In an exclusive interview with Marketing in Asia, Matt Tindale, Head of Enterprise for APAC at LinkedIn Marketing Solutions, delves into the evolving landscape of B2B marketing. With nearly three-quarters of B2B marketing leaders expecting budget increases in the next 12 months, Tindale highlights the primary areas of investment and the key factors driving this optimism. From intensifying brand-building activities to integrating AI tools, the future of B2B marketing in APAC looks promising and innovation-driven.
Nearly three-quarters of B2B marketing leaders expect budgets to increase in the next 12 months. Can you elaborate on the primary areas where these increased budgets are likely to be allocated, and what key factors are driving this optimism?
Our ‘2024 B2B Marketing Benchmark’ report found that nine in 10 B2B marketing leaders in APAC are bullish on their team’s ability to drive revenue in the year ahead. This confidence is reflected in several primary areas of budget allocation.
Firstly, there is a strong focus on intensifying brand building activities to identify new audience segments, improve memorability and enhance campaign performance. Marketers are also prioritising the integration of AI tools in the workplace to boost productivity, elevate content creation, and create cost efficiencies.
Additionally, the increased budget allocations and upskilling of teams, particularly in AI, is infusing B2B marketers with renewed energy and optimism as these strategic investments will significantly bolster their competitive edge in the long run.
With six to ten stakeholders typically involved in B2B purchasing decisions, building “collective confidence” is crucial. Can you discuss some strategies or best practices that successful B2B marketers are employing to achieve this?
Building a strong relationship with all members of the buyer group is of paramount importance in any B2B purchasing decision. According to LinkedIn’s latest B2B Marketing Benchmark report, the majority (91%) of B2B Chief Marketing Officers (CMOs) in APAC agree that influencing purchasing decisions hinges on cultivating strong relationships. Success in B2B marketing isn’t about focusing on a single connection but about building “collective confidence” among the buyer group, including decision-makers and brand advocates.
B2B buying cycles tend to be long and emotion-driven, requiring an average of 17 meaningful interactions with a company to successfully complete a purchase. This underscores the importance of cultivating meaningful relationships and investing in brand building. By doing so, companies can improve memorability and positively influence purchasing decisions through sustained and engaging interactions.
Creativity is also essential to staying top of mind for B2B marketers – LinkedIn’s B2B Marketing Benchmark report found that nearly three-quarters (74%) of B2B marketing leaders in APAC have focused on developing bolder creatives, with 62% agreeing that this approach is improving brand engagement and driving conversions.
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The report mentions that 74% of B2B marketers have focused on developing bolder creative to stay top of mind, leading to improved brand engagement and conversions. Could you share some examples or case studies of how bolder creative strategies have been effectively implemented?
Bolder creative campaigns can significantly drive brand engagement and conversions. However, true effectiveness lies in blending creativity with emotional brand-building, that also addresses customer pain points and unmet needs.
One notable example is Intuit Mailchimp’s recent campaign, “Turn Clustomers Into Customers” which addresses the issue of effective customer segmentation among marketers. Mailchimp excels at being customer and data focused, conducting extensive research to understand their target audience. This campaign brought in the creative aspect of an exciting and visually stimulating campaign while addressing the pain point of their marketing customers around effective targeting.
Another example is Salesforce’s use of high-profile personalities and innovative media formats such as connected TV. Their latest ad on YouTube TV, ‘The Great Data Heist’, featured Matthew McConaughey and employed suspenseful cinematic visuals while touching on data management and security, a pain point for CMOs when it comes to AI adoption. By combining bold creative elements with a clear focus on customer concerns, Salesforce enhanced brand engagement and conversions.
Two-thirds of B2B marketers are using Generative AI in their marketing activities. How is Generative AI transforming B2B marketing, and what are some innovative uses of AI that are currently making an impact?
