LinkedIn has announced new offerings aimed at helping B2B marketers build “collective confidence” among their buyer groups.
After a challenging year marked by tighter budgets and increased pressure to demonstrate ROI, B2B marketing leaders globally are optimistic about the future, with 9 in 10 expressing confidence in their ability to drive revenue in the upcoming year, according to LinkedIn’s 2024 B2B Marketing Benchmark.
Building Relationships and Collective Confidence
To succeed, marketers must focus on building relationships and fostering “collective confidence” among the buyer group, which includes decision-makers and brand advocates who influence purchase decisions. Given the long, emotion-driven buying cycles that typically involve six to ten stakeholders, it is crucial to get everyone on board.
The 2024 B2B Marketing Benchmark findings reveal:
- Relationships are Key: A significant 88% of B2B CMOs globally agree that relationship building is crucial for success in the coming year.
- Importance of Brand Building: Nearly 73% of B2B marketing leaders have focused on developing bolder creative, with 61% reporting improved engagement and conversions as a result.
- AI Enhances ROI: Two-thirds of B2B marketing leaders are already using Generative AI applications in their marketing activities, citing improvements in productivity (40%), accelerated content creation (39%), and cost efficiencies (30%).
The 2024 B2B Marketing Benchmark report is based on a survey commissioned by LinkedIn and conducted by Ipsos. The survey involved over 2,000 global B2B marketing leaders, including 448 CMOs, from the US, UK, Germany, France, India, Australia, Singapore, and Brazil. The research was conducted online between March 1 and March 29, 2024.
New Offerings: The Wire Program and Expanded AI in Accelerate
To help B2B marketers engage all members of the buying group and build “collective confidence,” LinkedIn is introducing:
- The Wire Program: With video uploads on LinkedIn increasing by 45% year-over-year, LinkedIn is testing the Wire Program. This initiative allows brands to promote in-stream video ads alongside trusted publisher content on LinkedIn. The Wire Program is currently being tested with a limited number of publishers, including Barron’s, Bloomberg, Business Insider, Forbes, LinkedIn News, MarketWatch, NBCUniversal, Reuters, The Wall Street Journal, and Yahoo! Finance.
- Expanded AI Capabilities in Accelerate: New functionalities are being added to Accelerate, LinkedIn’s AI campaign creation and optimisation tool. Marketers can now draft engaging creatives with Microsoft Designer, refine targeting by excluding companies and third-party lists, and receive guidance from a new AI marketing assistant. Advertisers using Accelerate are reportedly creating campaigns 15% more efficiently and achieving a 52% lower cost per action compared to Classic campaigns.
The Wire Program and the expanded AI capabilities in Accelerate will be discussed in detail at the Cannes Lions International Festival of Creativity on Monday, June 17 at 4:45 pm CEST. The session, titled ‘The New Gold Rush: Exploring the B2B Frontier,’ will feature Tusar Barik, Senior Director of Marketing at LinkedIn, Vida M. Cornelious, SVP of Creative & Strategy at NYT Advertising, and Nicholas Mercurio, Chief Client Officer at Ipsos.
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