In an era marked by economic uncertainty, technology marketing leaders find themselves at a crossroads, struggling with challenges brought on by slow growth and heightened procurement scrutiny. I for one have certainly had more conversations with procurement teams in the last year than ever before – a sign of the pressure on marketing teams to cut costs, improve efficiencies and deliver ROI. Today, the CRO is more present than ever before.
But the fundamental challenge for marketers remains, with the wider business unable to decide between convincing out-of-market buyers to purchase instantly or focusing their activity on the 5% in market that are ready to buy. Often, by the time a decision has been made it’s too late to implement either strategy successfully.
Marketing leaders must invest their time and energy in educating the wider business on B2B marketing dynamics. While almost every marketing leader I speak to knows this, it does seem to be a challenge for them to effectively articulate their strategy to their business, and more importantly, keep their teams on track. To combat this, the strategic marketing plan needs to be elevated into a few pages, and – just like any good business plan, it should demonstrate a three-year vision and the yearly goals and priorities that can help achieve it. It's crucial marketing leaders champion the true value and necessity of sticking to a strategy that is balanced to cover all audiences and the buyer journey.