Avoiding the Pitfalls to B2B Success: Final in a four-part series

In my B2B Executive Playbook, I take my readers through the four steps that can simplify strategic planning, focus product development and sales and marketing efforts, and most importantly, create a clear path to market leadership. In this four-part series, Avoiding the Pitfalls to B2B Success, I review the common pitfalls that challenge B2B firms. Be aware of them and act quickly if they surface in your company.

Pitfall #4
Chasing the competition 

Chasing your competitors is the fastest path to the bottom, with only two possible outcomes: First, there is a very strong possibility you are following a competitor that doesn’t know where it’s going—and you will follow them down. Second, there is the possibility the competitor is right—and you will finish in second place.

Even if you do succeed in achieving sustainable, predictable, profitable growth in this way, you will only achieve it after your competitors. Stanford Graduate School of Business professor William Barnett calls this “Red Queen Competition”—you run faster and faster, but you never get ahead. 

Bottom Line:

If you chase your competitors, they will always have the edge. Don’t put your fate in your competitor’s hands. In the end, only one path to sustainable, predictable, profitable growth will yield industry leadership: a strategy grounded in the intersections between the needs of the market and a B2B company’s business model and core competencies.

geehangroup.comExecutive customer-focused strategies and tactics in The B2B Executive Playbook enable B2B companies to avoid the four common pitfalls. But even with this Playbook as your guide, it will take constant vigilance and commitment to gain the full benefits of your executive customer programs ©2017 Geehan Group

 

Read the other articles in this series:

Pitfall #1: Inside-Only Thinking

Pitfall #2: Limiting Input to End Users

Pitfall #3: Following a Single Customer

 

 


Sean Geehan is founder and CEO of Geehan Group, National Best Selling Author of The B2B Executive Playbook and a celebrated speaker. Sean has more than 25 years’ experience successfully guiding B2B executives to sustainable, predictable, profitable growth for their organizations. To schedule Sean as a speaker, contact him at (877) 226-1621 or visit www.geehangroup.com.

Looking for more information on how to be successful in your B2B business? Download Sean Geehan’s free article “B2B: A Different Game.” Click here

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Avoiding the Pitfalls to B2B Success: Third in a four-part series

(c)Geehan Group

In my B2B Executive Playbook, I take my readers through the four steps that can simplify strategic planning, focus product development and sales and marketing efforts, and most importantly, create a clear path to market leadership. In this four-part series, Avoiding the Pitfalls to B2B Success, I review the common pitfalls that challenge B2B firms. Be aware of them and act quickly if they surface in your company.

Pitfall #3
Following a single customer 

It’s a common story: a new CEO takes the reins and goes to visit the company’s key customers to establish relationships, make sure promises are being met, say thanks, and offer access. On each of these visits, the CEO asks the CEO at the customer company, “What are your biggest issues?” and “What keeps you up at night?”

Terrific questions. 

But then things start to unravel. The CEO hears something at one account that strikes a chord. A big idea; a game changer. He comes home and redirects the company’s development teams, strategy, and resources, based on a single conversation. 

(c)Geehan GroupImagine having your entire leadership team, including functional heads, tethered to a single reference point – and that one reference point is a group of 10 to 25 true decision makers from your most important customers. Once or twice a year, they gather offsite to discuss developments in their industries, markets, companies, and specific areas of responsibility.

Executive Customer Advisory Council meetings have a transformative effect of leader-to-leader relationships, both externally and internally. The executive customers who attended the meeting now seek you out because you provided such a valuable forum for them to network and learn from their peers. They want to do more. They have become part of your team.

Case:

The CEO of a $10 billion manufacturing services company met with the president of his company’s biggest customer. The president suggested a solution to a problem with which he said twenty other major players in his industry were also struggling. This convinced the CEO to invest more than $100 million in developing the solution. Two years later, no one, including the original customer, was willing to buy the solution. The B2B seller had rechanneled its key resources, lost credibility in the market, fallen behind its competitors, and ended up writing off the entire project. 

