The Future of B2B Marketing
What’s Holding You Back
OK, so you understand that buying has changed and that you must adapt to the new realities of how marketing and sales need to work together. You want to work as a team to generate pipeline and revenue at every stage of the customer journey. You want to focus on quality, not just quantity. You want to focus on accounts and people. But you can’t. Your existing marketing technology is holding you back. Trust me, I should know — I was instrumental in building them.
The current marketing platforms were designed with a specific marketing process in mind: Marketing generates leads for new business, nurtures them, and passes them to Sales when they’re ready. And they are very good at this process. But they were not built to handle what’s needed today: navigating across accounts, people and buying centers; expanding existing customer relationships by cross-selling additional products; and supporting a dynamic, synchronized process where marketing and sales work as a team.
Put simply, you won’t be able to deliver on B2B Marketing today and for the next decade using technology that was built more than a decade ago. Trying to do so results in the pains many of you are so familiar with today: struggling to create enough pipeline, poor marketing and sales alignment, difficulty moving upmarket, slugging expansion revenue.
Current marketing technology prevents teams from embracing true B2B, account-based growth due to three major gaps:
- Fragmented data prevents teamwork. In standard, existing marketing technology infrastructure, the data you need about people and accounts are scattered and fragmented. Sales is often operating in an account-based mindset, while much of Marketing is lead-based — the two teams are working in different systems and looking at different data. There’s no comprehensive view of people, accounts, and buying centers, there’s no single source of truth.Because of this, Sales can’t see what Marketing is doing with their accounts and Marketing doesn’t know what Sales is doing (because we all know reps never log their activities, right?).Your teams can’t work together if they can’t even see what the other team is doing.
- “Lead-only” systems create unnecessary complexity. Traditional marketing automation (MAP) is built around the person, not the account.This affects the customer/prospect experience. Lead-only systems struggle to make sense of where the broader account is in the buying journey, which makes it hard to deliver the right experience for each persona and buying stage.Some companies respond by converting all leads to contacts, but this can be manual and expensive (we know of one company who estimated they spend $78,000 a year on this!). And even then, marketers still end up building complex networks of campaigns to ensure people get the right interactions. Marketing operations professionals are familiar with the resulting mess we call “spaghetti campaigns”. These are often so confusing that when an admin moves to another company, nobody understands how to manage the custom system left behind.
- Quantity-focused metrics measure the wrong things. We all know you can’t manage what you can’t measure, but the analytics built into existing marketing platforms technology focus on counting things (# leads, # responses, # opportunities, etc.) and not measuring the quality or value of each relationship. They also only measure marketing touches, ignoring critical sales interactions. What’s more, they focus only on the impact of Marketing on the initial sale, not beyond (expansion, retention, etc.).The result is that marketers struggle to show the value of their account-based marketing efforts and spend hours in spreadsheets to demonstrate the impact of their efforts.
Watch the Predictions
Want to hear from experts in the industry about the future of B2B marketing? You’re in luck!
We’ve got predictions by Maria Pergolino, Randy Frisch, Katie Martell, Matt Heinz, Justin Gray, Maneeza Aminy, Craig Rosenberg, and Engagio’s own CEO Jon Miller.
Are You Ready?
Wondering how prepared you are for the future of B2B marketing? Or maybe you’re just wondering what sort of sea creature astronaut you are?
Take the quiz to find out how you’ll fare in outer space, the final marketing frontier!