#futureb2b: exploring the impact of technology on b2b marketing
TRANSCRIPT
Lance BairdVP, Business Strategy and Development
#FUTUREB2B:EXPLORING THE IMPACT OF TECHNOLOGY ON B2B MARKETING
[ 2 ][ 2 ]
I’m a huge fan of technology and the movies. In the early 80s? Star Wars.
[ 3 ][ 3 ]
Back to the Future made time travel possible several years later.
[ 4 ][ 4 ]
Then in 1999, The Matrix introduced us to a world of “big data.”
[ 5 ][ 5 ]
Most B2B marketers are wary of technology, however. It’s rarely discussed.
[ 6 ][ 6 ]
PresentationOutline
Marketing Research
Technology Trends
Implications
So, let’s take a closer look…
[ 7 ][ 7 ]
Marketing Research#futureb2b: Exploring the Impact of Technology on B2B Marketing
First, we’ll review the research.
[ 8 ][ 8 ]
The IBM Global CMO Study, October 2011.
[ 9 ][ 9 ]
Over 1,700 marketers were surveyed globally, a mix of B2B and B2C.
[ 10 ][ 10 ]
CMOs believe “technology factors” are significantly affecting their business.
[ 11 ][ 11 ]
They also feel highly unprepared when it comes to the subject.
[ 12 ][ 12 ]
Despite their ignorance, CMOs plan to use more technology.
[ 13 ][ 13 ]
They’ll face several roadblocks along the way, however, such as cost and IT.
[ 14 ][ 14 ]
Perhaps that’s why external partners will likely bridge the gap.
[ 15 ][ 15 ]
Marketing ResearchSummary
• Technology is one of the biggest external forces affecting organizations today
• CMOs are remarkably unprepared in this field, failingto understand its capabilities and enormousbusiness potential
• Despite poor knowledge and a lack of ROI certainty, CMOs are planning to use more technology in awide variety of initiatives
• CMOs also are looking to outside resources and external partnerships to fill the gaps
(Source: IBM Global CMO Study, 2011)
A wrap-up of the research.
[ 16 ][ 16 ]
Technology Trends#futureb2b: Exploring the Impact of Technology on B2B Marketing
Now, let’s move onto technology trends.
[ 17 ][ 17 ]
Technology TrendsOverview
(Source: Peter High, Forbes contributor, “Gartner: Top 10 Strategic Technology Trends for 2014”)(Source: Institute of Electrical and Electronics Engineers, “Top Trends for 2013”)(Source: PwC, “2013 Top 10 Technology Trends for Business”)(Source: Cisco.com, “Technology Trends”)
Technology experts generally agree on the major trends. Here’s my top 3.
[ 18 ][ 18 ]
The first trend is the “Internet of Things,” a world of interconnectivity.
Can you envision a world where endless objects “talk” to each other and you?
[ 20 ][ 20 ]
GE can, which is why they’re banking so heavily on “Predictivity.”
[ 21 ][ 21 ]
The second major trend is mobile computing.
[ 22 ][ 22 ]
Adobe’s State of Mobile Benchmark, May 2013.
Tablets are significantly driving web traffic, now more than smartphones.
Video consumption across mobile devices is also exploding!
[ 25 ][ 25 ]
Big data visualization is the third and final technology trend.
[ 26 ][ 26 ]
IBM recently discussed the latest in this area at their 2013 annual conference.
[ 27 ][ 27 ]
Their biggest hit was “Project Neo,” which integrates “conversational search.”
[ 28 ][ 28 ]
Technology TrendsSummary
• Experts and technology consultants generally agree on the major technology trends
• The “Internet of Things” describes an interconnected world of objects (e.g. machines) with the ability to communicate with one another and the user
• Mobile computing (the use of tablets and smartphones) continues to increase exponentially
• Advances in computing power are allowing users to illustrate the relationships within data more easily,a process called “big data visualization”
(Source: Peter High, Forbes contributor, “Gartner: Top 10 Strategic Technology Trends for 2014”)(Source: Institute of Electrical and Electronics Engineers, “Top Trends for 2013”)(Source: PwC, “2013 Top 10 Technology Trends for Business”)(Source: Cisco.com, “Technology Trends”)
A brief summary of the technology trends.
[ 29 ][ 29 ]
Predictions#futureb2b: Exploring the Impact of Technology on B2B Marketing
Finally, the hard part. How is technology likely to impact B2B? 4 predictions.
[ 30 ][ 30 ]
First, I believe “old-fashioned” customer research will make a comeback.
[ 31 ][ 31 ]
As B2B grows more complex, firms will seek closer customer connections.
[ 32 ][ 32 ]
B2B campaigns will be fashioned to this end, like John Deere’s “Chatterbox.”
[ 33 ][ 33 ]
Second, I believe B2B marketers will think “mobile first” within 3 years.
[ 34 ][ 34 ]
Computers can already understand human language and its many nuances.
[ 35 ][ 35 ]
This ability facilitates conversational search, ultimately driving greater traffic.
[ 36 ][ 36 ]
Thus, “mobile first” will be the new normal in B2B. Google thinks so, too.
[ 37 ][ 37 ]
Third, I believe “growth hackers” will rise in popularity.
[ 38 ][ 38 ]
The hybrid of marketer and coder, this group is highly conversant in digital.
[ 39 ][ 39 ]
As such, they can act with great speed and agility, even with little budget.
[ 40 ][ 40 ]
Finally, B2B companies will increasingly employ “marketing technologists.”
[ 41 ][ 41 ]
Like growth hackers, marketing technologists are also well-versed in digital.
[ 42 ][ 42 ]
They are more knowledgeable of larger IT issues, however, like “big data.”
[ 43 ][ 43 ]
As such, they should be able to bridge the CMO/CIO gap, demonstrating ROI.
[ 44 ][ 44 ]
PredictionsSummary
• As B2B marketing grows increasingly more complex,marketing professionals are more likely to focus on what they do best – extracting “voice of the customer” insights – to mitigate risk
• Expect “old-fashioned” customer research(e.g. focus groups, customer interviews, etc.) to rise in popularity once more – quality over quantity
• The global adoption of mobile, combined with highly sophisticated, real-time speech recognition technology, is fueling “conversational search”
• Google’s latest algorithm update (“Hummingbird”) is proof of a strong push in this direction
• Mobile will no longer be an “add-on” consideration;it will be the core in one’s B2B marketing strategy
A quick summation of the four predictions.
[ 45 ][ 45 ]
PredictionsSummary
• The world will eventually be one, giant computer,the underlying principle behind the “Internet of Things”
• The most accomplished B2B marketing professionals will be conversant (not necessarily fluent) in this digital language
• As marketing budgets remain tight, agility, testing, and re-testing will be the key drivers for success, thus fueling a need for “growth hackers” (or at least those with this mindset)
• B2B marketing professionals are increasingly aware of their need to interface with those in IT, looking to make sense of the “big data” in their campaigns (ROI)
• To facilitate this relationship, the need for B2B “marketing technologists” will arise
(continued)
A quick summation of the four predictions.
[ 46 ][ 46 ]
PresentationSummary
Research
Technology Trends
Predictions
Most B2B marketers lack an understanding of technology and its enormous business potential
“Internet of Things” Mobile computing Big data visualization
Old-fashionedcustomer research
Mobile first
Growth hackers Rise of themarketing technologist
Here’s my take on the future of B2B. What say you?
Lance BairdVP, Business Strategy and Development
#FUTUREB2B:EXPLORING THE IMPACT OF TECHNOLOGY ON B2B MARKETING
http://www.linkedin.com/in/lanceabaird