(c)Geehan GroupBottom Line:

The only way to secure market alignment is to enlist a market collective to validate direction and major development projects. Most B2B offerings need a market, not just one customer. ©2017 Geehan Group

 

Read the other articles in this series:

Pitfall #1: Inside-only Thinking

Pitfall #2: Limiting Input to End Users

Pitfall #4: Chasing the Competition

 


Sean Geehan is founder and CEO of Geehan Group, National Best Selling Author of The B2B Executive Playbook and a celebrated speaker. Sean has more than 25 years’ experience successfully guiding B2B executives to sustainable, predictable, profitable growth for their organizations. To schedule Sean as a speaker, contact him at (877) 226-1621 or visit www.geehangroup.com.

Looking for more information on how to be successful in your B2B business? Download Sean Geehan’s free article “B2B: A Different Game.” Click here

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Avoiding the Pitfalls to B2B Success: Second in a four-part series

Geehan Group 2017

In my B2B Executive Playbook, I take my readers through the four steps that can simplify strategic planning, focus product development and sales and marketing efforts, and most importantly, create a clear path to market leadership. In this four-part series, Avoiding the Pitfalls to B2B Success, I review the common pitfalls that challenge B2B firms. Be aware of them and act quickly if they surface in your company.

Pitfall #2
Limiting Input to End-Users

The second pitfall is triggered when B2B companies depend too heavily on customer input gathered from end users. This overdependence usually results in more of the same. Most companies are very good at establishing customer dialogue at this level. However, end user input is typically focused on product improvements aimed at maximizing the user experience. As Henry Ford is reputed to have said, “If I’d asked my customers what they wanted, they’d have said a faster horse.” 

The problem with endlessly adding features and functionality to products is that at some point it no longer adds business value for the customer. And if there is no added value, executive customers will not pay a premium for incremental improvements. Thus, more bells and whistles equal higher costs and lower margins. 

Leaders can become too focused on the users they interact with and not on the business issues the company was hired to solve. They find they’re talking to people at the wrong level, taking them off track, which then begins to marginalize the business and value. 

Case:

A $100 million manufacturer produces high-quality industrial tubing that is the Rolls Royce of its market. This tubing exceeds the current industry standard for tolerance by 50 percent; the product has never failed in the field. When we met with the company’s leaders, they proudly informed us that they were working to raise the tubing’s tolerance to 100 percent above the industry standard. 

This excited customer engineers (end users of the tubing), who thought the additional tolerance would be “great to have.” Unfortunately, no customer projects or plans required anywhere near this new tolerance level. Further, executive customers knew the proposed tubing far exceeded tolerance levels that had been successful for decades, and they saw no reason to pay a premium for it. It was a classic example of over-engineering in pursuit of a better user experience. 

In the B2C world, where the consumer is the user and the decision maker, it works just fine. I’m thirsty, so I buy and drink a Diet Coke. If I like it, I do it again and again. But in the B2B world, user satisfaction does not necessarily result in customer retention or increased sales.

Geehan Group 2017
Bottom Line:

Ultimately, executive customers fund your company and decide with their dollars whether your strategy (in terms of offerings, pricing models, direction of industry, etc.) is successful. You should secure input from as many customer levels—purchasing agents, users, influencers, and decision makers—as your budget and resources allow, but always remember that it is the decision maker’s input that matters most. So, start with your executive customers.©2017 Geehan Group

 

 

 


Sean Geehan is founder and CEO of Geehan Group, National Best Selling Author of The B2B Executive Playbook and a celebrated speaker. Sean has more than 25 years’ experience successfully guiding B2B executives to sustainable, predictable, profitable growth for their organizations. To schedule Sean as a speaker, contact him at (877) 226-1621 or visit www.geehangroup.com.

Looking for more on how to be successful in your B2B business? Download Sean Geehan’s free article “B2B: A Different Game.”  Click here 

 

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Avoiding the Pitfalls to B2B Success: First in a four-part series

(c) Geehan Group

In my B2B Executive Playbook, I take my readers through the four steps that can simplify strategic planning, focus product development and sales and marketing efforts, and most importantly, create a clear path to market leadership. In this four-part series, Avoiding the Pitfalls to B2B Success, I review the common pitfalls that challenge B2B firms. Be aware of them and act quickly if they surface in your company.

