Founder and Virtual CMO at Virtù b2b, marketing consultant, author, and iconoclast-in-residence.
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In all likelihood, 2020 will not go down in history as a banner year for B2B marketing. Though not a total loss, this has definitely been a year of lowered expectations. Now, with the year already half over, I’ve compiled my own list of the top 10 business-to-business (B2B) marketing trends — good and bad — of 2020.
Let’s start with some good news.
Aside from the obvious challenges, there’s still plenty that’s right with the world and B2B marketing. If you look for the evidence, signs of hope are all around. In fact, there are so many positive marketing trends, it’s hard to limit myself to just five.
Compassion: Despite popular notions that marketing is evil, the pandemic has demonstrated otherwise. By and large, marketers, and especially B2B marketers, have demonstrated remarkable tact, compassion and altruism. In a recent article, Blake Morgan enumerated 50 ways companies (of all stripes, including tech giants like Microsoft and Google) are giving back during the pandemic.
Restraint: When it comes to outbound email marketing, less is definitely more. Companies are shifting focus to account-based marketing (ABM) and other tactics. In a recent blog roundup, 20 experts weighed in on what B2B marketing strategies are working right now. One stated, “Many marketing organizations have doubled down on customer retention, up-sell and cross-sell strategies, often leveraging incoming intent data signals.”
Optimism: People are still launching new businesses. The New York Times recently reported (subscription required) that “There have been more than 500,000 applications for an employer identification number since mid-March, according to the Census Bureau, although that is down nearly 20% from a year ago.” Likewise, many B2B buyers are still buying. According to one survey, “53% of respondents are in the market for B2B products and services, most of whom now have new interests due to Covid-19.”
Resilience: In-person events have been decimated by the pandemic. In April, PCMA reported 87% of in-person events were canceled and 66% were postponed as a result of Covid-19. Notwithstanding huge setbacks, many agencies and B2B marketers have stepped in to help events transition to virtual.
Outcomes-Based: With many people working from home now, the definition of productivity is changing. As a recent article published by Fast Company explained, time-based performance measurements were “a convenient measurement tool for a period defined by standardization, where the vast majority of jobs valued physical presence over cognitive output.” For many, this change will require new routines, work habits and key performance indicators (KPIs). In the long run, however, a greater focus on measuring what matters — actual business outcomes — will be good for everyone.
Now for the not-so-good trends.
The last in-person trade show I went to was in early March. Overall, I was not impressed. I saw a distinct lack of originality. While B2B marketing has always been staid compared to business-to-consumer (B2C), the problem with uniformity is it undermines B2B’s goal: to connect with the audience and communicate value. Along these lines, in descending order of severity, below are what I’ve deemed to be the biggest B2B marketing offenders of 2020.
Conformity: This isn’t a case of bland B2B marketing offending my creative sensibilities. It’s the rampant lack of differentiation that demonstrates a fundamental misunderstanding of the core principles of marketing. It undermines competitive advantage and ultimately amounts to brand-damaging behavior — a cardinal sin for any B2B marketer. To effectively break through the noise, you need to stand out. Then your audience needs to say, “Yes! That’s exactly what I want.”
Jargon: Next door to clichés, B2B marketing jargon is a soul-deadening shorthand that obscures meaning and value. According to B2B Marketing’s hilarious post, “21 marketing and branding clichés to avoid at all costs,” “Whether it’s toe-curling stock imagery, or patronising website garble, we’ve all witnessed (and are guilty of) our fair share of marketing clichés.” I’d also add the extremely overused acronyms AI and ML, the term growth hacking and my new least favorite word: transform (in all its variations). Next time a cliché pops into your head, just rephrase it.
LinkedIn Spam: I love LinkedIn as much as the next B2B marketer. What I have contempt for is the growing number of people who think LinkedIn is their own personal lead generation machine — especially those who bombard me with solicitous invitations that sound like they want to connect with me. The invitation is always followed by another message asking for 15-30 minutes of my time. Instead, try waiting a couple of weeks, and then share something of value, such as an article you think your recipient might want. Trust me, you’ll get better results.
Data-Driven: Every time I see an ad for a B2B marketing job, particularly with a startup or small to midsized company, that says “must be metrics obsessed” or “data-driven,” I roll my eyes. What they need is growth, not more data. As the Andreessen Horowitz blog put it, “all marketing is a combination of both science and art, so companies typically need some level of both disciplines.” Ultimately, B2B marketing success should not be measured in the number of clicks or even leads generated, but by its ability to drive real business growth.
The ‘New Normal’: Whether you’re talking about social distancing, annoying chatbots or B2B podcasts, please stop calling everything the “new normal.” Like many other people, after spending months in a forced time-out, I’ve become acutely aware of the things I no longer need. Let’s find another expression. In fact, say anything but that. Try saying the “new abnormal” and see what kind of reaction you get, or just say what you mean: that things have changed.
To put a letter grade on 2020 to date, I’d give it a solid B. To raise it to an A, I suggest B2B marketers focus more on developing their core value propositions, differentiating their products and, most of all, finding their own voices. Seriously, in 2020, there’s no reason we all need to be the same.
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