According to a 2023 industry report, the market growth for B2B companies is surging, with analysts predicting it will grow by 14.1% over a five-year period. This would make the industry worth $18.7 billion by 2027.
Part of the field’s growth can be attributed to innovations and changes being made within B2B marketing. Marketing efforts have helped the industry reach new clients and better understand the needs of its audience. That makes it crucial for B2B stakeholders to keep current on the latest marketing trends in order to remain competitive.
Here are three key B2B marketing trends for 2023 worth watching.
An Increased Emphasis on Future-Proofing
The B2B sector has slid into a recession over the past couple of months. Marketing and sales have been impacted by the economic downturn, with many companies looking to downsize to reduce costs — Goldman Sachs is one major firm that just laid off 3,200 employees for this reason. When it comes to preparing for recessions and talent shortages, companies need to invest their marketing capabilities by upskilling team members.
By future-proofing through mobilization, B2B marketers will be able to develop more efficient and effective ways of working. For example, they will be able to better leverage technology to employ more sophisticated and advanced B2B marketing techniques, increasing their brand’s mindshare with clients. And considering how 80% of sales interactions will happen digitally in 2023 and beyond, it is clear that B2B marketing professionals will be looking into furthering their capabilities to more fully utilize this ecosystem in 2023.
More Digital Content
To choose the right partners, businesses seek to work with firms that are knowledgeable about their industries and can cater to their needs. Research shows that a whopping 60% of companies spend more time researching potential partners than meeting with them. This has caused a rise in the amount of digital content B2B organizations generate.
But choosing what kind of content you produce is vital to set your company apart from the competition. Podcasts have become a popular channel for promoting B2B marketing thought leadership, improving brand awareness, and networking with clients. Hosts can speak about relevant industry trends or interview key players within in their fields, recording not only informative but reliable content that improves brand credibility and trustworthiness in the minds of potential clients.
Alternatively, some key insights on event marketing trends found that 37% of B2B marketers are increasing interested in utilizing brand influencers. Working with notable industry figures will certainly be used more this incoming year, as influencer marketing has shown the ability to increase brand awareness and buyer trust.
The Active Integration of Web3
The popularity of blockchain and decentralized data processing has brought new capabilities to online business. With 25% of all businesses predicted to invest in Web3 in 2023, many of these innovations are finding their way to B2B marketing operations.
Most B2B marketers are adopting this emerging technology slowly, such as by holding meetings with potential partners in the Metaverse and exploring other uses for virtual reality (VR) and augmented reality (AR).
Immersive, 360-degree 3D meetings deliver a better sense of togetherness than plain old video conferencing. Ads can also be placed within this digital environment, replacing out-of-home marketing. By adapting to the new landscape Web3 has to offer, B2B marketers will be able to reach prospective customers in new ways.
As trends change and technology evolves, it’s crucial that B2B marketers continue to learn, experiment, and adapt. These three B2B marketing trends for 2023 will impact results and practices beyond the coming year.
Brit Tucker is a part-time writer and a full-time mom. An experienced marketing manager, she likes to use her skills to shed light on trends, forecasts, and best practices within the business world. When she isn’t working, she loves to bake desserts with her kids.