Wednesday, October 30, 2024

What Do Top-Performing B2B Marketers Do Differently? Six Things That Might Surprise You

What Do Top-Performing B2B Marketers Do Differently? Six Things That Might Surprise You

Today, there's no shortage of opinion on how to do B2B marketing. From the latest podcasts and blog posts to social media and the LinkedIn echo chamber, you're spoiled for choice.

"Unleash the power of AI with these 9 must-use prompts."

"Stop wasting time advertising, the future is account-based."

"Get thousands of qualified leads every month with our no-fail playbook."

Of course, such claims tend to be made by companies and influencers who peddle solutions or courses or consultancy.

But as everyone who's actually worked in B2B knows, there is no magic wand and no playbook that guarantees real-world results for every business. The examples of success are often outliers, used because they're the exception, not the norm.

If it worked for everyone, everyone would be doing it.

Trouble is, there has been precious little hard data to go on, too. But now, new research into B2B marketing effectiveness—looking in-depth at what top-performing marketers are doing differently—reveals that it's often not what you expect that elevates marketing performance from so-so to so-good.

In reality, there are not too many surprises anymore but reviewing the data has reset views on what works, what doesn't, and why.

1. Marketers who really know their customers are in a minority

What many of us consider to be marketing 101, well, isn't. In reality, very few marketers take time to really understand their customers.

In fact, just 36% research the people who make up the buying committees for their products and services. And a pitiful 18% research buyers to create ideal customer profiles (ICP) or customer personas—despite the focus on the importance of the value of ICPs by just about everyone, from marketing gurus to VCs.

What that means is that most marketers' ideas of targeting will be partial at best, leading to wasted effort and budget. It also means that investing in getting to know your customers is likely to set you apart from the competition.

2. True differentiation makes you more successful across every category

We all know it's important to stand out, but many B2B marketers treat differentiation as a nice-to-have. Yet the data shows that it is a significant multiplier of effectiveness.

If we look at the tech sector, those that have a clear differentiated position—which, crucially, has been tested with customers and reviewed against competitors—outperform the norm by a

significant margin. They're twice as likely to be in the most effective group across lead generation, demand generation, and brand-building, too.

And in professional services, where differentiation is typically harder to achieve, the results are even more extreme.

I'd go as far as to say that if you focus on just one thing, it should be differentiation.

3. A marketing strategy informed by business strategy is a force multiplier for effectiveness

It's no surprise that having a marketing strategy that takes its lead from your core business strategy is important. But you may not realize that it's also another way to elevate your marketing performance across every area.

If we look at the professional services sector, those marketers who have a written marketing strategy that flows from the business strategy are 84% more likely to be top performers in lead generation, 73% more likely to be leaders in demand generation, and over one-fifth more likely to lead in brand-building. Not small numbers.

4. Popular tactics are often not the most effective tactics

It's no surprise that those who select higher-performing tactics will get better results than those who choose less-effective ones. The challenge is to work out which really are the high performers. But that's easier said than done when everyone with an aspiring personal brand is trying to convince you that the bright shiny new thing is the only thing you should be doing.

One of the standout results in the data is that what's popular and what's effective are often two quite different things. The data also shows that some tactics that might be pigeonholed as being for demand generation actually work better for lead generation—and vice versa.

For example, the most popular demand generation tactic across the entire database ranks 31st (out of 39) in terms of effectiveness. And the most effective tactic is just 13th on the list of the most popular. And although the specific tactics deployed change by sector, the pattern repeats again and again.

Those findings fly in the face of so much of the marketing advice we see online, which either adopts a one-size-fits-all perspective or a that's-dead-so-do-this-instead message. The reality is far more nuanced, and optimum tactical mixes depend on so many variables: sector, deal size, core objectives, and more.

5. Men and women make notably different tactical choices

We didn't expect there to be anything noteworthy in terms of comparing the approaches of women and men—we almost didn't ask about gender at all. However, they do seem to make quite different tactical choices.

Compare how male and female marketers in the technology sector approach demand generation, for example, and women seem more likely to take a longer-term view in their choices, with a preference for more top-of-the-funnel content like thought leadership, industry guides and whitepapers.

Women are significantly more likely than men to use account based marketing ( ABM) and influencer marketing in their tactical mix, whereas men are significantly more likely than women to include nurture programs, PPC, and programmatic advertising.

Perhaps less surprisingly, men are around one-fifth more likely than women to rank themselves as marketing "top performers."

