According to a recent survey by Pipeline360, an alarming 50% of B2B marketers report that they are unable to meet their goals for 2024. However, teams that successfully align their sales and marketing efforts using a Branded Demand approach experience a 60% increase in goal achievement.
Key Insights from the H2 2024 State of B2B Pipeline Growth Report
The ‘H2 2024 State of B2B Pipeline Growth’ report sheds light on the most pressing challenges faced by marketers today, with the top issues being:
- Budget Constraints (48%)
- Economic Slowdowns (46%)
- Misalignment Between Sales and Marketing Teams (44%)
In response, 62% of marketers are consolidating teams to improve efficiency, while 39% are turning to AI and external contractors to enhance productivity. Notably, a significant 85% of B2B marketers are already utilizing generative AI, with 76% expressing satisfaction with its performance.
The Importance of Sales and Marketing Alignment
Tony Uphoff, President of Pipeline360, stressed the importance of aligning sales and marketing efforts to overcome these challenges. “To navigate today’s hurdles, marketers must focus on best practices and adopt new technologies,” Uphoff noted. The report highlights that fully aligned teams achieve far better outcomes:
- 75% meet their goals to a great extent
- 91% successfully reach their target buying groups
- 86% are satisfied with lead quality
Conversely, teams that neglect content syndication or display advertising tend to show weaker performance metrics across the board.
Overcoming Challenges with Branded Demand
Despite the obstacles, the report outlines a clear strategy for success. Uphoff advises B2B marketers to pivot from relying on unbranded leads to adopting a Branded Demand approach, which consistently delivers higher quality leads and a more significant impact on the sales pipeline.
The survey, conducted between May and July 2024, gathered responses from 424 participants across the US and UK, highlighting the need for B2B marketers to adapt swiftly to the evolving landscape.