The Generations of B2B Marketing.

Through our work with media startups and scaleups at our venture builder, VIDA, we have analysed and identified the defining characteristics of Next-Generation media brands.

So to deliver on the ambition of our B2B clients at VOLUME to do things differently and better than traditional B2B marketing, we asked ourselves, what are the defining characteristics of next-gen B2B marketing?

To look forward, we first had to look back at the previous generations of B2B marketing.

Starting with the PR / corporate comms generation through CRM, digital content and experience, each era has built on the past, adapting as client behaviour and technology evolves.

Of course many activities from previous generations remain popular; the old white paper for data capture springs to mind, or the rising popularity of Account Based Marketing (ABM) which is in effect a rejuvenation of the tried and tested key account management, albeit assisted, enabled and made accessible to many, by tech.

Our view is that taking a next-generation approach builds on the best of what’s gone before, with tech as an enabler, but not the value creator.

And being ‘next-gen’ requires us to address both emotional and functional motivations, applied across the whole customer journey.

A couple of recent B2B marketing studies confirm this.

In 2018 in The B2B Elements of Value, Bain and Co defines 5 levels of value creation for B2B buyers, from the bottom level “Table Stakes” including price, spec, regulatory compliance and ethical standards, through to the highest level ‘Inspirational Value’ including Vision, Hope and Social responsibility.

Each level has a role to play in buyer preference and decision-making but their research found higher advocacy and loyalty scores for brands that excel at multiple levels, and especially the higher value emotional and motivational elements, rather than the functional, rational table-stakes.

And in 2019, research from Binet and Field focused on the importance of brand building in B2B marketing saying:

 “Brands need a creative storytelling element because it is not enough to rely solely on rational product messaging. There has to be clear differentiation and a narrative that taps into business buyers’ emotions. Humanity must not be lost in a tech-obsessed world.”

Their research concludes that that brand building in B2B should, on average, account for 46% of marketing spend and lead generation 54%, with the former rising as the business matures.

So, for B2B marketing success, both rational and emotional motivations should be addressed, according to the different priorities and needs across the consideration and purchase journey, But ultimately, the B2B brand that is better known and understood stands a higher chance of being bought.