Is the recession affecting B2B marketing?

B2B marketing strategy in recessionary times

Despite the current mild recession, most Dutch marketers continue to believe in their B2B marketing strategy. The majority (60%) think they can get through the recession with a little creativity.

The majority believe that a strong brand supports long-term sales. Almost three quarters of them therefore do not plan to cut branding budgets. These professionals believe that companies that maintain or increase their spending on B2B marketing during periods of economic uncertainty will recover faster.

Budgets for B2B marketing

Perhaps this opinion is also the reason why Dutch professionals are the only Europeans who expect an increase in spending (22%) more often than a decrease (20%) for B2B marketing.

In fact, about half of Dutch B2B marketers say that their budgets have already been affected in some way by the current economic conditions. Globally, that percentage is the same.

23% of senior marketers who have to work with a smaller budget say the company does not understand the ROI of B2B marketing. Their biggest challenge: demonstrating that B2B marketing campaigns are effective and measuring the return on marketing spend.

Goals B2B marketing campaign

Over the next six months, B2B marketing campaigns will, according to senior decision-makers:

• boost existing and new customer relationships (50%)
• show how the company helps customers in these times (39%)
• Demonstrate that a company takes sustainability seriously (36%)
• build customer relationships and improve trust (28%)

Tips for B2B marketing

Looking at these results, I see four ways in which a B2B marketing agency can help achieve more results in times of (mild) recession.

1. Supplement your own creativity
   Plan a brainstorm with someone from another department who has an opposite character and perspective on your company's contribution. In doing so, go back to core values and stay away from all the 'standard brand language'. You will also be assured of fresh perspective and a creative concept for your B2B marketing campaign if you hire a B2B marketing agency that specialises in creative communication such as Centagon.
   
   
2. From outbound to inbound marketing
   Move from mass marketing to one-to-one marketing. So no more radio ads, TV commercials or bus shelters, but targeted search engine ads tailored to someone's search term and the stage of their customer journey, social media ads based on buyer personas and remarketing display.
   This way, your brand is visible to those who matter. Once consumer confidence improves and people dare to buy again, you have already influenced their brand preference. Centagon's strategists will be happy to help you with this shift in B2B marketing strategy.
   
   
3. Use marketing automation software for lead nurturing
   One-to-one marketing is not just about attracting new prospects. Make sure that people who have already visited your website once and at least prospects whose contact details you already have are shown personalised content. That way, you can use website content or automated emails to make sure they see the right message at the right time and they can continue their customer journey with you.
   
   
4. Use a CDP to demonstrate marketing ROI
   Demonstrating results and ROI of B2B marketing to management is and will remain a top priority. Often, B2B marketers are already immensely satisfied if they can show the short-term effects of B2B marketing campaigns in figures. After all, this already gives them some evidence that their marketing efforts are paying off.
   
   Chances are you also find it difficult to demonstrate how much faster or more often people become customers as a result of your marketing efforts. Logical, because demonstrating long-term marketing ROI is very complex. However, by using an all-in-one tool as a customer data platform, CMS and marketing automation tool for a longer period of time, you will be able to quantify the ROI of B2B marketing. Centagon's seasoned specialists can help you do just that.