- On January 7, 2020
The MuleSoft 2019 Connectivity Benchmark Report has been released, outlining some of the most pressing problems faced by decision makers from B2B IT enterprises around the world.
Let’s break down some of the key stats from 2019, and discuss how tech vendors and their partners can work to overcome these issues in 2020 and beyond.
(For the full report, click here)
1. “The top two goals organisations report this year are increasing business efficiency (77%) and increasing operational efficiency (79%)”
Key Takeaway: In order to generate more leads, sales, and overall revenue in 2020, businesses will be forced to become more efficient with their available resources. Making well-researched investments into sales, marketing & ERP software can provide your internal team & partners with better results for less.
2. “Only 36% [of all respondents] were able to deliver all projects asked of them last year.”
Key Takeaway: Due to the aforementioned time and budget cuts that will occur this year, leaders may need to initiate fewer overall projects, and put more thought & research into the ones they do. Businesses can aim to improve feedback & communication systems with their sales partners, as they are aware of the most pressing customer pain points. Successful projects can then be initiated based around this feedback.
3. “Despite the fact IT project demands will increase by 32% this year, the majority (79%) of IT respondents will see a budget increase of less than 10%”
Key Takeaway: In order to meet their ever-increasing sales targets in their ever-decreasing available time & budget, leaders will have to find new ways to increase efficiency across the board – this includes improving system/data management and finding new ways to improve partner performance.
4. “The majority (69%) of IT’s time remains dedicated to keeping the lights on, instead of innovating”
Key Takeaway: The tech industry is constantly changing, and it moves fast – much faster than many other industries. Because of this, ‘just getting by’ without any room for innovation is the #1 cause of tech company stagnation.
5. “Only 36% [of all respondents] believe they provide a completely connected user experience across all channels.”
Key Takeaway: Vendors across the channel spectrum are suffering as a result of disjointed partner marketing efforts. In todays hyper-connected world, B2B and B2C vendors alike are beginning to see the value of the ABM model, which many are hailing as the future of channel marketing. (To learn more about the ABM model, click here or get in touch).
Unsurprisingly, customer experience has remained a top priority for tech companies, with 71% of IT leaders stating this as a top priority in both 2018, and again in 2019. Vendors will need to work closer than ever with partners to create unified marketing campaigns and easily accessible customer support, encompassing all touchpoints.
If you’d like a deeper discussion on how to increase partner marketing performance, create unified product/brand campaigns or any other issues mentioned, get in touch.