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ARE TRANSFORMING
B2B MARKETING
By Phillip Andersen, Robert Archacki, Nicolas De Bellefonds, and David Ratajczak
CAPABILITIES
ting digital tools to work in these areas cloud companies can spend as much as 10%
helps generate momentum and demon- (and sometimes even more). Companies
strate value to the rest of the organization. shifting to pull marketing and embracing
More challenging is building new market- digital channels report improved results at
ing capabilities, such as digital approaches lower costs. Research by software developer
to ABM and digital media, data, and ana- HubSpot shows that the importance of digi-
lytics. Companies will also need to acquire tal channels for lead generation is rising
or develop the requisite technical skills and quickly and that costs per lead have
rethink their organizations for the digital dropped by as much as 65%.
world. (See Exhibit 3.)
How companies spend their budgets is just
Resetting The Go-To-Market as important as the amount they spend.
Strategy Digital marketing and automation are
As more customers research and buy about managing high-quality leads with a
through digital channels, marketings role multitouch experience that results in im-
expands and takes center stage: the market- proved sales efficiency and the ability to
ing function is in the best position to maxi- track performance across the purchase
mize revenue by shaping customer journeys journey. A seamless integration with
and leading them to a successful conclu- saleswith smooth handoffs and no loss
sion. This expanded role requires that com- of customer information or tracking capa-
panies rework the marketing b udget and bilityremains critical. For many compa-
spending mix, shifting more resources to- nies, making this happen may involve a
ward digital channels. Already, we are see- convergence of marketing, sales, and IT.
ing a strong migration in spending. Accord-
ing to IDC, the typical B2B c ompany spends Retooling Existing Capabilities
about 4.5% of revenue on marketing (with Digital technologies and tools can augment
about 40% going to d igital), but newer and enhance existing activities.
Develop the right marketing-tech stack, and feed it the right data to maximize results
MARKETING OPERATIONS/TECH
Build marketing operations infrastructure to support strategy and new capabilities
Brand. The focus of brand marketing can experiences can make the event more
be expanded from traditional advertising, immersive.
such as TV and print, to brand storytelling.
General Electric, for instance, has built a Moving some events online via
multichannel, multimedia campaign webinars reduces cost and expands
focused on the theme of digital industrial- theaudience.
ization, which encapsulates GEs efforts to
apply digital technologies to traditional Digital channels make it easy to funnel
products such as aircraft engines and power event-generated leads into CRM or
plants. The campaign has three objectives: marketing automation systems.
to increase awareness of what GE does; to
support the recruiting pipeline for young Content. Buyers seek advice and confirma-
engineers and business talent; and to tion from peers and people they trust.
engage a new generation of investors who Research shows that business buyers use
have grown up during the digital revolution. content from multiple sources and that
According to GEs CMO, For every $1.00 social media plays an important role in
we spend, we get back $1.25 in value when three-quarters of B2B purchases (in 82% of
we layer in social and earned media. purchases by C-level executives). Through
digital technologies, companies canand
Events. Typically, events are a B2B compa- shouldtailor multiple types of content
nys biggest marketing expenditure, often (such as white papers, blogs, case studies,
representing up to 20% of the marketing testimonials, web copy, quotes, and social
budget. Digital technologies can amplify media) to particular audiences and localize
their impact: that content by country or region. Online
video is also growing rapidly, and there is
Digital and social channels can extend increasing evidence that it can be em-
event participation to audiences outside ployed effectively in a B2B context.
the convention hall. Customer testimonials, product demos,
tutorials, and events are all potential uses.
Mobile apps can heighten convenience, To be effective, digital content must be
engagement, and personalization. coordinated across multiple digital plat-
forms, including websites and online
Integrating the offline and online advertising, organic and paid search, and
Robert Archacki is an associate director in the firms Dallas office. You may contact him by email at
archacki.robert@bcg.com.
Nicolas De Bellefonds is a partner and managing director in BCGs Paris office. You may contact him by
email at debellefonds.nicolas@bcg.com.
David Ratajczak is a partner and managing director in the firms Atlanta office. You may contact him by
email at ratajczak.david@bcg.com.
The Boston Consulting Group (BCG) is a global management consulting firm and the worlds leading advi-
sor on business strategy. We partner with clients from the private, public, and not-for-profit sectors in all
regions to identify their highest-value opportunities, address their most critical challenges, and transform
their enterprises. Our customized approach combines deep insight into the dynamics of companies and
markets with close collaboration at all levels of the client organization. This ensures that our clients
achieve sustainable competitive advantage, build more capable organizations, and secure lasting results.
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visit bcg.com.