The most successful marketers are lifelong learners who thrive by adapting to change. And the last decade has given us plenty of opportunity to practice flexibility and adaptability. As we get used to the idea that there will be no “new normal,” we can still learn from what other marketers are doing (or not doing, for that matter).

Our client LinkedIn just published their 2024 B2B Marketing Benchmark. It’s just the kind of data we marketers need to move our art and science further.

LinkedIn surveyed 2,000+ B2B marketers in management, leadership or executive positions to find out what teams are doing now and what they’re planning for the future.

Here are the key takeaways our team spotted.

Today, tomorrow and beyond: The future of B2B marketing

Despite the tumultuous economic times of the past few years, the 2024 Benchmark finds marketers adapting and preparing for what comes next. Let’s dig into the data and what it means for your team’s future success.

Strategic thinking is essential

Without a continuously-developed strategy, marketers are left to react instead of act. The data shows that most marketers got that message: Over two-thirds plan to reorganize their teams this year to be more effective.

Marketers are also carefully allocating resources across channels, with a strong focus on digital. In fact, of the top five most valuable channels, only one (trade shows/live events) is non-digital.

Strategic marketers are seeing the biggest returns from:

• Social media
• Events
• Email

However nearly half of marketers plan to increase investments in video, influencer content and case studies in the coming year. It’ll be intriguing to see how these investments paid off, when we’re looking at next year’s data.

All this strategizing is paying off: a whopping 90% said they feel good about their ability to drive revenue. This confidence is rubbing off on the finance department as well: 51% say their budget increased this year, and 54% expect an increase next year. Within that 54%, 18% say they expect a substantial increase.

Room for improvement: Acquisition vs. retention

CMOs report they’re spending 60% of resources on acquiring new customers, and only 40% on retention. That balance could shift in favor of retention with a focus on customer lifetime value for even better results.

Generative AI hits the mainstream

It’s hard to believe that just a few years ago, we were chuckling at AI’s awkwardness. Now it’s becoming an essential part of the marketing toolkit.

Over two-thirds of respondents said they’re using Gen AI for marketing. What’s more, over half have official guidelines for its use, and over half are actively training their teams on the technology.

It isn’t an unqualified embrace of the technology, however. Marketers report misgivings including:

• Lack of humanity in AI-generated content
• Risk of accidental plagiarism
• Risk of inaccurate information

However, these misgivings appear to be outweighed by the potential benefits of increased efficiency, smarter targeting, and automated processes.

Room for improvement: Training and experience

Given how new these AI tools are, it’s not surprising that many marketers don’t feel adequately trained to get the most out of them. Of LinkedIn’s respondents, 43% say that insufficient skills are a major factor holding back adoption. And only 25% said they have an ‘extremely good understanding‘ of how to use Gen AI.

• Read more on our blog: The Intersection of AI and Marketing Data

Creativity is driving better results

B2B marketers are finally getting the license to be as bold and creative as their B2C counterparts. Ninety percent of LinkedIn’s survey respondents said they are advocating for bolder, more creative campaigns, including 88% of the CMOs surveyed.

These types of campaigns are intended to build brand equity by earning attention, raising awareness, establishing credibility and staying top-of-mind. Over two-thirds of respondents said they’re increasing their brand-building budget in the coming year.

Marketers agree that bold creative can lead to impressive outcomes like:

• More brand engagement
• Greater share of voice
• More earned media coverage
• Uplift in brand sentiment

Room for improvement: Adopting new tech for bolder creative

Marketers have the opportunity to embrace new channels like CTV (connected TV, like Roku and Google Chromecast) and new formats like AR and VR to take their creative campaigns to the next level.

Data is in the driver’s seat

Marketers win and lose by the quality of their data analytics. It’s not just having the right data — it’s being able to glean insights from that data and act on it.

It’s worth noting that data skills are in top demand for marketers: “Data Analysis” ranked #1 among top digital skills added to LinkedIn profiles globally, and “Analytics” was the sixth-most in-demand skill overall.

