A significant portion of B2B respondents, amounting to 66%, expect 2024 to be as challenging—if not more so—than its predecessor when it comes to growing their businesses.

This projection sets the stage for a year where B2B growth strategies will be scrutinized, tested, and redefined in the face of market uncertainties and evolving consumer demands.

Another striking revelation from the survey is that a staggering 83% of respondents anticipate they will need to further reduce costs in 2024—adding in even more uncertainty to a challenging year.

In response, maximizing the efforts of your go-to-market team will be crucial. By identifying buyer intent, teams can proactively engage with potential customers who actively seek their solutions, rather than taking a one-size-fits-all approach.

Despite the increased necessity for financial prudence and scrutiny, the harsh reality is that most teams don’t believe they are armed with the necessary tools and resources to take on the fight and win.

In fact, one of the most concerning takeaways from the survey is that only 10% of respondents feel their companies are 'very prepared' for the challenges expected in 2024.

Adding even more fuel to the fire, a majority of respondents (55%) do not expect to receive additional marketing headcount investment in the coming year.

Overwhelmed teams may find themselves grappling with resource constraints, talent shortages, and the need to maximize existing capabilities to drive marketing initiatives effectively.

These financial headwinds elevate the importance of exploring technologies like GenAI to personalize marketing at scale, prioritize proactive planning, and empower constrained teams to tackle the multifaceted challenges that lie ahead.

An alarming trend has become evident, with as many as 59% of teams allocating less than 20% of their marketing budget to account-based marketing (ABM) and sales intelligence efforts.

Underinvestment in key strategic areas could have harsh repercussions, hindering organizations' ability to leverage personalized marketing approaches, data-driven insights, and targeted engagement strategies that drive growth and foster meaningful customer relationships.

Beyond organizational readiness, the survey delves into the personal aspect of preparedness, revealing that only 8% of respondents feel 'very prepared' to meet their company’s ABM needs in 2024

This personal sentiment is one that organizations will ignore at their peril, and underscores the need for ongoing skill development, training, and alignment with organizational goals to ensure that teams are equipped to meet the evolving demands of their roles effectively.