This crisis is bringing to the surface all kinds of innovative ways to use technology and other means to serve customers. In many cases, new solutions and products might have already been in your pipeline or on your mind, but current needs are giving you a reason to accelerate development and launch.
Digital transformation was a buzz phrase prior to the coronavirus crisis. Since then, it has become a reality in many cases — and a necessity for all. The consumer sector has, in many cases, moved fast. The bigger opportunity is in B2B applications, particularly manufacturing, where physical distancing can be challenging.
Market research and competitive insights, plus marketing analytics, now absorb more than 13 percent and 16 percent of marketing operations budgets, respectively. However, evidence from Gartner’s latest survey indicates investments are often mismatched with their output, presenting a significant risk to the ongoing investment.
via Digital Polymath
“B2B marketers cling to structural strategies of the past: 36% organize around industry segments; 43% organize by channel-specific domain expertise such as email, advertising, or social. And behaviors and execution conform to structures, not the other way around.”
According to the latest research insights from Gartner, marketers need to focus more on the few high-potential ideas that can really show value for the customer and the rest of the business. They must also raise the profile of the marketing organization as a key innovation partner.
via Digital Polymath
While trust in brands has dwindled, B2B buyers hold those same brands’ employees in high regard as authentic and compelling sources of information. They want to engage with them. However, buyers don’t trust paid ‘influencer’ shills — they’re not credible.
A new global market study found that more than 14 billion B2B cross-border transactions will be processed by 2023; rising from 13.5 billion in 2019 — that’s a 7% increase. This will be driven by blockchain-based payment networks.
via Juniper Research
According to Juniper Research, the annual value of virtual cards (e.g. temporary card numbers only available for a single transaction or limited time) used by businesses will grow by 90 percent over the next four years — exceeding $1 trillion by 2022.
Outside of very specific cases, it’s tough for B2B advertisers to justify major investments in traditional TV or trade publications. The fleeting foothold of these media platforms is diminishing and there are no signs of that changing in the coming years.