After a year of collective belt tightening across B2B tech, now is the time to double down on your investment in top of funnel brand awareness. New research from TrustRadius and Pavilion indicates that while 2023 had buyers focusing mainly on the potential ROI of their purchases ("prove it or lose it"), in 2024, buyers are leaning more heavily on trust, transparency and brand when making decisions. But there's a disconnect. Just as buyers are shifting their focus to trusted brands, brands themselves have failed to adapt, with many allocating less of their discretionary marketing spend toward top-of-funnel brand awareness initiatives (an average of 38%) and more to demand generation (an average of 53%). The full report will be officially published on June 10, but I've got a sneak peek for you 😉 . Check it out below to get all the data ⤵ and learn why now is the time to double down on brand. #marketing #brandawareness #kathleenhq
Trust has always been a factor in any relationship, with varying degrees of intensity (from light to high); we are in an environment now where trust is a strong variable in determining if (and how) a relationship evolves. Ask: How would you describe your trust factor with clients? Meaning, your team does what they say they do and deliver the outcome(s) promised and affirmed by other clients who have first-hand reference. Trust is constantly tested << and, it is yours to build & protect (100%) Looking forward to the insights in this report
I love the name - "The Year of the brand crisis". It perfectly describes the current situation - Buyers are becoming savvier and self-directed in their research, they love to educate themselves through content on the internet. At the same time, the number of options they have are growing. On the company's front, services are getting commoditized, and B2B products are converging on themselves. So ultimately it comes down to - Which brand do I have an affinity for? Which brand do I resonate with? Which brand do I trust the most? I see the need for B2B companies to adapt to this becoming paramount going forward.
This is reflective of what I've heard from my fellow B2B peers—tried and true acquisition tactics are less effective, as they go up against well educated buyers who have already formed some opinions. I wonder if it's also why many businesses are adopting more product-led strategies to let customers test-drive solutions. The report also underscores why it's so important to position correctly—being the trusted partner that helps someone achieve success is more resonant now than the "all-in-one solution for (insert vertical here) businesses." The Story Brand framework is a great one to adopt for these times!
I'll look forward to reading through it a second time. In the first pass I'd have to agree with Millie Beetham on not worrying about drawing hard lines between branding and demand gen. Brand awareness should be perennial and strongly present from the top of the funnel to the bottom. While interesting, commentary such as this promotes the 'this or that' recommendation that keeps marketing in a state of flux and disarray. As noted, vendors view their greatest challenge as "sales and marketing effectiveness" (24%). Address the challenge by first defining, with consensus, what 'effectiveness' means. One hint: it should always include branding.
Great insights! You mentioned, “In 2024, buyers are leaning more heavily on trust, transparency and brand when making decisions.” Curious – Have you heard much about buyers relying more on peer communities/paid memberships (asking for recommendations) or ‘going dark’ for longer periods during the early stages of their journey? I did an interview recently where this came up, and it was interesting.
I believe one of the failures to adapt has to do with attribution and ability to measure brand programs and campaigns. It’s hard to measure a positive shift in your brand perception (which could take years) and its effect on sales whereas you can precisely measure demand gen efforts and the leads that demand gen creates.
When others are pulling back, there's a great opportunity to lean in and stand out.
Agree there is a complete disconnect in marketing spend, channel optimization and the ROI of marketing spend. From a buyer perspective - Is it ROI or COI that is driving buyer behavior bc I am seeing more COI bc ROI is hard to prove until they are an actual customer?
The First 90 Days - it's a great one! https://www.amazon.com/First-90-Days-Strategies-Expanded/dp/1422188612
24 years in B2B SaaS Go-To-Market at Salesforce, Eloqua, HubSpot, Marketo. Customer Obsessed. Partner Obsessed. Living-In-Market. LinkedIn Member #320,966
1moYour brand is what others feel and say about you—customers, partners, industry experts, colleagues, peers, influencers, creators, thought leaders. Be visible and valuable where your buyers and the people who influence them are. Listen, learn, connect, engage, and amplify. Investing in these relationships is crucial as buyers increasingly lean on TRUST and brand.