Findings Reveal Successful B2B Leaders Modernize Their GTM and Explore Progressive Approaches to Data, Technology and Growth
SAN FRANCISCO, August 23, 2022 /PRNewswire/ — Basis of request, the Smarter GTM™ company for B2B brands, today announced the results of its 2022 C-Suite Go-To-Market (GTM) benchmarking study in partnership with Demand Gen Report. The survey interviewed more than 200 top-level B2B leaders in marketing and sales to get a clearer picture of current industry developments and GTM approaches that separate leading from lagging companies. . Demandbase uncovered important insights into strategies driving growth, the ongoing challenge of sales and marketing alignment, the evolving definition of GTM to encompass the entire customer journey, the impact of account intelligence and technology, and more.
“This year’s GTM Benchmark Survey has taught us a lot about the changing priorities and attitudes of sales and marketing leaders,” says Jon Miller, Chief Marketing Officer at Demandbase. “Most importantly, it revealed that true B2B leaders are modernizing their approach to GTM and becoming more progressive in how they leverage data, align their internal teams, and use technology, leading to greater success.”
Key findings of the report include:
Internal alignment to drive growth
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Respondents shared various investments they plan to make to drive growth, with 61% citing sales and marketing alignment as their top priority.
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Alignment between the two departments has always been a major challenge in B2B, and the survey found that measuring different metrics (33%) was the most common cause, alongside bad transfers (28%) and lack of communication (26%).
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While 41% of SDRs fall under sales and 22% under marketing, 26% actually follow a hybrid model where sales manages outbound efforts and marketing manages inbounds.
“To help organizations bridge the gap between sales and marketing, they must start by sharing the same metrics,” says Allison Metcalfe, Chief Revenue Officer of Demandbase. “I like to think of this in terms of a Venn diagram; one circle is sales KPIs and the other is marketing KPIs. If the metrics don’t overlap in the middle, misalignment will continue to challenge organizations. To help To strengthen internal alignment, it’s important that revenue teams can agree on what overlaps in that Venn diagram and identify the best way to work together to get there.”
Key indicators
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Based on the survey results, organizations are beginning to pay attention to unreliability and inaccuracy of first and last contact attribution, with 54% moving in favor of multi- touch to track the influence of marketing on the pipeline.
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The most common response for metric is Marketing Qualified Leads (MQL) at 18%, followed by Total Pipeline at (16%), Pipeline from Marketing (13%), Total Bookings/Revenue (13% ); and Marketing Qualified Accounts (MQA) (13%).
Smarter and modernized practices
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When asked how organizations use account intelligence, including intent data and technographies, in their GTM strategy, the survey found that 59% use it for account prioritization, 55 % rely on it for competitive intelligence, 49% use it for personalized messaging and outreach. , 39% use it to inform account selection, and 26% turn to account intelligence to plan their engagements.
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Although Leaders and Laggards had similar responses regarding the types of data they use (account history, contact data, and marketing campaign activity), Leaders focused more on social information (34%) , technology (27%), news (27%). , and account hierarchies (26%), while laggards relied more on proprietary data sources (such as website activity), which only show part of the puzzle.
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The research also found that 47% of survey respondents use “more” or “significantly more” intent data providers compared to the previous year.
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B2B companies continue to struggle with data degradation and other data challenges, citing missing/incomplete information (59%), data quality (56%), siled data sources (40%) and difficulty in turning data into action (32%) as ongoing issues.
Room for improvement
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The use of intent data by organizations is promising, as mentioned above, but there are still many opportunities to leverage it even more. For example, more B2B companies could use intent data to help plan their engagement, allowing them to be first to participate and improving transaction speed.
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The survey found that companies are increasingly relying on data and insights to improve their marketing and sales strategies, which is a positive trend. However, they better use it first to choose the right accounts – the starting point for a successful account-based strategy. Only 21% focused on firmographies, which are key to identifying best-fit accounts.
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The industry as a whole tends to support the self-service buyer journey, and respondents indicated that they are evolving their GTMs accordingly. These efforts, like product tours (in-app presentations/tutorials) (46%), interactive demos (45%), online calculators for ROI, quotas, etc. (43%) and how-to videos (39%), are important today and will be even more so in the future.
As the industry continues to evolve and new processes, technologies and strategies enter the scene, B2B leaders will quickly be separated from the laggards. Companies expecting to drive efficiency and growth will need a solid understanding of modern GTM and how to support it with internal alignment, data, technology and progressive practices.
To learn more and download the full survey report, visit https://www.demandbase.com/report/2022-c-suite-go-to-market-benchmark-survey.
About the request base
Demandbase is Smarter GTM™ for B2B brands. We help marketing and sales teams spot the most valuable opportunities earlier and move them forward faster by injecting Account Intelligence at every stage of the buyer’s journey and orchestrating every action. For more information on Demandbase, visit www.demandbase.com.
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