The B2B Agenda

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Find out what 72 forward-looking CMOs and 30 academic B2B thought-leaders have to say about your ever-changing industry landscape. From commoditization and globalization to new rivals and buying behaviors, this presentation from Ralph Oliva, Executive Director of Penn State's Institute for the Study of Business Markets (ISBM) explores your greatest challenges and opportunities up ahead.

This presentation was delivered to the attendees of Godfrey's FWD:B2B conference on November 7th, 2013.

Published in: Marketing, Education, Business
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The B2B Agenda

  1. 1. “The B2B Agenda ” Ralph Oliva November 7, 2013
  2. 2. ISBM Research Update 11/2013 The B2B Agenda: Working to Build Forward-Looking for B2B Marketers Insight A Work-in-Process Update: Godfrey FWD:B2B Conference… 11-4-13 © 2013, ISBM-Penn State 2
  3. 3. ISBM Overview Since 1983... …A global network of leading edge researchers and practitioners. All B2B. Headquarters at Penn State OUR MISSION: • Expand research and teaching in Business-to-Business marketing and sales in academia… • Improve the practice of Business-to-Business marketing and sales for member firms in industry… 9-12-13 Moving into 30 Years: Research, Practice, Progress… © 2013, ISBM-Penn State 3
  4. 4. B2B Leadership Board 200 B2B Researchers in Universities Worldwide 72 B2B Member Firms, 4500 Marketers • Research Insight/Direct Coaching • B2B Analytic Tools • Courses/Professional Development • Networking/Interchange • Connection with MBA Students • More… Aspirational Model
  5. 5. Handbook of Businessto-Business Marketing Fred Wiersema, Chair, ISBM B2B Leadership Board Reference Resource for B2B Researchers The B2B Agenda: • The Key Challenges We Face • The Capabilities We Must Build Gary Lilien, Research Director, ISBM … ISBM Research Direction Raj Grewal, Associate Research Director, Both Available on Amazon 5
  6. 6. Setting the Agenda: Focused, Major Research Initiatives The B2B Agenda: A major initiative of the ISBM B2B Leadership Board • Multi-round inquiry with 30 leading B2B researchers • Insights from 12 top marketing execs, ISBM CMO roundtable • Interviews with 63 senior B2B executives from 52 firms. • Using content analysis to extract key findings Our goal: probe for fresh angles, dig deeper © 2013, ISBM-Penn State 6
  7. 7. T he Key Trends and Challenges (Re)Shaping B2B -- 2012-2014 Four Key Trends: Seven Major Challenges: 1. Rising expectations of marketing 1. Marketing’s interfaces 2. Companies’ journeys to build market focus 2. Granular customer knowledge 3. Evolving technology 3. Marketing’s evolving role and impact 4. Marketing’s performance 4. Global markets’ growth and demands 6. Deeper engagement 5. Central/DeCentral? 7. Talent TM © 2013, ISBM - Penn State 7
  8. 8. Four Key Trends T hat Are (Re)Shaping Business Mar keting 1. Higher stakes and higher expectations for B2B marketing • Mounting challenges and opportunities in 49% of companies 1. B2B firms are going through major transformations to get better aligned with marketplace realities • 52% of firms embarked on a major journey, or are about to 1. B2B marketing’s role is evolving; getting more and more strategic • · 54% of execs talk about (re)defining its role and responsibilities Global markets represent big potential -- and new demands 1. New / emerging growth markets are key concern in 35% of firms TM © 2013, ISBM - Penn State 8
  9. 9. T he Top-Two Challenges for Business Mar keter s -- 2012-2014 1. Build stronger interfaces between marketing and other functions • The single-most important lever for B2B marketing to impact business performance (esp. CMOs* view it as the top issue) • Particularly the marketing / sales interface (noted in 49% of firms) • … and the marketing / innovation interface (noted in 39% of firms) 1. Extract and leverage granular customer and market knowledge • • TM Essential for fueling commercial excellence and customer growth Key messages: get deeper; explore new territory; and ensure insights are acted on in the most productive manner (*) 85% of CMOs addressed it and 45% of all their comments related to marketing’s interfaces 9 © 2013, ISBM - Penn State
  10. 10. Five Other Major Challenges for Business Mar keter s -- 2012-2014 3. Be alert to technology’s potential to disrupt marketing/sales. • Social media, marketing/sales automation, the cloud and big data are altering buying behaviors and upsetting business models. 3. Demonstrate marketing’s contributions to business performance. • Recurring theme, calls for a stronger marketing-finance interface. 3. Find the right mix of centralized vs decentralized activities in marketing, esp. in multi-SBU and global settings. 4. Engage more deeply with customers and customers’ customers. 5. Find and develop marketing talent and competencies. • the B2B marketing talent pool is limited; the challenges aren’t. TM © 2013, ISBM - Penn State 10