6. Those focused on leads are less likely to be effective at lead gen than those focused on demand

You'd think that if you want to be effective at lead generation, being laser-focused on delivering leads would be a no-brainer.

You'll know your MQLs, SALs/SQLs and ICP (plus all the other acronyms) and go looking for them using all the tools in the modern B2B arsenal.

Except, the data doesn't back that notion up. It's actually those who have a primary objective of increasing demand who are more effective at lead generation.

Why is that? Well, if you're focused on leads, you'll tend to spend your time on demand capture activity targeting in-market buyers.

We can argue about whether in-market buyers account for 5% of the market or not (or even 1% in these cash-strapped times). Whatever the exact number, it's a very small proportion of potential buyers.

Of course, many within the other 95% will be largely immune to anything we might say. But, by focusing on accelerating demand, we're likely to have a greater effect over time: There are more potential opportunities, you can get into a conversation earlier, you'll face less competition, etc.

More than that, it's an effect that should compound as we continually lay the groundwork for future success.

And, finally, you're likely to use different tactics. In the data, there's a marked difference in the effectiveness of a wide range of tactics between those focused on leads and those focused on demand.

What really drives B2B marketing effectiveness?

Ultimately, there is no silver bullet. Success in B2B marketing will come down to a combination of things.

You need to...

  • Get the upstream factors right.
  • Have a written marketing strategy, and make sure it flows from the business strategy.
  • Work hard on differentiation—test it with customers and versus the competition.
  • Know what your customers really care about, not just what you hope they care about.
  • And, finally, select a core set of high-performing tactics that will deliver against your objectives.

-----------------------------------------------------------------------------


If you need help with your email, web site, video, or other presentation to promote your company, product, or service, please give me a call at 440-519-1500 or email me at john@x2media.us

Until next month. . . .remember. "you don't get a 2nd chance to make a 1st impression." Always make it a good one!!

Sunday, September 29, 2024

Human-Ready Marketing: The Power of Human-AI Synergy

Human-Ready Marketing': The Power of Human-AI Synergy

In today's rapidly evolving digital landscape, marketers face an unprecedented challenge: how to harness artificial intelligence (AI) effectively while maintaining the human touch that's crucial for building lasting business relationships.

As AI becomes ubiquitous in marketing tools and strategies, a new paradigm is emerging—one that doesn't pit humans against machines, but instead harnesses the power of both.

Welcome to the era of the "Human-Ready Marketing Organization."

The AI Integration Paradox in Marketing

As marketing departments rush to integrate AI into their operations, a paradox emerges: Although AI adoption is essential for staying competitive, it's no longer a differentiator in itself; every marketing team is using AI in some capacity, whether it's for data analysis, content creation, or campaign optimization.

The true competitive advantage now lies in how effectively a marketing organization can blend AI capabilities with uniquely human skills.

And that synergy is not just about coexistence. It's about creating a symbiotic relationship where AI and human marketers enhance each other's strengths.

In a world increasingly shaped by algorithms, the marketing teams that prioritize human connection while deploying AI capabilities will be the ones that truly excel.

The Rising Value of the Human Touch in Marketing

Interestingly, as we automate more marketing processes, the human element becomes rarer and, consequently, more valuable. That trend is particularly evident in marketing, where relationships and trust play a crucial role in decision-making.

Consider the enduring appeal of personalized, high-touch marketing approaches. Though AI can generate personalized content at scale, it's the human-crafted, emotionally resonant messages that often cut through the noise and truly connect with decision-makers.

That principle extends beyond content—to all aspects of marketing.

For instance, although AI can efficiently handle lead scoring and initial outreach, it's often the human follow-up that closes deals. Salesforce and HubSpot are among the companies that have recognized that fact, integrating AI tools for efficiency while maintaining a strong emphasis on human-led relationship-building.

Defining the Human-Ready Marketing Organization

A Human-Ready Marketing Organization is one that has mastered the art of integrating AI with human capabilities in a way that maximizes value creation across the entire marketing funnel.

It's about designing your marketing processes and roles to foster a strong connection between AI and human strengths while mitigating their respective weaknesses.

The key lies in ensuring that human marketers don't impede the efficiency and scalability of AI, while AI enhances rather than diminishes the human touch that builds trust and loyalty in relationships.

That balance is delicate and requires a strategic approach.

