The End of the Traditional B2B Playbook? An Interview With Marketo & Engagio Founder Jon Miller
In a recent insightful interview with Jon Miller, co-founder of Marketo, Engagio and ex-CMO at DemandBase, we delved deep into the transformative trends shaping the B2B marketing ecosystem. The discussion centers on the 5 key transformations that explain why and how to adapt your business to the latest trends. Here’s a snapshot of the key takeaways, but for the full range of insights, you won’t want to miss the complete interview. Ready to watch? Click here to jump right into the video (we won’t be offended).
Why a Shift is Necessary
Jon first emphasized how the traditional B2B marketing playbooks of the last 15 years are just not cutting it anymore. With CMOs’ ever increasing pipeline targets, and budgets being trimmed instead of expanded, marketers are finding themselves trying to achieve an impossible task, growth.
1. Reimagining Brand’s Role in B2B
One of the first significant shifts that is discussed is the refocusing on the brand. In contrast to a purely demand-gen focus, a stronger brand presence aids in enhancing overall marketing performance, including retention. Jon highlighted a study by Benchmarker, which revealed that successful companies invest more in branding than demand generation.
2. The Rise of Buying Group Marketing
Transitioning from Account-Based Marketing (ABM) to Buying Group Marketing (BGM) is seen as the next step in the evolution of B2B marketing. Gone are the days of only targeting your ICP, to increase your chance of conversion you must include the buying committee that surrounds the individual in your targeting. This will provide a more accurate understanding of potential opportunities.
3. Revising Measurement and Success Metrics
In the changing landscape, Jon suggested that metrics should focus more on account and buying group journeys, using engagement via time as a key indicator. Attribution was the name of the game, but engagement offers a valuable understanding of customer interaction and can be a precursor to revenue generation.
4. Own Your Audience – Regulation and Attention
With increasing regulations and the deprecation of third-party cookies, marketers are forced to adapt. Jon advised on the importance of building first-party data and focusing on owning your audience, likening it to subscription models in B2C contexts.
5. AI in Marketing: Separating Hype from Reality
Lastly, the conversation turned to AI’s role in marketing. While acknowledging the short-term hype and potential backlash against AI-generated content, Jon is optimistic about AI’s long-term potential to understand marketing intricacies and assist in strategic decision-making.
Check out the full session and see how these shifts indicate the need to rewrite the B2B Playbook in 2024.
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