The B2B Marketing Growth Model
You heard it here first. It’s time to rip up the B2B marketing rule book. Why? Because it’s not working. In 2019, a research study, funded by LinkedIn, looked at the issue of declining returns from B2B marketing. The resulting report suggested a desperate need for change.
Prepared to re-write the book, with a decade of digital marketing experience and strong know-how into quality content, we have Bian Salins, who heads up Content Marketing Consulting at LinkedIn (EMEA & LATAM).
Speaking at Digi Conf 2020, Bian talked virtual attendees through the five new principles of effective B2B marketing.
The value of marketing
Bian began her talk by echoing the great Peter F. Drucker: “There are only really two functions in an organisation and that’s marketing and innovation.”
And yet in the B2B space, there is still an ongoing fight to make many organisations see the value.
Bian expanded: “We influence growth by expanding markets, market penetration and entering new segments – so where is all going wrong? Businesses seem to value marketing less than ever. Marketing has gone from having a place, product, pricing and promotion to really just becoming a role of communication.”
Research strongly suggests that it really is all going wrong. The effectiveness of marketing is decreasing, and even marketers themselves agree. So, what do we do?
We go back to basics, we research and find new avenues for growth.
Balancing the principles
Bian explained that Les Binet and Peter Field had “identified a balanced set of principles” to help us on our way. Surprisingly, she said: “The first thing they identified was that really we weren’t getting it wrong as b2b marketers.”
The research made it very apparent that marketers have been focussing on one area of the marketing funnel only. Bian explained: “We were focussed on the short-term. We were focussed on volume. And we were only going for awareness, impressions and reach. We were so focussed on just being reasonable-minded and rationale in the way that we were communicating. We were really very narrow-targeting in everything that we were doing.
“And finally, we always thought about just getting business from existing customers and our focus was very often around that. And what the research has shown is that the principles that really work aren’t one or the other, it’s all about maximising balance: short-term with long-term thinking; awareness with fame or the aspiration to drive for fame; reason with emotion.”
In essence, B2B marketers need to be bolder and braver. As Bian said: “B2B ads are often forgettable”, but it doesn’t need to be that way. You’ll see results as soon as you look beyond vanity metrics and begin exploring the entirety of the marketing funnel. Trust us.
Watch the full video below where Bian delves deeper into effective B2B marketing and complementary principles. And to hear more from our expert speakers, just click here to view all our DigiConf sessions.