Good morning!
I rethought this note for the back end of 2022.
First, the story:
Why should people care about B2B marketing? Thatâs where all the money is! đ” đ”
Why it matters: B2C marketing has always been the sexy part of marketing. But new data shows that B2B marketing is where it is at.
Healthcare marketers will spend $1.4B on ads in 2022.
B2B growth in Asia is estimated to be north of 12%.
Marketing trade journals have started covering B2B seriously.
How we got here: B2B marketing has been underfundedâŠfor years. In most businesses, the C-suite doesnât trust their marketing team because marketing has been positioned as:
The coloring-in department.
Too tactical.
The folks that are fun, but you donât know what their job is.
Change the conversation: B2B marketers can change their perception:
Focus on strategy: âWhere to play? How to win?â
Talk about profits: A 1% increase in price can grow profits 8%+.
Emphasize brand power: Show that the choice isnât sales v. brand, but both.
Strategically speaking: To win in B2B, executives need to:
Focus on value: Contextual differentiation is where youâll win.
Challenge the status quo: B2B doesnât have to be boring.
Marketing matters because that is where the money is. So act like it.
What Iâm doing? Each morning, I read articles that will help me be better at strategy. I make notes that I might not use ever again.
Instead of doing that and piling up notebooks full of random asides, I challenged myself to analyze one story a day. Thatâs what this is.
One story, with my analysis and actions: condensed so I force my thinking to be clearer and so that what I share can be digested in 2 minutes or so.
If you enjoy it, let me know. If you really enjoy it, share it.