Leverage the latest B2B marketing strategies being utilized outside of our industry to spark innovation within your destination organization’s M&C marketing.
As our industry and world continue to digitize and evolve, Destination organizations (DOs) are facing increased competition from their peers, and the need to innovate meetings and conventions marketing strategies is greater than ever.
We’ve all seen the emergence of new technologies, including industry risers like VR and AI, blockchain tech, and more sophisticated social media and digital advertising. In addition, planners and their attendees expect hyper-personalized experiences as generational shifts continue to change B2B buyer/seller dynamics.
At DE, one of our main focuses is to ensure our clients are well-positioned and competitive in the meetings marketing arena, not only utilizing the tried-and-trues of our industry, but the strategies that reflect the world around us.
Here are the latest B2B marketing trends and developments being utilized outside of our industry to help your destination stay competitive and innovate your meetings marketing.
Blockchain’s Effect on Digital Marketing
- Improved Data Security
In this digital era, businesses face the challenge of preserving customer information. With cyber-attacks happening more regularly, it is crucial to set up secure systems to protect confidential data. Blockchain technology provides a secure and decentralized way to store and manage data, making it troublesome for hackers to gain access or alter it.
- Enhanced Personalization
Blockchain tech can empower companies to build more customized marketing campaigns by allowing them to store and analyze customer data securely. This could involve details such as buying background, buyer preferences, and demographics, which could be used for hyper-targeted marketing.
- New Types of Marketing & Engagement
A good illustration of how blockchain technology can create new types of marketing and engagement is through the use of non-fungible tokens (NFTs). These are distinct digital assets that can symbolize ownership of a particular thing. Businesses and organizations could use NFTs to generate and provide special digital experiences.
Generational Shifts Affecting B2B Buyer & Seller Dynamics
- Digital & Tech Shifts
Digital and tech shifts have created an evolved buyer behavior journey. Engagement looks different. Interaction looks different. Frequent and multi-touchpoints have become expectations for digitally savvy buyers.
- Lengthier Buying Cycle
The amount of stakeholders and individuals involved in the decision-making process has led to a longer buying cycle. 75% of respondents in Forrester Consulting’s study, The Modern-Day B2B Buyer’s ‘Ideal Journey,’ agreed “the average buying cycle has increased in time over the last 24 months.”
- Decision-Making Millennials
Gen Xers statistically have the deeper pockets, but millennials are now making most B2B purchase decisions. This generation wants “tech-savvy, values-based experiences, and they want to interact with a sales team that reflects the world around them.” Ask internally, ‘how are we providing a good ROX (return on experience) for these buyers?’
- Data Trails for Personalization
Buyers leave data breadcrumbs on digital channels. They interact with websites, scour reviews, attend webinars, and shop around. As marketers and sellers, this data helps with personalization opportunities and engagement.
- Everyone is Curious. Everyone is Poking
Author Zora Neale Hurston is credited for expressing that “Research is formalized curiosity. It is poking and prying with a purpose.” Today more than ever, everyone is curious. Everyone is poking – across a range of digital channels and formats. “Marketing and sales must operate in concert, leveraging the same data to deliver the seamless, personalized, and insights-driven experiences buyer’s demand.”
Account-Based Marketing & the Customized Digital Approach
- Marketers Accelerate Their Digital Transformations
According to Salesforce State of Marketing 2022, “Ninety percent of marketers say their digital engagement strategy has changed since the pandemic began.” Account-based marketing (ABM) (‘Fishing with spears’ instead of ‘nets’) involves a unique digital marketing strategy for organizations.
- Soaring Expectations for Personalized Engagement
As mentioned above, customers expect personalized engagement in the B2B buying journey, but managing it is only becoming more difficult. “Marketers expect a 40% increase in the number of data sources they use between 2021 and 2022.”
- New Line Item: The Spear
Allocating limited resources to evolving customer expectations continues to be challenging for B2B marketers. “Advertising, technology, content, and events all consume similar portions of marketing budgets, along with the costs associated with wages and training. . . . The added imperative of ABM programs adds another line item.”
What Does the Future Hold for Destination Organizations?
As technology continues to evolve, so too will the approaches of B2B marketing. By understanding and leveraging the latest B2B marketing trends and developments, destination organizations can reach their target audiences in original ways and drive better results.
At Digital Edge, sometimes we’re setting our own trends; but we’re always staying on top of the ones around us. Reach out directly to our team to learn how we’re helping DOs stay competitive in their meetings marketing.