Challenge 1: Brand awareness and pipeline progression
From establishing a distinctive identity amidst fierce competition to effectively communicating value propositions to niche audiences, building and maintaining brand awareness was noted as an ongoing challenge for B2B marketers attending Forrester 2024.
Added to that is the challenge of measurement and demonstrating results – because while marketers know that brand awareness lays the foundation for attracting potential leads, the B2B buying process (long sales cycles, multiple decision-makers, and intricate purchasing processes) makes converting this awareness into actionable pipeline progression complex. Attendees shared that there are often unrealistic expectations around time and tangible metrics like lead generation and conversion rates.
Challenge 2: Measurement and attribution
The ability to accurately measure and attribute the impact of marketing efforts remains a persistent challenge for B2B marketers. And with multi-channel campaigns spanning various departments (all of which are focused on different objectives) attendees shared that determining which initiatives drive tangible results often creates an extra layer of complexity.
Multiple platforms and technologies make it hard to establish consistent measurement standards, and with many B2B transactions occurring through direct sales interactions, making it challenging to track digital marketing efforts' direct impact.
Challenge 3: Customer Knowledge
“Know thy customer.”
Every marketer knows the importance of that phrase, and for good reason: understanding the intricacies of customer behavior and preferences is key for driving impactful marketing campaigns. But, as we heard at Forrester, getting comprehensive customer knowledge has become increasingly challenging. The deluge of data (often housed in various platforms and tools) along with ever-evolving consumer trends makes it hard to gain a 360-degree view.
And without a clear understanding of who the customer is, how to reach them, and what they want to hear, there is an increasing risk of marketing that misses the mark—and ultimately causes a disconnect between the company and its audience.
Challenge 4: Data
B2B companies are collecting more customer data than ever before… but Forester attendees shared that harnessing the power of data effectively remains a significant hurdle.
Not only does this create a challenge in identifying and reaching their ideal customers, but it can also hinder informed decision-making about the next steps in building customer value.
Challenge 5: Silos, time and budget
From cross-functional alignment (particularly between product marketing, marketing, and sales) to systems, technology, and customer data, attendees shared that silos remain a common challenge.
Additionally, time and budget constraints often hinder the thorough planning and execution required for successful campaigns.
The Year we Transform Demand
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