By this point in the technology cycle, the recent Cisco and IMD survey findings that four out of 10 top-ranked companies within their industries won’t last the next five years is not surprising. Even the study authors note that there is an “historical parallel to what occurred after the advent of the Web in the mid 1990s: Just 25 percent of the Fortune 100 top U.S. companies were still in existence 15 years later.”
We get it. Businesses need to reinvent what they do and how they do it, and they need do it at the speed of digital. But that’s hard, and there are a lot of reasons why businesses, and especially B2B ones, can’t just wave a magic app and “do” that. But there is a group within every B2B that doesn’t have any excuses for not innovating: The Marketing Department.
Consumer marketing is defined by its innovation, by its ability to come up with new ways to get to consumers, new ways to be memorable. B2B marketers should be sharing that same imperative to innovate for the same reasons.
But B2B marketing is often stuck in the same old dinosaur tracks, doing the same old things and hoping to Warren Buffet that the status quo will hide them. That’s why B2B marketing is often just a factory for quick collateral, amateur presentations, emails, and conference booth wrappings. In other words, things that are low-risk and expected.
But as a marketer, it’s your job to make your company stand out—and to stand out inside your company while you do so. And today, there are all kinds of ways to do that.
We’re in the experience era, where everything must be contributing to a unique, high-quality, brandable experience, whether that’s a simple microsite or a PowerPoint presentation. We’re in the apps era, where new tools are being invented every day to aid the sales force. We’re in, well, a lot of eras. So there’s no reason to not jump in and start experimenting and innovating. Well, there is a reason, it’s called “hide, squirrel away budget, and hope to survive.” But that’s not a good one.
When B2B companies inevitably tighten belts, it’s often the marketing department that’s sliced. Why? Sure, it’s partly because in the B2B world, it’s easy to mistake marketing for a luxury as it’s not easy to gauge its impact on sales. But mostly, they’re in danger because it’s extremely obvious that the marketing part of the business isn’t innovating, so the loss is a minimal one that can be remedied later in more liquid times.
The marketing department is there to help make the sale, either indirectly through brand awareness or directly through how it equips its sales force. Just like the digital business, to continue to do that effectively, the marketing department must disrupt itself. Before it gets disrupted.