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Study: 85% of B2B marketers confident of marketing plan despite economic uncertainty

Study: 85% of B2B marketers confident of marketing plan despite economic uncertainty

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The majority of B2B marketing leaders in Asia Pacific (85%) are confident that their marketing strategy will create impact over the next six months amidst the economic uncertainty. In fact, marketers in this region see this time as a chance to prove their relevancy and rethink their brand story (34%), as well as strengthening relationships and trust with customers (30%).

As a sign of their confidence, 59% of B2B marketers across APAC have no plans to cut spend on brand building in the next six months, with 20% planning to increase investment. Having a strong brand as a foundation of supporting sales was the most common reason behind marketers’ decision to maintain or increase their spend (62%), followed by the need to stay top of mind during times of economic uncertainty (55%), and cushioning themselves against potential price fluctuations (45%).

B2B marketers aim to create purpose-led creative campaigns to drive effective results in the next six months and to do so, creativity (54%), efficiency (50%) and innovation (47%) were identified as the top skills required. APAC B2B marketers are also focused on showcasing how they are helping their customers in this uncertain macroeconomic and business landscape. In fact, close to half (48%) in the region cited this, the highest figure globally in LinkedIn’s survey.

Sustainability is also a key focus area in APAC. Half of APAC marketers said that demonstrating how their brand is serious about sustainability is top of their mind when they look at strategising and focusing their efforts and spending in the next six to 12 months. And B2B marketers in the region are ready - over three-quarters said their marketing team is equipped with green skills to deliver effective campaigns about sustainability messaging.

B2B marketers in Singapore share a similar sentiment too as a strong majority (75%) plan to promote their organisation’s sustainability approach in the next year, with 66% saying their team is adequately equipped for so.

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Doing more with less

Nonetheless, the economic uncertainty is also pushing B2B marketers to do more with less. In particular, doing more with less budget (23%) is cited by APAC B2B marketers as their biggest challenge in the next six months, followed by proving RPO of their marketing spend (20%).

Interestingly, marketers are also looking at new technologies to drive those results but have not figured out a good way to do it. Specifically, 20% across APAC are keen on effectively unlocking the potential of new technologies, such as the metaverse and artificial intelligence.

Meanwhile, about half of B2B marketing leaders across APAC who had budget adgasjustments claimed that the marketing function is not perceived as a priority investment in uncertain times.

LinkedIn commissioned YouGov to survey 1,703 senior B2B marketing decision-makers in the US, UK, France, Germany, Netherlands, Italy, Spain, UAE, KSA, Brazil, Australia, India and Singapore during 13 to 30 September 13 to 30. The research was conducted online.

Prue Cox, director enterprise SEA and ANZ, marketing solutions at LinkedIn, said given the interconnectedness of the global economy, it is inevitable that B2B marketers will feel the pinch from today’s uncertain macroeconomic conditions.

"However, it is refreshing to see that marketers are positive about their future and making intelligent investments. Savvy operators will use this moment to their advantage and harness the power of creativity during these challenging times and show how they are adding value to customers. By doing so, they can continue to drive growth and a strong return on investment for their organisations in the long-run," he added.

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