Pitfall #1
Inside-Only Thinking

The first pitfall is a mindset among the leadership team that goes something like this: “Hey, we’re smart and we’ve been in this industry for many years. Let’s brainstorm among ourselves and come up with the next great solution we can bring to market to change the game and win back our leadership position.” The leadership teams of B2B companies do indeed have deep stores of knowledge and creativity, but when they choose to go it alone, what they are really saying is, “We know better than our customers what they want and need.”

And this is a prescription for failure.

Far too often, the inside-only ideas and solutions that come out of these sessions are not created with current market conditions or even company resources, business models, and competencies in mind. In fact, they are usually based on legacy customer needs, current competitor offerings, or misguided ideas about a problem that may not even exist in the customer’s mind. This insular approach significantly contributes to the 60-70 percent product failure rate that continues to plague companies.

Case:

The leaders of a $1 billion company invested more than $100 million in developing a single solution they were convinced would revolutionize their market. They did this without asking a single customer to validate the idea. The result was a disaster. Virtually no customers wanted the solution because it couldn’t be integrated with their existing operations, and the few who did buy, demanded to return it for a full refund, plus damages. The stock tumbled, the leadership team was fired, and the company was sold off at a major discount to a company one-fifth its size.

Bottom Line:

Successful B2B companies systemically include their top customers in the development process. At Henny Penny, for example, all innovation and planning initiatives begin with the needs of customers and the market. “This is the backbone of our culture, strategic planning, and success,” explains President and CEO, Rob Connelly. With so many strategic and development alternatives to choose from, you must tap your top customers to prioritize, justify, and focus on those options that will deliver the most impact. Leveraging their industry knowledge through “outside-inside” thinking is the best way to secure market alignment and achieve profitable growth over the long-term.©2017 Geehan Group

Read the other articles in this series:

Pitfall #2: Limiting Input to End Users

Pitfall #3: Following a Single Customer

Pitfall #4: Chasing the Competition

 

 


Looking for more on how to be successful in your B2B business? Download Sean Geehan’s free articleB2B: A Different Game.”  Click here 

 

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B2B Strategy Case Files: What If Both B2B and B2C?

When we wrote The B2B Executive Playbook, I had every hope it would forever change the hearts of minds of B2B enterprise.  Recently, however, my colleague and B2B strategy guru @seangeehan received the following email from “Still B2Cing," so I guess our work is not completely done.

 

Oh yes, we’ve seen this situation many times, and it is particularly pernicious as the challenge lies on two fronts:

  1. The overall enterprise has both B2B and B2C markets, such as a manufacturer who sells both direct to consumer and through a distribution network, as well as a massive organization like GE.  No one could possibly believe the executive who runs the GE lightbulb division has the same approach to growth and profitability as GE Aircraft. Unless the ELT understands the differences, most often we see the executives with the flashier high-profile B2C resumes take charge, and it is most often a disaster for the B2B side of the business. Hybrid organizations such as these are the most difficult to manage and grow unless you have the right playbook in place for the each side of the business.

  2. Ex-P&Gers who won't or can't adapt (or insert here alumni from most consumer packaged good companies). These proven, smart folks tend to struggle in their transition to most non-CPG companies, but especially when they move to B2B.  Most of them stick to what they know, apply the same go-to-market methodology/formula, and expect similar results.

The most common example of hybrids are financial institutions who have both consumer and commercial segments.  Because the hybrid situation is so prevalent there, we showcase Wells Fargo in The B2B Executive Playbook and how they address their hybrid organization, particularly the B2B side.  They have adapted specific B2B practices to address the commercial side of their business. Very smart.