Most of LinkedIn’s respondents say they’re on the right track with data and measurement. Seventy percent say they have the right tech to measure marketing activities, and 82% say they can demonstrate the impact of their marketing to the C-suite. Only 6% reported they could not prove their results.

Even with a high degree of data confidence, marketers are still feeling pressure:

• To prove ROI in too short a time
• To measure activity between buyer stages
• To deliver metrics that show bottom-line value of marketing
• To collect and analyze data across applications and platforms

Room for improvement: Consolidate data for deeper insights

Marketing teams still tend to work in silos, with data stored in different platforms, applications, even in different cloud providers. Bringing data together is a crucial first step to generating better insights.

Interdepartmental alignment is indispensable

Sales and marketing teams are finally doing the hard work of aligning on shared goals, KPIs and terminology.

Alignment is a crucial part of increasing efficiency and improving results; it means less time spent arguing about what a sales-qualified lead means, and more time reaching people with the right messaging.

Only 10% of those surveyed said there is no sales and marketing alignment in their organization. More than half said there are at least some synergies between departments.

Room for improvement: Communication skills

Communication is the top skill that B2B marketers are seeking to add to their resumes. The ability to communicate clearly and professionally is a learned skill, not an inherent trait, and it’s well worth marketers‘ time to learn it.

The CMO role is expanding and evolving

Part of the Benchmark focuses on how CMOs are facing challenges and preparing their departments for the future. But it’s not just about managing marketing: The CMO’s sphere of influence is growing.

Seventy-five percent of CMOs say they are trying to involve more C-suite members in decisions, and 90% say relationship building is essential to succeed. Overall, 69% say their role has grown in importance over the last year.

CMOs reported a number of fundamental changes to their position:

• More direct role in driving revenue
• Expected to collaborate with the executive suite
• Demonstrating marketing impact to bottom line
• Helping drive strategy and budgeting for the company, not just the marketing team

Room for improvement: Balancing long and short-term goals

Marketing strategies like SEO and brand building are long plays; if you try to measure ROI too soon, it will look like they’re ineffective. CMOs need to develop their storytelling skills to argue the benefits of a long- and short-term goal balance. After all, without upper-funnel activities like brand building, there won’t be a bottom of the funnel to market to.

Diversity, equity and inclusion is a major focal point

It’s clear that diverse marketing teams are better at reaching diverse audiences. Diversity includes gender, age, ethnicity, race, religion and more.

The news on DEI is mostly positive: 80% said their teams are gender diverse, and 75% said their teams are racial and age diverse. And leaders are still investing for the future, with 60% of CMOs saying their investment in DEI has increased in the past year.

Room for improvement: Diversity in hiring

The one sour note for DEI: Only 7% say they prioritize DEI when hiring. Building a diverse and inclusive environment starts with hiring practices; when DEI isn’t a priority, hiring will inevitably reflect bias.

What’s next for B2B marketing?

The 2024 B2B Marketing Benchmark shows impressive progress in the art and science of marketing. More data-driven strategy, bolder creative, more collaboration and diversity—the future looks bright.

For the year to come, marketing leaders say they’re focusing on three key priorities/challenges:

• Growing a high-quality lead pipeline
• Implementing AI technology
• Leveraging data to inform decisions and measure performance

If you need help meeting these challenges, our boldly creative, data-driven agency is here to help. Contact us today to get started.

The post 7 Essential Takeaways from LinkedIn’s 2024 B2B Marketing Benchmark appeared first on TopRank® Marketing.

Source:: toprankblog.com

Search engine optimization (SEO) is a competition. For any given keyword or topic, your content is battling thousands of others for limited (and constantly shrinking!) real estate.

Here’s how small the victor’s podium is:

• The top three organic search results receive more than 2/3rds of the clicks
• The top result receives more clicks than the 3rd-10th combined
• In searches with a featured snippet, the snippet has a 43% click through rate

With such a narrow target to hit, it’s not enough to optimize your content, or even your site, without comparing it to the content you’re competing against.

An SEO competitor analysis can help you develop a strong strategy that makes your content stronger and takes advantage of your competitor’s underdeveloped content and blind spots. Here’s what you need to know.

