The Global LinkedIn A study of over 2,000 B2B marketing leaders in Australia and other key markets presents some interesting findings, including that 58% of B2B marketers are using generation AI in their marketing activities to improve ROI and productivity.
Main image: Amy Mills, Director, Marketing Solutions, LinkedIn
After a challenging year marked by tighter budgets and increased pressure to prove ROI, B2B marketers in Australia are showing renewed optimism. Nine in 10 (90%) are optimistic about their team’s ability to generate revenue in the coming year, and about three-quarters (72%) expect budgets to increase, according to a new study from LinkedIn.
The research, conducted ahead of the 2024 Cannes Lions International Festival of Creativity, reveals that while 71% of B2B marketing directors in Australia found it difficult to focus on what matters most – reaching buyers – due to so many competing demands, the majority (93 percent) agree that building relationships is key to success, which is why building “collective trust” among procurement decision-makers will be crucial during the coming year.
“B2B decision-makers buy from brands they’ve heard of, which is why brand building is essential in B2B: it helps improve recall. With so many people involved in B2B purchasing, it is possible to effectively build “collective trust” between all members of the buying group through bolder creative campaigns, which will be the key to success during the year coming soon,” said Amy Mills, director of marketing solutions. , LinkedIn.
B2B buying cycles are long, emotion-driven, and typically involve six to ten stakeholders in the buying group, and require an average of 17 meaningful interactions with a company before finalizing a purchase.
Creativity is key to staying ahead: almost three-quarters (72%) of Australian B2B marketers have focused on developing bolder creative, and 57% agree it helps them improve brand engagement and generate conversions.
Marketing professionals around the world are leading the charge in adopting AI and building AI skills, while seeking to improve ROI. 58 percent of B2B marketers in Australia are already using generative AI applications in their marketing activities, and they say it has helped improve productivity (40 percent), speed up content creation (39 percent ) and generate savings (30 percent). hundred).
LinkedIn data reveals that there has been a 142-fold increase in the number of LinkedIn members globally adding AI skills to their profiles, with marketers topping this list. “Artificial intelligence” is the fastest growing digital skill for CMOs globally, based on the skills CMOs have added to their LinkedIn profiles over the past year.
“After feeling the pressure to continually prove ROI over the past year, B2B marketers are now making the case for building the brand and taking it to the next level. This will allow them to discover new audience segments and improve campaign recall and performance,” added Mills.
To help B2B marketers reach and engage everyone in the buying group and build collective trust, LinkedIn features:
- The Wire Program: As video downloads on LinkedIn grow 45% year-over-year, LinkedIn is testing the Wire Program – a new initiative that allows brands to promote In-Stream video ads alongside content from a trusted publisher on LinkedIn. The Wire program is being tested with a limited number of publishers, including Barron’s, Bloomberg, Business Insider, Forbes, LinkedIn News, MarketWatch, NBCUniversal, Reuters, The Wall Street Journal and Yahoo! Finance to help marketers reach buyers who increasingly consume digital video. The Wire program is available in all languages for global advertisers who want to set up content sponsorships with this select group of publishers. At launch, the Wire program will not offer targeting of EU members.
- Accelerating Expanded AI Capabilities: LinkedIn is introducing new accelerating features: its AI campaign creation and optimization offering. Now in Accelerate, marketers can write engaging creatives with Microsoft Designer and refine their targeting by allowing them to exclude businesses and third-party listings. They can also get advice on creating their campaign from our new AI marketing assistant. Advertisers already using Accelerate create 15 campaigns percent1 more efficiently and drive a 52 percent lower cost per action2 than traditional campaigns. New features include:
The 2024 B2B Marketing Benchmark Report will be launched at the Cannes Lions International Festival of Creativity on Monday June 17.
