The landscape of B2B marketing is undergoing a significant transformation, with brand awareness now taking centre stage in future strategies.

According to the latest Dentsu Superpowers Index, a comprehensive study of B2B buying behaviour, raising brand awareness and top-of-funnel performance has emerged as the top priority for marketers in 2024.

This shift represents a notable change from previous years, where demand generation and lead conversion held more prominence. The study, which analyzed over 14,000 buyer interviews and 25,000 buying experiences, reveals several key trends:

Brand Building Prioritized

Brand building has leapt from the fifth priority in 2023 to the number one spot in 2024.

The focus on ‘raising brand awareness/top of funnel performance’ has overtaken ‘demand generation/driving and converting leads’ in importance.

Increased Complexity in Buying Decisions

The number of brands considered during B2B buying journeys has increased by 62% since 2021.

Average decision time has extended by 54 days since 2021, now taking approximately 379 days globally (416 days in Australia).

Changing Buyer Perceptions

Personal decision drivers now outweigh professional ones, indicating a shift towards more socially conscious decision-making.

Buyers are seeking brands that are ‘ good for society’, with this factor nearly doubling in importance over four years.

Experience as a Differentiator

Only about two in five businesses were highly satisfied with their chosen brand’s ability to tailor offerings to their needs.

A 10-point increase in the Superpowers Index Score correlates with a 14% average uplift in the dollar value of each opportunity.

Challenges for Incumbents

Loss rates for incumbent vendors have risen from 29% last year to 34% this year.

-30% of brands are eliminated early in the buying journey, often before they’re aware they’re being considered.

Conclusion

The study emphasizes the growing importance of brand building in B2B marketing strategies. It suggests that marketers should focus on creating distinct brand positions and strong, unique selling propositions, as many buyers perceive B2B brands as having similar marketing messages.

To adapt to these changes, B2B marketers are advised to:

• Invest in top-of-funnel activities and brand awareness campaigns.
• Develop thought leadership content to stand out in a crowded market.
• Focus on being perceived as a good employer and socially responsible brand.
• Improve the tailoring of offerings to meet specific customer needs.
• Engage earlier in the buying journey to avoid early elimination.

This shift towards brand-focused strategies in B2B marketing reflects a broader trend of aligning with changing buyer preferences and the increasing complexity of B2B purchase decisions.

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