LinkedIn’s B2B Marketing Benchmark Report Is Here to Blow Your Mind

LinkedIn and Ipsos have just dropped their 2024 Benchmark Report and everything you thought you knew about B2B marketing is about to get turned on its head.

The B2B Buyer Journey: It’s Not a Funnel, It’s a Jungle

Forget the funnel. I’ve said it before, and I’ll say it again. Today’s B2B buyers are like seasoned explorers, hacking their way through a dense jungle of information. They’re not politely waiting for you to guide them down your perfectly crafted funnel – they’re out there, machete in hand, carving their own path.

What’s really going on according to the report:

• Buyers are doing more independent research than ever before (because apparently, they don’t trust our sales pitches – shocking, I know)
• There’s a larger buying committee of decision-makers now
• Digital channels are the new watering holes where buyers gather (and no, your gated 80-page whitepaper isn’t the oasis you think it is)

An always-on organic social strategy helps brands remain present in those digital spaces before buyers enter an active purchase cycle.

Time to Put Your Thinking Cap On (For Real)

Here’s a wild idea: instead of churning out another “Top 10 Tips” listicle, how about we actually lead some thoughts? The report screams that thought leadership is crucial, but let’s be honest – most of what’s out there is about as thought-provoking as a _____. I’ll come back and fill that in if I can find some inspo somewhere.

How to not be boring:

• Dive deep into research that actually matters
• Unleash your in-house experts (yes, even the ones with the weird hobbies. I’m looking at Steve from R&D who can juggle while on a unicycle. He still knows his sh*t though)
• Mix up your content formats

On the subject of dull, System1 just released an insightful piece (genuine thought leadership) on dull advertising which you can read here.

Guessing Is Soooo Last Year: Get Data-Driven

The report hammers home the importance of data. Surprise, surprise! But here’s the kicker – it’s not about drowning in numbers, it’s about swimming in insights.

Metrics that actually matter:

• Lead generation (but please, for the love of all that is holy, quality over quantity)
• Customer acquisition costs
• Customer lifetime value
• Marketing-influenced revenue (because someone needs to justify our existence to the CFO)

It’s Not Stalking, It’s “Personalised Attention” 👀

ABM is still hot, hot, hot! But let’s be real – it’s not about bombarding poor unsuspecting accounts with every piece of content you’ve ever created.

ABM done right:

• Pick your targets wisely
• Tailor your content like a Savile Row suit (one size fits none in B2B)
• Get sales and marketing to play nice
• Engage across multiple channels

A coordinated paid media strategy maintains that presence across search, social and display rather than treating each channel in isolation.

Embrace the Chaos

Let’s face it – the B2B marketing funnel is as dead as disco and no matter how hard she tries, Dua Lipa can’t save it. It’s time to embrace a new approach that’s more “choose your own adventure” than “follow the yellow brick road.”

• Always-on brand building: Shout about your brand from the rooftops (digitally, of course)
• Content library extravaganza: Create a smorgasbord of ungated, actually useful proper thought leadership content
• Intent-based outreach: Use those fancy tools to find the needles in the haystack
• Be available, always: Because when that 5% is ready to buy, you better be there

Remember, we’re not trying to outrun the tiger of competition – we just need to outrun the other B2B marketers still clinging to their funnels. I wrote a whole blog about how the marketing funnel is dead and I hope I haven’t just descended into banging the same drum with this piece.

Anyway, there you have it; The LinkedIn B2B Benchmark 2024 Report, summarised. Now go forth and conquer the B2B jungle – just leave your funnel at home. If you want to read the report, you can view it here.

For a more practical next step, use our LinkedIn social media cheat sheet for B2B executives.

And if you’re hungry for more insights about how B2B Buyers have changed, listen to our B2B Tech Marketing podcast!

In this episode, Gabe speaks with our CEO Gary on how the odds are stacked against the B2B Tech marketers of today, and what can be done to combat this through shifts in mindset to realign marketing with the buyer, and starting with a foundational layer of core activity spanning self-serve content and integrated digital marketing.