What is SEO competitor analysis?

SEO competitor analysis is the practice of evaluating the content and websites of other companies in your industry. The goal is to find opportunities for your content to better suit specific search queries. You’re looking for places where your competitors are lacking content completely for relevant keywords, and especially where they’re getting good rankings with thin content.

How to perform SEO competitor analysis

There are multiple steps to a comprehensive competitor analysis. Some are a lot easier with tools like Semrush, but at the base level, you can begin with just your browser and Google.

Step 1: Identify competitors

This may seem like too small of a first step; if you’ve been in business any time at all, you know who you’re competing with for customers. But it’s important to identify your search competition.

Your SEO competitors aren’t just the businesses that offer similar products or services; they’re also those vying for the same keywords and search engine real estate. These can include:

• Direct competitors: Start with your existing list of businesses in your industry who are going after similar customers. These are your direct competitors, and they’re likely targeting the same audience and keywords as you.
• Indirect competitors: These businesses may not offer the same products or services but still compete for your audience’s attention. For example, if you sell a logistics solution, your indirect competitors could include shipping and trucking companies. Anyone who is targeting the same keywords and/or audience should be on your radar.
• SERP competitors: To narrow the field a little, take a look at who is already ranking in the search engine results pages (SERPs) for keywords relevant to your business. These are the ones you’re directly competing with for visibility and clicks.
• Keyword competitors: Use keyword research tools to identify competitors who are targeting the same keywords as you. Look for businesses ranking for your target keywords and analyze their content and backlink profiles.

Step 2: Run a keyword gap analysis

A gap analysis involves identifying keywords that your competitors are ranking for, but you aren’t — and vice versa. These gaps are untapped opportunities to capture more rankings, and ultimately more traffic. There are three types of opportunities to look for:

• Keywords your competitors are ranking for: Use SEO tools like Semrush, Ahrefs, or Moz to identify these keywords and assess their search volume, difficulty, and relevance to your business.
• Keywords your competitors have lost: Keep an eye out for keywords that your competitors may have lost rankings for over time. These could indicate shifts in the competitive landscape or changes in search engine algorithms. Either way, you could be able to swoop in and fill the space.
• Keywords without robust high-ranking content: Some of the most powerful opportunities are for long-tail keywords that have no long-form, high-quality content in the SERP. A keyword like “Logistics solutions” might be challenging to rank for, but one like “Logistics solutions for sporting goods stores” might have meager results. These represent opportunities to create targeted, high-quality content that can rank well and attract organic traffic.

Step 3: Identify your niche

Establishing your niche involves identifying the specific topics, keywords, and audience segments that align with your brand and differentiate you from competitors. Essentially, you’re choosing a smaller part of the vast search landscape to try and stake a claim on. Instead of thin content aimed at hundreds of generic queries, you can focus on a few pillar pieces written for specific keywords and topics.

Start by defining what sets your brand apart from the competition. What unique advice or insight can you offer that your competitors can’t? What’s your area of specialization in your field? Resist the urge to think in terms of business differentiators, such as products and services. Look for the differentiators in value that your content can offer.

After these first three steps, you should have a clearer idea of what search terms you plan to target.

Step 4: Analyze the SERP for user intent

Before you start putting together a content plan, it’s important to understand the user intent behind your targeted keywords.

Consider a blanket term like “international shipping.” Keywords including this term might have a variety of intents:

• “International shipping rates” would be seeking a specific piece of information
• “Trends in international shipping” would be seeking industry insight
• “Safest international shipping providers” would be evaluating vendors to engage with
• “International shipping fanfic competition” would be seeking information about a writing contest in which fans write about pop culture characters forming relationships.

Even if that last keyword has 10x the search volume of the others, it’s clear the intent is not a good match for your shipping logistics company. But the intent isn’t always so cut-and-dried. It’s important to look at the top-ranking content for each term to make sure it matches the presumed intent. Keyword analysis tools can provide further insight and detail around search intent.

