Say hello to the first edition of the B2B Marketing Brief! Your front-row seat to the ever-evolving world of B2B marketing. In this newsletter, we’re keeping it real—sharing wins, tackling pain points, and uncovering growth opportunities. Each edition is packed with stories, tips, and the latest trends to help you master the art of B2B engagement. Grab your coffee, and let’s get marketing!

In this issue:

• Mythical Beasts of B2B Marketing and How to Tame Them

• One-Size-Fits-None — Data-Driven Personalization in B2B Marketing 

• The Secret Mantra to Revenue Generation: Don’t Miss the Silver While Chasing Gold

Mythical Beasts of B2B Marketing and How to Tame Them

Have you ever wondered why so many B2B marketing strategies fail to deliver, despite all the buzz? Take concepts like ABM, intent data, and lead scoring, for example. These so-called “fundamental concepts” are often accepted as gospel, but do they really work? Let’s challenge four “irrefutable truths” in B2B marketing—and see if we can debunk them.

The Myth of Behavioral Lead Scoring

The Myth: The more content a prospect consumes, the higher their score, indicating a higher likelihood of purchase. By extension, each content interaction moves a buyer closer to a purchase.

The Reality: I call balderdash! B2B buying is anything but linear. Buyers zigzag through their journey, influenced by a hundred different factors, and often double back over our neat little buying stages. Gartner tried to trace the path of a B2B purchase and let’s just say that the result is not pretty.

A Better Strategy: Ditch the obsession with lead scores. Instead, focus on building trust and relevance by providing valuable content that consistently addresses customer questions and pain points. And then make sure our content is accessible on a prospect’s terms.

The Myth of Lead Generation and the B2B Funnel

The Myth: The funnel is an engine that spits out leads like a vending machine gone haywire. Toss in marketing dollars at the top, and out pop ready-to-buy prospects at the bottom. We believe it a funnel-shaped black box that converts prospects into customers.

The Reality: The funnel fails to account for the complex, often non-linear paths, that B2B buyers take rendering it less-than-effective for modern marketing. 

A Better Strategy: Let’s move away from the funnel mindset and coin-operated lead-producing practices. Instead, let’s focus on engaging with relevant audiences, nurturing genuine relationships over time, and being present when our prospects need support. This ensures that if and when they are ready to make a purchase decision, we’re not just a contender—we are the trusted partner they've come to rely on.

The Myth of Intent Data

The Myth: Intent data is a silver bullet that can pierce through the noise and pinpoint exactly who's ready to buy. It rests on the slightly shaky foundation (and "slightly" is an Olympic-level understatement) that content consumption is a proxy for buying intent. Wait, really?

The Reality: Intent data is nearly useless unless supported by other third-party signals—technographic, wallet data, budget insights—and blended with first-party data from CRM and marketing automation tools.

A Better Strategy: Let’s stop treating intent data like a magic wand. Instead, let’s use it as one piece of a larger puzzle. When we integrate intent data with a mix of internal and third-party insights, we form a more complete picture of our prospects' needs—and their readiness to buy.

The Myth of ABM

The Myth: ABM (Account-Based Marketing) Campaigns can be a short-term strategy that results in quick wins. Fire off a few personalized emails, set up a snazzy customized landing page, and watch customers lap it up.

The Reality: That’s a fairy tale. Real ABM is far from a short-term strategy; it’s a marathon, not a sprint. It requires sustained effort. More importantly, true success is achieved by taking an ABX (Account Based Experience) approach, which requires deep collaboration between sales and marketing, and a focus on building long-term relationships rather than chasing immediate returns. 

A Better Strategy: Let’s focus on creating a holistic experience for strategic accounts—one that’s seamless, cohesive, and consistent across all customer touchpoints. Getting this right demands an ABX approach, one in which our marketing and sales work in tandem. Success will come to those of us who change our mindsets and see ABX—not as a tactic—but as an overarching strategy that requires dedication and a long-term vision.

It's time we focus on what truly drives success: Integrating diverse data to discover the right audiences, engaging with them and building trust by providing relevant and valuable content, nurturing genuine relationships over time, and aligning marketing and sales to create holistic customer experiences.

By embracing these more thoughtful and sustainable—albeit longer-term—approaches, we can inject fresh air into our marketing efforts and boost their impact. And remember, those who chase unicorns, tend to find themselves on carousels. And you know what that’s like: It’s fun if you like to go in circles.

One-Size-Fits-None — Data-Driven Personalization in B2B Marketing

If you want campaigns to resonate deeply, spark attachments, and drive conversions, it’s time to get personal. The resulting connection — stories that readers will feel, remember, and respond to — is made possible with data-driven personalization.

Let’s get into it.

