than ever to generate a return-on-investment; however, they still face diverse challenges amid the evolving consumer preferences in this pandemic-induced digital era.

A recent study from Fortella indicates that B2B marketers confront various complexities as they seek to reach their revenue goals as well as marketing objectives. According to the data from the “State of B2B Marketing 2021” report, budget and resources (about 64%) top the list of top marketing challenges.

B2B brands are stacked against as marketers attempt to establish an ROI. The other vital aspects are measurement or tracking (46%), quality of data (42%), and talent (36%). In fact, sales and marketing associations (with nearly 33%) have also made it to the list – this is a significant area that companies have been attempting to develop upon for the past several years.

Also Read: Three Ways B2B Marketing teams are Failing their Martech Solutions (And How to Fix Them)

Given the current market outline, only a part of B2B digital marketers can successfully collaborate with sales – in order to deliver the right content at the right time (for converting leads). Today, it is no secret that this sudden digitization has long been a crucial element for sales teams’ achievement.

This was valid even before the disruptive technologies made digital transformation a widespread imperative. Indeed, in the face of the on-going pandemic, digital selling is more prominent than ever before.

Again, a similar new study from Altimeter reveals that about 47% of the top-performing B2B marketers have said the same. Only 36% of B2B marketing decision-makers noted that marketing, sales, and service teams efficiently work together to accommodate the sellers with real-time data intelligence upon the prospect activity.

This is suitable for finding cross-functional alignment in order to accomplish a seamless customer experience – which is often made possible through leadership alignment and other business factors.

As organizations build digital excellence, boundaries between sales and marketing teams are most likely to blur. Certainly, as sales become more digital-focused and data analytics, it will invade what modern marketing’s territory is.

Also Read: Three Leadership Strategies for CMOs to Promote a CX-Driven Company Culture

Many companies plan to move inside sales into marketing, and as a result, sales operations taking a more decisive role while lead prospecting. It is even likely to diminish the significance of a marketing-centric lead.

According to the “State of Digital Selling” study from Altimeter – “The COVID-19 pandemic has accelerated the adoption of digital selling, and we found top performers were using digital tools to outperform less digitally mature sales organizations. While the pandemic has added focus to transform sales digitally, it has also laid bare the challenges businesses face as they transition.”

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