Insight 2020, a recent research report conducted by leading B2B PR consultancy, EC-PR has revealed that more than half (53%) of UK B2B companies do not have a communication strategy, hampering their ability to accelerate business goals, increase brand awareness and promote cross-team collaboration. 1 in 4 marketers also noted the senior leadership team see no value in a communication strategy.
EC-PR’s Managing Director, Lorraine Emmett comments: “It’s staggering to think that there is still such a high percentage of companies out there that have no communication strategy in place. Even more surprising is the fact that those companies who have a communication strategy in place, very often don’t align it with sales, with less than 25% of companies using tailored messaging to address different stages of the buying cycle.”
Shining a light on B2B communication for CMO’s, the Insight 2020 survey researched their priorities and challenges for 2020, and explored their strategic approach to communications, as well as the extent to which communication strategies are implemented to drive business outcomes.
There were few surprises when it came to the top three marketing priorities with brand awareness, thought leadership and lead generation dominating. Insight 2020 also revealed that despite 85% of companies having clearly defined sales targets, 1 in 6 marketers report a lack of a clearly articulated vision for the business. When asked what their one wish would be from their Marketing Fairy Godmother, over a quarter of those surveyed cited a clearer, future-looking and inspirational vision for the business.
Lorraine Emmett continues: “With 1 in 4 marketers noting that the senior leadership team see no value in a communication strategy, clearly business leaders need to better understand how the presence of a fully-validated communication strategy can accelerate the goals of the business. In B2B, it’s all about building an enduring relationship with your prospects, tailoring your messaging to address different stages of the buying cycle. The communication strategy equips you with this – essentially, it’s the nutritionally complete, breadcrumb trail that nourishes your prospects throughout their journey that just happens to lead to your table.”