Integrate, a company that specializes in precision demand marketing, released “The State of B2B Marketing Budgets 2022,” which revealed insights into how marketers are responding to economic headwinds. The research was conducted with Demand Metric, a global research and advisory firm.
The report found that nearly 60% of B2B marketers reported that their current budgets are being cut or staying flat, and two-thirds of marketers are expected to accomplish the same or more with fewer resources. Despite those challenges, 80% of B2B marketers surveyed reported having a neutral to optimistic outlook for 2023.
“The State of Marketing Budgets” found that the top driving forces behind marketing budget shifts were from inflation and economic recession. Only 27% reported that ABM/ABX is a key part of their strategy and are instead focused on:
- A buyer-driven and cross-channel strategy (54%);
- An always-on approach (43%); and
- Traditional demand gen (43%).
Furthermore, marketers plan to invest the most in:
- Digital marketing (48%);
- Content creation (47%); and
- Customer marketing (46%).
“B2B marketing has always been hard, but today, marketers are tasked with the impossible: They’re expected to do more with less,” said Colby Cavanaugh, SVP of Marketing at Integrate, in a statement. “There’s never been a better time to invest in greater precision, reduce redundancies and focus on adopting a more powerful, buyer-driven, cross-channel precision demand marketing approach to maximize your marketing efforts.”
Integrate also recently launched its new book, “Precision Demand Marketing: Achieving the Promise of Predictable Pipeline,” which provides a practical, hands-on approach to adopting a buyer-driven, omnichannel precision demand marketing strategy.