Personalization is one of the crucial elements for B2B marketers. Many interesting insights came up from the latest report, titled, “The State of Personalized B2B Marketing 2020” sponsored by Folloze.
More than 77% of B2B marketing and sales professionals think that personalized marketing experiences create enhanced customer relationships. And another 55% of respondents said marketing personalization drives higher rates of sales conversions and long-term growth, says the report.
LinkedIn’s Stories Experiment – How B2B Marketers Can Use it to Their Benefit?
In 2020, for B2B businesses to connect with a wider audience on a deeper level, more marketers are opting for personalization technology – which can integrate into the digital channels. The company conducted an online survey of around 205 marketing and sales professionals in participation with Propeller Insights, within February 26 and March 1, 2020.
Randy Brasche, VP of Marketing at Folloze as reported to have said in a statement – “Today, Account-Based Marketing practices are mainstream across most B2B enterprises. At the same time, research suggests that sales and marketing professionals understand the value of personalized marketing…As companies double down on Account-Based Marketing, many are still struggling to achieve the level of personalization at a scale that customers expect.”
However, 42% of the surveyed professionals revealed that their marketing operations are not completely personalized. Over 39% reported their on-going personalized marketing strategy is somewhat sophisticated, and about 15% said it is not at all sophisticated. The challenges for personalization may be attributed to technological competencies. Nearly 60% said they have not implemented artificial intelligence (AI) or machine learning (ML) for personalizing marketing efforts. Meanwhile, more than 21% of the respondents revealed that their organization does not use data on the existing customers to personalize for increasing sales.
Top B2B Marketers Focus on Delivering High-performance Digital Experiences
The majority of the surveyed marketers noted the challenges of marketing personalization in the B2B ecosystem. Over half of the respondents, 54% said it’s tough to get personalization rightly in B2B than in B2C marketing. About 51% attributed that sentiment to the notion is easier in B2C to reach potential customers – with 37% saying said B2C marketers have better data, 30% for having more budgets, and 28% said it’s for being more digital.
It is no secret that there is a thin line between the B2B and B2C buyers – and personalization in B2B marketing is not an easy chore. The remaining B2B market leaders need to understand the value of individualization and go the extra mile – to streamline their business operations and fuel long term growth.