Other industries that commonly have both B2B and B2C markets and offerings include hotel and hospitality, as well as computer and technology (Microsoft, Symantec, Dell).  Let’s take Dell for example. After successfully making B2C history selling PCs to consumers, as a growth strategy Dell began acquiring B2B firms (middleware, integrators, etc.) and building solutions for B2B customers (e.g., mainframes).  However, they did not change their go-to-market strategy and approached CIOs fairly similar to how they marketed to college students.  It didn’t work, and eventually Dell went private after stock tumbled. Our company, along with Dell’s biggest corporate customers, tried very hard to get them to understand that a different approach was needed. The CMO didn’t agree (ex-major CPG executive) despite our very “dynamic” conversations.  Suffice it to say, that CMO is no longer there, which is the unfortunate outcome we have seen for so many talented B2C executives. 

Facing similar challenges, both IBM and GE have all but left the B2C world, and one reason is they found it difficult to do both successfully for mostly the same reasons as other B2B/B2C hybrids.  Either you invest to execute different strategies, or you focus on one. There really isn’t a “one size fits all” solution.

Sean points to another notable example, Cisco. The B2B stalwart tried to get into the B2C market and failed miserably: $4-6B write down and complete shed or shut down of most of their B2C business. 

Sean focuses pretty hard on the topic of differing strategies for the two worlds in chapter two of his book.  The picture below provides a great reference point for where the approach differs between B2B v. B2C, and it primarily lies in go-to-market strategy: marketing, sales, and the biggest buzz-word today, innovation (R&D).

The one key element missing in this picture is service.  Service delivery may overlap or not, depending on industry and model.  The important point is you have to realize there may be key differences which need to be identified and addressed.  For more advice from Sean about this and other B2B strategies, check out his B2B Customer Strategies blog.

So take heart, Still B2Cing, there is hope!  Experience has taught us that if you can convince B2Cers they have landed in a different world AND they are curious and willing enough to learn and adapt to their environment, the path to sustainable, predictable, profitable growth (SPPG) becomes quite clear and straight-forward to navigate.  The missing link is found!

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Don't Let the Name Fool You: 6sense is Based in Math, Patented, and Grounded in Worldly Advice from Customers and Peers

According to 6sense CEO Amanda Kahlow, "Predicting buyers and the products they're interested in isn't magic—it's math. …And lots of behavioral, intent-related data."1 

The 6sense math is paying off for its customers. Shortly after a first round of funding in 2014, the company reported that one of its customers closed $300 million in new business as a result of the 6sense method. More recently, 6sense announced Netsuite has seen an 8x lift in conversions and $25 million in pipeline created since June of 2015, and Dell has witnessed a 2x increase in average opportunity size. Quoting Dell's Marketing Innovation Strategist, Enterprise Demand Generation Jeff Siegel, the Dell team likes to say, “If it's not 6sense, it's nonsense."3

The 6sense math is also paying off for 6sense. In July 2016, the company announced "breakthrough momentum with 4x annual recurring revenue (ARR) growth from this time last year and zero customer churn." (and their Customer Success team is still forming!)  Some of their other customers include ADP, Cisco, Cohesity, Dropbox, GE, HP, IBM, NetApp, Salesforce, and Xactly. Salesforce is also an investor, along with other lead investors Bain Capital, Battery Ventures, and Venrock. To date, over $36M has been invested.4  No hocus pocus indeed.

Born out of a consulting project with CISCO, Kahlow formed 6sense when she experienced an "Aha!" moment during a team meeting. Less than 10 years later, Kahlow continues to propel the company forward with two key moves which caught my attention.

First, to help secure and fuel future growth, 6sense shrewdly patented its method. Crediting Kahlow as the inventor, the USPTO patent covers a “machine implemented system and method of predicting future sales, leads and opportunities based on static data and/or intent buying behavioral data by connecting data from one or multiple sources.“ 

That's a mouthful. More simply put, the 6sense “network of intent data” looks at activity on thousands of B2B publisher sites, directories, blogs, communities, and forums, and combines that data with 6sense customer activity (weblogs, CRM, and marketing automation) as well as descriptive attribute data about the customer's products to make predictions about buyers. The real power of their method, according to Kahlow, is the descriptive information provided to their customers about what buyers want and where they are in their particular buying cycle, which is richer and more directional than a simple scoring of leads already in the funnel. By 6sense estimates, between 60% and 90% of B2B purchasing decisions happen before a customer makes it into a company’s sales and marketing systems. “That is, before that customer raises their hand and asks to be called."2 Those are the informed, motivated, and funded buyers 6sense finds for its customers.

