NEWS: ‘Access to existing customer data’ top challenge for marketers
Other top challenges that cause marketers to struggle with their current marketing objectives are ‘marketing alignment with sales’ (90 per cent), ‘fragmented marketing systems’ (83 per cent) and ‘limitations with current technologies' (80 per cent).
The research, based on 750 mid-sized B2B companies, looked into the allocation of marketing resources and budget, application of tactics, and the results obtained at each stage of the customer lifecycle.
Respondents were divided into two categories: ‘average B2B firms’ and ‘top performers’. Top performers were B2B companies that beat their 2013 revenue goals while 90 per cent of customers were satisfied.
The study found that average-performing brands spent 67 per cent of their time and 54 per of budget on activities that support awareness and acquisition, with 70 per of revenue from acquisition. Yet, top performing B2B brands spend 22 per cent less time and 15 per cent less budget on these stages. These companies focus more on retention and expansion.
Meanwhile, top performers frequently personalised messaging by stage in the lifecycle, versus only 39 per cent of average performers. In addition 75 per cent adjusted messaging based on prospect behaviours, while 42 per cent of average companies did this.