Unstoppable trends every B2B marketer must embrace to drive growth
Marketing Land | April 02, 2019
Global economic uncertainty is lurking in the shadows and it’s coming for all of us. This ghost lingers, but it’s not deterring B2B teams – growth is the clear charter. In boardrooms and conference rooms, teams are looking for growth levers that unlock revenue, market share and profit. Right on cue with this mindset, I’ve moved from a CMO position into a new role as Chief GrowthOfficer (CGO). This shift has forced me to step back, understand what growth means to companies and, most importantly, how to capitalize.A sweeping redefinition of growth is underway and it’s shaking up we way we market, sell and service our solutions. Growth can come in all flavors, such as new accounts, existing accounts, new markets, new product lines, market share and mergers and acquisitions. So, what are the prevailing trends and drivers of growth? And how do we change up our strategies and tactics to contribute to this mandate? Here are critical trends B2B marketers must master and navigate to solidify their growth agenda. Existing customer growth is the new ‘net new’: Companies and investors have been obsessed with creating “net new logos.” There’s no doubt that new customers are very important to the health of any company. B2B organizations are finally waking up to the importance of retaining and expanding customers because of growing economic uncertainty, competitive pressure and new business realities. Companies are seeing their base as an important built-in revenue stream and are looking for ways to become lifetime partners. Case in point, on Adobe’s latest earnings call, CEO Shantanu Narayen summed it up succinctly by affirming, “Customer retention is the new growth.” This mindset is shifting how sales and marketing operate, how they’re measured and even how they’re organized. For example, B2B marketing departments have beefed up “customer marketing” teams in the last few quarters. These teams have the responsibility to deploy strategies and tactics to identify, educate and win new business from existing accounts via cross-selling, up-sell and expansion. Sales organizations have created teams and divided them into “hunters,” who focus on net new companies, and “farmers,” who manage accounts and wake up every day looking for new opportunities within existing accounts. While not a new concept, this organizational move has accelerated.