the b2b agenda
DESCRIPTION
Find out what 72 forward-looking CMOs and 30 academic B2B thought-leaders have to say about your ever-changing industry landscape. From commoditization and globalization to new rivals and buying behaviors, this presentation from Ralph Oliva, Executive Director of Penn State's Institute for the Study of Business Markets (ISBM) explores your greatest challenges and opportunities up ahead. This presentation was delivered to the attendees of Godfrey's FWD:B2B conference on November 7th, 2013.TRANSCRIPT
“The B2B Agenda ”Ralph Oliva
November 7, 2013
2© 2013, ISBM-Penn State
The B2B Agenda:
Working to Build
Forward-Looking Insight
for B2B Marketers
A Work-in-Process Update: Godfrey FWD:B2B Conference…
11-4-13
ISBM Research Update 11/2013
3© 2013, ISBM-Penn State
ISBM Overview
Since 1983...Since 1983...
…A global network of leading edge researchers and
practitioners. All B2B. Headquarters at Penn State
OUR MISSION: Expand research and teaching in Business-to-Business
marketing and sales in academia…
Improve the practice of Business-to-Business marketing and sales for member firms in industry…
Moving into 30 Years: Research, Practice, Progress… Moving into 30 Years: Research, Practice, Progress…
9-12-13
200 B2B Researchers in Universities Worldwide
72 B2B Member Firms, 4500 Marketers
• Research Insight/Direct Coaching
• B2B Analytic Tools
• Courses/Professional Development
• Networking/Interchange
• Connection with MBA Students
• More…
B2B Leadership BoardB2B Leadership Board
Aspirational Model
Aspirational Model
The B2B Agenda:
• The Key Challenges We Face
• The Capabilities We Must Build
… ISBM Research Direction
The B2B Agenda:
• The Key Challenges We Face
• The Capabilities We Must Build
… ISBM Research Direction
Fred Wiersema, Chair, ISBM B2B Leadership
Board
Gary Lilien, Research Director,
ISBM
Handbook of Business-to-Business Marketing
Reference Resource for B2B Researchers
Handbook of Business-to-Business Marketing
Reference Resource for B2B Researchers
Raj Grewal, Associate
Research Director, ISBM
5Both Available on AmazonBoth Available on Amazon
6© 2013, ISBM-Penn State
Setting the Agenda:Focused, Major Research Initiatives
The B2B Agenda: A major initiative of the ISBM B2B Leadership Board
• Multi-round inquiry with 30 leading B2B researchers • Insights from 12 top marketing execs, ISBM CMO roundtable• Interviews with 63 senior B2B executives from 52 firms. • Using content analysis to extract key findings
Our goal: probe for fresh angles, dig deeper
© 2013, ISBM - Penn State
TM
The Key Trends and Challenges (Re)Shaping B2B -- 2012-2014
Four Key Trends:
1. Rising expectations of marketing
2. Companies’ journeys to build market focus
3. Marketing’s evolving role and impact
4. Global markets’ growth and demands
Seven Major Challenges:
1. Marketing’s interfaces
2. Granular customer knowledge
3. Evolving technology
4. Marketing’s performance
5. Central/DeCentral?
6. Deeper engagement
7. Talent
7
© 2013, ISBM - Penn State
TM
Four Key Trends That Are (Re)Shaping Business Marketing
1. Higher stakes and higher expectations for B2B marketing
Mounting challenges and opportunities in 49% of companies
2. B2B firms are going through major transformations to get better aligned with marketplace realities
52% of firms embarked on a major journey, or are about to
3. B2B marketing’s role is evolving; getting more and more strategic
54% of execs talk about (re)defining its role and responsibilities
· Global markets represent big potential -- and new demands
1. New / emerging growth markets are key concern in 35% of firms
8
© 2013, ISBM - Penn State
TM
The Top-Two Challenges forBusiness Marketers -- 2012-2014
1. Build stronger interfaces between marketing and other functions
The single-most important lever for B2B marketing to impact business performance (esp. CMOs* view it as the top issue)
Particularly the marketing / sales interface (noted in 49% of firms)
… and the marketing / innovation interface (noted in 39% of firms)
2. Extract and leverage granular customer and market knowledge
Essential for fueling commercial excellence and customer growth
Key messages: get deeper; explore new territory; and ensure insights are acted on in the most productive manner
(*) 85% of CMOs addressed it and 45% of all their comments related to marketing’s interfaces
(** 9
© 2013, ISBM - Penn State
TM
Five Other Major Challenges forBusiness Marketers -- 2012-2014
3. Be alert to technology’s potential to disrupt marketing/sales.
Social media, marketing/sales automation, the cloud and big data are altering buying behaviors and upsetting business models.
4. Demonstrate marketing’s contributions to business performance.
Recurring theme, calls for a stronger marketing-finance interface.