The Value and Innovation Principle in Marketing

To achieve that balance, we can apply what we'll call the "Value and Innovation Principle" to marketing.

This principle suggests focusing human efforts on marketing activities that drive core value, spark innovation, or require emotional intelligence—even if AI has the capacity to handle those tasks. All other activities can be delegated to AI.

This approach ensures that human creativity, critical thinking, and social abilities are applied where they can create the most significant impact in marketing campaigns, while AI handles tasks that benefit from its speed, accuracy, and scalability.

The Human-AI Partnership in Marketing Action

Let's explore how this principle plays out across various marketing functions.

1. Content Strategy and Creation

Although AI excels at analyzing vast amounts of data to identify content trends and even generate basic content, humans are crucial for developing overarching content strategies and creating emotionally resonant, thought-leadership pieces.

The most effective content marketing approaches combine AI-driven insights with human creativity and industry expertise.

For example, AI tools can analyze engagement data across various platforms to suggest topics and formats that are likely to perform well. Human content strategists can then take those insights and develop a comprehensive content plan that aligns with the brand's voice, values, and long-term business goals.

In content creation, AI can assist with tasks like research and basic drafting, but human writers and editors are essential for injecting the nuance, creativity, and emotional depth that truly engages audiences.

2. Campaign Planning and Execution

AI can process historical campaign data and market trends to suggest optimal campaign structures, timing, and channel mix. However, human marketers are essential for understanding the broader business context, interpreting AI-generated insights, and making strategic decisions that align with overall business objectives.

For instance, an AI system might recommend a particular type of campaign based on past performance data. But a human marketer, understanding the nuances of the current market situation, competitive landscape, and specific client needs, can refine and adapt those recommendations to create a truly impactful campaign strategy.

3. Customer Segmentation and Personalization

AI excels at analyzing customer data to identify patterns and create detailed segments. It can also automate personalization at scale. However, human marketers bring invaluable insights to understanding the nuances of different buyer personas, their pain points, and decision-making processes.

A Human-Ready Marketing Organization might use AI to create initial customer segments and generate personalized content variations. Human marketers would then review and refine those segments, ensuring they truly reflect the complexities of their audience.

They would also oversee the personalization strategy, ensuring that automated personalization doesn't come across as tone-deaf or overly robotic, especially in high-stakes communications.

4. Lead Nurturing and Customer Relationship Management

AI can efficiently handle lead scoring, email automation, and basic customer interactions, but human touch remains crucial in relationship-building.

AI can provide valuable insights into customer behavior and preferences, but human marketers are essential for interpreting those insights and using them to build meaningful, long-term relationships.

For example, AI might flag a lead as being highly engaged based on that lead's interaction with your content. A human marketer can then reach out personally, armed with AI-provided insights, to have a meaningful conversation that addresses the prospect's specific needs and concerns.

Human-AI collaboration ensures that lead nurturing is both efficient and genuinely relationship-focused.

5. Analytics and Performance Optimization

AI is unparalleled in its ability to process vast amounts of marketing data and identify patterns and trends. However, human marketers are crucial for asking the right questions, interpreting results in context, and making strategic decisions based on those insights.

A Human-Ready Marketing Organization might use AI to continually monitor campaign performance across all channels, automatically adjusting parameters (e.g., ad bids or email send times) for optimal performance.

Human marketers would then review AI-generated reports, connecting the dots between different data points, understanding the "why" behind the numbers, and making strategic decisions about resource allocation and long-term marketing direction.

Implementing the Human-Ready Marketing Model

Transforming your marketing team into a Human-Ready Marketing Organization requires a strategic approach. Here are key steps to consider:

  1. Assess your current marketing tech stack. Evaluate your existing marketing tools and identify areas where AI can enhance efficiency without compromising the human touch. Look for opportunities to integrate AI into repetitive tasks, such as data analysis, basic content creation, and campaign optimization.
  2. Redefine marketing roles. Redesign job roles to focus on tasks that require human creativity, emotional intelligence, and critical thinking. This step may involve upskilling your team in various areas, such as AI interpretation, strategic thinking, and advanced relationship-building techniques.
  3. Invest in AI education for marketers. Ensure your team understands AI capabilities and limitations in the context of marketing. That knowledge will help them work more effectively alongside AI systems and make better decisions about when to rely on AI and when to apply human judgment.
  4. Foster a collaborative culture. Encourage a mindset that views AI as a powerful tool rather than a threat to marketing jobs. Promote collaboration among AI specialists, data analysts, and traditional marketers to create more powerful, integrated marketing strategies.
  5. Prioritize ethical considerations. Develop clear guidelines for AI use in marketing that prioritize transparency, fairness, and privacy. Human oversight is crucial to ensuring ethical AI deployment, especially in contexts where trust is paramount.
  6. Ongoing Learning and Adaptation. The AI landscape in marketing is evolving rapidly. Foster a culture of continual learning and be prepared to adapt your strategies as new technologies emerge. Encourage your team to stay updated on the latest AI marketing tools and techniques.

