European B2B marketers are charting their course through a multifaceted and shifting terrain. Confronted with fluctuating economic climates, inefficiencies in processes, data management hurdles and recruitment challenges, these decision-makers are tasked with driving customer-obsessed growth through both enhanced efficiency and a strong emphasis on innovation to stay ahead in the game.
Delving into insights from Forrester’s Marketing Survey, 2024, we uncover that:
- Data insights and technology are pivotal in offsetting constrained budgets. 72% of European B2B marketing leaders anticipate an uptick in their overall marketing budgets, but this optimism is slightly tempered compared to the 80% of their global counterparts. While most leaders expect budgets to grow, this growth mostly aligns with inflation, therefore keeping growth flat. To navigate the evolving business landscape, European B2B marketers must harness market and customer data to pinpoint current opportunities and assess marketing efficacy. Continually assessing capabilities and managing resources to adapt dynamically to market shifts is crucial. In addition, leveraging integrated marketing technology can mitigate staffing constraints through the automation of processes.
- A spectrum of priorities emerges among European B2B marketers. Among the top priorities are enhancing B2B revenue and growth through partner ecosystems/channels, bolstering product-led growth (PLG) strategies, and amplifying efficiency and effectiveness by synchronizing marketing plans, metrics, data, technology, and processes with all components of the revenue engine. Moreover, in a bid to nurture innovation, 29% of European marketing pioneers are prioritizing the adoption of AI capabilities, striking a balance between efficiency and innovation.
- Addressing region-specific demands is critical. European B2B marketing decision-makers face distinct priorities compared to their global peers, with notable divergences in marketing strategies, growth tactics, and budget allocations for 2024 across France, Germany, Italy, Spain, and the UK. It’s imperative for marketing leaders to tailor their approaches to align with the unique market and regional requisites. An upcoming blog post will explore further insights into regional-specific strategies.
Eager to dive deeper? Check out the complete report “European B2B Marketers Prioritize Efficiency, Customer Focus, And Innovation” on forrester.com.
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