Ask CMOs what tops their challenges list, and most admit that improving marketing's accountability ranks right up there.
B2B marketing execs worry about measuring marketing performance a bit more than B2C since a direct sales force and/or channel partners are largely responsible for the last mile of the customer purchase process.
Managing marketing performance is a perennial issue all marketers face.
Unlike revenue growth or margin, there are few accepted answers to the question, "What value does the business get from your marketing investment?" Typical answers focus on pipeline, which Sales then hotly contests.
Great marketing content can fuel your company's demand generation engine. It can boost your brand's visibility to key audiences and bump aside competitors. Most of all, it attracts buyers interested in the types of challenges your company can solve. Because, as successful marketing execs know, business buyers don't buy your products and services; they buy into your approach to solving their problems.
. . . Ok, maybe not so "live" because it is now late in the evening on the day of the conference, but I'd like to share a few insights I gathered about the state of business-to-business (B2B) digital marketing today.
BtoB magazine's one-day event features frank conversational discussion from top B2B brands (mostly tech ones like Cisco Systems, Intel, SAP, VMware, Tellabs, and IBM) in moderated panel format. Digital lead generation/pipeline augmentation, social selling, agency trends, building B2B community, developing engaging content, and mobile marketing filled out the agenda.
This was my second year at the event, and the highlight again was the social media awards. Featuring 10 categories ranging from integrated campaign, to Twitter, mobile, and Pinterest, BtoB singles out top performers in social marketing. It also unveils tech and nontech people's-choice awards as voted on by subscribers.
You can find the full list here, and I hope BtoB will publish the scripted descriptions in a future edition because all honorees were interesting and unique and offer B2B marketers a look into how to use social to advance business. Heartfelt congratulations to all award winners — well deserved!
Looking over the list, here are a few observations you can take away about the state of social marketing in B2B:
Wait a minute . . . this all looks very familiar . . . I think I've been here before . . .
After almost three years at Xerox, I returned to Forrester Research in January to resume my quest to remake business-to-business (B2B) marketers and advance their standing in the corporate world. It's great to be back, and while much has changed, still more remains the same.
After spending opening day at CES, I couldn’t agree more with my colleague Sarah Rotman Epps in her blog post that CES matters more now than ever to every marketer, product strategist, and C-level executive in every industry. Across the CES floor, connected TVs, tablets of all sizes, and a new breed of “phablets,” combining the form factor of tablets and smartphones into one, confirmed the fact that we’ve left the PC-dominated world behind for a mobilized and connected home and work life where content and context will dominate.
What struck me while I walked the floor at CES was that Peppers and Rogers were actually way ahead of their time. Remember them, the ones who wrote The One to One Future way back in 1996, well before the digital age became a reality? Their vision continues to become a technology-powered reality. With CES showing an abundance of new ways to connect with mobilized customers, the ability to target, reach, and effectively communicate with customers one-to-one, customizing and personalizing messages and offers to their unique needs, is increasingly within the reach of the marketer.
Available channels to the customer exploded on the CES floor to include everything from connected TVs and other devices in the home to all types of mobile devices and ruggedly made tablets built for the enterprise and everything in between. All are connected and share content in the right context to the devices consumers or business customers want, when and where they want it — just like Peppers and Rogers dreamed would happen.
The silver lining on Apple's iOS6 Maps App snafu is that it has fueled much humorous poking. My favorite so far is the photo going around Facebook of Tom Hanks in "Cast Away." There is also a blog called "The Amazing iOS 6 Maps" that includes a collection of Maps mishaps sent in by users. It seems that negative product and service experiences often turn into comedy (remember "United Breaks Guitars"?). A funny photo or link shared on Facebook is often how product issues are initially brought to our attention.
As a prequel to some of what we'll hear from Laurie at our event, we sent her questions about the FedEx customer experience and why she sees it as a competitive advantage. Her answers appear below.
Q: How would you describe the experience that you want FedEx customers to have?
A: Relationships oftentimes start with a simple handshake. For example, when you meet someone for the first time and extend your hand in greeting, you’re offering to build a relationship. In the same way, we want to offer a hand to our customers to establish a personal and meaningful connection. After all, FedEx is more than just delivering packages. We’re an innovative company that thrives on delivering solutions and programs that meet our customers’ needs and expectations.
Back in February 2009, I wrote a report titled “A New SMB Market Phoenix Is Rising” which examines how small and medium businesses (SMBs) will be the initial source of job growth and creation which leads us out of the current recession, as they have in most previous recessions. The report also examines how SMBs use technology, and how technology vendors can best market to them - this figure highlights my conclusions.
Today, Paul Kedrosky, who has a Ph.D. in the economics of technology and writes extensively on macro-economic trends, wrote a piece I found very insightful about why young firms (small businesses) not only historically account for most of the job growth in the United States, but that their doing so is mathematically inevitable.
My upcoming report, “Fueling the New SMB: Marketing Services-as-Software” on this topic, will work its way through our editing process in the next week. In the meantime, I encourage you to read his post and my older report and let me know if they match what your marketing team is seeing today.