B2B Digital Marketing and ROI Measurement: Challenges and Opportunities in the Business-to-Business Industry for MSMEs in Indonesia

In order to maintain growth and competitiveness in the modern business environment, digital marketing must be strategically integrated, especially for Micro, Small, and Medium-Sized Enterprises (MSMEs) that conduct business-to-business (B2B) transactions. This study looks into the potential and difficulties that come with B2B digital marketing as well as how to measure return on investment (ROI) for MSMEs in Indonesia. Surveys and in-depth interviews were used in a mixed-methods approach to collect both quantitative and qualitative data. The results show that MSMEs have widely adopted digital marketing tactics, with social media and content marketing being the most popular. There are still issues like tight budgets, hard ROI calculations, and fierce market competition. The report makes actionable suggestions, such as group marketing campaigns, the creation of uniform ROI measurements, and a focus on innovation via emerging technologies and niche targeting. The insights provide practitioners, policymakers, and industry stakeholders with practical advice for improving the knowledge of the dynamics in B2B digital marketing for MSMEs in Indonesia.


INTRODUCTION
The integration of digital marketing practices for B2B MSMEs is crucial for sustained growth and competitiveness in the current business landscape.Some key aspects of digital marketing for B2B MSMEs include [1]- [3].Digital marketing communication B2B firms should focus on building social media capabilities and leveraging digital channels for effective communication with their target audience [4], [5].Electronic marketing orientation (EMO) is an essential aspect of digital marketing for B2B firms, as it helps them align their marketing activities with the changing market dynamics [6], [7].B2B firms should focus on creating value for their customers through digital marketing initiatives, such as content marketing, social media marketing, and search engine optimization [8]- [11].B2B firms should invest in decision support systems to help them make informed decisions about their digital marketing strategies [12].Identifying and focusing on the critical success factors for digital marketing can help B2B firms achieve better results [13], [14].
MSMEs should adopt digital technology to transform their businesses and enhance their market presence during challenging times, such as the Covid-19 pandemic [15].MSMEs should focus on developing creative digital marketing strategies to engage their target audience and differentiate themselves from competitors [5], [16].MSMEs should continuously innovate their digital marketing practices to stay ahead of the competition and adapt to the changing business environment.MSMEs can benefit from government assistance, training, and program support for digitalization to help them navigate the digital ecosystem [17]- [19].By focusing on these aspects, B2B MSMEs can effectively integrate digital marketing practices into their business strategies and enhance their market presence in the rapidly evolving digital ecosystem.
It is critical to comprehend the subtleties of B2B digital marketing and ROI measurement because MSMEs in Indonesia face unique market dynamics and resource constraints.The necessity to provide these businesses with information and tactics that are appropriate for their particular environment is what drives this research, which aims to guarantee that digital marketing efforts produce observable and quantifiable results.
In the Indonesian business context, Micro, Small, and Medium Enterprises (MSMEs) play a significant role in the economy, contributing to employment and GDP.MSMEs absorb up to 89.2% of the total workforce, provide up to 99% of total employment, and contribute 60.34% of the total national GDP [11], [20], [21].However, MSMEs face various challenges, such as manual inventory management, lack of managerial skills, weak organization, and limited marketing [22]- [24].Digital marketing presents both challenges and opportunities for MSMEs in implementing B2B strategies.
The adoption of digital marketing can help MSMEs reach a wider audience, improve customer relations, and enhance their competitiveness.However, they may face challenges such as limited resources, lack of digital literacy, and the need for effective ROI measurement.
Understanding the intricacies of ROI measurement in the context of B2B digital marketing for MSMEs is crucial, as it directly influences decision-making processes and resource allocation.
Accurate ROI measurement can help MSMEs identify the most effective marketing strategies, allocate resources efficiently, and make informed decisions to improve their business performance [25], [26].Some MSMEs in Indonesia have started adopting digital marketing strategies and leveraging social media to support their businesses [9], [18].However, there is still a need for more research and case studies to better understand the unique challenges and opportunities faced by Indonesian MSMEs in implementing B2B digital marketing strategies and measuring ROI effectively.
Because it aims to clarify the intricacies of ROI calculation and B2B digital marketing for MSMEs doing business in Indonesia, this study is especially important.Through an exploration of the particular difficulties these businesses confront, the research hopes to open the door to wellinformed approaches that not only deal with present issues but also take advantage of new prospects.The principal goals of this study are complex.The primary objective of this study is to ascertain and evaluate the obstacles faced by MSMEs while attempting to embrace and execute business-to-business (B2B) digital marketing tactics in the Indonesian commercial landscape.The second goal of the study is to investigate the range of opportunities that MSMEs can benefit from when digital marketing and B2B interactions come together.Finally, the study aims to provide insights into efficient ROI measuring techniques that are adapted to the particular traits and limitations that MSMEs encounter in the Indonesian B2B market.

