According to new Forrester research, B2B CMOs are increasingly playing a critical role in driving sustainable and profitable growth for their companies. They are steering their firms through cultural and societal changes—including shifting macroeconomic factors and a changing workforce—all of which have important implications for their company’s growth strategy.
The firm’s 2022 marketing survey also reports that B2B marketing decision-makers indicated “addressing changing buying behaviors” as their most important priority over the next 12 months. Amid this broader dynamic, B2B CMOs must redefine how marketing delivers value to its key stakeholders. Leading CMOs are leveraging technology and data to shape their corporate strategy, collect and activate customer insights, and create a sense of purpose for their brands.
At the recent B2B Summit North America, Forrester analysts unveiled new research and frameworks to help B2B CMOs redefine marketing’s mandate. Key insights:
The power of purpose
Just like B2C customers, B2B customers bring personal awareness and preference to the buying process. In fact, 83 percent of B2B marketing leaders indicate that brand purpose is important to new buyers. B2B companies that successfully serve the needs of all their key stakeholders, including employees, customers, investors, and the community, will outperform their peers.
Seize the strategic high ground
Even though B2B CMOs are the ones armed with all the information and analysis on the customer, fewer than 35 percent of CMOs surveyed in the survey said that they were always involved in corporate strategy development.
Unlocking growth and creativity: Marketing in an insights world
With 67 percent of marketing decision-makers likely to implement or expand digital transformation efforts over the next 12 months, the volume of data will continue to grow. Technology, AI, and automation can provide a step change for marketers, surfacing insights to help marketers make better decisions and optimize customer interactions across touchpoints and channels.
Smarter demand, scalable ABM: B2B marketing’s next evolution
The number of B2B marketing and sales leaders who desire demand and ABM to fully aligned—sharing people, processes, and tools—has increased from 54 percent in 2020 to 82 percent in 2022. This intersection is intensifying. The explosion of technology has been pivotal to making demand smarter and ABM at scale possible.
“More than ever before, B2B CMOs need to play a pivotal role in driving the longer-term growth agenda of their organizations,” said Sharyn Leaver, chief research officer at Forrester, in a news release. “To do this, leaders need to not only manage external realities but also navigate through their own organizational constructs. As a result, creating a clear vision forward is not always easy. At B2B Summit North America, we will unveil new research and insights to help leaders break down that complexity to develop future outlooks that engage all stakeholders.”
This research was unveiled at Forrester’s B2B Summit North America.