B2B Marketing is falling flat. Here's why.

It’s a jungle out there right now.  As a long-time B2B marketer navigating today's cut-throat landscape, it's clear that the textbook B2B marketing approaches no longer yield the results they once did.

The reality is this: Strategies are faltering or non-existent, lacklustre efforts are met with (justified) indifference, competition is fiercer than ever, and there’s simply far too much wishy-washiness to contend with.

Unsurprisingly, the elusive B2B buyer remains beyond reach.

I’ve long been a fan of the work of Velocity Partners, and back in 2013, they were predicting this. In their Slideshare rant, “Crap: the single biggest threat to B2B Content Marketing”, they lament the oversaturation of content - then still in a relatively manageable, albeit growing state - what this means for marketing/internal teams, and the result this will have on B2B marketing as a whole.

Spoiler alert: it’s what we’re experiencing today.

Our obsession with marketing automation and aggressive performance metrics aren’t helping matters, and pouring more and more resources into quick-fix tactics like fast content production at any cost, panicked PPC campaigns and beige, impersonal and useless sponsored LinkedIn content perpetuates the cycle of diminishing returns.

It's time for B2B marketers to confront the very uncomfortable truth: the tactics most businesses rely on are fueling the decline of overall B2B marketing effectiveness. We’re fucking things up for ourselves.

And, most cutting of all, at the heart of this lies a fundamental problem: We've lost sight of the buyer.

How the hell did that happen?

I was recently sent an eye-opening report by Demand Exchange and London Research entitled “The State of B2B Lead Generation 2024”, and in it, there’s this wonderful quote from John Watton, VP of Marketing EMEA at VMware, which very sums up the B2B marketer’s current predicament:

“As marketers, we have to reconcile ourselves to the fact that while we can try and guide people by the hand, ultimately the journey is defined by the buyer. We need to let them drive the conversation and when they’re ready, they’ll let us know by interacting with our digital content, coming to an event, or wanting to talk to someone. And that’s really hard because culturally, we’re used to broadcast rather than conversation.”

In our quest for efficiency and scalability, we've neglected Marketing 101 — truly understanding the audience. While customer success or feedback initiatives have their place and their merits, they fall short of addressing the evolving needs of B2B buyers, and nobody’s really taking the time to understand them.

B2B buyers, like any consumer, simply want to have their needs, wants and challenges heard.

Forrester has declared that the “fundamental changes in B2B buyers’ behaviour have reached an inflection point — and now pose an existential threat to all organisations. Buyers now expect a fundamentally different relationship with your company.”

Change is a-coming, and it’s both a threat and an opportunity. They’re looking for open connections, a genuine understanding of their wants and needs, and useful options to tackle them.

And, don’t get me wrong, many are trying. But most businesses that have completed persona work or dabbled in identifying their ICP usually do only half of the work. They might sit in a room for a couple of days deciding what “Jill” the fictional “Head of Procurement” likes to read on her commute, or what her buying influences might be, but rarely is this validated in any way with buyer insights or wider research.

It’s also a one-sided piece of work, in most cases.  I don’t hear of many organisations that identify, validate and then show how they can actually be useful to this buyer in their offering by utilising their findings. They rarely adjust their services or approach to go ‘all in’ on an audience-first strategy. It usually only (if we’re being honest here guys!) results in yet more “meh” blog content or tweaked messaging that talks about… you. Not them or their needs.

Let’s Change Tack

Crafting buyer propositions and marketing strategies isn't just about aligning sales and marketing and calling it a job done.

It's a company-wide, long-term effort - and it’s always evolving, as we humans tend to do (even B2B ones!). It requires insights from all corners of the business to truly understand buyers and customers and needs unified buy-in from team members throughout the company. By communicating the importance of this work, and uniting everyone around the target customer, it’s possible to create a culture where their needs drive everything the business does and says.

It’s what happens in B2C companies and it should be happening in B2B organisations, too. But, for some reason, most get bogged down talking about their service package, their “highly experienced” team, their accolades and their internal culture.

This is all very well and good from a brand perspective but doesn’t tell the buyer how they know the answer to their problems and/or goals, and it doesn’t win business. I’d even argue that it brings in the wrong kind of lead, and since 2 out of 5 B2B marketers say generating high-quality leads is one of their top 3 challenges, it’s a biggie.

Engaging buyers and customers is an ongoing journey in B2B. Organisations must guide buyers through every stage of their buying process, from initial interest to post-purchase support. This means providing relevant, valuable content and experiences each step of the way, whether it's through well-researched articles and white papers, workshops, or more immersive, personalised experiences like specialist events.

By taking this approach, you're giving your top-tier buyers the attention they rightly deserve, and aligning with their increasing expectations. It's a tangible way to showcase your unwavering commitment to their success, demonstrating the indispensable value your products and services bring to the table for their business.

B2B Marketing Success in 2024

It’s abundantly clear that to achieve success in B2B marketing in 2024 and beyond, a fresh approach is required for the majority of organisations.

That means investing in discovering and understanding your ICP, looking at your client base to see how this matches up and how you’re serving them, identifying gaps - whatever they may be, and refining your proposition and offering based on the powerful insight you’ve gathered in the pursuit of high-quality, relevant leads.

It also means focusing less on the hard sell of “we do this, this and this” (agencies are particularly bad at this!) and more on problem-focused, relevant content and assets that highlight to the target audience why you’re the solution to their headache.

But even then, it’s not all swings and roundabouts, and as marketers, we have to get real on how quickly we’ll see results, as explained in this spot-on quote from Anthony Botibol, Head of Marketing at Relay42 in The State of B2B Lead Generation 2024 report:

“Marketers often forget that just 1-5% of their Ideal Customer Profile are actually in-market for their product in any given year. An always-on approach to awareness and education is therefore critical for year-on-year success so a potential target customer knows you can benefit their business.”

To do it justice, consistency is key.

Ready, set, go!

I don’t know about you, but the start of a new financial year brings a whiff of change and a chance to freshen things up a little, starting the year as you mean to go on.

If this resonates, a deep dive into your ICP and messaging may be a good place to start, and I’d love to help guide your organisation on that journey.

To find out more, visit our Services page, or get in touch.