My 2009 B2B Marketing Predictions and Priorities

I just spent the morning preparing for this post by reading all the predictions from all of the so-called experts on what will happen in B2B marketing in 2009. The number of BLOG posts and predictions is endless, but taking the time to read them is worthwhile. I listed the best below, but just google "2009 B2B Marketing Predictions" and you can have a field day!

Why read them? Because it provides insights into where the various experts in all aspects of marketing feel things are heading. More importantly, I find that the predictions are more of a precursor to what B2B marketers should be focusing on to succeed in what will easily be the toughest market in my life time.

Rather than take the predictions approach, my list will focus on where B2B marketers should place their bets in 2009. I already weighed in on this topic with Andrew Gaffney in last week’s issue of the DemandGen Report  in an article entitled, “Demand Gen Experts Suggest Shifting Campaign Strategies to Create Prospect Dialog in 2009”. It is clear that marketing budgets are being reigned in as the recession takes hold which creates the challenge of how to do get greater results with less funds and resources. Believe it or not, that goal is not so hard to attain if we are clear on our strategic goals and match our marketing investments accordingly.

So here goes:

1. Demonstrate Thought Leadership – B2B Marketers continue to rely far too much on product promotion over web content and campaigns that emphasize the key issues your buyers are most interested in. In the coming weeks I will write more on exactly what thought leadership is and how it should be constructed and delivered to your target audience. Suffice it to say that your target audience is most interested in hearing from industry experts who share new thinking or ideas around business and technology issues – not product pitches.
2. Emphasize Lead Nurturing Campaigns over Lead Generation – Chances are your marketing database is full of leads generated in the past 12-24 months who showed interest, but were not ready to buy. Over 75% of all leads generated are NOT sales ready. They are in the market, but are in education or issue awareness mode. Well crafted thought leadership content that is delivered through multiple channels (on and offline) and via multiple ways (white papers, webinars, client case studies, BLOGs) will keep you top of mind with your target audience.
3. Think Community, NOT Soap Box -The success of your lead nurturing process lies in how your education process invites your audience to participate in the issues discussion. It is very important to give your audience a way to provide feedback and to read and respond to others in the audience. Time to let go of the illusion of control in your marketing programs and be completely open to what others have to say. This means blogging and implementing a forum for clients to talk about their experiences, both good and bad. This is the best way to learn what your audience values in the way you solve problems for them and for your followers to share their learnings. B2B marketers can learn a lot of B2C retailers in their use of forums and user reviews to drive the buying process and build loyalty.
   
4. Focus on the Process – Analyze your lead generation and qualification process and identify where the process flows to move interested suspects and where it is lacking in converting contacts into sales ready buyers. This requires “thinking” like a buyer rather than a seller and analyzing your various campaigns to ensure that each step in the campaign is supported by relevant and interesting content. Content should be easy to find and access and be totally self-service to avoid making a potential buyer wait for anything. And I emphasize self-service. Buyers want transparency to separate the real experts from the wannabes. This self-analysis requires a lot of testing and follow up to get it right.

Now more than ever, buyers of technology solutions and services are only interested in hearing from and speaking with experts for the problems they are most interested in solving. Without exception, all of companies I deal with have expertise that buyers value. The problem for many is to develop and deliver that expertise to a target audience in a meaningful and differentiating manner to capture that audience’s attention.

Now is NOT the time for knee-jerk reactions where you pull back from marketing programs that clearly deliver results. Phil Lay at The Chasm Group Advisors wrote one of the better pieces on turning the current downturn into an opportunity. Phil states that, “these are times when, to echo Warren Buffet’s famous saying, sound – even contrarian – thinking can guide you to strategy that differentiates your company from its closest competitors, while most of them are still taking refuge in the bunker.”

What I have seen in the past 90 days is many B2B marketers have pulled back and reduced the number of campaigns, while the smart and committed ones have actually increased their lead nurturing campaigns to existing leads. I believe that buyers are trying to figure what they should do more of and less of during the recession to deliver results to their bosses and companies. Now is the time for B2B marketers to ensure they have strong thought leadership content delivered online that emphasizes repeatedly their expertise and how they deliver value in solving their audience’s problems.

I would love to hear your thoughts on this topic and for you to share how you plan to combat the effects of this recession.

Here are links to the top posts on 2009 B2B marketing predictions:

The Big List of 2009 Marketing Predictions

Let the 2009 Trend Lists Grow

Comments

[Christopher Contois]

Henry,
Well said. You reminded me that marketing is like the stock market. When times are rough, smart investors invest. We have begun taking advantage of the discounts that companies' advertising departments are providing. Now we can test different promotions on various sites that are typically out-of-reach financially for us. The results, thankfully have been very positive. Thanks for your words of wisdom.

-Chris

[rockannand]

Thanks Chris,
I just finished some catch up reading and caught Brian Stolle's post entitled "How to Survive and Thrive" in the recent Sandhill.com newsletter: http://www.sandhill.com/opinion/editorial.php?id=218&page=2
He provides 10 things that SW execs should consider carefully and his 4th point involves marketing.

He says, "Crank up the marketing. Leading consumer companies are notorious for ratcheting up their marketing efforts during recessions. There are a few reasons for this. One, they improve mindshare – and hopefully market share – as customers prioritize spending more carefully. Two, marketing provides air cover for the all-important sales process. And finally, increased marketing expenditures can drive weaker competitors from the market."

I could not agree more. If budgets are tight, consider doing one less trade show and instead invest in a 6 month thought leadership campaign using existing content delivered through webinars, newsletters and white paper promos that keeps you top of mind.

Its about making the right choices. I will pass along more pieces like Brian's in the coming weeks.

[Andrew]

I can't imagine any companies will actually increase spending in this climate, but our recent research shows more dollars going to lead generation and lead management. As you point, an intelligent and process-oriented approach here will separate the weak from the strong.

[rockannand]

Thanks Andrew,
In my recent conversations with colleagues, clients and prospects, I am still struck by how much senior executives are focused on traditional approaches to marketing and an over-reliance on the sales org to generate leads and fill the pipeline. At the recent NRF show in NYC, there were plenty of SW companies in the exhibit area staffed with sales and marketing folks with not much activity. I say cut or eliminate the big trade shows and invest in the audience they have already cultivated.