Social Media, Digital Advertising Now Lead in Marketing Investment But Data Quality and Availability Still Biggest Issue

Stirista, the leader in data-driven marketing solutions, has released the results from its annual B2B Customer Acquisition Survey, focusing on senior-level B2B marketers across various industries. The findings highlight a significant shift toward digital marketing channels and the challenges B2B marketers face, particularly in data quality and availability.

The Shift to Digital Channels

The survey indicates that B2B marketers have increasingly turned to new technologies and digital methods to engage with customers as traditional marketing channels have become less effective. Social and digital advertising have emerged as the top customer acquisition channels. However, nearly half (47%) of the marketers report that data quality and availability pose significant challenges in reaching and engaging with customers.

Pandemic-Induced Changes

Mike Hilts, SVP of Product at Stirista, explains, "As in-person meetings and other traditional sales tactics fell away due to the pandemic, B2B marketers quickly pivoted to digital channels. Our survey sheds light on current B2B customer acquisition strategies and their potential evolution over the next two years."

Two-Year Outlook for Customer Acquisition Marketing

The survey reveals that most B2B marketers are optimistic about meeting or exceeding their marketing goals in the next 24 months. Despite this optimism, nearly three-quarters (72%) of respondents report limited success from their efforts, indicating a need for improved customer acquisition strategies.

Budget and Channel Shifts

Key findings include:

• A significant increase in budget allocation for partner programs is expected by 72% of marketers.
• Mobile (in-app) and video marketing budgets are also anticipated to rise (30% and 29% respectively).
• Marketers plan to increase their focus on in-person channels, such as live events and partner programs.

Keys to Success in Customer Acquisition

The survey identifies several critical factors for successful customer acquisition:

• Marketing and sales alignment is deemed the biggest contributor to success by nearly half (47%) of the marketers.
• Data quality and availability are crucial, along with workflow efficiency (47%) and performance measurement and attribution (43%).

The Role of Live Events

There is a notable disconnect regarding live events. While 55% of marketers find live events highly beneficial, only 11% believe they are the main factor contributing to their strategy's success.

Challenges Across Industries

Data quality, attribution, and measurement are identified as the biggest hindrances to growth across all industries. Successful acquisition strategies vary widely among sectors, highlighting the need for tailored approaches.

Study Methodology

The findings from the 2024 Stirista State of B2B Customer Acquisition Survey are based on an online panel conducted by Ascend2. The survey included nearly 200 marketing decision-makers in management roles or higher, representing B2B companies with 500 or more employees across various industries in the United States.

The 2024 B2B Customer Acquisition Survey by Stirista underscores the ongoing evolution in marketing strategies driven by digital transformation and the critical need to address data quality and availability challenges. B2B marketers are poised to leverage a hybrid approach combining digital personalization and in-person connections to achieve their customer acquisition goals.