According to the company press release, the patent "validates 6sense's unique formula and market leadership." So does the aforementioned results.

But what really caught my attention is the company's B2B Executive Playbook move to form a Customer Advisory Board (CAB). We have seen many companies like 6sense, whose founders lead the company to impressive growth (and several rounds of funding), lull themselves into complacency (and stagnating growth) with inside-only thinkingthe mindset that the collective brainpower of the internal team is the only store of knowledge and creativity needed for innovation and strategyUnderstandably, it is easy to rely only on the brilliance of the team who's got you there so far. Why change the formula? 

Unfortunately, inside-only thinking produces insular ideas and solutions which are not rooted in customer or market needs, especially as the leadership and product development teams get farther and farther away from direct interaction with customers, and more importantly, decision makers. They simply lose touch, and this thinking in a vacuum approach "contributes to the 60-70 percent product failure rate that continues to plague companies."5

6sense looks to avoid this pitfall with its CAB. Chartered to formalize the process to align product development with customer needs, Chief Strategy Officer Mark Dye, says their CAB allows 6sense to continue to innovate their platform and roadmap alongside the business goals of their most engaged customers.Taking customer engagement one step further, 6sense timed the launch of their CAB in conjuction with their recent Predictive Intelligence Summit, B2B ESP. With speakers from CISCO, Dell, and Forrester B2B sales and marketing industry analyst @lauraramos, 6sense seems to understand that the best results come from the thinking both inside and outside themselves. As CEO Kahlow notes, "We are thrilled to be working with some of the brightest and most innovative minds in B2B marketing and sales."With this approach coming straight from the top, I have a feeling she will keep this extended 6sense team on the path to sustainable, predictable, profitable growth.5

To my favorite skeptic's delight, I found a greeting card which proclaims, "Magic is everywhere, if you don't understand science."  Although I still like to believe in a little magic, I certainly appreciate when we can use math and science to create a sense of awe. Kahlow perhaps says it best, “The universe is a really incredible place if you put it to good use.”7 

That she is.

 

Resources.  Here are just some of the great resources I found to learn about 6sense:

1  http://www.fiercecmo.com/story/6sense-launches-tool-designed-pinpoint-b2b-buyer-intent/2014-08-06

2  https://techcrunch.com/2014/05/19/6sense-a-predictive-sales-intelligence-tool-exits-stealth-with-12m-led-by-battery-venrock/

http://www.prnewswire.com/news-releases/6sense-announces-4x-growth-in-annual-recurring-revenue-300304671.html

4  https://www.crunchbase.com/organization/6sense

5  http://www.geehangroup.com/featured-publications

6  http://www.prnewswire.com/news-releases/6sense-establishes-customer-advisory-board-to-drive-customer-centric-innovation-300307442.html?tc=eml_cleartime

http://venturebeat.com/2014/05/29/hard-knock-life-for-this-family-led-to-3-ceos-4-startups/

 

 

 

 

 

 

 

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B2B Marketing's Huge Opportunity to Drive Profitable Growth

Marketers often times find it easier to apply the trusted tenets of B2C marketing to B2B selling. Unfortunatley, they then end up with disastrous results because of B2B marketing’s more complex and lengthier buying cycle. While some basic rules apply, B2B marketing is quite different and needs different tactics. It demands marketing involvement for a longer time, and with more specificity.

What else makes B2B marketing different? What should marketers change to get more results from B2B campaigns? How can a B2B marketer connect with customers and leverage innovation to drive business growth?