LITERATURE REVIEW 2.1 Development of Business-to-Business Digital Marketing
Traditional methods to a digital-first strategy have undergone a radical change in B2B digital marketing.The increasing importance of social media, content marketing, and online channels in reaching B2B audiences is highlighted in the literature [1], [27], [28].Research highlights the necessity for companies to adjust and include digital technologies into their promotional toolkit in order to maintain a competitive edge in an increasingly worldwide market [29]- [31].
One particularly important component of B2B digital strategies is content marketing.Studies highlight how important and pertinent information is for creating thought leadership, fostering engagement, and fostering trust in the business-to-business (B2B) space.The literature also looks at the difficulties MSMEs have in producing and disseminating excellent content while operating on a limited budget [32]- [34].
In current study, the relationship between social media and business-to-business engagement is a key topic.Based on research, MSMEs can establish connections with stakeholders, increase brand recognition, and cultivate relationships by utilizing professional networks and social media sites such as LinkedIn and Twitter.Nonetheless, issues like allocating resources and tailoring information for various platforms are recognized [35]- [37].
In business-to-business (B2B) search engine optimization (SEO), SEO is becoming an essential part of digital marketing plans.The literature highlights how organic search presence can boost company trust and draw in new customers.Examined are the difficulties MSMEs encounter when trying to optimize for search engines while taking algorithmic changes and changing best practices into account [38]- [41].

ROI Calculation for B2B Marketing
The research on ROI measurement in business-to-business (B2B) marketing emphasizes how crucial it is to identify and monitor pertinent metrics and Key Performance Indicators (KPIs).
Academics recommend that these metrics be matched to particular corporate goals.The difficulty for MSMEs is choosing and analyzing indicators that align with their particular objectives and limitations.
Crediting B2B ROI Attribution models are essential for comprehending how various marketing touchpoints affect B2B purchase decisions.The literature explores the application of different attribution models, such as algorithmic, temporal decay, and linear models, to the varied customer journeys in the MSME sector [24], [34], [42]- [44].
MSMEs face unique difficulties when calculating return on investment.Frequently mentioned problems include scarce financial resources, a lack of specialized analytics teams, and challenges in linking income to certain marketing initiatives.The body of research highlights the necessity of developing ROI measuring frameworks that are both straightforward and practical for MSMEs [45]- [48].

METHODS
In order to thoroughly examine the opportunities and difficulties in B2B digital marketing and ROI measurement for MSMEs in the Indonesian environment, this study uses a mixed-methods research approach.A comprehensive investigation of the intricate dynamics at play is made possible by the combination of qualitative and quantitative methodologies.

The Quantitative Aspect
A structured survey was given to a representative sample of MSMEs in Indonesia's B2B sector as part of the study's quantitative phase.In order to gather quantitative data on the adoption of digital marketing as it is today, as well as specific problems encountered, methods for measuring return on investment, and opportunities perceived, a survey questionnaire was created.

Taking Advantage of Opportunities via Innovation
The success of MSMEs that adopted digital platforms, customised content, and niche targeting is demonstrated by the qualitative observations.In the discussion, it is suggested that MSMEs can benefit from these approaches, highlighting the significance of flexibility and agility in the quickly changing digital environment.Additionally, MSMEs might obtain a competitive edge by investigating innovative technology.

CONCLUSION
To sum up, this study sheds light on the complex environment surrounding ROI assessment and B2B digital marketing for MSMEs doing business in Indonesia.The results emphasize opportunities as well as obstacles, highlighting the significance of digital initiatives in the modern business environment.MSMEs have challenges, especially when it comes to ROI calculation and budgetary management, but there is also significant room for expansion through creative thinking.
The report suggests that MSMEs work together, that common ROI criteria be developed, and that innovation be actively embraced.MSMEs can successfully negotiate the complexity of B2B digital marketing and position themselves for long-term growth by tackling obstacles and seizing opportunities.This research provides a basic exploration and practical insights that contribute to the broader conversation on effective digital marketing tactics for MSMEs as the digital world continues to change.It is expected that the suggestions made here would help MSMEs, decision-makers, and business stakeholders maximize their efforts in B2B digital marketing, resulting in the development of a strong and competitive business environment in Indonesia.