5. Find the right mix of centralized vs decentralized activities in marketing, esp. in multi-SBU and global settings.
6. Engage more deeply with customers and customers’ customers.
7. Find and develop marketing talent and competencies.
the B2B marketing talent pool is limited; the challenges aren’t.10
11© 2013, ISBM-Penn State
Three Points of Research Focus - 7/2013
1. The Innovation - Marketing Interface…
2. Organizational Buying Behavior: Managing
the Supplier/Customer Experience-B2B
3. B2B Data Analytics Research and Learning
Community/Research Center
04/08/23
Three Key Themes:
1. Culture, Customers and Capabilities
2. Ideation: Tapping Customers and Non-Experts
3. The Interface Between Marketing and Sales
13© 2013, ISBM-Penn State
‘Taking B2B Innovation Beyond the Lab’
Theme 1: Culture, Customers, Capabilities
13
Culture trumps everything (G.J. Tellis, USC)
Innovation is the critical driver for growth. Market leaders often fail at their peak (the ‘incumbents’ curse’) but some go from strength to strength: what’s different is culture. Identified traits/practices creating cultural conditions for success; diagnostic tools.
Beware of tyranny of powerful customers (R. Chandy, LBS)
“Current customers, especially the big ones, have the greatest stakes in the status quo.”
“Most big shifts happen in the periphery, first as weak signals, often dismissed initially.”
B2B customer solutions have big potential (Bharadwaj, etc)
What capabilities are required (eg., organizationally, culturally, marketing/sales-wise).
How do we measure performance of solutions, and the impact of both internal and external factors?
Dr. Gerry Tellis, USC
ISBM Fellow
Dr. Gerry Tellis, USC
ISBM Fellow
Beth ComstockAugust 23, 2005
Marketing as an Engine for Growth
Reward success and failure. Punish inaction.Reward success and failure. Punish inaction.
Beth Comstock, CMO, GEBeth Comstock, CMO, GE
© 2013, ISBM-Penn State26
Abbie Griffin: Author: "Serial Innovators"
Dr. Abbie Griffin, University of Utah,
ISBM Fellow Creator “Voice of the Customer
”
28© 2013, ISBM-Penn State
Three Points of Research Focus - 9/2013
1. The Innovation - Marketing Interface…
Rollout of Innovation/Culture Diagnostic, Foster Focused Research in Selected Areas, On going "Curation" of outcomes/insights /actions/frames for thinking
2. Organizational Buying Behavior: Managing the Supplier/Customer Experience-B2B
3. B2B Data Analytics Research and Learning Community/Research Center
ISBM Winter Meeting – February 19-20, 2014:Renaissance Airport Hotel, Orlando, Florida
Answering a Key Challenge for Today's B2B Marketer: >>Navigation of Rapidly Changing Organizational Buying Behavior:
Driving Growth Through B2B Customer Experience Management
Thought leaders, researchers, and practitioners provide insight on how to better manage the total B2B customer experience, and today's rapidly changing organizational buying behaviors, processes, and influences…
Please Accept Our Invitation!
29Soliciting Your Inputs/Speaker Suggestions!
Featuring Lou Carbone, Experience Engineering
Gregg Lederman, Author, "Engaged!"
Erik Long, ZS
Reza Soudacar
29
30© 2013, ISBM-Penn State
Three Points of Research Focus - 9/2013
1. The Innovation - Marketing Interface…
Rollout of Innovation/Culture Diagnostic, Foster Focused Research in Selected Areas, On going "Curation" of outcomes/insights /actions/frames for thinking
2. Organizational Buying Behavior: Managing the Supplier/Customer Experience-B2B
3. B2B Data Analytics Research and Learning Community/Research Center
31© 2013, ISBM-Penn State
Where we are now: B2B Data Analytics Thrust…
Investigation to gain further definition of the type/areas
of analytics in B2B marketing that are most
promising/pressing. Early discussion with SAP and
other early partners shaping the agenda.
Investigation of potential alliance partners: INFORMS,
MIT, Emory, Cisco, IBM, others
Strategy in development for first actions 2Q 2014…
Center for B2B Data AnalyticsCenter for B2B Data Analytics
32© 2013, ISBM-Penn State
Three Points of Research Focus - 11/2013
1. The Innovation - Marketing Interface…
2. Organizational Buying Behavior:
Managing the Supplier/Customer
Experience - B2B
3. B2B Data Analytics Research and
Learning Community/Research Center
33© 2013, ISBM-Penn State
Thoughts/Questions…
Can you see the direct line between your practice and the organic growth processes in your firm?
How about Marketing and Innovation?
Are we developing approaches to better navigate today's rapidly changing Organizational Buying Behavior?
Can we step up to the challenge of unlocking insight from different sorts of audience, investigations, processes and data than we typically collect in B2B markets?