B2B Crystal Ball: Unveiling the Evolution of B2B Marketing 2.0

You’ve heard it said that understanding our past is crucial for navigating our future.

This wisdom holds true whether we’re individuals seeking our purpose, or executives and entrepreneurs striving to propel our organisations to the next level of growth.

As we approach the end of another year, it’s vital to reflect on the trends and developments that have shaped our journey. This retrospection can help us decipher what the future might hold. As a marketer who has had the privilege of shaping brands and companies (big and small) across various markets, I find this practice invaluable in making sense of the ever changing and dynamic world of marketing.

In this edition of Cup of Jo, I’ll delve into the realm of business-to-business (B2B) marketing, a field often fraught with the false illusion of having to juggle between marketing strategies, business targets, and resource constraints. Over the past year I’ve heard whispers in boardrooms and seen posts on social media questioning the effectiveness of marketing in the B2B space. While it’s surprising (and perhaps bewildering) that some still doubt the significance of marketing for businesses, these doubts can be easily dispelled with data, research evidence, and case studies demonstrating marketing’s contribution to organisational success and growth.

However, a more challenging (and intriguing) question arises – what form of marketing will drive B2B success in the next decade? And how should businesses approach marketing to fuel growth? What developments should CEOs and executives consider to evolve their sales and marketing philosophies to achieve business objectives in the coming years? These intriguing topics are what I aim to address in this article.

So, let’s gaze into the crystal ball and try to predict how marketing might evolve. Let’s prepare to embrace the changes by looking ahead with the aid of a rear-view mirror.

Seismic Shifts…

The world of B2B marketing has undergone a seismic shift over the past few decades. From the early days of cold marketing efforts to the current era of personalised, humanised experiences, the landscape has changed dramatically. Let’s take a journey through time to understand how these changes have shaped the way B2B is conducted today and its impact on the performance and growth of businesses.

The 1990s: The Dawn of Digital

At the tender age of 11, I embarked on my journey in marketing and sales, in an era where the Walkman was a symbol of status and musical freedom, and mobile phones were intriguing novelties that required belt hooks for portability. During this time, door-to-door sales was still the preferred selling tool – and that’s where I first honed my skills in my quest to earn pocket money. In the relentless and demanding world of personal selling, the salesperson has long served as the cornerstone of marketing and revenue growth in B2B activities. Through presentations to prospective customers and detailed explanations or demonstrations of products, they have left an indelible mark on the industry. Even hundreds of years later (while the use of salespeople in B2B marketing has evolved over time, it has been a critical component for several centuries, not just the 90s), these personal selling activities continue to exert a significant influence on how B2B sales and marketing is practiced today.

However, in the 1990s the advent of computers and the internet transformed the business world and B2B marketing. E-commerce was introduced, and email enabled frequent and regular communication with prospects and customers. Desktop publishing enhanced advertising as well as the importance of sales and marketing collateral. This period marked the beginning of the digital revolution in B2B marketing, setting the stage for the developments that were to come in the next decades.

The Early 2000s: Embracing Technology

The early 2000s saw a deeper integration of technology into B2B marketing processes. Businesses started to move away from traditional marketing efforts like brochures, direct mail, and print ads, and began to embrace digital channels. Personal selling took on a whole new dimension by incorporating technological developments - the specific strategies and techniques used by salespeople changed with technological advancements and shifts in consumer behaviour to make this tool in the arsenal more efficient (and potentially scalable).

The internet became a mainstay, making it essential for every company to create and maintain a digital home (website). This period also saw the rise of social media platforms like Facebook, YouTube, Twitter, and LinkedIn, which transformed the way companies communicated with their customers.

The Mid-to-Late 2010s: Connecting Through Personalisation and Humanisation

The transition into the mid-to-late 2010s marked a significant shift in B2B marketing towards personalisation and humanisation. This change was not merely a sudden realisation by businesses of the importance of building authentic relationships with their customers. Rather, it was propelled by a societal shift in how business was conducted, driven by a desire for connection and resonance. Customers no longer wanted to buy products from faceless organisations; they wanted to support businesses they cared about and felt cared for in return. They didn’t want to be just another notch on a salesperson’s proverbial belt.

In response to this demand, businesses began to leverage data and analytics to gain insights into their customers’ needs and preferences. These insights were then used to deliver personalised experiences. This era also witnessed the rise of content marketing, with businesses creating valuable, relevant, and consistent content to attract and retain a clearly defined audience. In essence, this period laid the foundational principles for modern digital marketing.

The Early 2020s: Instant Gratification and Higher Brand Expectations

Thanks to that hateful C word (COVID-19 pandemic) in the early 2020s, it ushered in an era of instant gratification and heightened brand expectations. It also led to a surge of companies transitioning to the digital space, a shift necessitated by global lockdown measures that fundamentally altered the way the world operates. This shift reset customer behaviour and expectations in dealings with businesses, and B2B was not exempt.

As people and businesses adopted more flexible models of conducting business and life, there was a corresponding increase in the adoption of digital marketing. This influx of companies buying ad space, using social media, and email marketing led to a rise in digital marketing costs. Consequently, the costs of B2B marketing and the corresponding ROI have been dramatically impacted.

Simultaneously, since millennials and Gen Zers have now become dominant players on B2B buying committees, the process of doing business with them grew increasingly digital. Marketers had to prioritise online experiences like webinars, video, and e-commerce. As a result, the average buying (sales) cycle and the purchase timeline also got longer, requiring marketers to keep buyers engaged for extended periods of time. This further increased the cost and competition of B2B marketing.

2024 and Beyond: A Holistic Approach (Crystal Ball Time…)

Looking ahead to 2024 and beyond, the trend is towards a more holistic approach to B2B marketing. Businesses are expected to focus on creating a seamless customer experience across all touchpoints (omni-channel approach).

With the dawn of Artificial Intelligence (AI) in 2023 we can expect to see more businesses scramble to adopt and integrate the technology in tools, products, and processes. Failure to do this will result in losing market relevance and eventually market share.

AI and automation are set to play a crucial role in enhancing customer experience. Businesses are expected to use these technologies to analyse customer data and deliver personalised experiences at scale. While, several reports anticipate video content to dominate social media and communication, with businesses using it to tell compelling stories (brand management anyone?) and engage their audience.

Interestingly, it appears that the lines between B2C and B2B marketing are beginning to blur as B2B evolves to adopt practices and tactics that were often used in the B2C sphere. This is B2B Marketing 2.0. It’s clear that it won’t be business as usual in the future of B2B marketing.

“Your challenge, should you choose to accept it…”

Capitalizing on B2B Marketing Evolution: Driving Business Performance and Growth

These changes in B2B marketing have had a profound impact on the performance and growth of businesses. The shift towards digital marketing has opened up new opportunities for businesses to reach a wider audience and engage with them in a more meaningful way. Personalisation and humanisation have helped businesses build stronger relationships with customers, leading to increased customer loyalty and higher customer lifetime value.

The use of AI and automation will enable businesses to analyse large amounts of customer data and gain insights that can drive business growth. And the focus on creating a seamless customer experience will help businesses to differentiate themselves in a crowded market, giving them a competitive edge.

As we look ahead to the future, it’s clear that these trends will continue to shape the B2B marketing landscape, driving innovation and growth in the process.

Let me know what you think? If there's any other leadership topic you'd like me to discuss then feel free to DM me with requests or suggestions for future consideration.

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