Renee Irion, Principal Analyst
Earlier this month, I had the opportunity to lead a peer-to-peer virtual roundtable among demand marketing and account-based marketing (ABM) leaders on their plans for 2024. It was such a great discussion that I wanted to share some of the highlights with you here.
To set the table, I shared data from recent Forrester studies that found the majority of B2B marketing decision-makers anticipate that their company’s investment in marketing will increase in the next 12 months. Though some of the increase aligns to US inflation trends from 2021 to 2023, the remainder indicates an acceptance of sorts. The disruption and uncertainty we have faced since the beginning of the decade is the new normal. Marketing is vital to customer value and activating business strategy and must astutely move forward. Frontline marketing subfunctions (e.g., demand marketing, ABM, digital marketing, and postsale customer engagement) are among the top beneficiaries of this trust in marketing in planning for the upcoming year, supported by increased budgets across the personnel, programs, and technology.
All of which leads to a series of questions:
During the roundtable, we talked about a key challenge each leader wanted to explore. We also discussed their upcoming plans and where to invest, divest, and experiment over the next annual planning cycle. The peer discussion was exceptional. Common themes included generative AI (no surprise), scaling ABM, utilizing insights, improving customer engagement, and working more effectively. As a follow-up, I shared Forrester’s recently published Planning Guide 2024: Demand And ABM (client access only), summarized below:
So, what’s the key takeaway for frontline marketing leaders as they look toward 2024? Plan and invest wisely in 2024 to minimize risks and maximize rewards for your company. Use the guidance above as a starting point. Your teams are crucial to enabling and creating value for buyers and customers, and your company’s growth depends on it. This requires innovative thinking and a willingness to experiment with approaches and technologies that provide flexibility and a competitive edge. Modernizing marketing practices helps B2B marketing leaders keep up with market demands in a constantly changing environment. It also empowers frontline marketing teams to become nimbler and more effective.
Read the full Planning Guide 2024: Demand And ABM report if you are a Forrester client, and feel free to reach out if you need additional help with planning. If you’re not yet a Forrester client, check out our Planning Guides 2024 Hub: Planning Insights And Advice for complimentary planning resources.
Stay tuned for updates from the Forrester blogs.
3 Tips To Guide B2B Demand Marketing And ABM 2024 Planning – Forrester
