3 focal points for B2B marketers in 2022

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B2B marketers target the needs and challenges of individuals who make purchases on behalf of an organization, which means that any B2B buying decision can carry organizational risks for buyers. In such a critical position, trust then becomes a key factor in decision making. other plans such as business strategy to prepare for the challenges ahead.

In the Forrester study “Planning Assumptions 2022: B2B Marketing“, B2B marketers are advised to gain the trust of buyers through meaningful action. Although becoming a trusted partner is a goal expressed by companies across all industries, organizations still struggle to understand how trust is created, when it matters, and its components, according to the study.

Additionally, marketers and B2B brands sometimes overestimate the level of trust their customers place in them, so trust is often relegated to a slogan or slogan, or dismissed as only important in a B2C framework.

The study highlights that B2B buyers have a lot more at stake when making a purchasing decision on behalf of their business. They must take into account the company’s risk tolerance and their own professional interests. Additionally, B2B buyers often seek to establish a relationship with a partner that gives them strong confidence that their future actions will yield positive results.

“True mutual understanding and direct communication is what is important to build long-term trust. Mutual trust can be easily established if we truly understand their business needs and take action. While the business outcome does not always lead to desirable efforts, it does ensure that our partners always cherish our efforts, ”said Wilson Wong, Marketing Director of Price.com.hk.

Currently, Price.com.hk has more than 10,000 local retailers and strives to provide them with different solutions to do more retail, while the company always aligns common goals with merchants and partners for each project at very early to avoid waste. Resources.

“Build-Measure-Learn (BML) is still our business planning approach to making and optimizing decisions. It is never easy to formulate a perfect strategy to achieve the end goal, so we have to keep trying. By applying BML, we build and measure each trial to learn quickly. With this aligned planning approach, we look forward to taking quick action and new campaigns with continuous optimization to achieve business goals, ”he said.

Facing uncertain economies

In the study, B2B marketing managers are also advised to consider more the perspective of buyers and how they assess the risks and benefits involved in a buying decision. Additionally, they must recognize that many organizations and industries have established risk cultures with standards for how errors are handled and how risk and innovation are rewarded or discouraged.

Several aspects are the constituents of trust, according to Forrester, such as responsibility, competence, consistency, reliability, empathy, integrity and transparency. These elements that B2B CMOs can take into account when working with clients.

According to Tonmoy Kundu, Vice President, Asia Pacific Sales and Marketing Manager, Research Microscopy Solutions at Zeiss Group, trust has become a crucial factor when it comes to operating in today’s uncertain environment. ‘hui.

“Every business seeks to survive and thrive in this uncertainty and especially in the B2B space, customers need partners they can trust to ensure that their return on investments made during this time bears fruit. “, did he declare. Kundu added that in general, with any financial downturn, B2B communities and customers become more risk averse, making trust even more paramount.

For Zeiss Group, trust is built in two fundamental ways. The first is to become obsessed with the customer. From pre-sales to after-sales, the relationship that a company builds with a customer, especially after a sale is closed, ensures a long-term relationship. Meanwhile, Zeiss is also focusing on product innovation where new products are launched and created in tandem with the needs of its customers. This then leads to fostering greater trust and a stronger partnership.

The second factor in building trust is a consistent and credible brand reputation. Kundu added that Zeiss is now a 175-year-old company with a rich history, which means customers have a certain level of confidence in the company.

Karen Yew, Group Communications and Brand Manager, Surbana Jurong Group, added, “COVID-19 has changed, in many ways, the way we do business. On the one hand, building trusting relationships is more difficult virtually than in person. More than ever. , our direct-to-customer teams are consciously spending time listening to and understanding the needs of our customers, all of whom are facing the changing circumstances brought on by the pandemic. ”

“Ultimately, our marketing efforts are built on our ability to challenge standards and deliver innovative and adaptive solutions. This is reflected in our conversations with our customers, partners and everyone we serve,” he said. -she adds.

Better internal collaboration

Marketers also need to cooperate better with other departments in a company, according to the study. A previous study “Forrester’s 2021 Global Marketing Survey” asked senior marketing decision makers what is needed most to support marketing priorities. The highest response, at 35%, was “improved alignment of marketing with other functions”. and product function plans.

Finally, B2B marketing managers need to improve collaboration and activate resources beyond traditional silos.

To ensure clarity across hierarchies and functional boundaries, B2B marketing managers must identify points of collaboration and locking. They are advised to audit the existing means and install mechanisms to connect the functional experts to the most efficient and impactful means of operation. In addition, they must improve the soft skills that promote collaboration between fields. These mechanisms can take different forms, from shared services and centers of excellence to cross-functional modules or networked teams.

When asked how Zeiss Group is orienting its team’s strategy and planning efforts to align with the overall company goals for 2022, Kundu explained that it’s critical that marketing teams work in tandem. with the more ambitious objectives of the company.

“We are a large global company with many different units. But our overall strategy guides us like a north star that every business unit aligns with. This is then filtered to individual teams to ensure an omnichannel experience for our customers, ”he added.

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