The Buyer is the Boss

word-of-mouth-thumb

Much has been said about The Buyer and how the process of engaging with them has changed.

There’s no shortage of excellent discussion and thought leadership on the issue, especially in the B2C space. However, in the B2B space you need to hunt a little further. I find MarketingMag do a great job as do McKinsey & Co.

 

This past week I read a feature article from MarketingMag titled “The Era of the Buyer”. The closing paragraph is as follows:

“With buyers now in control, marketers need to be more agile – ready to respond with what the buyer wants when they want it. “It used to be that business- to-business businesses are sort of like the aircraft carriers of the marketing world,” Redhill concludes. “It takes a long time to check and adjust, to get the market feedback, feed it into the sales model and adjust and change it.” In the era of the buyer, however, B2B marketing is quickly becoming a more agile craft.”*

There are a few key points from this Australian publication that may help the B2B Marketer and Sales teams:

  1. Research shows that budget relief is on the way*. This doesn’t mean it’s a ‘free for all’ on the spending front, but companies are starting to loosen the purse strings. A digital campaign can cost significantly less than traditional media, however expectations are still high around the outcome of campaigns. Make sure you have measurement strategies in place.
  2. Salary Budgets are on the way up*. But where are they being spent? If you have “Social” in your job title or at least in your title as it appears in LinkedIn, you’re looking pretty good. The Social Media Community Manager is a new player, but should be someone who understands your business and can respond to prospect and customer queries.
  3. Mobility is at # 5 of the priority list*. I found this interesting. Coming at this from a CRM & Digital Marketing angle, I was puzzled. Our customers are demanding everything be mobile – at least for their users. It seems prospects and customers are a little further down the priority list.
  4. Everyone wants Automation*. Well, taking broken manual processes and automating them will simply delivery broken automated processes meaning that you will fail faster and probably with greater impact. Before you look at automation, make sure you have all the right processes in place to support automation.

“More B2B organisations are now creating and publishing social media content than aren’t, with incidence set to jump from 34% last year to 52% this year. “They’re either dipping their toe, ankle, knee or the rest of their body in social media,” Haussegger explains, “and the total inbound advocates are fully up to their necks.” Smaller, nimbler organisations are leading the way. “Some of the larger organisations are often more challenged around the rules dictating how they can actually apply their content in social media,” he adds. Only 17% are yet to have any involvement in social media.”*

*SOURCE: MarketingMag

About Derek

Derek has worked in the Sales & Marketing Consulting and CRM industries for over 17 years. He's consulted to companies here and overseas helping them develop processes to support their lead generation, marketing and sales businesses. He sees CRM as an enabler and not a solution by and of itself. Implemented with users in mind and a clear view of defined processes, companies can derive great value from their CRM.

View all posts by Derek

Leave a Reply