In the evolving landscape of B2B marketing, aligning field marketing strategies with the behaviors and preferences of modern B2B buyers has become crucial. This alignment involves rethinking traditional approaches to event marketing, conferences, and trade shows to meet the expectations of today's informed and digitally-savvy buyers.
Understanding the Modern B2B Buying Process
The B2B buying process has transformed significantly over the past decade. Modern B2B buyers now spend only about 6% of their time with sales representatives during the buying process, relying heavily on digital resources and peer recommendations for their research. This shift necessitates a corresponding change in how marketers approach field marketing.
Digital and In-Person Event Integration
Chris Walker emphasizes the importance of integrating digital and in-person event strategies. While physical events like trade shows and conferences remain relevant, their role and execution need to be reevaluated. "To me, the point blank answer, B2B companies are spending a lot there. I think that people go there because they want the human element. They want to go to the parties, they want to network, they want to have three days out of the office that they get once a year because their company pays for it."
The integration of digital components into in-person events can significantly enhance their effectiveness. Virtual follow-ups, digital content distribution, and online networking opportunities can extend the reach and impact of these events beyond their physical confines. "We need to figure out how to do marketing better," Walker states, emphasizing that modern B2B marketing should blend the strengths of both digital and physical engagement.
Rethinking Trade Show Investments
One of the most critical insights from Walker is the scrutiny of trade show investments. Companies often justify expensive booths at trade shows without clear, measurable ROI. "The only reason that you would set up a booth is so that new prospects walk into it and try and learn about your product and then hopefully convert into a meeting. Otherwise, if you just wanna meet with current customers and try and expand them, you can do that in a coffee shop outside."
Instead, Walker suggests focusing on smaller, more curated events that are cost-effective and have a higher measurable impact. These could include field marketing dinners, regional conferences, and virtual webinars. The goal should be to create meaningful interactions that lead to tangible business outcomes.
Tailoring Events to Specific Goals
Field marketing events should have clearly defined objectives, whether it's creating demand, capturing intent, or expanding existing accounts. Walker advises against the one-size-fits-all approach and instead recommends tailoring events to specific business goals. "Is the goal of the event to create demand, i.e., educate buyers that are not in the market and try to move them to consideration? Is it to capture intent to get people to come to our booth, scan their lead badge and get them into the pipeline? Is it to convert pipeline to actually have a dinner with three of our top customers and three of our top late-stage prospects and have them have a dinner together in hopes of closing those three big deals?"
Leveraging Virtual Events
Virtual events, especially webinars, have emerged as highly effective tools in the B2B marketer’s arsenal. They are less expensive to produce, scalable, and can be tailored to specific audiences. "Webinars consistently work in the data that we evaluate, so some people are like, oh, just an event. These events drive lots of pipeline and revenue for companies and are relatively low cost to produce." Moreover, the content generated from webinars can be repurposed for ongoing digital marketing efforts, extending their value.
Virtual events also provide an opportunity to collect valuable data on attendee behavior and engagement. This data can be used to refine future event strategies and improve overall marketing effectiveness. By integrating virtual elements into traditional field marketing efforts, companies can create a more comprehensive and impactful marketing strategy.
Measuring Event ROI
Accurately measuring the ROI of events remains a challenge, but it's essential for justifying expenditures and refining strategies. Walker highlights the importance of setting a primary objective for each event and measuring success against that objective. For instance, user conferences focused on customer retention and expansion should be evaluated based on those outcomes, rather than trying to capture new leads.
To improve ROI measurement, companies should leverage advanced analytics and tracking tools. These tools can provide insights into attendee behavior, engagement levels, and the overall impact of the event on the sales pipeline. "We need an analytics system that looks at all the things that aren’t working and flips the paradigm completely," Walker suggests, advocating for a more data-driven approach to event evaluation.
Enhancing Customer Engagement
Customer engagement is a critical component of successful field marketing. Modern B2B buyers expect personalized and relevant interactions with brands. Field marketing events should be designed to foster meaningful connections and provide valuable experiences for attendees.
Walker emphasizes the importance of understanding customer needs and preferences. "What do our customers do right now? They use communities, they attend digital events, they use social networks a ton. They consume content in a ton of different places." By leveraging this knowledge, marketers can create events that resonate with their target audience and drive higher levels of engagement.
Interactive elements, such as live Q&A sessions, workshops, and networking opportunities, can enhance the attendee experience and encourage active participation. Personalized follow-ups and targeted content can further strengthen the relationship between the brand and the customer.
Adapting to Economic Shifts
The economic environment has a significant impact on field marketing strategies. As Walker notes, the recent paradigm shift in the economy requires transformational changes in how companies run, plan, and evaluate their go-to-market strategies. "We need to follow suit with transformational changes in how we run, plan and evaluate our go to market, not based on the incremental improvements that we've been doing for the past decade."
In times of economic uncertainty, companies must be agile and adaptable. This includes re-evaluating budgets, reallocating resources, and prioritizing high-impact marketing activities. By focusing on efficiency and effectiveness, marketers can navigate economic challenges and continue to drive business growth.
Building a Cohesive Strategy
A cohesive field marketing strategy requires alignment between marketing, sales, and finance teams. Walker points out the disconnection between these functions as a major challenge. "There's a core disconnection between the finance team and the go-to-market team that the finance team doesn't understand go-to-market enough to weigh in."
To bridge this gap, companies should foster collaboration and communication between departments. This includes aligning goals, sharing data, and working together to develop and execute marketing strategies. By building a unified approach, companies can improve overall performance and achieve better business outcomes.
Conclusion
Aligning field marketing with the modern B2B buying process requires a strategic shift from traditional, broad-based approaches to more targeted, measurable, and integrated strategies. By focusing on smaller, high-impact events, leveraging virtual platforms, and setting clear objectives, B2B marketers can better meet the needs of today's buyers and achieve a higher ROI on their marketing investments. As Chris Walker puts it, "The real solution is to fix your marketing and get new customers at an appropriate ROI, not to just move the budget to account expansion where the analytics are very cloudy."
By adopting these insights, B2B companies can ensure their field marketing efforts are not only aligned with the behaviors of modern buyers but are also driving meaningful business results. The key is to stay agile, embrace innovation, and continuously refine strategies based on data and customer feedback.
