B2B Marketing Blog - TopRank®

Why B2B marketplaces are now a mainstream digital commerce sales channel [Report]
B2B marketplace sales climbed by 131 percent in 2021, reaching $56.5 billion, making them the swiftest-growing eCommerce channel, with sales expected to reach some $130 billion in 2022, as 57 percent of B2B buyers noted that they were buying more from digital marketplaces during the pandemic, according to recently-released report data. Digital Commerce 360

The Top Challenges B2B Sales Reps Face Early in the Sales Cycle
30 percent of B2B sales professionals have said that getting prospect data to begin conversations was their top challenge, while 38 percent noted that personalizing sales presentation messages to prospects was their leading pain point — two of several findings of interest to B2B marketers contained in newly-released survey data. MarketingProfs

B2B customer journeys that begin at review sites are significantly shorter
B2B buying journeys average 192 days in length, dropping by 63 percent when a buyer’s first touch is with a review website, while the buying process is significantly longer than average when first-touch channels are social or paid media — three of several findings of interest to B2B marketers contained in newly-released report data. MarTech

Why personalization is more important than ever for brands [Report]
62 percent of consumers have said brands that don’t deliver personalized experiences will lose their loyalty, a figure that’s up seven percent from rates in 2021, while some 63 percent said they are fine with brand personalization efforts as long as they use voluntarily-shared first-part data, according to recently-released survey data. SmartBrief

Meta and Google’s hold on digital advertising loosens as TikTok and others gain share
Google and its YouTube business combined with Meta and its Facebook and Instagram platforms combined to account for 53.4 percent of all U.S. digital advertising spending, a figure that is expected to fall to 50.5 percent in 2022 and predicted to drop to 47.7 percent by 2024, according to newly-released forecast data. The data also showed that between 2020 and 2023 nine additional platforms will have become $1 billion advertising businesses. eMarketer

The Brand Lessons That Are Having An Impact This Year In B2B
B2B brands are seeing success using some of the techniques and styles typically reserved for B2C marketing efforts such as multichannel customer communication and an increased focus on environment, social and governance (ESG), and Forbes explores some of these shifts. Forbes

What’s Standing in the Way of B2B Companies Providing A Great Customer Experience?
When it comes to providing great customer service, 46 percent of U.S. B2B professionals have said that poor collaboration between teams was the leading challenge, followed by 42 percent who pointed to disparate team goals, and 33 percent who singled out the lack of a unified customer view — some of the statistics of interest to B2B marketers contained in newly-released survey data. MarketingCharts

TrustRadius’ new B2B report – The age of the self-serve buyer is here [Annual Report]
Nearly all B2B buyers have said they want all or at least part of their buying journeys to be self-serve — a rate up 13 percent from 2021, while 41 percent of those in the Gen Z and Millennial demographic said that their first step in buying was checking review sites — two of several findings of interest to digital marketers featured in recently-released report data. B2B Marketing