Join this free webinar sponsored by Regalix for a chance to engage directly with Geehan, as well as other marketing professionals. Don’t miss this insightful discussion on:

  • Unraveling the differences between B2B and B2C
  • Increasing marketing’s credibility with the Leadership team
  • Aligning strategies to market needs
  • Engaging & leveraging your most valuable customers
  • Achieving sustainable, predictable and profitable growth

All registrants will receive an abstract from Sean's National Best Seller, The B2B Executive Playbook.

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Learning to Drive B2B Profitable Growth at Ariba Live

Business strategy books fill bookstore shelves, but none draw attention to the unique ways in which B2B organizations need to strategize and run differently than B2C companies in order to achieve true sustainable, predictable, and profitable growth.

Please join me at Ariba Live In my feature break out session, where I will identify those unique differences and demonstrating how B2B companies need to apply B2B strategies with proven approaches. Everyone attending this session will receive a signed copy of The B2B Executive Playbook.

Don't miss this amazing event where you’ll learn to optimize the connectivity and analytics made possible by business networks and the Cloud, gaining essential insights that empower you to transform business commerce. This event includes informative breakout sessions, dynamic keynotes, and engaging networking opportunities, where you'll learn how to buy better, sell more, and manage cash more efficiently.

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Branding and Positioning in the B2B World

One of the biggest differences between B2B and B2C is branding or positioning your company.  Many extremely successful marketing leaders in B2C have a difficult time making the much needed adjustments to be successful.  In my book, The B2B Executive Playbook, I referred to Michael Jordan’s dominance in basketball and being labeled “World’s Greatest Athlete.”  But, the world’s greatest athlete failed miserably when he tried professional baseball.

He may still be the greatest athlete, but he needed to apply his skills much differently to be successful in baseball.  What he also lacked was experience in baseball.  I’ve witnessed dozens of successful B2C marketing executives who have been met with the same results as Jordan did when they crossed over to B2B marketing. 

Commonly, I run into high-profile executives much like the one I worked with who came over from a major soft drink company.  He is a great individual.  He amassed all kinds of accolades and had great success at his former company as a brand leader of its flagship product. His honors included national advertising and marketing awards as well as several industry awards.  The financials were incredible too…market share gains, profitable growth, etc.  Then he jumped to a B2B and became the CMO in an industry which he had no experience.  The CEO was so excited to land him and even made him over product development as well.  He applied the B2C formula that made him a huge success at his old company.

Well, his new company had about 10,000 customers, but their top 50 customers were 50% and the top 200 were around 75% of the revenue of this $5 billion company.   He didn’t fully understand the impact of this and violated nearly every B2B success principle outlined in the book.  Most of what he did was in the name of branding, (new look, logo, tagline, positioning, etc.).  He committed millions to what made him wildly successful at his B2C Company…updated look and feel of logo, tagline, entertainment/event sponsorship and a broad ad campaign. 

The results were brutal:  sales went down, market share slid, margins tumbled, and because he also oversaw and shifted R&D dollars to marketing, their product started falling behind because they weren’t reinvesting like the competition.  In addition, many of their top customers were leaving them, signing exclusive long-term deals with the competition…never to return.  The only thing that collapsed more than the financial results during his tenure was the company morale. 

That CMO lasted three years. He has been gone for about three years now, and they still haven’t recovered from the damage that the B2C approaches caused to this great B2B Company.  It was like wearing a basketball uniform to a football game.  It was ugly. 

While there is no universal agreement on the definition of brand, the core is simply how the market views your company - your reputation.  It includes aspects like what your firm is known for, where the market believes you have value or have credibility, and your company’s personality and culture.

In the B2C world, the brand position is achieved much differently.  Let’s take the world’s most valuable brand, Coke.  I drink more Diet Cokes than I do anything else.  I have it stocked in my home fridge, in my work fridge and order it every lunch, etc…

The image of the Coke brand, for me as the customer, is contained to the advertising, the package design, others’ perceptions and my experience.  Think about it. Even if the package is damaged, in my head I assume my local grocer dropped it while putting it out on the shelf.  If it tastes bad when I order it at a restaurant, I put it on the restaurant for not have the right mix (syrup and water).  I actually do not know a single person who works for Coke! My touch points and interactions with Coke, as well as all my other brand goods, are similar to this (Crest, Nike, Sony, Tommy Bahama).

