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A dive into the 5 upcoming trends to gather B2B market insights in 2023
For any business, it's critical to stay on top of trends that can impact your industry, such as new technology or changes in consumer behaviour. This is especially true for marketers who need to keep up with the latest B2B market insights so they can launch successful campaigns. If you're wondering what market research trends will shape the world of B2B marketing in 2023 and beyond, here are five ideas:
The customer journey is a map of all the interactions a customer has with your brand before, during, and after their purchase. It includes everything from how they first heard about you to what happened when they clicked on your ad or visited your website.
The customer experience (CX) can be understood as the sum of all customer interactions. However, it's important to understand that not all customers experience your brand in the same way. For example, say that a B2B buyer sees an ad online and then goes through multiple phases (researching products, visiting several pages of the site, and eventually making a purchase). It is likely that the individual will have a different CX than someone who saw an ad at an event and then immediately bought something because he was already sold on it.
One key aspect of CX is tailoring content based on what the user has done so far within your app or website. This makes them feel understood and valued by you as well as increases engagement with your brand.
The first step in creating a customer journey is to identify who the B2B buyer is and how they interact with your brand. The question then becomes: Who is a B2B buyer in 2023? The American Marketing Association Reports that 65% of B2B buyers are between the ages of 18 to 40. This means that the majority of B2B buyers are millennials or Gen Z. Since these generations grew up in a digital world, they expect B2B marketing to mirror that closely with a high degree of personalisation.
The best way to identify buyers is by creating personas. These are fictional characters based on real people who represent all the different types of users you have. Personas also represent their goals and needs.
They are most effective when you create them collaboratively with your team. You can do this by having everyone on your team fill out a questionnaire about particular users. Afterward, you can discuss how their answers relate to each other. Once you have a list of personas in place, you can start using them as a tool for designing the best UI for your app or website.
It's become increasingly important for B2B marketers to create personalised and targeted content. This point ties back into the first trend of using B2C CX strategies. Additionally, a possible option to create faster and more personalised content marketing for B2B audiences is to use AI.
As we have entered the era of conversational AI, brands need to make sure that their B2B customers can connect with their brand in a human way. The best way to do this is by giving the customer the impression that they’re speaking directly with another person. Using technologies such as natural language processing and machine learning, you can create an experience where your customers feel like they are talking with an actual person. CHAT GPT is one such example of a conversational AI.
You may be wondering why is it important to create personalised and targeted content to collect B2B market insights. There is a multitude of reasons for this, however, one top reason is the shift in B2B buying behaviour after the Covid-19 pandemic. A 2021 Forrester study reports that as more and more people were working from home during the pandemic, business purchases were made by large groups of decision-makers instead of individuals. These shifts in B2B decision-making imply that companies can no longer rely on traditional marketing methods.
Voice-first assistants are becoming more popular and prevalent in the B2B market. In fact, voice is the new interface for technology: it's faster, easier, and more intuitive to speak than to type. As a result of this shift towards voice interfaces, AI will become the UI of choice for many businesses. That means collecting customer feedback can help you understand your audience better than ever before. Oberlo reports that over 40% of all searches are conducted by voice alone in 2022.
Voice assistants allow businesses to get ahead of their competitors. The way that they do this is by providing relevant market insights at scale through natural language processing systems that analyse data through an understanding of context and intent. They also make it easier for customers to provide feedback while they're on their journey toward purchasing your product or service. This means you'll be able to identify pain points earlier on in their buying cycle. In this way, you can address them before they become problems.
For example, if you want your digital assistant to sound natural when responding to questions from customers or employees, it needs to be able to understand what someone is saying regardless of how they say it. This means creating models based on data points such as pronunciation patterns and contextual cues like intent or sentiment analysis (i.e., whether someone said “Can I speak…?” versus “I would like…).
Further, when designing these models, make sure you can add in new data points as they arise. For example, suppose there are certain terms that your digital assistant understands but aren't part of the initial training data set (such as “service” or “account management”). In this case, it needs to be able to identify this and learn from new examples of how people use those words.
Data security is a pressing concern for many companies and will become even more important in 2023. Cyberterrorism and cybercrime are on the rise, and as more devices connect to the Internet, hackers have more ways to access your data. Companies need to be aware of the risks of data breaches. This is so they can take steps to protect themselves from hackers. It's also important that B2B companies create strategies for collecting, managing, and sharing data across internal teams. Since the marketing landscape has a wide variety of tech-based solutions, businesses have likely purchased unnecessary tech in the past year. In 2023, B2B companies will probably need to evaluate which technologies to keep and which to let go of.
The funnel has been one of the most influential and widely used concepts in marketing for decades. We have all heard about it, but what does it really mean? The concept behind this model can be traced back to the early 1900s when E. St Elmo Lewis developed a four-step buyer journey: Awareness, Interest, Evaluation and Purchase (AIEVP). This model was later adopted by other researchers. Eventually, marketers started using these steps as part of their sales strategy or customer acquisition process.
However, modern digital marketing has changed things completely; how do you measure brand awareness when there are billions of pages out there? How do you know if someone is interested in your product if they shop on Amazon instead of visiting your site directly? Can we still talk about “evaluation” when people don't even consider buying anything anymore? And how can we talk about purchases when most products are sold via subscription models where customers only pay once every month or year?
The modern marketing funnel is a more holistic model that takes into account all the different ways people interact with brands. It highlights how customers move through different stages of interest and consideration as they make their purchasing decisions. The funnel’s shape looks like this:
The funnel has a wider mouth at the top, which is where customers first hear about brands. This stage includes things like awareness campaigns and product launches; it’s where companies reach out to their target audiences and introduce them to the products or services they offer. As more people become aware of your brand, they start moving down through the funnel. So, the narrower section of the funnel represents different stages of interest. These can include evaluating different options (comparing prices or features) and researching online reviews and testimonials.
The world of B2B marketing is constantly changing. That's why it's important to stay up-to-date with trends and developments in the field.
We hope this article helped you understand what kinds of market insights can be valuable for your business, and how they can help you improve your campaigns. In addition, we've also added a few tips on how to gather them.
B2B market insights are simply a collection of data points and statistics that help you understand your audience better. They can help you identify trends, figure out what your customers want from you, and create more effective marketing campaigns.
Marketers often use insights to inform their marketing strategies. However, they're also useful for providing a different perspective on your business. Understanding how your customers perceive you can help you improve customer satisfaction, and increase sales and conversions. Additionally, it can help strengthen relationships with your audience. For more information, check out our blog on B2B market insights explained in 4 simple steps.
These are just a few of the key trends we’ll be seeing in the B2B space. Collecting B2B market insights is more important than ever, but it also takes time and resources to do it right. With these five trends on your radar, you can start planning for success now and not be caught off guard by what’s coming next. If you want to learn some more trends, watch this Youtube Video by the AMA on the future of B2B marketing. You can also contact us here if you’re wondering how to gather B2B market insights.
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