New technologies and vendors are continuing to emerge with better, faster and more efficient tools. Learn how B2B marketers are leveraging investments in technology to save their companies time and money.
New technologies continue to emerge. Vendors are offering better, faster and more efficient tools, and marketing tactics are constantly evolving to keep pace.
But perhaps the most important factor in shaping the digital landscape of B2B marketing is the people. B2B marketers are now in the midst of the next industrial revolution, and they’re changing. It’s not happening in the near future; it’s happening right now!
Advancements in IoT, artificial intelligence, robotics, quantum computing and the like are allowing marketing and executive teams to capitalize on opportunities like never before.
As Godfrey grows programs with our clients and develops relationships with new prospects, we’re finding marketers in the manufacturing industry are getting smarter and more tech-savvy every day.
Compared to their counterparts of even just a few years ago, today’s B2B marketers have a better understanding of what technology can do for them, and they’re taking advantage of it. Additionally, younger digital natives are entering key leadership positions, and they seem to intuitively know how technology can reshape marketing.
ROI and Accountability
Because technology is changing so rapidly, marketers realize that they need to keep up simply because their company risks falling behind the competition. We’re seeing a combination of marketing teams working to break down barriers as executive teams raise their expectations for return on investment (ROI).
Marketers understand that they need to track leads and sales across the entire marketing funnel. They know they need to demonstrate a level of accountability that their CEOs are now expecting or even demanding.
For many companies, this expectation of accountability has moved from “nice to have” to “table stakes” and sometimes even “deal breakers.” The reason for this is as old as B2B itself. If B2B marketers don’t embrace these new realities, they may find themselves suddenly at a competitive disadvantage.
Investments in Technology
In the past, the size of the investments required to transform legacy systems has deterred companies who sought to inject ROI accountability into marketing. There is no doubt that those hurdles are significant. Getting cooperation, buy-in and adoption for new systems from different business divisions, such as IT, sales, customer support and finance, can be extremely challenging and time-consuming. For some companies, that’s too many fingers in the pie, so nothing ever changes.
But costs are coming down, programs are becoming more sophisticated and companies are beginning to see the value in enhancing the tools they use to measure marketing effectiveness.
The Threat of Competition Looms
The reason for this changing emphasis comes back to the threat of competition: Companies who up their game could take their markets by storm.
Doubling Marketing Success
John Wanamaker famously quipped, “Half of the money I spend on advertising is wasted; the trouble is, I don’t know which half.
What if you could beat his famous axiom and know which half of your marketing was effective? You could instantly double marketing effectiveness by eliminating the non-performing half, and double down on the half that’s working.
Those who can prove the results of marketing efforts will get a larger marketing budget, time and time again.
Improving the Effectiveness of Creative
Imagine what would happen if you knew the track record of value propositions that resonated with your audience. What benefits or headlines worked the best? What kinds of visuals drew the most response?
So much wasted time and cost could be eliminated. And what are now often purely aesthetic decisions can be resolved with hard data.
We’ve been doing this for clients for years, but as they improve their technology stack, we can get more granular on what creative is driving sales, not just impressions, clicks and conversions.
In a typical paid search program, we initially write three ads for each keyword, testing different value propositions, landing pages, brand names in/excluded from the headline and different calls to action. In many cases, we’re able to quickly filter out the non-performing components, which quickly increases or doubles click-through rates.
But many times, that just results in better clicks and more cost-effective campaigns. It’s great, but does that really improve sales?
Many marketers today now want to know which creative variations or touchpoints are truly driving sales. By getting the right technology and internal adoption in place, some companies are able to get that granular to truly know which half is working and which half isn’t.
To read the entire post, visit https://www.godfrey.com/insights/digital-and-web/b2b-digital-landscape-is-evolving.
One of the largest B2B marketing agencies in the United States and a member of Worldwide Partners Inc., Godfrey is committed to helping industrial manufacturers market themselves better. With customer insight, strategic consulting, brand management, advertising, public relations, digital strategy and full program execution, Godfrey extends the client’s own operation and deliver B2B marketing perfected for a complex industry. Get to know Godfrey at www.godfrey.com.