Brand’s New Year: The Importance of Building The Brand in 2024

Brand awareness appears to be the overarching objective for the new year, according to the 2,400-plus respondents in Sagefrog’s 2024 B2B Marketing Mix Report.

“This represents a significant departure from last year and indicates that businesses recognize the importance of building and maintaining their brand,” the report says, which has lead generation, client retention, and sales support rounding out the Top 4 objectives. “Brands with emotional resonance can connect deeply with customers, providing a distinct competitive advantage and ensuring long-term success, which is very different from the more immediate priorities of last year.”

Almost half (48%) of those surveyed said they’ll see a marketing budget increase in 2024, with the top areas of marketing spend being in-person tradeshows and events (25%), direct marketing (23%), content marketing (23%), directories and sponsorships (23%), and print ads (22%).

(Source: Sagefrog)

“Traditional channels like in-person trade shows remain a top priority but have decreased in significance from last year, while digital strategies such as directories, paid social media, and email marketing maintain their importance,” the report says. “There’s also a renewed interest in print advertisements, signaling a potential return to diversified marketing approaches. These changes underscore the importance of adaptability in response to evolving consumer behaviors and economic conditions.”

Of course, Sagefrog also noted AI’s surge, with 31% of B2B marketers utilizing AI for coding, 31% for chatbots, 31% for design, 30% for presentations, and 30% for content.

“While a few remain skeptical of AI, most lean towards optimism, with many marketers remaining neutral,” the report says. “This diversity in viewpoints underscores the expectation that AI will continue redefining B2B marketing in 2024, ushering in new opportunities and challenges.”