The Ghost Of B2B Marketing’s Future

Is B2B dead? Not at all. But if we don’t evolve our thinking, it’s in danger of becoming even more challenged.

B2B marketers, the end is near. Time to start planning funerals and career changes. Or at least that’s what you might assume from the outcome of a short and pointed poll we recently conducted on Twitter.

Asking whether people agree with the statement that “B2B marketing is dead,” more than two-thirds (68%) of the 339 respondents said that it is dying or is already dead. A mere 33% feel it is “alive and well.”

Before I go on, let’s address the elephant in the room: A Twitter poll is not research. It’s not science. It’s Twitter. But it’s intriguing to see how people respond.

With that in mind, I see several intriguing aspects to these results. Nearly seven out of 10 respondents feel B2B marketing is dead or dying. That’s a huge number, period. And responses were nearly evenly split among the three selections, which indicates a lack of consensus about the relevance of B2B in today’s marketplace.

The Marketing Dialogue Needs To Evolve

Full disclosure: I disagree with the findings of this poll. Having specialized in B2B marketing as an agency for 45 years, our mere existence today is proof that the discipline is a relevant one. Despite the challenges—B2B is often relegated to the “kids table” in terms of talent and resources in many organizations—there will always be a need to connect brands with business audiences. Ergo, the concept of B2B marketing is as relevant and important as it has ever been.

That said, many of the traditional notions and standard practices of B2B marketing are outdated, and as a marketing community, we need to fix that. The dialogue must evolve and we must shed the antiquated approach of applying these distinctions with uniformity. In my opinion, we need a new starting point.

Considered Purchases vs. Impulse Buys

To me it’s not about the differences between B2B and B2C marketing. It’s about the similarities. Instead of starting by asking whether a buyer is a business or consumer, marketers should start by asking, “Is my product or service an impulse buy or a highly considered purchase?”

The opposite of an impulse buy, a considered purchase involves a complex buying decision with a relatively high degree of financial and/or emotional risk and reward that requires very meaningful deliberation prior to purchase. In our experience, most B2B buying decisions are considered purchases; after all, one could argue that there are few emotional and financial risks as significant as losing your job should you make a bad decision while purchasing on behalf of your company. But many complex consumer purchases are highly considered as well. And the customer journeys for considered purchases are very similar, whether B2B and B2C, and require unique marketing approaches that are quite dissimilar from those applied to impulse buying decisions.

When you frame the conversation in this way, it becomes clearer why two-thirds of respondents to our poll feel that B2B marketing is dead or dying. A large percentage of our industry is focused on impulse buying, including fast-moving consumer goods and consumer packaged goods, for example. These flashy campaigns attract a lot of attention, with highly emotional approaches meant to influence the impulse buyer. Rarely do you see these approaches applied in business marketing. The question is, why not?

Considered Purchase Marketing

As marketers, we’ve been so focused on the differences between B2B and B2C that we’ve missed the many similarities. That’s why global marketers must look beyond this obsolete terminology in favor of an inclusive approach focused on the purchase journey and what motivates buyers at each stage during their deliberations.

Our realization was that all marketers have both business and consumer audiences, channels, and challenges. And the information required to make considered purchase decisions is remarkably similar, whether the buyer is in a personal or professional role. By focusing on developing a deep understanding of the purchase journey, we’re better able to apply the right tools, technology, and message with appropriate emotional appeal—as opposed to more facts and features—at the right time to intersect with and influence our buyer.

The Future Of B2B Marketing

Is B2B dead? Not at all. But if we don’t evolve our thinking, it’s in danger of becoming even more challenged. By adopting a new starting point—considered purchase versus impulse buys—marketers have a more effective way to approach complex marketing challenges, regardless of whether it’s B2B or B2C.