Despite the buzz and growing trends in B2B marketing, one thing stays the same: the importance of mastering the fundamentals. Amidst the whirlwind of technological advancements and the rise of artificial intelligence, the basics of successful B2B marketing remain the same — understand your customer, craft compelling value propositions, personalise interactions, and invest in high-quality content.
This blog post is the last part of a series highlighting the best learnings and insights from the E3 Network meeting organised by Valve. The E3 Network is composed of 30 independent B2B agencies worldwide, focused on helping brands effectively sell to business buyers. The network is comprised of more than 1700 marketing professionals from around the globe.
Stay true to your fundamentals
The core of effective B2B marketing still persists. Building killer products and services remains important, coupled with creating messages that really impact your audience. To achieve this, it is crucial to understand the motivations, needs, and wants of your ideal customer and comprehend their buying behaviour.
In a challenging economic situation, marketing's collaboration with R&D, sales, and customer service teams is more crucial than ever. Although AI accelerates innovation and content creation, the development cycles for industrial products and solutions might still span several years. At Valve, we've found that early collaboration across departments yields the most successful outcomes. Incorporating valuable insights from product, sales, and customer service teams results in the creation of strong B2B brands.
Craft an aligned commercial strategy
Companies are challenged to build stronger commercial strategies that seamlessly align marketing, sales, product development, and customer service. Marketing should act as the key player, sharing customer knowledge throughout the organisation to enhance products, services, and ultimately, customer experience. A valuable tool in this pursuit is the B2B elements of value framework, as published in Harvard Business Review.
A successful B2B commercial strategy is a comprehensive plan designed to drive revenue and achieve business objectives through effective interactions with current and potential customers. This strategy entails market understanding, clear product/service positioning, targeted customer segmentation, alignment between sales and marketing, articulate value propositions, strategic pricing, thoughtful distribution, and a commitment to adaptability and innovation. Integration of these elements aims to differentiate the business, address specific customer needs, and foster long-term relationships, ensuring competitiveness and sustained profitability in a dynamic market environment.
Regular collaboration and communication among different departments are crucial for aligning efforts and integrating insights into product development, marketing campaigns, and sales processes. Simultaneously, a close-knit relationship between marketing and sales is paramount. Clear goals and key performance indicators (KPIs) empower both teams to make informed decisions, especially in the complex B2B sales and customer journeys. Shifting the focus from short-term metrics like Marketing Qualified Leads (MQLs) to high-intent conversions that directly impact revenue is advisable. Additionally, identifying areas contributing to high-intent conversions and revenue-driving Requests for Proposals (RFPs) is vital for a cohesive and effective commercial strategy.
Brand challenges amidst lead generation demands
In challenging economic times, companies are increasingly pressuring marketing for more leads. However, the real challenge often lies in brand awareness and positioning – standing out and creating unique value. Furthermore, finding ways to effectively convey a messaging that educates, engages, and prompts action is essential.
Moreover, prioritising brand marketing over a sole focus on lead generation is crucial for establishing long-term success. Building a strong brand not only attracts high-quality leads but also fosters customer loyalty, creating a sustainable foundation for growth even in uncertain economic times. Emphasising the enduring value of brand can lead to more impactful marketing strategies and business results.
The role of personalised B2B experiences
When marketing channels are saturated with vague messaging and broad targeting, successful B2B companies are those adept at personalising their approach. Tailoring content and communications to the specific needs and pain points of their target audience and key accounts allows for deeper connections.
In today’s age, especially industrial B2B companies can enhance personalisation and account-based marketing with the help of AI and industrial metaverses, giving customers a chance to test and compare the product in a visually appealing way and at the same time asking relevant questions from the virtual sales assistant.
Take a closer look at Dream Terminal, an industrial metaverse designed specifically for Konecranes. Step into this virtual environment and experience the cutting-edge technology that allows customers to visually test and compare products.
As we navigate through the hype in B2B marketing, utilising both timeless fundamentals and cutting-edge technologies will be the key to not just surviving but thriving in the future of B2B commerce.
If you would like to learn more about how Valve and the E3 network can support your international marketing initiatives, please reach out to Pauliina Kuokka (Director, Customer Success), who is responsible for Valve’s E3 network relations.