The Future of Marketing: A Three-Tier Approach to Decision-Making

As we look to the future of marketing in a Human-Ready Organization, it's helpful to consider a three-category framework for AI-human collaboration in marketing decision-making:

  1. Decisions supported by AI. Humans analyze and make decisions using AI-generated data and insights. This approach is ideal for high-level strategic decisions. For instance, CMOs might review AI-generated market analysis and campaign performance data, but ultimately rely on their experience and understanding of the business landscape to set the overall marketing direction.
  2. Decisions elevated by AI. AI analyzes and suggests options, but humans review those options and make the final call. This approach is particularly useful for tactical decisions that benefit from a human touch. Content marketers, for example, might use AI to generate content ideas and outlines, but then apply their creativity and brand understanding to craft the final piece.
  3. Decisions automated by AI. These are typically routine, low-risk decisions that AI can handle independently without human involvement. For example, AI might automatically adjust email send times based on individual recipient behavior, or optimize ad bids in real-time based on performance data.

This framework ensures that we employ AI's capabilities in marketing while retaining essential human oversight where it matters most.

Challenges and Considerations

Although the potential benefits of becoming a Human-Ready Marketing Organization are significant, there are challenges to consider:

  1. Skills gap. Many marketers may lack the technical skills to work effectively with AI tools. Investing in AI training and potentially hiring for new hybrid roles (e.g., "AI Marketing Strategist") may be necessary.
  2. Data quality and integration. AI systems are only as good as the data they're fed. Ensuring clean, integrated data across all marketing systems is crucial but can be challenging.
  3. Ethical concerns. As AI takes on more decision-making roles in marketing, ethical considerations become increasingly important. Various issues, such as data privacy, transparency in AI-driven personalization, and potential biases in AI systems, need to be carefully managed.
  4. Maintaining brand voice. Though AI can generate content at scale, ensuring consistency in brand voice and messaging can be challenging. Human oversight remains crucial.
  5. Measuring success. Developing new metrics to measure the success of human-AI collaboration in marketing may be necessary, as traditional KPIs might not capture the full value created.

The Path Forward for Marketers

As we navigate the future of marketing, the key to success lies in embracing the synergy between AI and human capabilities. This isn't about marketers competing with AI, nor is it about resisting technological advancement. Instead, it's about creating a collaborative environment where each enhances the other's strengths.

The marketing teams that thrive in the coming years will be those that master this delicate balance, creating marketing strategies that are not just technologically advanced, but truly human-centric. By focusing on developing frameworks and practices that foster this AI-human collaboration, we can create a future of marketing that is not only more efficient and data-driven but also more creative, empathetic, and ultimately, more effective in building lasting business relationships.

In a world increasingly driven by algorithms, the Human-Ready Marketing Organization stands out not just for its technological prowess, but for its ability to leverage the best of both worlds—the efficiency and scalability of AI, and the creativity, empathy, and strategic thinking of human marketers. This synergy is the key to creating lasting value and maintaining a competitive edge in the digital age of marketing.

As marketing leaders, our challenge—and our opportunity—is to cultivate this synergy, ensuring that our organizations remain not just AI-ready, but truly Human-Ready. In doing so, we can unlock unprecedented levels of marketing effectiveness, innovation, and customer engagement, while also creating more fulfilling and meaningful work environments for our marketing teams. The future of marketing belongs to the Human-Ready Marketing Organization. Are you ready to lead the way?

-----------------------------------------------------------------------------


If you need help with your email, web site, video, or other presentation to promote your company, product, or service, please give me a call at 440-519-1500 or email me at john@x2media.us

Until next month. . . .remember. "you don't get a 2nd chance to make a 1st impression." Always make it a good one!!



Thursday, August 29, 2024

Why AI in B2B Marketing Is Essential for Survival and Success: Benefits & Strategies

Why AI in B2B Marketing Is Essential for Survival and Success: Benefits & Strategies

B2B marketing has undergone a significant transformation in recent years, and AI has become an integral part of that evolution.

