Today’s business marketing is vying for high stake complex solutions and must be modified accordingly for each supplier to stay competitive and relevant.
When looking deeper and studying how new technology giants became untouchable, one will find that they deluge prospects with horizontally consumer-oriented marketing techniques. Their enterprise offerings utilize the same horizontal marketing strategy and rely on other suppliers to provide solutions’ differentiation needed by vertical markets so they do not have to alter their strategy.
Many business-to-business technology companies saw that success and applied the same strategy of digital bombardment rather than adding relevant insight, on customer needs, to their go-to-market tactics.
Success in vertical markets doesn’t mean abandoning horizontal digital marketing messaging as they contribute significantly to brand equity. But for reaching meaningfully vertical market prospects, the over usage of the digital highway is becoming ineffective as it becomes overcrowded and one’s vertical market messaging being lost.
Alone digital marketing tactics do not identify the needs of an enterprise, where sales and marketers have been much more insightful on prevailing internal dynamics at a target company before approaching.
In fact, one may hypothesize that the ease of digital marketing execution has spoiled a number of business marketers and handicapped their company sales personnel by relying too much on surface (light touch) data.
In larger businesses, operational dynamics are complex and it is too difficult to uncover easily prospects’ true demand potential by relying on light touch responses produced by digital marketing. Often a big factor in B2B marketing is overreliance on the prospect’s financial standings in measuring sales viability, but not sufficient in itself to indicate whether a match of business needs with one’s offerings exists.
As competition in all market sectors relentlessly increases, mounting stress on cutting business costs’ and developing successful innovation, sales and marketing teams must understand digital information limitations. More important than ever is investigative research that produces realistic insight into a prospective customer’s needs throughout the decision-making process to make timely contact.
Most prospective accounts readily admit that they lack time or skilled staff to look for the right vendor and its solutions. Often, in order to undertake steps to solve and operate more efficiently, accounts require a nudge or solicitation that meets and understands their true business operational needs.
Accounts with mild business pains and legacy technology that serves them well delay progressive decisions, and accounts with serious pains simply reach out to their incumbent technology vendors who may not be best equipped to solve their problems.
Examining the revenue growth of many technology companies, one will often find that what they identify as organic growth really comes from their current customer base, not new accounts. In that passive way both parties may lose heavily, kind of Pyrrhic victory: the best solution seller will not win the account and the account will not find the best solution.
Furthermore, many new technologies allow easier sharing of solution with another new vendor, such reliance spells oblivion. It’s critical for technology suppliers to step outside of their comfort zone and work on acquiring real time primary intelligence (insight) that maps the enterprise’ decision journey for acquiring new solution.
Despite lackluster results in winning new anchor accounts and the expected revenue growth many technology and industrial companies continue practicing digital marketing techniques because they are being easy and less costly. The result is the uncertainty of how to land a new diamond-type of business account.
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