Riding the Waves: How Market Changes in the Past Years Affected B2B Websites
The business landscape has seen extreme highs and deep lows over the past 3 years. From navigating the aftermath of COVID-19 to the volatility of fluctuating markets, from soaring successes to the bear market downturn. Join us as we explore how these shifts impacted B2B websites.
Traffic Trends – The Shifting Balance Between Paid and Organic Visitors
In 2021 organic and direct accounted for 78% of all website traffic, while only 11% of website visitors came from paid ads. In 2022 the portion of traffic from paid campaigns increased to 17%, while organic and direct traffic dropped to 73%. However, in 2023 things went back to “normal” and similar to how they were in 2021, with 79% coming from direct and organic searches, and 12% from paid ads.
Looking at year-to-year changes in traffic amount, the growth in paid traffic from 2021 to 2022 was significant, with a 102% increase. However, the increase from 2022 to 2023 was only 1%. On the other hand, direct and organic traffic saw a 24% increase from 2021 to 2022, and a higher increase of 76% from 2022 to 2023.
In summary, 2022 saw a surge in paid traffic, while 2023 returned the focus to organic sources. But… What does it all tell us?
How Market Shifts Affect Marketing Strategy
The market landscape in the first half of 2022 was abundant and demand soared. Money flowed freely, buyers were eager, and marketers operated with a sales-centric approach, focusing on sealing deals in the midst of high demand. However, 2023 presented a dark contrast as the market entered rough conditions, leading to a decrease in demand (no money to buy new tools) and budget cuts for paid advertising (no money to buy new leads). In response, marketers reverted to fundamental marketing tactics, emphasizing demand creation, brand awareness, and targeting top-of-funnel prospects. The significant rise in organic traffic during 2023 underscores the importance of content in B2B journeys: Buyers embark on their journey as curious website visitors, seeking education and quality content to address their needs and support their decision-making process. After all, it’s a funnel – first comes education and only then it is followed by conversion.
So… What about 2024?
As demand levels stabilize, marketers are gearing towards a more sustainable approach, prioritizing long-term investments in infrastructure to support brand awareness, enrich buyer experiences, and cultivate engaging content for SEO. This strategic pivot reflects a departure from the reactive marketing tactics observed during periods of high demand, instead advocating for a more holistic approach to driving business growth. By laying the groundwork for robust marketing foundations, businesses can adapt more effectively to evolving market dynamics and position themselves for sustained success in the years to come. Here are some actionable steps you can implement today:
- Buyer-Centric Approach: Place a greater emphasis on understanding and addressing the pain points of your target audience. Develop solutions and messaging that resonate with their needs, fostering trust and loyalty over time.
- Thought Leadership Content: Establish authority in your industry by producing thought-provoking content that addresses industry challenges and trends. Invest in producing whitepapers, case studies, webinars, and podcasts to showcase expertise and provide value to your prospects.
- Data-Driven Decision Making: Sounds a bit obvious… but there are always ways to improve in this realm. Embrace data analytics to understand buyer behavior and preferences. Utilize insights to tailor marketing strategies for specific audience segments, enhancing relevance and engagement.
- Invest in Infrastructure: Prioritize a robust technological backbone to support all your marketing activities, enabling seamless coordination and data transfer across platforms for a 360-degree approach.
Playbook: Learn How the Leading HR Tech Company Generated 9X uplift to SQLs
Discover how HiBob, a leading Human Resources platform, transformed its website experiences to scale-up conversions. Learn from Omri Zamir, HiBob’s senior Growth Manager, as he shares insights on optimizing website experiences, tailored to each prospect’s product preferences and specific stage in the buying process. Explore the playbook that led to a 5X increase in conversion rates to MQLs and a staggering 9X uplift to SQLs.