B2B marketing is in the ascendance, but needs its own plan to achieve success
"B2C tactics don't work in the B2B world," Paul Gibson, EMEA VP for Demandbase told business and technology marketing leaders at the organisation's recent London event. The advertising targeting services provider is understandably upbeat about account based marketing (ABM), but with close to 15 years experience, Demandbase has some interesting insights into ABM and in particular B2B marketing.
"An account based approach allows you to have a one-to-one approach and the technology available today allows CMOs to scale and personalise the approach and to take control of the buyer journey," Gibson said, adding that technology marketing leaders should be using the latest range of technology to look for buyer intent signals. "It's really important to understand the buyer journey because there has been a lot of change in the digital advertising market and that means a lot of the B2C approaches will not work in B2B."
Gareth Noonan, the advertising VP at Demandbase agrees: "Third party data segments used for B2C used in B2B are very hit and miss.
"We are in a golden era of B2B marketing, we have more control and more impact. Our contribution to the business is no longer a topic of debate because we have data led conversations," Noonan added. The VP says marketing has been on a journey towards real business value from the 1990s when CMOs were purely buying audience volumes with advertising and then the beginnings of behavioural based marketing in the early part of this century.
ABM best practice
"If you are marketing to a firm that you cannot sell to it does not make any sense," says Gibson. Noonan adds: "Start with your total addressable market and then your target account list, but don't exhaust the campaign budget on the top four businesses in your target list as they will be big businesses and it can be hard to convert them. If you do this you can't spend on those further down the list and they may be more successful."