Today, marketers in particular are leading the charge on AI adoption and building AI proficiency to improve ROI. LinkedIn’s 2024 Marketing Jobs Outlook report found that two of the top ways B2B marketers say they plan to use generative AI this year is by increasing efficiency to focus on higher value work (55%) and creating optimised and engaging content that resonates with target audiences (51%).
In the APAC region, our B2B Benchmarking report shows that B2B marketing leaders are leveraging generative AI applications to improve productivity (41%), accelerate content creation (37%), and create cost efficiencies (33%). Our data also reveals a 142x increase in members worldwide adding AI literacy skills to their profiles, with marketers leading the way. ‘Artificial Intelligence’ has become the fastest growing digital skill for CMOs globally, based on the skills they added to their LinkedIn profiles in the past year.
To support this shift, LinkedIn introduced a variety of new free AI LinkedIn Learning Courses last year, which were well received by marketers globally. We also expanded the capabilities of Accelerate, our AI-driven campaign creation and optimisation tool, to better help marketers optimise their campaigns.
Recently at Cannes, there was a lot of excitement around hyper-personalisation and how AI enables marketers to create highly targeted, personalised ads at scale. At LinkedIn, AI is being leveraged through LinkedIn Learning’s AI-Powered coaching, a new chatbot that provides deeply personalised learning advice and resources to professionals in real time.
LinkedIn is introducing new products such as the Wire Program and expanded AI capabilities in Accelerate. How do these new tools enhance the ability of B2B marketers to reach and engage their target audiences? Could you provide specific examples of their potential impact?
The Wire Program is a new initiative that allows brands to promote in-stream video ads alongside trusted publisher content on LinkedIn. With a 45% year-over-year increase in video uploads, this initiative helps marketers reach buyers who are increasingly consuming digital video. By aligning brand message with publisher content, in a format that resonates with buyers, will support memory recall, which is crucial since only 5% of B2B buyers are in the market for a new purchase at any given time.
On the other hand, the new functionalities we have introduced in Accelerate create efficiencies in day-to-day tasks and help marketers achieve their campaign goals. For example, marketers can now use Microsoft Designer to build engaging creatives, enhance targeting, and receive campaign creation guidance from our AI marketing assistant.
The results from Accelerate have been noteworthy. Advertisers are creating campaigns 15% more efficiently and achieving a 52% lower cost per action compared to traditional campaigns. For instance, Closed Loop, a digital advertising agency, found that Accelerate campaigns for Calendly, an online appointment scheduling platform, significantly outperformed their best manual campaigns with over threefold increase in Lead Form Completion rate and a 66% reduction in cost per lead (CPL).
In partnership with Bain & Company, LinkedIn’s The B2B Institute aims to provide deeper insights and tools for B2B marketers. Can you elaborate on the key objectives of this initiative and how it plans to support B2B marketers in navigating the current and future landscape?
LinkedIn’s B2B Institute aims to advance B2B growth through comprehensive research and practical guidance for marketers. As a LinkedIn think tank, it collaborates with academic and industry experts to study the impact of B2B brand building on marketing, product, sales, corporate communications, and talent development.
The latest study on ‘Buyer Group Marketing’, in partnership with Bain & Company, explores the emotional drivers behind B2B purchasing decisions, offering critical insights and effective strategies for marketers.
The B2B institute’s vision is to transform the B2B sector by promoting innovative and effective growth strategies that go beyond short-term tactics and organisational silos. Despite the significant role brand marketing plays in driving future cash flows, it is chronically underfunded in B2B sectors. The B2B Institute aims to address this by strengthening the link between marketing and finance, helping marketers enhance their financial fluency and recognise the potential of brand advertising in driving future growth.
As a senior executive with extensive experience in business leadership, digital advertising, and social technology, Matt Tindale brings a wealth of knowledge to the table. His contributions to LinkedIn’s Reconciliation Action Plan and advocacy for diversity underscore his commitment to fostering an inclusive and impactful business environment. Through his strategic insights and leadership, Tindale continues to shape the future of B2B marketing in APAC, driving growth and engagement across the region.
