Thankfully, B2B Marketing 1.0 is quickly moving to the background as it's being replaced by a much more "human" form of marketing. One that some folks refer to as "B2H" ("Business-2-Human") while others call it "H2H" ("Human-2-Human").
I call it "awesome" + I know you will agree once you've had a chance to read the beautiful white paper that our resident rockstars put together on this topic (special s/o to Brittany Slattery + Brad McRae).
Please email me - email@example.com - or message me via LI - and I'll send you a copy.
But until then, I thought I'd publish a quick summary as a bitesize version to get the ball rolling as there are 64 pages + 5 chapters of thought provoking insights, ideas + gold nuggets in there.
3 Macro Trends + Insights
Business buyers have grown to expect the exceptional digital experiences they enjoy as consumers when they're wearing their "B2B" hats. Business sellers are responding - "Gartner predicts that by 2018, 25% of business and technology executives in large enterprises will have an explicit strategy to drive their organizations toward a consumer computing experience."
Products + companies that offer the lowest level of complexity for the maximum amount of value are the ones experiencing spectacular growth + high valuations. "The Gartner study reported B2B buyers are paying, on average, 30 percent more for the product or service that offers the better customer experience."
In another study of 75,000 buyers (who interacted with B2C + B2B brands over multiple channels), "94 percent of those who reported a low effort to buy a product said they planned to repurchase the product; 81 percent of those who reported a great deal of effort to buy a product planned to spread negative word of mouth about their experience."
The "Clairvoyant Marketer" collects customer data across every touchpoint, supported by real-time analytics to understand + anticipate the experiences that will delight customers. While this level of intelligent marketing may feel futuristic, the components are here - now. This capability represents a tectonic shift in how marketers engage customers, + it will soon be considered necessary for competitive parity.
What considerations + strategic insights should inform how you prioritize methods tied to the convergence of B2B + B2C?
Let's start with 8.
1) Take a "human approach" + start with your customers by understanding what you have and how to optimize your business/marketing accordingly.
2) Develop a "single view" of your customers + leverage Data Driven Journey mapping initiatives to fill in any gaps.
3) Invest in Innovation efforts connected directly to what customers are "most likely to buy" (i.e. Latent Demand) + cultivate an ecosystem by "opening up" via strategic partnerships.
4) Reduce "analog" costs, increase efficiencies + enable sales to focus on high-value efforts.
5) Incorporate Millennials + the differences in the way they make buying decisions into relevant aspects of your go to market strategy.
6) Integrate customer retention + growth under one umbrella.
7) Compete with "speed" + integrated personalization across digital/physical environments embracing AI/Cognitive Computing Systems along the way.
8) Establish a real-time feedback loop to do more of what's working + less of what isn't.
Bottomline - be more "human" + deliver more ROI.
E: Alec.firstname.lastname@example.org; T/IG: @Alec_Coughlin