The Power of Data-Driven Personalization 

Personalization is not just another buzzword we’re throwing around for fun. It’s a data-driven, results-oriented, HOLY-MOLY-this-actually-works kind of game-changer. By leveraging the power of TAL analyses, ABX campaign segmentation, and good ol’ market research, we can create personalized experiences that speak directly to our target audiences.

It’s not just about sprinkling a few first names into email blasts. It’s about understanding who the customers are, what they want, and how they behave at every touchpoint. 

Why Personalization Matters More Than Ever 

When you personalize marketing, you’re not just saying, “Hey, we know who you are.” You’re saying, “Hey, we get you. We understand your business, challenges, and goals, and we’ve got the solution you’ve been looking for.” It’s what builds trust, fosters relationships, and ultimately drives sales.

And don’t just take our word for it. ON24's 2024 Digital Engagement Benchmarks Report found that B2B prospects are nearly twice as likely to engage with calls-to-action when digital experiences are personalized. The same report highlighted a 60% increase in requests for product demonstrations from personalized webinar experiences.

So, if you’re not personalizing, you’re leaving money on the table. (And who wants to do that?) 

The Tools in Our of Toolbox 

So, how do we make this magic happen? Let’s break it down:

1. TALs (Target Account Lists):

We start by zeroing in on the accounts that matter most to your business. We don’t just spray and pray—we focus on the buying committee and target each member with the right message. 

2. Market Research

This isn’t just any old research. We dive deep into your industry, competitors, buyer personas, and content library to uncover the insights that will drive your strategy. We want to know what makes your audience tick and, more importantly, what will make them click.

3. Data as an Enabler

Data, data, data. Analytics enable our teams to make better decisions for our clients every day, tactically and strategically. By continuously analyzing campaign performance, we optimize in real-time, ensuring your message stays relevant.

Scaling Personalization Without Losing the Human Touch 

With the right tech stack and a little creativity, you can scale personalization efforts without sacrificing quality. Automated workflows, AI-driven content recommendations, and dynamic email campaigns — we help deliver personalized experiences to key accounts no matter how big the audience gets.

Scaling doesn’t mean losing the human touch. It’s just the opposite. By using data and AI to automate the mundane, you free up time to focus on what matters: building genuine relationships with your customers. Because at the end of the day, people buy from people. And we’re all about making those connections.

The Not-So-Distant Future of Personalization 

Let’s take a peek into the not-so-distant future of B2B marketing personalization. Spoiler alert: it’s going to be mind-blowingly awesome.

1. Predictive Personalization with AI and Machine Learning 

We’ve already seen the power of AI in personalizing B2B marketing, but we’re just scratching the surface. Soon, AI and machine learning will take personalization to new heights with predictive capabilities that can forecast customer behavior and needs. Imagine predicting which content will resonate with a specific account before they even know they need it. 

2. Real-Time Personalization Across Channels 

The days of static content are numbered. The future is all about real-time personalization across every channel—email, website, social media, you name it. With advancements in technology, B2B marketers can deliver dynamic, context-aware content that adapts on the fly based on user behavior, preferences, and intent.

3. Personalization Powered by the Internet of Things (IoT) 

With IoT devices collecting data on everything from how a customer’s product performs to how often they interact with a particular feature, marketers will have unprecedented insights into customer needs and pain points. This data can create highly personalized experiences, from predictive maintenance offers to tailored upgrade suggestions.

4. Ethical Personalization with Privacy-First Approaches 

As personalization technology advances, so too will the need for ethical considerations. The future will see a strong emphasis on privacy-first personalization, where customers have more control over their data and how it’s used. Marketers must strike a balance between delivering personalized experiences and respecting customer privacy. 

Smart Personalization Sparks Connections

Digital marketing today has a responsibility to authentically connect with readers, visitors, and prospects. Individuals don’t want to feel that they’re hearing the same generic pitch when what they need is a solution. They want to feel seen — their unique challenges, stresses, and aspirations.

Thanks to the evolution of data-driven personalization, it’s become easier to meet these expectations. It does more than just improve conversions; it connects people with unique problems to companies with the unique capabilities to address them. And that leaves everyone more fulfilled.

The Secret Mantra to Revenue Generation: Don’t Miss the Silver While Chasing Gold

Are you missing the silver because you are chasing gold? If the answer is yes, good, at least you are self-aware. If it’s no, think again.

But, what’s the possible silver in marketing that you possibly are missing? Well, it is CRM—customer retention marketing, not the traditional customer relationship management—that is often overshadowed by its glamorous sibling customer acquisition marketing.

