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From a recent talk about how the nature of the sales and marketing partnership has evolved at leading organizations. What's the value in an expanded role for marketing that includes customer experience, strategy and product input?
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8 April 2023 Copyright © Econsultancy
The Reinvention of B2B Marketing
Stefan Tornquist, VP Research@MarketingStefan
Findings from Econsultancy Studies ofB2B Transformation, Technology, Budgets and Strategic Priorities
ECONSULTANCY
8 April 2023 2
We help our customers achieve excellence in digital business, marketing and ecommerce through research, training and events.
Founded in 1999, Econsultancy is used by more than 600,000 professionals every month.
The next 45 minutes…
• The Changed State of B2B Marketing
• The Study – the new sales/marketing balance
• 5 takeaways
• Q&A
RESEARCH PREMISE
8 April 2023 4
8 April 2023 Lessons of the Global 1,000 5
77%Econsultancy, 2014
8 April 2023 Lessons of the Global 1,000 6
1995
Don E Schultz, Martin P Block and Vijay Viswanathan, 2012
8 April 2023 Lessons of the Global 1,000 7Don E Schultz, Martin P Block and Vijay Viswanathan, 2012
15%
8 April 2023 Lessons of the Global 1,000 8
2010
Don E Schultz, Martin P Block and Vijay Viswanathan, 2012
`
8 April 2023 Lessons of the Global 1,000 9Don E Schultz, Martin P Block and Vijay Viswanathan, 2012
65%+
Reasoning
#1 – shift driven by customers
#2 – marketing has to evolve and grow into the gap
#3 – companies successfully making this transition will enjoy higher growth and other advantages
8 April 2023 10The Reinvention of B2B Marketing
THE STUDY AND RESPONDENTS
8 April 2023 11
The Reinvention of B2B Marketing Study
8 April 2023 12
Conducted with
Nearly 600 responses
Revenues $250 million and up
Director and above (EVP/CMO 42%)
Broad range of B2B industries
The hipsters
8 April 2023 13
8% Marketing led
Newer
Ecommerce models
Tech/digital heavy
The traditionals
8 April 2023 14
34% Sales led
Traditional
Sales runs revenue
Limited role in growth strategy
Awareness and top of funnel
8 April 2023 15
58% “Partnerships”
Modern B2B marketers
8 April 2023 16
28% True partnership
Role in strategy outside of marketing
Revenue responsibility (often stand alone)
Significant/leading role in CX and product
Traditional with modern trappings
8 April 2023 17
30% False partnershipTraditional in modern clothing
Some role in lead generation strategy
May have shared revenue responsibility
Limited/no role in CX or product dev
Worst case for marketers
Which are you?
8 April 2023 18
8% Marketing led
19% True partners
42% False partners
36% Sales led
Growing faster than their sectors…
8 April 2023 19
8% Marketing led
19% True partners
42% False partners
36% Sales led
74%
70%
40%
52%
The benefits of a true partnership (top 2 choices)
Easier to attract top talent
Improved lead quality / more efficient lead handling
Better customer retention
More efficient media/events/awareness spending
Faster adaptation of products / services to customer needs
Positive impact on growth
0% 15% 30% 45% 60% 75%
21%
31%
38%
40%
45%
70%
THE DIFFERENCES
8 April 2023 21
The old school
Channel management
Customer experience & lifecycle management
New product and/or service innovation
Digital innovation & capability development
Customer research & insights
Sales support
Promotions / merchandising
Brand strategy & communications
0% 20% 40% 60% 80% 100%19%
25%
31%
36%
50%
55%
65%
74%
19%
32%
38%
47%
59%
67%
72%
85%
The new school
Channel management
Customer experience & lifecycle management
New product and/or service innovation
Digital innovation & capability development
Customer research & insights
Sales support
Promotions / merchandising
Brand strategy & communications
0% 20% 40% 60% 80% 100%36%
69%
56%
50%
69%
53%
70%
86%
37%
60%
70%
53%
76%
72%
76%
84%
19%
25%
31%
36%
50%
55%
65%
74%
19%
32%
38%
47%
59%
67%
72%
85%
The new school
Levers for growth ranked…
8 April 2023 25The Reinvention of B2B Marketing
Respect + responsibility
8 April 2023 26The Reinvention of B2B Marketing
Executive mgmt. Product Customer svc. Sales Finance IT2
3
4
5
6
7
8
6.46.1
5.75.4
5.24.8
7.1
6.66.4 6.3
5.9
4.9
7.57.1 7
6.8
6
5.4
7.67.4 7.4
6.76.3 6.3
Sales led False partnership True partnership Marketing led
THE MOTIVATIONS FOR CHANGE
8 April 2023 27
Motivations for Change
Cost cutting/efficiency measure
Falling revenue/slowing growth
Consolidation of customer experience under one organization
Competitor activity
New understanding of value prop/customer experience
New executive leadership
19%
29%
31%
34%
43%
43%
Motivations for Change
Velocity of change1.Competitor activity2.New leadership3.Falling revenue
Motivations for Change
Velocity of change1. Competitor activity2. New leadership3. Falling revenue
Degree/Duration of change1.Competitor activity2.Consolidation of CX3.New understanding of
value prop/customer
CUSTOMER CENTRIC?
