The network’s final report of the year discusses how the sector is embracing the power of brand, community, storytelling, and more to accelerate growth.
NEW YORK, Nov. 20, 2024 /PRNewswire/ – Havas has unveiled its latest Meaningful Brands™ Special Report, “Decoding B2B’s Brand Boom,” exploring how brand reputation has become a critical growth driver in B2B sectors, the shift toward an integrated “always-on” marketing approach, and the impact of brand on financial performance and customer engagement in today’s evolving digital landscape.
Since 2009, Havas’ Meaningful Brands™ study has provided insights into people’s evolving expectations of brands, highlighting what drives attachment, loyalty, trust, and cultural relevance in the B2C space. In this inaugural Meaningful Brands™ B2B Special Report, Havas explores the inter-relationships between B2B brands and B2B professionals across 12 sectors and 95+ brands. The quantitative survey conducted in the US, UK and France with 1.7K B2B professionals is complemented by a series of interviews with B2B marketers across industries.
In 2024, the US spend on B2B advertising is estimated to hit $37.68 billion, with some estimates reaching as high as $70 billion by 2026. According to the 2023 Global B2B Marketing Benchmark report from LinkedIn and the Ipsos Global Trends 2023 report, six out of ten B2B leaders say their budgets have increased in the past year, and two out of three expect their budgets to rise in the next 12 months.
The B2B sector presents a wellspring of opportunities for brands and marketers—especially as B2B products, services, and the customer purchase journey supercharged by new technologies and innovation continues to evolve. Havas’ report shows that with 86% B2B professional feeling equipped for the changes and transformations their industry is facing over the next 5-10 years, new implications and fresh opportunities are at stake for B2B marketers.
“The biggest takeaway of our study is that brand is actually more meaningful in B2B than in the consumer space,” says Mark Sinnock, Global Chief Strategy, Data and Innovation Officer at Havas Creative Network. “Our B2C research has consistently told us an inconvenient truth: that people wouldn’t care if 75% of B2C brands disappeared. Attachment to brands is low, making it challenging to cut through. However, our B2B research shows that the inverse is true in this space: B2B professionals would care if 81% B2B brands disappeared. Put simply, building a strong brand is critical to building a strong business.”
We are entering a new era for B2B Marketing. The survey reveals that 52% of B2B professionals ranked brand stewardship as one of the top three most important parts of their role, second only to talent, and data and technology.
“Brand has become as important as technology, data, talent, and sustainability to building future-proof businesses,” says Andrea Glenn, CEO of Ledger Bennett part of the Havas network. “The B2B sector is thinking about this at every level—engaging different functions, thinking about user experiences, and building communities. It’s shifted from a sales-led approach to a true recognition in the power of brand—not just for the sake of brand equity itself, but to unlock big opportunities.”
So, what do B2B marketers need to consider? Documented by detailed data snapshots across sectors and markets, the report decodes how B2B brands can become more meaningful to both customers and employees and ultimately unlock the differentiating power of their brand to shape their B2B marketing strategy in this era of exponential growth.
Access the full report here and follow Havas on Instagram and LinkedIn for the latest research findings from the groups.
About Havas
Founded in 1835 in Paris, Havas is one of the world’s largest global communications networks, with more than 22,000 people in over 100 countries sharing one single mission: to make a meaningful difference to brands, businesses, and people. Havas has developed a fully integrated model through its 70+ Havas Villages around the world, covering all communication activities. The teams of the three business units, Havas Creative Network, Havas Media Network, and Havas Health Network, work together with agility and in perfect synergy to offer tailor-made, innovative solutions to clients who support them in their positive transformation. Havas is committed to building a diverse culture where everybody feels they belong and can be themselves and thrive. Havas integrated into Vivendi, a global leader in media, entertainment, and communications, in December 2017. Further information about Havas is available at www.havas.com.
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