Get Smart on B2B Marketing with our 7 Emerging Trends for 2017
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Looking for the fresh ideas driving B2B marketing forward in 2017 and beyond? We've got you covered. Join LinkedIn brand strategist, Peter Weinberg, as he shares the below seven trends to practice in 2017: 1. The True Value of Thought Leadership 2. The Sustainable Profitability of “Content Franchises” 3. The Growing Need for Touchpoint Consistency 4. The Promising Arrival of Everyone-As-A-Marketer 5. The Sudden Death of Hyper-targeting 6. The New Principles of Brand Investing 7. The Economic Case for Cost-Per-Connection We'll also reveal how you can act on each of these seven trends in your work today.
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Get Smart on B2B Marketing with our 7 Emerging Trends for 2017
- 1. 2 0 1 7 B 2 B M A R K E T I N G T R E N D S
- 2. Peter Weinberg Strategist, Agency and Channel Development LinkedIn P R E S E N T E D B Y
- 3. Let’s talk about 7 emerging trends in B2B marketing
- 4. These Trends Can Be Applied To Your Marketing Today Each trend fits neatly into this traditional marketing framework 01 02 03 04 Creative Content Franchises Touchpoint Consistency Distribution Everyone-As-A-Marketer Hypertargeting Brand Investing Audience Thought Leadership Measurement Cost-Per-Connection
- 5. The True Value of Thought Leadership 1
- 6. B2B Buyers Are Scared B2B is not “rational”, it’s even more emotional than B2C Jon Miller CEO & Co-Founder at Engagio, previously Co-Founder at Marketo “It’s not a big deal if you buy the wrong can of soda.” Don Draper Creative Director at Sterling Cooper, fictional character on Mad Men “Nobody ever got fired for buying IBM.”
- 7. …believe it increased trust in the organization 83% Business Decision Makers 81% C-Suite Executives …believe it builds trust in our organization among potential clients 49% Thought Leadership “De-Risks” The Buying Process It establishes trust, which leads directly to sales Among Creators of Thought Leadership… Among Decision Makers…
- 8. Thought Leadership “De-Risks” The Buying Process It establishes trust, which leads directly to sales …believe it gets them more RFPs 17% …believe it invites the organization to propose on a project 63% Business Decision Makers 64% C-Suite Executives Among Creators of Thought Leadership… Among Decision Makers…
- 9. Structure Your Thought Leadership To Drive ROI “The Sophisticated Guide” has been our #1 driver of sales 3 years in a row MQLNO YES REVENUESALESNURTURE NO THOUGHT LEADERSHIP
- 10. The Sustainable Profitability Of Content Franchises 2
- 11. The Current Approach To Thought Leadership Is Broken The “Newspaper Model” is difficult to scale and even harder to monetize Nearly 1 In 2 BDMs Are Disappointed With The Quality Percentage of the time I gain valuable insight from thought leadership 44% Percentage of survey respondents who are disappointed by this 51%
- 12. The Current Approach To Thought Leadership Is Broken The “Newspaper Model” is difficult to scale and even harder to monetize
- 13. The Current Approach To Thought Leadership Is Broken The “Newspaper Model” is difficult to scale and even harder to monetize
- 14. Instead, Imitate Disney’s Blockbuster Strategy The first studio to make $6B, all thanks to “familiarity” and “extensibility” S U M M E R 2 0 1 5 FA L L 2 0 1 5 W I N T E R 2 0 1 5 S P R I N G 2 0 1 6 S U M M E R 2 0 1 6 FA L L 2 0 1 6 W I N T E R 2 0 1 6 S P R I N G 2 0 1 7 S U M M E R 2 0 1 7
- 15. Instead, Imitate Disney’s Blockbuster Strategy The first studio to make $6B, all thanks to “familiarity” and “extensibility”
- 16. A B2B Blockbuster Monetizes A Brand’s Expertise A sustainable approach that monetizes multiple channels with the same IP
- 17. The Growing Need for Touchpoint Consistency 3
- 18. Nobody Remembers Much Anymore, Especially Ads The average consumer sees 5,000 ads a day
- 19. Pattern Recognition Is How Brands Drive Recall We see B2C and B2B brands accomplish this every day
- 20. Blockbusters Enable Touchpoint Consistency Helping build a memorable brand across an explosion of channels
- 21. The Promising Arrival of Everyone-As-A-Marketer 4
- 22. Employees Are Your Most Valuable Touchpoint The most trusted spokespeople to sell culture, product, and news 63% Trust people like themselves 45% Trust Institutions
- 23. Employees Offer Better Reach And Engagement Employees have 10X the reach of a LinkedIn Company Page 100 Employee Shares 96 Profile Views 48 Company Page Views 48 Job Views 16 Company Page Followers 32 New Connections
- 24. So It Is Imperative To Develop A People-First Strategy Feature your brand characters in your content, distribute through employees
- 25. The Sudden Death of Hypertargeting 5
- 26. Brands Are Overly Obsessed With Ad Targeting Digital sells itself on the false promise of ‘zero waste’
- 27. The Problem Is That Targeting Excludes Potential Buyers Sophisticated marketers are waking up to this expensive truth