Consider this. It costs five times more to acquire a new customer than it does to retain an existing one. Loyal customers are not only more likely to purchase again, they are also more likely to recommend you. This not only leads to higher sales conversion rates, but also drives new customer acquisition.

Yes, retention marketing might not seem as attractive as acquisition marketing, and it might seem harder to demonstrate its impact and ROI. But, when you start thinking about growth differently and look at more meaningful performance metrics, customer retention becomes far more attractive.

4 Principles to Mine Marketing Silver

Typically, marketing effort drops off once a deal is signed. Job done, over to the ops team. It only starts ramping up as renewal time nears. Now, this is a costly mistake that many of us are guilty of making. Investing in your customer relationships should be always-on and consistent, and not dependent on deal closures and renewals.

So, how can we orchestrate an always-on retention marketing program? Here are 4 key principles.

1. Know Understand Your Customers

The foundation of any successful customer retention strategy is a deep understanding of customers. What resonated at acquisition, won’t necessarily resonate at renewal. We need to gain deep insights into their behavior, preferences, and pain points. Segment them based on industry, purchase history, and engagement levels. Use data analytics to gain the required insights.

Use surveys, feedback forms, and social listening tools to gather qualitative data. Combine them with qualitative insights derived from interviews and case studies. And understand what drives customer satisfaction or dissatisfaction to create tailored, targeted, and personalized retention campaigns that resonate with them to meet their specific needs.

2. Reach Out Engage Through Multiple Channels

Customers interact with our brands across various channels. A successful retention strategy must engage customers wherever they are. We must leverage a multichannel approach to engage customers with relevant content and updates.

Consistency across channels is crucial. It ensures that messaging and branding are cohesive, providing a unified experience, whether a customer is browsing our website, reading an email, or engaging on social media.

3. Invest In Relationship Partnerships

People want to do business with people not brands. So, we must build direct relationships with customers and invest in them to develop sustainable partnerships. Think about the benefits you can offer that they wouldn’t get elsewhere and how you can go the extra mile to enhance value. Invest in exclusive customer networking events centered around key topics of interest that create a sense of community and belonging.

Consider how you can make their lives easier, help them achieve their goals, and overcome their challenges. Be proactive and take the opportunity to surprise and delight whenever you can. So, when contract renewals come around, they happen organically without any need for additional marketing efforts.

4. Deliver Exceptional Customer Satisfaction Experiences

Customer experience (CX) is the sum of all interactions a customer has with your brand—from initial contact to post-purchase support. A positive CX is critical for customer retention. So, ensure that every touchpoint is seamless, consistent, and relevant is critical.

Actively listen to what customers are saying and use this information to make meaningful improvements to products, services, and experiences. Proactively address customer concerns and provide exceptional service that goes above and beyond their expectations. Acknowledging customer feedback—whether positive or negative—shows that you value their opinions. It also demonstrates a commitment to continuous improvement, which can foster deeper customer loyalty.

The Fourth R of Marketing Reporting

Just as the proof of the pudding is in the eating, so is the proof of customer retention marketing in measuring its impact and ROI.

For this, we need to add the rarely reflected fourth R of marketing reporting—Retention—to the list of KPIs, which typically includes just reputation, relationship and revenue.

Net Revenue Retention (NRR) is a key indicator of that. It measures your ability to retain and expand business from existing customers by calculating total revenue minus revenue churn (contract expirations, cancellations, or downgrades) and is considered a qualifying metric to determine the health of a business.

Only when customers growing their business with you outvalues customers leaving you, can you genuinely achieve sustainable business growth. Hence, it’s important to measure business success deep into the customer relationship, not just at the point of deal closure.

Customer Lifetime Value (CLV) is another key metric to measure. It represents the total revenue a business can expect from a single customer throughout their relationship. Loyal customers tend to spend more over time, make repeat purchases, and are less sensitive to price changes. By retaining customers, businesses can increase their CLV, which directly contributes to both revenue and profitability.

As with any measurement framework, it’s important to look at both the qualitative and quantitative data. Increased usage of your products and services within existing customer accounts and successfully defending against competitor threats are equally important indicators of customer retention.

Customer retention marketing is not just about retaining customers, it's about building long-term relationships that drive sustainable growth. By understanding your customers, delivering exceptional, omnichannel experiences, investing in relationships, and continuously optimizing your efforts, you can create a robust retention strategy that fosters loyalty and enhances profitability.

Experiment with different retention tactics, track their impact, and learn from the results. A data-driven approach will allow you to refine your strategy over time and maximize its effectiveness. In a world where customer loyalty is increasingly harder to earn, focusing on retention is not just smart, it's essential.

So, if customer retention marketing isn’t a key focus of your marketing strategy, are you missing the silver?

Catch our next issue out on 25 October 2024!

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