ON24 Announces 2024 Digital Engagement Benchmarks Report, Finding Personalization Has Greatest Impact on B2B Marketing Performance
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The findings from ON24's '2024 Digital Engagement Benchmarks Report' underscore a pivotal shift in B2B engagement strategies. The noted increase in interactions and buying intent signifies a deeper integration of digital platforms in the sales and marketing funnel. The data suggests that personalization is no longer a luxury but a necessity for companies aiming to enhance their conversion rates and overall revenue performance.
From a market research perspective, the reported 60% rise in product demonstration requests is a strong indicator of effective lead qualification and could translate to higher sales conversion rates. The 70% increase in engagement with calls-to-action reflects a growing trend where personalized marketing efforts are directly influencing buyer behavior. This level of engagement is a critical metric for businesses to consider when allocating their marketing budgets and resources.
Furthermore, the doubling of content hub visitors and the 40% rise in content views for personalized experiences highlight the burgeoning demand for tailored content, which is essential for businesses to maintain a competitive edge. This trend also points to the potential for increased investment in AI and machine learning technologies to deliver scalable personalization, thereby creating a more robust digital ecosystem for B2B transactions.
The report's insights into digital engagement and personalization have significant implications for the financial performance of B2B enterprises. The correlation between personalized digital experiences and doubled engagement metrics could indicate a direct impact on the top-line growth of companies that successfully implement these strategies.
Investors should note the reported fourfold increase in the progression of the buying journey for personalized experiences, which could lead to a higher customer lifetime value and improved sales efficiency. As businesses continue to adopt AI-driven personalization at scale, we may observe a positive effect on profit margins due to enhanced efficiency and potentially lower customer acquisition costs.
It is also worth considering the long-term strategic positioning of companies like ON24, which facilitate such engagement platforms. As digital engagement becomes more critical for B2B sales and marketing, providers of these platforms could see sustained demand, making them potentially attractive prospects for investment portfolios focused on technology and innovation in the sales enablement space.
The significant role of AI in scaling personalized digital experiences, as highlighted by the report, marks a transformative period in B2B marketing technology. The integration of AI not only addresses the scalability challenge but also enhances the precision of targeting and content relevance, which is paramount in today's information-saturated market.
The reported 13% growth in on-demand interactions signifies a shift towards asynchronous engagement, necessitating technology solutions that can provide analytics and insights across various touchpoints. This trend is likely to accelerate the development and adoption of sophisticated analytics tools capable of tracking and interpreting complex customer interaction data.
The increased demand for content, as indicated by the doubling of content hub visitors, suggests that generative AI could become an essential tool for content creation and curation. As businesses strive to meet the content needs of their audiences, the role of AI in generating high-quality, personalized content could become a critical differentiator in B2B marketing strategies.
Analysis of millions of ON24 experiences reveals global benchmarks for B2B digital engagement and ways for sales and marketing teams to increase results
Based on analysis of millions of B2B professionals engaging across hundreds of thousands of webinars, virtual events and content experiences in 2023, a critical finding is the significant impact of personalization on marketing channel performance – when a digital experience is personalized, B2B prospects and customers nearly double their engagement with calls-to-actions and are four times more likely to progress their buying journey, enabling sales and marketing teams to deliver greater ROI and business results.
"For the past decade, go-to-market teams have known the power of personalization to unlock business results, but the challenge of scaling personalization has stood in the way,” said Callan Young, CMO, ON24. “Now, with the rise of AI, we believe there is a tremendous opportunity for sales and marketers to achieve both personalization and scale, helping businesses significantly increase revenue performance while improving their efficiency. Our findings demonstrate the potential for AI-powered personalization and content to make digital engagement more intelligent and transform the B2B buying experience.”
With digital engagement continuing to grow year-over-year (YoY), the report identified the shifts in B2B customer and prospect digital behavior in the past two years, including the following highlights:
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Engagement with digital experiences is intensifying - The average number of unique interactions per attendee increased by
20% since 2021. -
B2B customers and prospects are demonstrating higher buying intent - Requests for product demonstrations per attendee from webinar experiences grew by nearly
60% . -
Personalization is making a significant impact on the B2B buying journey - Engagement with calls-to-actions increased by nearly
70% YoY, requests for product demonstrations grew by 4X and conversion rates doubled for personalized experiences YoY. -
Audiences want to engage with experiences anytime, anywhere - The average number of unique interactions per attendee within on-demand experiences grew by
13% YoY. -
Audience demand for content is greater than ever, increasing the need for generative AI: The number of content hub visitors increased by 2X YoY and content views in personalized experiences were up almost
40% YoY.
To get more insights, download the complete 2024 Digital Engagement Benchmarks Report here.
About ON24
ON24 is on a mission to help businesses bring their go-to-market strategy into the AI era and drive cost-effective revenue growth. Through its leading intelligent engagement platform, ON24 enables customers to combine best-in-class experiences with personalization and content, to capture and act on connected insights at scale.
ON24 provides industry-leading companies, including 3 of the 5 largest global technology companies, 3 of the 5 top global asset management firms, 3 of the 5 largest global healthcare companies and 3 of the 5 largest global industrial companies, with a valuable source of first-party data to drive sales and marketing innovation, improve efficiency and increase business results. Headquartered in
Forward-Looking Statements
This document contains “forward-looking statements” under applicable securities laws. In some cases, such statements can be identified by words such as: “expect,” “convert,” “believe,” “plan,” “future,” “may,” “should,” “will,” and similar references to future periods. Forward-looking statements include express or implied statements regarding our ability to achieve our business strategies, growth, or other future events or conditions. Such statements are based on our current beliefs, expectations, and assumptions about future events or conditions, which are subject to inherent risks and uncertainties, including the risks and uncertainties discussed in the filings we make from time to time with the Securities and Exchange Commission. Actual results may differ materially from those indicated in forward-looking statements, and you should not place undue reliance on them. All statements herein are based only on information currently available to us and speak only as of the date hereof. Except as required by law, we undertake no obligation to update any such statement.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240306040419/en/
Media:
Tessa Barron
press@on24.com
Investor:
Lauren Sloane, The Blueshirt Group for ON24
investorrelations@on24.com
Source: ON24
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