- 28. The Solution For B2B Is “Relevant Reach” Reach the entire buying committee, today and tomorrow TARGETED BUYER Junior Decision Makers Extended Buying Committee
- 29. The New Principles of Brand Investing 6
- 30. #1: Obey The “60/40 Rule” Brands need to balance long and short-term objectives “Investment in long-term brand and trust building, combined with short term brand activations to reap the sales benefits of those investments” 60/40 RULE
- 31. #2: Plan For A “10:1 Ratio” In a pay-to-play world, distribution is king
- 32. #3: Budget For The “80/20 Rule” 80% of value comes from 20% of your content; invest accordingly
- 33. The Economic Case for Cost-Per-Connection 7
- 34. Everyone Is “Counting” The Wrong Metrics Current industry metrics (CTR, CPC) do not correlate with revenue Not everything that counts can be counted, and not everything that can be counted counts. Albert Einstein
- 35. Cutting-Edge Measurement Reflects The Offline World “Connection Density” does correlate with revenue 8.2% 5.1% 4.8% 3.9% 3.5% Most-Connected Metro Regions 2 3 4 Least-Connected Metro Regions More Connections, More Job Growth (Average Job Growth, 2010-2014) *Based on index of connectedness. 2014 employment based on first nine months of year. Data: LinkedIn, Bureau of Labor Statistics, South Mountain Economics LLC
- 36. Marketing Helps Sales To Nurture Connections “Cost Per Connection” is a leading indicator of ROI 16% 40% Non-Nurtured Prospects Prospects Exposed To Content Response Rate to InMails Sent By Sales Teams +150% 14XHigher Than Average E-mail Response Rate*
- 37. Great. So how can my client take advantage of these trends today?
- 38. 1 Invest in thought-leadership to drive sales 2 Package your thought-leadership into “blockbusters” 3 Use your blockbuster to achieve touchpoint consistency 4 Amplify your blockbuster via employees
- 39. 5 Reach the entire buying committee with your blockbuster 6 Distribute according to the 60/40, 10:1, and 80/20 rules 7 Start measuring “Cost-Per-Connections”
Editor's Notes
- Some derived from our data, some from top clients
- Impacting all stages of campaigns --- how you understand audience, package creative, distribute creative, and measure its effectiveness Not gonna try to sell you anything, but all these trends can be bought
- - Increasing understanding of why it’s valuable, and how it drives business results
- - That is role of thought leadership, it removes risk from the process. Buyers want to buy from someone who can solve their problems, give them an end-to-end vision, give them confidence that they are buying from the smartest/most trust-worthy vendor in the space I’m scared of clowns because I don’t trust clowns
- - That is role of thought leadership, it removes risk from the process. Buyers want to buy from someone who can solve their problems, give them an end-to-end vision, give them confidence that they are buying from the smartest/most trust-worthy vendor in the space I’m scared of clowns because I don’t trust clowns
- - Although some people have always appreciated the value of TL, there’s a growing understanding that if you structure TL properly, you can actually prove its business results quantitatively, and drive sales with TL assets. - You do this by driving traffic to a central TL asset, like an eBook, and then through gating or retargeting, you get buyers exposed to the TL to buy your products and services
- Although you need thought leadership, the way brands have gone about producing it is not sustainable or profitable. Brands have been told for years they need to act like journalists, set up brand newsrooms staffed by brand journalists, producing real-time emphemeral content (articles). The issue is that that business model doesn’t even work for the New York Times, so why would it work for IBM? Journalist is difficult to scale, very expensive. Luckily there are many different ways to monetize content, one is the newspaper way, the other is the hollywood way
- Although you need thought leadership, the way brands have gone about producing it is not sustainable or profitable. Brands have been told for years they need to act like journalists, set up brand newsrooms staffed by brand journalists, producing real-time emphemeral content (articles). The issue is that that business model doesn’t even work for the New York Times, so why would it work for IBM? Journalist is difficult to scale, very expensive. Luckily there are many different ways to monetize content, one is the newspaper way, the other is the hollywood way
- Although you need thought leadership, the way brands have gone about producing it is not sustainable or profitable. Brands have been told for years they need to act like journalists, set up brand newsrooms staffed by brand journalists, producing real-time emphemeral content (articles). The issue is that that business model doesn’t even work for the New York Times, so why would it work for IBM? Journalist is difficult to scale, very expensive. Luckily there are many different ways to monetize content, one is the newspaper way, the other is the hollywood way