Fully 62% of B2B marketers are already using AI-powered marketing tools, according to a Forrester study, and the proportion is expected to increase to 75% by the end of 2024.

As businesses strive to stay ahead of the competition, many are wondering whether those that don't adopt AI-powered marketing are sinking without access to a lifeline.

The primary reason for the rise of AI in marketing is the increasing availability of data, which AI can process and analyze to provide valuable insights.

AI's ability to process vast amounts of data in real-time enables marketers to gain a deeper understanding of customer behaviors and preferences. That level of insight allows for more precise segmentation and targeting, ensuring that marketing efforts are more relevant and effective. AI algorithms can predict future trends and consumer needs, enabling businesses to proactively adjust their strategies and stay ahead of the competition.

With AI, businesses can automate repetitive tasks, personalize customer experiences, and optimize marketing campaigns.

For example, AI-powered chatbots can handle up to 80% of customer inquiries, freeing up human customer support agents to focus on more complex issues.

AI can enhance content creation by generating personalized recommendations and dynamically adjusting messaging based on user interactions. That not only improves engagement but also fosters stronger customer relationships.

As AI continues to evolve, its applications in marketing are expected to expand, providing even more innovative solutions to drive business growth and customer satisfaction.

One of the biggest and most significant benefits of AI in B2B marketing is this increased level of personalization. AI allows businesses to create highly targeted and personalized content, improving customer engagement and conversion rates. Personalized content can increase conversions up to 20%, according to a study by HubSpot. Also, AI-powered predictive analytics enables businesses to forecast customer behavior, identify potential churn, and develop individually targeted retention strategies.

Automation is another key benefit of AI in B2B marketing. AI can automate repetitive tasks, such as data entry, lead scoring, and social media management, freeing up human resources to focus on high-value tasks such as strategy development and creative problem-solving. And according to a study by McKinsey, companies that automate repetitive tasks can reduce costs by up to 30%.

So many businesses and industries are embracing AI, that the consequences of not doing so in the B2B marketing arena can be severe. Without AI, businesses will find that they struggle to keep up with competition and struggle to optimize their marketing campaigns, leading to wasted resources and poor ROI. The marketing ROI of companies that don't adopt AI-powered marketing strategies may decline up to 20%, according to a study by Gartner. In addition, inadequate customer support can lead to frustration, churn, and negative word-of-mouth.

For businesses looking to get started with AI-powered marketing, it can be beneficial to start small:

  • Begin with a single AI-powered marketing tool or technology, such as a chatbot or predictive analytics software, and ensure that it aligns with your business objectives.
  • It's also crucial to integrate AI with human creativity and intuition, as AI alone is not enough to drive marketing success.
  • Finally, continually monitor and measure the performance of your AI-powered marketing campaigns to identify areas that need improvement.

As AI continues to evolve, it's essential for businesses to stay up-to-date with the latest developments and best-practices.

According to a study by PwC, 72% of CEOs say AI will significantly change the way they do business in the next five years. To stay ahead of the curve, businesses should prioritize AI training and education for their marketing teams, as well as invest in AI-powered marketing platforms and tools. By doing so, they can ensure that their marketing strategies are optimized for AI and that they're able to leverage its full potential.

In addition, businesses should prioritize data quality when implementing AI-powered marketing strategies. According to a study by Experian, 62% of businesses struggle with data quality, which can lead to inaccurate predictions and poor marketing decisions. To overcome that challenge, businesses should prioritize data cleansing and validation, as well as invest in data management platforms and tools. By doing so, they can ensure that their AI-powered marketing strategies are based on high-quality data and that they're able to achieve maximum ROI.

AI has become an essential component of B2B marketing, offering numerous benefits such as personalization, predictive analytics, automation, data analysis, and improved customer experience.

Although some businesses may be hesitant to adopt AI-powered marketing strategies, those that don't may struggle to compete and thrive in the market.

By taking note of the ideas outlined above, businesses can get started with AI-powered marketing without feeling overwhelmed.

-----------------------------------------------------------------------------


If you need help with your email, web site, video, or other presentation to promote your company, product, or service, please give me a call at 440-519-1500 or email me at john@x2media.us

Until next month. . . .remember. "you don't get a 2nd chance to make a 1st impression." Always make it a good one!!