The Top 5 B2B Business Trends to Watch in 2021

As we enter into a new year, it’s important to stay updated on the latest trends in the B2B industry. In 2020, the world witnessed an unprecedented shift towards digitization due to the COVID-19 pandemic. The business environment has changed dramatically, and it’s vital for B2B marketers to keep abreast of the evolving trends.

Here are the top five B2B business trends to watch in 2021:

1. Increased Focus on Account-Based Marketing (ABM)

Account-based marketing (ABM) is a strategic approach where businesses focus their efforts on target accounts. Rather than targeting a broad audience, ABM allows organizations to focus on high-value accounts that have the potential to drive significant revenue. In 2021, we’re likely to see an increased focus on ABM.

According to a survey by SiriusDecisions, 92% of companies recognize the value of ABM, with 60% of companies planning to increase their ABM budgets in 2021. ABM helps businesses to create personalized content, build stronger relationships with customers, and ultimately drive better results.

2. Increased Use of Artificial Intelligence (AI) and Machine Learning (ML)

AI and ML have been transforming the B2B industry for quite some time now, and we’re likely to see an increased use of these technologies in 2021. Businesses are investing in AI and ML to automate tedious tasks, predict customer behavior, and gain valuable insights into customer data.

According to a study by PwC, AI and ML could contribute up to $15.7 trillion to the global economy by 2030. In 2021, we’re likely to see an increased use of chatbots, personalized recommendations, and AI-powered analytics.

3. Focus on Customer Experience (CX)

In 2021, B2B businesses must prioritize customer experience (CX) to succeed. With increasing competition, businesses must differentiate themselves by providing an exceptional customer experience. Customers expect personalized experiences, and businesses that fail to deliver will fall behind.

According to a study by Walker, customer experience will overtake price and product as the key brand differentiator by 2021. To provide an exceptional customer experience, businesses must focus on understanding their customers’ needs and preferences and deliver highly personalized experiences.

4. Increased Investment in Humanization and Empathy

Amid the COVID-19 pandemic, the world witnessed a significant shift towards empathy and humanization in marketing. In 2021, we’re likely to see an increased investment in humanization and empathy in B2B marketing.

Businesses that demonstrate empathy and humanization can build stronger relationships with customers. According to a study by Edelman, 65% of customers make purchase decisions based on a company’s values and beliefs. In 2021, we’re likely to see businesses investing in cause-related marketing, social responsibility, and sustainability initiatives.

5. Increased Focus on Sales and Marketing Alignment

In 2021, we’re likely to see an increased focus on sales and marketing alignment. Sales and marketing teams must work together to drive revenue growth. When sales and marketing teams are aligned, businesses see a significant increase in revenue growth, customer retention, and customer satisfaction.

According to a study by HubSpot, businesses with aligned sales and marketing teams achieve a 24% faster revenue growth rate than those that don’t. To achieve sales and marketing alignment, businesses must prioritize communication, set shared goals, and provide visibility into sales and marketing metrics.

In conclusion, the B2B industry is evolving rapidly, and businesses must stay updated with the latest trends to succeed. In 2021, businesses should focus on account-based marketing, invest in AI and ML, prioritize customer experience, focus on empathy and humanization, and increase sales and marketing alignment. By embracing these trends, businesses can stay ahead of the competition and drive significant growth.