What drives growth in B2B, the convergence of B2B with B2C and more.
The landscape of B2B marketing is evolving rapidly, with multiple factors influencing its growth and direction, such as demand forces and brand investment. In this episode, we explore various perspectives and insights from experts, such as the convergence of B2B and B2C marketing trends, the role of technology, and the importance of building long-term relationships. We also delve into the challenges and opportunities B2B marketers face, adapting to AI, and addressing the click culture in digital advertising. By understanding these factors, businesses and marketers can gain insights to navigate the changing B2B marketing landscape and harness its potential for growth and success. Read the full report here.
Thank you, Chris Murray and Alex Bacon, for your contribution.
Host
Joaquin Dominguez, was joined by marketing experts to discuss the topic.
Guests
Chris Murray, Paid Media Specialist, Adaptivist
Alex Bacon, Marketing Director, CloudDirect
Growth in B2B Marketing will be Dictated by Demand and Brand Investment.
Chris Murray, Paid Media Manager at Adaptavist, believes businesses will continue to invest as long as there's strong potential for growth. However, it remains to be seen whether B2B marketing spend will ever match that of B2C marketing. For example, online shopping proliferated due to significant consumer behavioural shifts, rapidly growing the customer base for brands in B2C verticals. The B2B market, on the other hand, is potentially more dependent on the economic environment and technological advancements, which could enable or limit target market growth. Chris also suggests that the pace of B2B growth could depend on the degree to which companies adopt brand-focused advertising, similar to the strategies used by successful B2C companies in recent decades, as these approaches require longer-term commitments, different perspectives on measurement and higher rates of investment.
Growing together: The Convergence of B2B and B2C Marketing Trends
Alex Bacon, Chief Marketing Officer at Cloud Direct, highlights that a considerable part of the sales cycle now occurs before salesperson involvement, with customers researching online. That research allows the use of remarketing technologies and cross-channel advertising. For example, starting a campaign on LinkedIn and then retargeting on Facebook, outside their work environment, is becoming more common. As people engage with work-related content during their personal time, and vice versa, the distinction between B2B and B2C advertising may continue to fade.
Perspectives for the Tech Sector: Specialisation and creative marketing
Alex believes there are now more players in the tech sector, including smaller, specialised organisations. Businesses are increasingly seeking niche SaaS solutions. These smaller companies reach decision-makers through targeted, high-value digital advertising instead of investing heavily in brand recognition or traditional channels such as trade shows. More innovative marketing strategies are essential for these niche organisations to maximise their budgets.
Chris asserts that converting decision-makers remains essential, but identifying and reaching influential users within organisations is increasingly important for defining effective B2B audiences. Everyday users may research or test a tool directly - potentially signing up with personal details - to establish the value it adds to their job and go on to recommend it to their team and/or company, including the traditional decision-makers and budget holders. Ultimately, this can lead to broader organisational adoption of niche solutions and contribute to growth in various industries.
Shifting B2B Marketing Mindsets: From Leads to Long-term Relationships
Chris and Alex agree that many B2B marketers are moving away from the traditional digital marketing mindset, which focuses solely on lead generation, towards a more holistic approach that emphasises building long-term relationships with prospects and customers. For instance, adopting a "Teach, don't sell" approach can foster valuable conversations, support prospects throughout the buying cycle, and ultimately result in stronger relationships and improved conversion rates. A significant development in this area is the creation of online communities that encourage problem-solving conversations, which may even involve mentioning competitors' solutions. This approach helps businesses build trust, retain customers, cross-sell products, and turn customers into engaged brand evangelists.
The Evolution of B2B Marketing Skills: Adapting to AI and Data-Driven Approaches
Alex believes that the "click culture" in digital advertising poses challenges for marketers, as platforms often prioritise generating clicks, even from accounts outside targeted lists. This misalignment of interests can result in many clicks from uninterested or unsuitable users, leading to wasted marketing spend. To tackle this issue, marketers should focus on refining their targeting strategies and implementing control mechanisms, such as metrics that analyse lead quality. For instance, comparing Click-Through-Rate between targeted and non-targeted accounts can provide valuable insights.
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