8 April 2023 31
32
85%
“High/Top priority”
Customer-centrism
33
47%“Measure & understand financial impact of CC”
Customer-centrism
34
47%“Measure & understand financial impact of CC”
Customer-centrism
63%
35
27%“Use customer satisfaction in determining compensation”
Customer-centrism
36
27%“Use customer satisfaction in determining compensation”
Customer-centrism
43%
BEST TOOLS FOR THE JOB
8 April 2023 37
Analyzing the leaders: keys to success
Engaging outside help to (re)define processes and requirements
Implementation of enabling technologies, like advanced CRM or marketing management tools
Embedding new marketing leadership and talent
Executive team involvement and support for the changes
Reorganization away from "silos" / strict lines between teams
30%
47%
52%
56%
57%
Engaging outside help to (re)define processes and requirements
Implementation of enabling technologies, like advanced CRM or marketing management tools
Embedding new marketing leadership and talent
Executive team involvement and support for the changes
Reorganization away from "silos" / strict lines between teams
30%
47%
52%
56%
57%
Analyzing the leaders: keys to success
Engaging outside help to (re)define processes and requirements
Implementation of enabling technologies, like advanced CRM or marketing management tools
Embedding new marketing leadership and talent
Executive team involvement and support for the changes
Reorganization away from "silos" / strict lines between teams
30%
47%
52%
56%
57%
Analyzing the leaders: keys to success
Engaging outside help to (re)define processes and requirements
Implementation of enabling technologies, like advanced CRM or marketing management tools
Embedding new marketing leadership and talent
Executive team involvement and support for the changes
Reorganization away from "silos" / strict lines between teams
30%
47%
52%
56%
57%
Analyzing the leaders: keys to success
Engaging outside help to (re)define processes and requirements
Implementation of enabling technologies, like advanced CRM or marketing management tools
Embedding new marketing leadership and talent
Executive team involvement and support for the changes
Reorganization away from "silos" / strict lines between teams
30%
47%
52%
56%
57%
Analyzing the leaders: keys to success
BUILT TO INNOVATE
8 April 2023 43
44
36%“Balance between breakthroughs and customer requests…”
Balanced innovation
54%
45
39%“Ideas from all levels”
Balanced innovation
46%
Leaders…
8 April 2023 46
• Make decisions with experiments
• Understand failure is normal
• Careers are safe (70-20-10…or20)
THE APPROACH TO TECHNOLOGY
8 April 2023 47
Would you say?
Our digital marketing technologies…empower everything we do.
Leaders are 10x more likely than the rest (40% to 4%)
8 April 2023 48
Would you say…
Our digital marketing technologies…empower everything we do.
Leaders are 10x more likely than the rest (40% to 4%)
8 April 2023 49
Tech and the leaders…
8 April 2023 50
Getting the most from existing tech
Integrating new tech
Using existing data
Identifying new tech
Integrating new data sources
Legacy issues
Tech and the leaders…
8 April 2023 51
Getting the most from existing tech
Integrating new tech
Using existing data
Identifying new tech
Integrating new data sources
Legacy issues
PEOPLE AND CULTURE
8 April 2023 52
53
“Difficulty attracting and keeping digital talent”
How do we keep talent?
57%
54
57%
“Difficulty attracting and keeping digital talent”
How do we keep talent?
31%
What’s different at Leaders
• Regular evaluation
• Upskilling
• Train before hiring
• Know where “up” is8 April 2023 55
SUMMARY POINTS
8 April 2023 56
Summary
Career paths for digitals…up and even outTechnology is an investment in peopleExperiments don’t covet the corner officeEnd the cold war (get rid of the silos)The story of change is the story of the customer (and a dose of competition)
8 April 2023 57The Reinvention of B2B Marketing
Summary
Career paths for digitals…up and even outTechnology is an investment in peopleExperiments don’t covet the corner officeEnd the cold war (get rid of the silos)The story of change is the story of the customer (and a dose of competition)
8 April 2023 58The Reinvention of B2B Marketing
Summary
Career paths for digitals…up and even outTechnology is an investment in peopleExperiments don’t covet the corner officeEnd the cold war (get rid of the silos)The story of change is the story of the customer (and a dose of competition)
8 April 2023 59The Reinvention of B2B Marketing
Summary
Career paths for digitals…up and even outTechnology is an investment in peopleExperiments don’t covet the corner officeEnd the cold war (get rid of the silos)The story of change is the story of the customer (and a dose of competition)
8 April 2023 60The Reinvention of B2B Marketing
Summary
Career paths for digitals…up and even outTechnology is an investment in peopleExperiments don’t covet the corner officeEnd the cold war (get rid of the silos)Without incentive, strategy is a good intentionThe story of change is the story of the customer (and a dose of competition)
8 April 2023 61The Reinvention of B2B Marketing
Summary
Career paths for digitals…up and even outTechnology is an investment in peopleExperiments don’t covet the corner officeEnd the cold war (get rid of the silos)Without incentive, strategy is a good intentionThe story of change is the story of the customer (and a dose of competition)
8 April 2023 62The Reinvention of B2B Marketing
8 April 2023
Thank You!
63
@marketingStefan
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