  11. 11. Three Points of Research Focus - 7/2013 1. The Innovation - Marketing Interface… 2. Organizational Buying Behavior: Managing the Supplier/Customer Experience-B2B 3. B2B Data Analytics Research and Learning Community/Research Center © 2013, ISBM-Penn State 11
  12. 12. Three Key Themes: 1. Culture, Customers and Capabilities 2. Ideation: Tapping Customers and Non-Experts 3. The Interface Between Marketing and Sales 11/21/13
  13. 13. ‘Taking B2B Innovation Beyond the Lab’ Theme 1: Culture, Customers, Capabilities Culture trumps everything (G.J. Tellis, USC) Innovation is the critical driver for growth. Market leaders often fail at their peak (the ‘incumbents’ curse’) but some go from strength to strength: what’s different is culture. Identified traits/practices creating cultural conditions for success; diagnostic tools. Beware of tyranny of powerful customers (R. Chandy, LBS) “Current customers, especially the big ones, have the greatest stakes in the status quo.” “Most big shifts happen in the periphery, first as weak signals, often dismissed initially.” B2B customer solutions have big potential (Bharadwaj, etc) What capabilities are required (eg., organizationally, culturally, marketing/sales-wise). How do we measure performance of solutions, and the impact of both internal and external factors? © 2013, ISBM-Penn State 13 13
  14. 14. Dr. Gerry Tellis, USC ISBM Fellow
  15. 15. Marketing as an Engine for Growth Beth Comstock August 23, 2005
  16. 16. Reward success and failure. Punish inaction. Beth Comstock, CMO, GE
  17. 17. Abbie Griffin: Author: "Serial Innovators" Dr. Abbie Griffin, University of Utah, ISBM Fellow Creator “Voice of the Customer” © 2013, ISBM-Penn State 26
  18. 18. Three Points of Research Focus - 9/2013 1. The Innovation - Marketing Interface… Rollout of Innovation/Culture Diagnostic, Foster Focused Research in Selected Areas, On going "Curation" of outcomes/insights /actions/frames for thinking 2. Organizational Buying Behavior: Managing the Supplier/Customer Experience-B2B 3. B2B Data Analytics Research and Learning Community/Research Center © 2013, ISBM-Penn State 28
  19. 19. ISBM Winter Meeting – February 19-20, 2014: Renaissance Airport Hotel, Orlando, Florida Please Accept Our Invitation! Answering a Key Challenge for Today's B2B Marketer: >>Navigation of Rapidly Changing Organizational Buying Behavior: Driving Growth Through B2B Customer Experience Management Thought leaders, researchers, and practitioners provide insight on how to better manage the total B2B customer experience, and today's rapidly changing organizational buying behaviors, processes, and influences… Featuring Lou Carbone, Experience Engineering Erik Long, ZS Reza Soudacar Gregg Lederman, Author, "Engaged!" Soliciting Your Inputs/Speaker Suggestions! 29 29
  20. 20. Three Points of Research Focus - 9/2013 1. The Innovation - Marketing Interface… Rollout of Innovation/Culture Diagnostic, Foster Focused Research in Selected Areas, On going "Curation" of outcomes/insights /actions/frames for thinking 2. Organizational Buying Behavior: Managing the Supplier/Customer Experience-B2B 3. B2B Data Analytics Research and Learning Community/Research Center © 2013, ISBM-Penn State 30
  21. 21. Where we are now: B2B Data Analytics Thrust… Investigation to gain further definition of the type/areas of analytics in B2B marketing that are most promising/pressing. Early discussion with SAP and other early partners shaping the agenda. Investigation of potential alliance partners: INFORMS, MIT, Emory, Cisco, IBM, others Strategy in development for first actions 2Q 2014… Center for B2B Data Analytics © 2013, ISBM-Penn State 31
  22. 22. Three Points of Research Focus - 11/2013 1. The Innovation - Marketing Interface… 2. Organizational Buying Behavior: Managing the Supplier/Customer Experience - B2B 3. B2B Data Analytics Research and Learning Community/Research Center © 2013, ISBM-Penn State 32
  23. 23. Thoughts/Questions… Can you see the direct line between your practice and the organic growth processes in your firm? How about Marketing and Innovation? Are we developing approaches to better navigate today's rapidly changing Organizational Buying Behavior? Can we step up to the challenge of unlocking insight from different sorts of audience, investigations, processes and data than we typically collect in B2B markets? © 2013, ISBM-Penn State 33

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