Industrial Sales and Marketing - A Third Major Secular Shift
Industrial sales and marketing, as we have traditionally known it, was largely a 20th-century framework. NCR's scientific approach to selling, Carnegie, Ziglar, SPIN, Sandler, and Miller Heiman are examples of sales techniques that will be familiar. Kotler shaped the way marketers think.
Let's call that secular (vs. cyclical) period 1900-2005.
Then the internet began to change the way companies think about marketing and selling. From 2005 until 2020 we changed the way we approached prospecting and engaging with buyers. (Rather buyers changed. Some companies adapted while some persisted in decreasingly effective approaches.)
I believe we have entered a new secular change - as opposed to cycles that come and go, secular changes are enduring - in which buyers are significantly shifting again.
Because secular changes develop gradually, they are often hard to recognize as they emerge. Immediate adaptation isn't necessary as we see in the widely varying ways in which companies have adapted to the '05-'20 period. Some embraced digital, some resisted and experienced gradual deterioration.
And this one may not be so gradual. In the space of a couple years one of the fundamental assumptions of contemporary industrial marketing - SEO and content - has begun to collapse. Data from SpartToro shows that only about 30% of Google searches result in an organic result click.
It's time to step back and look at what's happening to inform updated strategies and tactics for industrial sales and marketing.
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Host Ed Marsh Explores Major Secular Changes That Will Impact Industrial Sales and Marketing - The Industrial Growth Insitute Episode 43
Episode Recap
It's More Than a Cycle - And It DOES Matter to You
In this episode, Ed Marsh discusses the secular changes in B2B buying and their implications for industrial marketing and sales.
He emphasizes the need for adaptation in response to gradual shifts in buyer behavior, driven by technological advancements, the internet, and the impact of COVID-19.
The conversation explores the evolution of marketing and sales, the changing dynamics of decision-making processes, and the challenges faced in digital marketing. Ed advocates for a rethinking of marketing strategies and a transformation in sales approaches to meet the demands of today's buyers and ensure future success.
Takeaways
- Secular changes in B2B buying require adaptation in marketing and sales.
- Understanding the difference between cycles and secular trends is crucial.
- The internet has fundamentally transformed how buyers seek information.
- COVID-19 accelerated the adoption of digital sales and marketing technologies.
- Decision-making in companies has shifted to committee-based processes.
- Buyers are overwhelmed with content and prefer un-gated information.
- Traditional SEO and content marketing strategies are becoming less effective.
- Sales teams need to build relationships rather than just react to inquiries.
- Investing in training and development for sales teams is essential.
- Companies that adapt early will gain a competitive advantage.
Takeaway Quotes from Ed Marsh
- "Waiting for buyers to find us is futile."
- "Buyers are overwhelmed with content."
Outline
00:00 Introduction to Secular Changes in B2B Buying
02:50 Understanding Cycles vs. Secular Trends
06:14 The Evolution of Industrial Marketing and Sales
09:08 The Impact of the Internet on Buyer Behavior
12:01 The Role of COVID and AI in Changing Sales Dynamics
14:54 The Shift in Decision-Making Processes
17:48 Challenges in Digital Marketing and SEO
21:05 Rethinking Marketing Strategies for Today's Buyers
24:11 Transforming Sales Approaches for Future Success
27:05 Conclusion and Call to Action for Adaptation
Understand These Secular Changes in Industrial Sales & Marketing
Want a deeper dive into the numbers and these changes? Download a synopsis here, or a more complete narrative here.
The engine of many companies' revenue growth for the last ten years, SEO & Google Search, is changing fast. Don't let the change simply pass you by. Learn about it so you can make informed decisions on how to adapt.
