MARKETING
B2B marketers look to match B2C in level of customer experience
Customer experience (CX) has become an increased focus for marketers across industries, but many B2B marketers feel as though they need to catch-up to their consumer-facing counterparts to deliver better experiences.
Nearly 90% of B2B marketers think their organizations need to be as focused on customer experience as their B2C counterparts, according to a Dun & Bradstreet report (download required). And while 38% of B2B marketers believe they outpace their competitors when it comes to creating and delivering customer experiences, nearly a quarter indicated they feel as they are lagging behind.
If marketers from both B2B and B2C organizations are so focused on delivering personalized, omnichannel experiences, why do so many B2B brands struggle with CX? According to those surveyed, over one-third cited the inability to use the data and tools they already have in place as their biggest CX challenge. The inability to identify customer touchpoints and lack of insight into the customer journey were also notable challenges.
Why we should care
For B2B marketers who are committed to improving customer experiences, establishing data governance will play a critical role in their marketing strategies for the coming year. Among the long list of data governance challenges, most marketers are familiar with siloed data and dealing with incomplete customer data. According to the study, emerging technologies such as customer data platforms (CDPs) and data management platforms (DMPs) are being increasingly used by both B2B and B2C marketers to manage the firehose of data they are generating. Ultimately, B2B brands don’t need more data, they need to make sense of the data they already have, the study concludes.
“Unlike B2C, in B2B there is not a single buyer, so having a full customer picture of both the individual and the account is critical to deliver on the promise of personalization,” said Lauren Bakewell, chief product officer, sales and marketing solutions at Dun & Bradstreet. “Without the ability to centralize the many aspects of customer and prospect data, it is very difficult to see customers holistically at both an account and individual level and deliver a personalized and consistent customer experience to each. Simply put, informed and personalized omnichannel experiences mean more sales, stronger loyalty and greater long-term customer value.”
More on the news
- 84% of marketers say their teams will be putting more focus on data in the next year.
- Measurement and analytics came in as a top priority for nearly 70% of respondents.
- Account-based marketing (ABM) continues to be a critical approach for B2B marketers to use data as a competitive advantage.
- The 255 survey respondents were all B2B marketers with a job title of manager or above.
About The Author
MARKETING
Trends in Content Localization – Moz
Multinational fast food chains are one of the best-known examples of recognizing that product menus may sometimes have to change significantly to serve distinct audiences. The above video is just a short run-through of the same business selling smokehouse burgers, kofta, paneer, and rice bowls in an effort to appeal to people in a variety of places. I can’t personally judge the validity of these representations, but what I can see is that, in such cases, you don’t merely localize your content but the products on which your content is founded.
Sometimes, even the branding of businesses is different around the world; what we call Burger King in America is Hungry Jack’s in Australia, Lays potato chips here are Sabritas in Mexico, and DiGiorno frozen pizza is familiar in the US, but Canada knows it as Delissio.
Tales of product tailoring failures often become famous, likely because some of them may seem humorous from a distance, but cultural sensitivity should always be taken seriously. If a brand you are marketing is on its way to becoming a large global seller, the best insurance against reputation damage and revenue loss as a result of cultural insensitivity is to employ regional and cultural experts whose first-hand and lived experiences can steward the organization in acting with awareness and respect.
MARKETING
How AI Is Redefining Startup GTM Strategy
MARKETING
More promotions and more layoffs
For martech professionals salaries are good and promotions are coming faster, unfortunately, layoffs are coming faster, too. That’s according to the just-released 2024 Martech Salary and Career Survey. Another very unfortunate finding: The median salary of women below the C-suite level is 35% less than what men earn.
The last year saw many different economic trends, some at odds with each other. Although unemployment remained very low overall and the economy grew, some businesses — especially those in technology and media — cut both jobs and spending. Reasons cited for the cuts include during the early years of the pandemic, higher interest rates and corporate greed.
Dig deeper: How to overcome marketing budget cuts and hiring freezes
Be that as it may, for the employed it remains a good time to be a martech professional. Salaries remain lucrative compared to many other professions, with an overall median salary of $128,643.
Here are the median salaries by role:
- Senior management $199,653
- Director $157,776
- Manager $99,510
- Staff $89,126
Senior managers make more than twice what staff make. Directors and up had a $163,395 median salary compared to manager/staff roles, where the median was $94,818.
One-third of those surveyed said they were promoted in the last 12 months, a finding that was nearly equal among director+ (32%) and managers and staff (30%).
Extend the time frame to two years, and nearly three-quarters of director+ respondents say they received a promotion, while the same can be said for two-thirds of manager and staff respondents.
Dig deeper: Skills-based hiring for modern marketing teams
Employee turnover
In 2023, we asked survey respondents if they noticed an increase in employee churn and whether they would classify that churn as a “moderate” or “significant” increase. For 2024, given the attention on cost reductions and layoffs, we asked if the churn they witnessed was “voluntary” (e.g., people leaving for another role) or “involuntary” (e.g., a layoff or dismissal). More than half of the marketing technology professionals said churn increased in the last year. Nearly one-third classified most of the churn as “involuntary.”
Men and Women
This year, instead of using average salary figures, we used the median figures to lessen the impact of outliers in the salary data. As a result, the gap between salaries for men and women is even more glaring than it was previously.
In last year’s report, men earned an average of 24% more than women. This year the median salary of men is 35% more than the median salary of women. That is until you get to the upper echelons. Women at director and up earned 5% more than men.
Methodology
The 2024 MarTech Salary and Career Survey is a joint project of MarTech.org and chiefmartec.com. We surveyed 305 marketers between December 2023 and February 2024; 297 of those provided salary information. Nearly 63% (191) of respondents live in North America; 16% (50) live in Western Europe. The conclusions in this report are limited to responses from those individuals only. Other regions were excluded due to the limited number of respondents.
Download your copy of the 2024 MarTech Salary and Career Survey here. No registration is required.
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