The second quarter is often the peak time for you and other large enterprise B2B marketers to be out at events telling your stories to prospects. Due to COVID-19, we’re seeing many cancellations in industry events during 2Q. The few events that continue on will no doubt be sparsely attended due to travel restrictions at the very companies with which you want to connect. Does this mean the death of your pipeline for 2020 business? It doesn’t if you’re able to get a disproportionately larger output from your other sources of leads.
A few years ago, Scott Brinker and the Third Door Media team declared that MarTech is marketing. There is no difference between marketing technology like personalization and just plain marketing. It used to be you’d ask the question “Tell me about your martech stack.” That’s no longer the case today–it would even be perhaps a weird question.
Improving Customer Engagement for Industrial Marketers
Marketers working in machinery, chemicals and other heavy industries have long been behind the digital curve. For many companies, digital hasn’t become part of your repertoire as quickly because of the complex distribution channels and analogue ways of engaging with clients. B2B, especially industrial marketers, have been lagging.
At the heart of all great businesses are domain experts who are excellent at execution. Regardless of whether the business remains highly analog (increasingly rare in today’s marketplace) or is the latest emerging digital start-up domain expertise and execution wins over technology disruption alone.
There’s an old joke about two guys walking through the woods. All of a sudden they see a bear, and the bear starts moving towards them. The first guy sits down, pulls a pair of running shoes out of his backpack and slides them on. The second guy says, “What are you doing? You’re not going to outrun that bear.” And the first guy says, “I don’t have to outrun that bear. I just have to outrun you.”
In high stakes competitive chess, there’s a gaming style called “Freestyle” which is just as “ditch-the-rulebook” as it sounds. The best players are called “centaurs” and although these particular centaurs aren’t half-human/half-horse, their makeup runs along the same logic.
Since the beginning of the year, I’ve had 147 conversations with B2B marketing leaders. These aren’t sales calls. I’m not pitching anything. They’re conversations about the issues that are top of mind for these professionals. I guide these discussions with questions around areas we’re interested in, but the main goal is to get a sense of the market. It turns out that personalization is a top of mind issue.
“Come on. All this AI stuff, around marketing and sales, that’s all just hype, right? That’s not a real thing that matters. Maybe it’ll matter someday. But it doesn’t yet matter today.”
That’s a question I got recently, and it got Steve Zakur and I wondering where we are on the hype curve. Is it really just all hype? Maybe not — platform companies are snapping up data scientists the way early internet companies snapped up web developers.
Why is it that with all the marketing technology vendors claiming their products are fortified with AI pixie dust, business results aren’t better? The same goes for internal IT projects. Everyone wants their process to be better–and artificial intelligence, machine learning, and text analytics can provide that something special. And yet, it doesn’t feel like something special is occurring. At least not in the way that lots of consumer products are getting smarter and better.