PR “Contributing to 74% of New B2B Business Leads” According to UK Study
Yet, 43% of British B2B business development teams don’t use earned media
London, United Kingdom – 20th December 2022: Senior B2B marketers report that public relations (PR) contributes to or is responsible for 74% of all new business opportunities, according to an independent study – “B2B PR for Growth” – commissioned by Champion Communications. Despite this, the study also finds 43% of business development teams in British B2B companies do not see or use editorial coverage as a sales enablement tool. 36% of senior marketing decision-makers admit their business development teams do not appreciate the power of earned media coverage.
The research, conducted by Vanson Bourne, questioned over 100 UK-based senior marketers from B2B companies on their objectives for investing in PR: The top answers given were:
Generating trust, validation, and credibility (60%)
Generating brand awareness (54%)
Nurturing sales conversations (54%)
Lead generation (50%)
Increasing demand in products and services (46%)
In relation to last year’s sales results, senior marketing decision-makers were asked: What percentage of your organisation’s Marketing-Qualified Leads (MQLs) have been generated through PR efforts? 41% said 80% or more with the average response being 74%.
Harry Webster, Co-Managing Director at Champion Communications said: “We conducted this research to get an authoritative view on the way in which B2B companies are using public relations to drive growth. As the economic climate tightens, businesses are looking at efficient and effective ways to drive business development, and these results clearly make the case that PR has a big role to play in terms of generating leads and nurturing prospects.
It is also clear that the business development teams could do more with the output from PR activity, with over half reportedly not using editorial, according to senior marketing professionals. This seems like a wasted opportunity, that in many cases might be easily fixed by bringing business development and PR teams closer together.”
Webster continues: “We often find that by working with the business development teams, the strongest stories emerge. They know first-hand what prospects are dealing with, responding to and ignoring. By collaborating with those on the front line, PR leaders can do more of what makes selling easier and less of what is going to waste.”
Francis Ingham, director general of the Public Relations and Communications Association, (PRCA) added: “This research serves to highlight the ongoing and increasing value that B2B public relations delivers in terms of business development. Whilst other marketing tactics come in and out of fashion, the ability to tell a good story to the right audience in a way that generates third-party endorsement has never been more vital at a time when B2B buying is ever-more complex and decision makers are in need of answers to problems the world has not faced before.”
“The authority, credibility and animation that a PR strategy can generate for a B2B business is unlike any other marketing tactic and I hope that the future sees greater alignment between business development and PR, as it is clear from this research that that is when the magic happens in terms of business growth.”
About Champion Communications Champion Communications is an award-winning UK Based B2B PR Consultancy, dedicated to helping its clients grow. We work with ambitious, fast growth disrupters and multinational corporations to generate awareness, validation, credibility and trust which support business development objectives.