- Disney is not focussing on risky, net new assets. They are doubling down on franchises that everyone has heard of, things like Star Wars, Marvel, things people are familiar with. They’ve driven $6B in revenue off just four movies, none of which were wholly original. This is what hollywood can do that newspapers can’t. newspapers don’t have a back catalogue that can be re-inotrudced year after year. News has to be new by definition (or else it would be called olds)
- Disney is not focussing on risky, net new assets. They are doubling down on franchises that everyone has heard of, things like Star Wars, Marvel, things people are familiar with. They’ve driven $6B in revenue off just four movies, none of which were wholly original. This is what hollywood can do that newspapers can’t. newspapers don’t have a back catalogue that can be re-inotrudced year after year. News has to be new by definition (or else it would be called olds)
- There are blockbusters in B2B, but they don’t sell entertainment, they sell topical expertise. Franchises with a ton of built in brand equity, that are familiar to their target audiences. If you are lucky enough to have a piece of IP that has brand equity, you extract every ounce of value from it by monetizing it in as many channels as possible. So the star wars IP isn’t just a movie it’s also a video game, lunch box, action figure. Similarly, your B2B IP, is something you do year after year, for every line of business. And it’s not just an eBook, it’s a webinar, it’s an infographic, it’s all of these things.
- - No one remembers anything, we are inundated ads, hence these depressing stats about brand awareness http://neilpatel.com/blog/your-ads-are-getting-ignored-5-smart-strategies-to-overcome-banner-blindness/ http://www.cbsnews.com/news/cutting-through-advertising-clutter/
- - Only way to get remembered is to show someone the same thing over and over again – if I show you this can you know it is…coke - If I show you this chart you know it’s...eMarketer. Even on something as tactical as a chart, if you show someone the same look-and-feel often enough, it will be remembered. Next time you need a chart about the state of digital marketing, you will go to eMarketer, because it’s the first thing to come to mind.
- So have a consistent and distincitive look-and feel across all platforms, like EY Black and yellow, trapezoid thing, bunch of distinct markers that let you know this is EY and not Accenture etc.
- - The most trusted touchpoint, on any given topic buyers would rather hear from employees and peers than from executies or brand advertising. 63% of people trust people like themselves, only 45% trust institutions, http://www.edelman.com/insights/intellectual-property/2016-edelman-trust-barometer/global-results/
- - Employees are a powerful potential touchpoint because they can reach 10X the amount of people, and it’s just not just more reach, it’s better reach, since they drive more engagement --- valuable downstream activities like job applications, connections, etc
- - On the front end, have your people blog about the blockbuster, do webinars about the blockbuster, and distribute it to their networks on the back end
- In B2C there is a growing appreciation that targeting is a waste of money. It would be a mistake to just apply the same learnings to B2B, since B2B is inhertently more niche, but there is still something for us to learn here.
- The happy medium is relevant reach, reaching as many people as possible within the buying committee
- - here’s a longintudinal study of 10,000 brands over 30 years, shows that majority of effort needs to go towards branding (aka thought leadership), and then 40% goes towards commercial activation (aka “buy now).
- It’s not enough to have great content, need to get distribution. Star wars has biggest organic following of all time and yet Disney spent well over $500M on traditional ads and crazy digital integrations. - If disney needs to advertise star wars, you need to advertise your familiar content franchises with big budgets (let alone your unfamiliar content franchises!)
- - Well understand concenpt for VC funds, 80% of returns will come from 20% investments. Similarly only 20% of your content will be a hit, so prepare to put 80% of your budget against it.
- - Everyone understands, publishers and agencies, that CTR and CPC are not indicators of purchasing behavior, reams of research have confirmed this
- In B2C, increasing understanding that we need to bridge the online and offline world, hence, for instance, facebooks partnership with datalogix to track in store sales In b2b this is even more critical, because all of the sales happen offline, at dinner, over dirnks, on the golf course So what are some online metrics that actually correlate to offline B2B sales activity?
- Connectivity has been proven to correlate with revenue. In other words, did your marketing efforts increase the amount of connections between your sales force and your prospective buyers? - Chart shows that marketing facilitates these connections