Step 5: Evaluate competing content

You’ve looked at how your competitors‘ content is ranking. Now it’s time to look at the content itself, analyzing it with human intuition. Consider these elements as you look at the content at the top of the SERP:

• Content quality and relevance: Is the content well-written, informative, and easily skimmed? Does it provide value to the reader and address their needs and pain points? Identify areas where your competitor’s content excels and where it falls short.
• Content format and structure: Is most of the content text, video, visual, or interactive? How is information organized and presented? Look for opportunities to differentiate your content by experimenting with different formats and structures.
• Keyword optimization: Are they targeting relevant keywords and incorporating them naturally into their content? You can use keyword research tools to identify the keywords your competitors are targeting and assess their search volume and competitiveness.
• Content gaps and opportunities: Are there topics or keywords that they’re not covering? Can you provide unique perspectives or additional value on existing topics? Use these insights to inform your own content strategy and create content that fills gaps and better meets the needs of your target audience.

Step 6: Analyze competitors‘ backlinks

While backlinks have taken on less importance in the wake of Google’s latest algorithm updates, high-quality backlinks are still a ranking factor. It’s worth making backlink strategy part of your content planning.

Start by identifying the backlinks pointing to your competitor’s website. Use backlink analysis tools like Ahrefs, Semrush, or Moz to generate a comprehensive list of backlinks. Pay attention to their quantity, quality, and diversity.

Assess the quality of your competitors‘ backlinks with factors such as domain authority, relevance, and anchor text. High-quality backlinks from authoritative websites are more valuable than low-quality backlinks from spammy or irrelevant sites.

It’s important to also look at the domains that are linking to your competitor’s website. Are they from reputable sources within your industry, or are they from unrelated websites? Analyzing the linking domains can help you identify potential opportunities for building relationships and earning backlinks from similar websites.

Consider the link-building strategies your competitors are using to earn backlinks. Are they guest posting on industry blogs, participating in online forums, or leveraging social media for link acquisition? Understanding their tactics can inspire ideas for your own link-building campaigns.

Finally, identify any gaps or opportunities in your competitor’s backlink profile. Are there high-authority websites that are linking to your competitors but not to you? Can you create more useful content for key topics in order to earn backlinks from these sites?

Step 7: Analyze competitors‘ site experience

User experience can affect a site’s rankings. If a site is slow, hard to navigate, confusing or misleading, users will bounce. This signals the algorithm that their content shouldn’t be highly ranked. It’s worth seeing how your competitors are doing in the UX department, and how you can do better:

Start by evaluating the overall user experience of your competitor’s website. See whether it is easy to navigate, visually appealing, mobile-friendly and accessible. Consider factors such as site layout, navigation menus, font readability, and visual design elements.

Next, see how easy it is to find what you’re looking for on the site. Can users easily find what they’re looking for, or do they get lost in a maze of confusing menus and dead-end links? Pay attention to the clarity of navigation labels, the accessibility of important pages, and the presence of breadcrumbs or search functionality.

Speed is a crucial part of user experience now. Evaluate the loading speed of your competitor’s website across different devices and internet connections. Then see whether your competitor’s website is responsive and optimized for mobile devices, as mobile-friendliness is a key ranking factor for search engines.

Finally, take a look at the technical aspects of competitor sites. This will involve looking at the page source code. Look at meta tags, schema markup, canonicalization, and sitemap structure. Analyzing these technical SEO factors can uncover opportunities for optimization and improvement on your own site.

Use this guide to help with your analysis: What to Look for in an SEO Analysis of a Website.

From audit to action

Once you’ve completed the competitor audit, you will know:

• What unique long-tail keywords to target
• What type of content is performing best for these topics
• Which keywords best match your search intent
• Where you can earn rankings above your competitors
• How to improve your own site experience

All of this information can help build your content plan for strategic SERP domination.

TopRank Marketing can help you get a handle on your SEO, including competitor analysis and auditing your own site. Request a free SEO scorecard to see what we can do.

The post Competitive Intel: Here’s What an SEO Competitor Analysis Tells You appeared first on TopRank® Marketing.

Source:: toprankblog.com