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Elevate B2B Marketing News Weekly Roundup: B2B Buyers Refocus On ROI, Meta’s New Audio AI, & More Marketers Increasing Budgets

Posted on Aug 4th, 2023
Written by Lane Ellis
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  • Elevate B2B Marketing News Weekly Roundup: B2B Buyers Refocus On ROI, Meta’s New Audio AI, & More Marketers Increasing Budgets
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    B2B Buyers More Thoroughly Evaluating Purchases
    When it comes to the new processes that B2B buyers have added for purchase decisions, some 38 percent have said they are conducting more rigorous analysis of return-on-investment (ROI), with 31 percent noting that they are taking more time researching buying decisions, and 24 percent focusing on adjusting decision timelines to reflect changing business needs — three of numerous findings contained in newly-published survey data. MarketingCharts

    Marketers Upbeat About 2024, But Still Worry About Inflation: Study
    58 percent of marketing and communications professionals have said that they are increasing budgets during 2024, with 69 percent expecting business to pick up during the year ahead, while 53 percent cited inflation as their most sizable obstacle, according to recently-released report data of interest to B2B marketers. MediaPost

    Meta releases open source AI audio tools, AudioCraft
    Facebook and Instagram parent firm Meta has rolled out an updated and open-source addition to its AudioCraft generative AI audio suite of utilities, including the ability to produce a variety of sound effects and music from text prompts, opening the door for more widespread use of the technology among developers and ultimately marketers, Meta recently announced. Ars Technica

    “We are releasing three more foundation models, for music and audio. It’s been fun to play with these models, and generate a variety of new outputs.” — Joelle Pineau @jpineau1 of @MetaAI Share on X

    The US B2B Media Market is Forecast to Surpass Pre-Pandemic Levels This Year
    The size of the overall U.S. B2B media market is expected to see 4.7 percent growth during 2023, totaling some $85.04 billion — a figure that would top pre-pandemic marks — with expectations to reach $91.19 billion by 2027, with smaller growth forecast for the coming years, as the trade show sector represented the fastest B2B market segment, according to newly-published report data. MarketingCharts

    B2Bs Consider Mobile-Only Threads’ Biggest Limitation
    Meta’s Threads social platform, which set a record for the swiftest rise to 100 million users, has set sights on ultimately topping the one billion user mark thanks to the eventual rollout of mainstream advertising options, yet challenges for B2B marketers remain, as 45 percent noted that the present mobile-only incarnation of Threads was its biggest disadvantage, with 39 percent citing the platform’s lack of direct messaging features, according to recently-released survey data. MediaPost

    Marketing uses for generative AI that will outlive the hype
    83 percent of global executives have said that chatbots were the AI app type that was the most relevant to their business, with 75 percent pinpointing data-oriented tasks, 71 percent citing text interpretation and content creation, and 70 percent AI-powered search marketing insights — some of the findings included in newly-published survey data. Insider Intelligence

    2023 August 4 statistics image

    How the Pandemic Changed Marketing Channels
    A mere 6.7 percent of organizations have reported that their face-to-face (F2F) marketing channels have shifted entirely to digital, while some 28 percent of companies noted that they were still planning on opening new F2F channels, and the Harvard Business Review recently took a look at the increasing importance of finding the marketing channels that will have the greatest brand impact. Harvard Business Review

    Facebook surpasses 3 billion monthly active users
    Including its Instagram, Messenger, WhatsApp, and Threads properties, Meta-owned platforms now account for some 3.88 billion active monthly users, with flagship Facebook reaching 2.064 billion daily active users in the most recent quarter — an increase from 2.037 billion, Meta recently announced. TechCrunch

    Instagram Experiments With Range of Generative AI Elements
    Instagram has undergone testing of an array of new generative AI utilities, expected to eventually roll out to user content feeds, including more advanced AI-assisted visual editing and chatbot tools, while also adding new ways to denote AI-assisted content on the platform, Instagram recently announced. Social Media Today

    In challenge to TikTok, YouTube Shorts gains new creation tools like Collab and Q&As
    Google’s YouTube has begun rolling out an expanded array of video creation tools, including a new side-by-side Collab tool that allows for recording Short videos alongside other YouTube content, in a move to offer more video creation option as the firm seeks to differentiate from the TikTok platform, YouTube recently announced. TechCrunch


    2023 August 4 Marketoonist Comic Image

    A lighthearted look at “The CMO Role” by Marketoonist Tom Fishburne — Marketoonist

    The Soviet-Era, Z80-based Galaksija Dared to Be Different — IEEE Spectrum



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