All of these B2C companies invest millions into understanding the various personas, segments, demographics, geographical nuances, etc. to determine how to position and manage these brands.  The same is true about all respected B2C CPG (Consumer Packaged Goods) brands.

There are two additional elements in the other major B2C category: Retailers.  For  retailers such as Starbucks, Disney, McDonalds, Target and others, the brand is also impacted by the store (look, experience, etc.) and the people (knowledge, culture, interactions, etc.).

In the B2B world, the brand position is also established with all of the above-mentioned brand-building components.  The difference, however, is the priority and weighting these elements are assigned, as well as the impact that a very few customers can have.  And while it’s only one element, that impact can be the difference between Branding Nirvana and losing your job (CMOs have the shortest tenure of all C-level positions and functions). 

Why are the customers more important in branding a B2B?

Because in the B2B world, the people you are selling to are industry veterans and most are also subject matter experts.  Simply put, they are living what you are selling.  They live and breathe in the industry you are supplying.  When GE Aviation sells jet engines to Boeing, the people that are evaluating and making the decision are engineers that have been in the Aviation industry for 15-25 years on average.  When Harris Broadcast sells content distribution solutions to Disney, the people evaluating and making the decisions are have 15-10+ years in the media industry.  The expertise, level of complexity, layers of customer contacts and overall sophistication of the prospect is exponentially different.    

In the B2C world, in a blind taste, 90% of the population can’t tell a $10 bottle of wine from a $100 bottle.  Nor can they tell the difference from free tap water and a $5 bottled water of Fiji.   But a sophisticated and highly emotional marketing and branding program can yield premium dollars for something which the buyer honestly can’t tell the difference. 

In the B2B world, it’s just the opposite.  While they may not know your specific offering, they usually know their industry better than those who supply it and how they will uniquely apply your product, solution or service.  They will scrutinize, compare, benchmark, test, and go to third parties and associations for references and validation. 

Think about the CIO who has worked in the financial services industry for 22 years. If you have IT solutions to serve this market, your company better know his needs, priorities, his environment and requirements…and most of all, you better have peers (fellow CIOs) he can talk to about working with your firm.  If you don’t have this, a well-designed logo, powerful tagline, slick campaign, elaborate brochure or PPT presentation will not overcome the lack of credibility to support a premium position.  Too much is at risk in his world: security of the bank assets, privacy issues, government compliance, the customer experience and the CIO’s reputation and career.   In fact, in a recent meeting, CIOs rated peer input as the #1 credible and trusted source for supplier selection.

In the B2B world, the most effective way to build or reposition a strong credible brand is through your current customers.  It’s how they describe their experience working with your company; it’s what they say you successfully delivered to them (or fell short of).  And the higher level they are, they more impact they will have.

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Top 3 B2B Marketing Challenges from 2012

The end of the year always sparks a time of reflection, while the beginning of the year represents a new journey. The three articles below are my top picks for Marketing's biggest challenges faced in 2012 and a playbook that contains the best strategy to face these issues while providing the biggest opportunities for all B2B CMO's in 2013. 

Marketing’s Broken Foundation Measurement

Data is the foundation for analytics. Analytics is the foundation for marketing driven by data and insights.

Think Like a CFO to Gain C-Suite Credibility

Information technology is about driving business results through revenue growth, leveraging economies of scale, and optimizing business decisions through analytics.

Have we Lost the C Suite by Measuring the Wrong Things?

If the latest surveys are to be believed, B2B marketing is on the verge of a “crisis of confidence” within the C suite.

The B2B Executive Playbook

The B2B Executive Playbook describes four steps that can simplify strategic planning, focus product development and sales and marketing efforts, and, most importantly, create a clear path to market leadership.  When implemented properly, it will also add sustainability and predictability to a B2B company’s top and bottom lines. 

 

 

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