B2B marketers face external challenges that may impact marketing effectiveness in 2024 and beyond.
While I can’t predict specific challenges that B2B marketers will face in 2024, we can share what we hear from our client marketing leaders. We’ve identified some common challenges likely to persist or evolve in the B2B marketing landscape.
Here are the top three challenges B2B marketers might face in 2024:
1. Increased Competition: Most organizations plan to invest more in B2B digital marketing for 2024, so the prospect’s email inbox, LinkedIn, and social media feeds will likely get more crowded. Marketers must find ways to stand out through unique value propositions, highly targeted content, and innovative marketing strategies. With tight budgets, marketers should collaborate better with the sales team to align with go-to-market priorities.
2. Data Privacy and Compliance: B2B data privacy regulation in the Americas has lagged behind European regulators. Data privacy regulations like GDPR and CCPA are continually evolving, so B2B marketers must navigate these regulations to ensure that data collection and marketing practices comply. Maintaining data protection and consent management compliance is an intensive time and resource investment.
3. Technological Advancements and Complexity: Rapid advancements, including AI, automation, and data analytics, are transforming the B2B marketing technology landscape. Managing the marketing technology stack may present significant opportunities, but it also presents challenges regarding integration, skill gaps, and the need for constant adaptation to stay competitive.
Budget pressures and potential economic headwinds may dominate the headlines in 2024; B2B marketers must stay agile and adaptable to address these challenges effectively.