New year. New strategies.
Between longer sales cycles, bigger buying committees, and must-have tech stacks (all in an uncertain economy), 2023 is sure to bring us all kinds of change. With 82% of B2B marketers finding success with account-based strategies, how to reach target accounts, engage with audiences, and speak to customers will be anything but familiar.
Here are 7 predictions on how B2B marketing will look in 2023.
1. Rise of the new CMO
There are new chiefs in town and they are millennials, particularly women in revenue. 65% of millennials make up the majority of B2B buying committees and are climbing the corporate ladder to become tomorrow’s new CMO. This generation grew up in a digital world and doesn’t mind rolling up their sleeves when it comes to doing their own research before even agreeing to a sales meeting. These buyers have higher expectations with a focus on unique personalized experiences. With fit, intent, and engagement now more important than ever, optimizing your channels is a must to reach these future leaders.
2. Acceleration of revenue marketing & demand generation
The demand for maximum performance with minimal resources will hit an all-time high this year. This will only accelerate revenue-focused marketing leadership and reduce the money invested in non-hyper-targeted channels.
Expansion will become the new-NEW business, making the line between revenue marketing and demand generation very thin. More of an emphasis will be on preserving revenue through retention and expansion efforts over acquiring net new customers.
3. Efficiency for the win
Discretionary marketing budgets, sales headcount, and software costs will continue to be scrutinized closely in 2023. This will push all GTM leaders to critically evaluate the way in which they acquire customers, including increasing their focus on the technology that helps them prioritize the right accounts. B2B companies beware, It may feel like you have fewer “in-market” accounts than in prior years, so the risk of wasting resources on accounts that won’t buy is much higher. To avoid this, double down on the ‘95-5’ rule. Shift your focus to getting in front of the 5% of in-market accounts that are ready to buy now. Keep in mind, if you’re not actively pursuing this 5% of in-market accounts, it's inevitable that your competitors will swipe them up first.
4. Time to flex on customer success
Customer success is important any day of the week, but especially in a downturn. Customers will demand more value and will magnify expected outcomes. Customer Success managers (CSMs) will find themselves defending their existing customer base while investing time to map account orgs, track stakeholders, and focus on building real relationships. With so many companies stretching budgets, CSMs will have no choice but to up-level their sales skills from pricing basics to contract negotiations. Intent signals like page views and product usage will be amplified as key ID signals for upselling and cross-selling opportunities.
5. Dial to the dollar
Sales teams will become more strategic than ever giving a whole new meaning to the phrase “time is money.” Before even making a cold call they must be ready with information insights to give prospects the best possible buying experience. As a sales rep ask yourself, “What is my velocity? What and where are my levers to optimize?”
6. Meet buyers in the middle
Get out of old habits. Successful companies will prioritize meeting potential buyers where they are. This approach will only accelerate their win and renewal rates. The motion in which you acquire and retain customers has to be flexible, empathetic, insightful, and most importantly, clearly illustrate how you are helping them win in a challenging macro environment.
7. Leverage partnerships as a growth lever
Partnerships are emerging as a cost-efficient growth lever that impacts across all areas of a business. Partnerships drive better product experiences, more co-marketing, greater sales opportunities (that close faster and at higher rates), and, ultimately, more education and customer success.
About the Author
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