LinkedIn’s recent report, titled ‘The B2B Marketing Benchmark,’ reveals that a significant majority of B2B marketing leaders in India (over 80%) are anticipating growth in their marketing budgets in the coming year.
Moreover, an impressive 87% of these leaders have expressed their intention to increase the utilization of generative AI to enhance efficiency and create engaging content. The survey highlights that brand building has gained increased importance within the C-suite, with 70% of B2B CMOs acknowledging its elevated status.
To demonstrate the value of brand marketing to CEOs and CFOs, B2B CMOs have prioritized becoming “financially fluent” by understanding the language of finance (reported by 74%) and strengthening their skills in this area (cited by 88%). Encouragingly, 50% of CFOs from B2B organizations in India are optimistic about marketing’s ability to drive revenue in the upcoming year, thereby providing further support to B2B marketers.
Among the key objectives for India’s B2B marketing leaders is the championing of creativity in campaigns to enhance mental availability, with 51% emphasizing its importance. Notably, these leaders express confidence in having the appropriate creative skills within their teams to support brand-building efforts, with 79% affirming this.
LinkedIn’s B2B Marketing Benchmark
LinkedIn’s data reveals a substantial 46% increase in creative skills displayed on marketers’ LinkedIn profiles globally in the past year. The most crucial skills identified by B2B marketers in India include creative strategy, innovative thinking, and problem-solving, as well as expertise in advertising and marketing tools and technology and data analytics.
“B2B marketers have expertly navigated economic uncertainty by acquiring greater financial acumen and sharpening their skills to help their CFOs and business leaders recognise the importance of brand building in staying top of mind in a complex macroeconomic environment. Capitalising on this trust, marketers are also increasing their investments in generative AI to become more efficient and inject more creativity in their campaigns,” Ashutosh Gupta, India country manager, LinkedIn, said.
To assist B2B companies in their brand-building endeavours, measuring effectiveness, and forging new connections with audiences, LinkedIn has introduced a range of innovative products and services. One notable offering is AI-generated copy suggestions, which leverage generative AI and data from an advertiser’s LinkedIn Page to create introductory text and headlines for ad creatives.
“Our composite score takes into account the most important features of a strong B2B brand: creative quality, investment and audience intent. We’re using this index to analyze best-in-class B2B work, and, very soon, we’ll be launching a leaderboard to celebrate the organizations that stand out for their brand work,” said Jim Habig,VP of Marketing, LinkedIn.
Additionally, LinkedIn has launched the CMO Scorecard, a measurement program delivered through its consultancy arm, B2B Edge. This program enables B2B marketers to benchmark creative impact and media performance against competitors, showcasing how current brand advertising investments enhance the efficiency of recruiters, marketers, and sellers.
Moreover, LinkedIn now provides In-Stream video ads, allowing businesses to amplify their campaign reach and engage with professional audiences across the platform’s network of publishers. Lastly, thought leader ads enable brands to sponsor posts by their thought leaders, facilitating communication through a trusted voice and fostering the development of brand equity.
LinkedIn’s new offerings empower B2B companies in the UK and beyond, providing them with valuable tools to bolster brand building, effectively measure their marketing efforts, and establish meaningful connections with their target audiences.
“It’s great to see B2B leaders continue to show that marketing is a real driver of commercial growth for their companies. This is underpinned by a unique combination of resilience and creativity that their teams display, including embracing new technologies,” Antonia Wade, global chief marketing officer, PWC, said.
To download the ‘The B2B Marketing Benchmark,’ report click here.