Navigating disruption: The rising value of content for B2B buyers

During our recent panel discussion, Momentum ITSMA members enjoyed exclusive insights on the evolution of marketing in a post-pandemic world, courtesy of guests Sarah Alspach, Director of EMEIA Brand, Marketing and Communications for EY, and Joachim Box, Vice Head of Global Corporate Marketing Global Head of Cocreation, at Fujitsu.

We explored changing customer priorities, buyer journey optimization, the role of brand, collaboration, and value-led sustainability in a volatile economy – and much more.

To kick things off, Robert Hollier, Partner at Momentum ITSMA, presented the results of our Customer Buying Index (CBX®) Survey 2022.

We interviewed 450+ decision makers from among the largest organizations across North America, EMEA, and APAC to understand what drives their purchasing decisions for significant, complex solutions – from technology platforms to strategy, applications, and beyond.

(The respondents are split roughly 50/50 between business leaders and IT stakeholders – and there’s virtually no divergence between the two, which says a lot about the world we’re in.)

The key takeaways are:

· Eight in 10 executives consume more content than they did two years ago. This is good news – if you can get it right. Sixty-eight percent of executives are more likely to do business with a firm if they are impressed by its content. Boring, inconsistent, or overly sales-focused content won't cut it.

· Improving customer experience has leaped to the top of executives' agendas. This year, customer experience has replaced productivity as our respondents’ top priority – and it’s a real opportunity for marketers to add value.

· Talent acquisition is having a massive impact on large companies’ servicing capabilities. We’re hearing this more, and more, and more, talking to people who are losing 20% of their staff year-on-year. It's having a massive impact on their servicing capabilities – and there don't seem to be any obvious solutions.

· Volatility is driving interest in new providers. In 2022, 41% of recent high-value, complex purchases were awarded to new providers, compared to just 23% last year. Enterprises are facing new challenges and need new partners to meet them; there is an appetite for people who can bring innovation to the table and work collaboratively.

· You can’t go ‘all-in’ on digital. During the pandemic, there was some fanciful speculation that enterprise buyers wanted an entirely digital experience. They don't. Our data says both digital and human touchpoints are critical. There's 'no silver bullet' content; instead, there is a need for multichannel orchestration throughout the buying cycle.

After Robert set the scene, we opened the floor for Sarah and Joachim to take questions.

Here are some highlights from the discussion:

How has your marketing changed since the pandemic?

Joachim: The pandemic prompted a process of decluttering. We honed down our offer to focus on what matters most to our customers and the stories we tell about how we can help. As a result, we've made some significant changes to our business strategy, brand, and brand presence.

Sarah: We developed a framework approach to our thought leadership around 'the now, the next, and the beyond'. It was a great way to evolve our thinking and keep pushing ourselves toward the horizon.

We also focused on collaboration and tools for collaboration. Pre-pandemic, we had a space where we innovated and collaborated with clients. All of a sudden, everyone is locked down. It forced us to create a virtual away space methodology. Returning to the hybrid world, it's about getting the right mix and applying it at the right point in the customer lifecycle.

What’s the impact of volatility and the economic downturn?

Sarah: It's sharpened our focus. There is even more demand for forward-looking thought leadership. We recently put out scenarios on what the world will look like in five years; these sorts of things are really interesting to clients. We're prioritizing quality over quantity and better activation – making the most of the content we're putting out and working with country teams to leverage it globally.

Joachim: What do we do with our time? How do we keep people busy? How can we manage the supply chain? How can we improve productivity and automation? These are the problems people were facing two years ago – with the added spice of needing to take more cost out. It’s about focusing on the value we can bring. 

When we talk about volatility, what's surprising is anyone thought the world wasn't volatile. Humans are terrible at forecasting things; there's always a huge amount of unpredictability. Resilience is a way of addressing all of that – and we capture it with our commitment to sustainability. That's our major drive; if we can address personal wellbeing, good societal outcomes, and helping businesses, we can deal with volatility in whatever shape or form.

Will brand count for more in an economic downturn?

Sarah: We've doubled down on brand; it does a huge amount of heavy lifting. And brand goes hand in hand with reputation. The reason a customer decides not to go with someone is because they don't know who they are. Every dollar you invest in brand drives down the cost of sales.

We've been doing a lot of work with our leaders to make sure they're communicating who they are and engaging with customers while building on the brand that we've established.

The other thing we've seen through research is the degree to which values play a role. More and more customers want to work with organizations that reflect similar values. Brand has a huge role in helping communicate what you stand for; if you can't demonstrate your credentials, it can be incredibly damaging.

Joachim: Our instinct is telling us that Gen Z plays an influence in buying decisions. Customers have many Gen Z employees who aren't making buying decisions but influencing the second, third, or fourth person in line. We're putting some marketing effort into Gen Z, which is also useful for talent acquisition.

How do you feel about co-created marketing?

Joachim: You can only drive societal outcomes in a collaborative way, whether that's joint ventures or going to market with someone else's idea. We're really comfortable with that and have done a couple of big partnerships recently.

Sarah: When we engage with people, we want to show that we're listening to them, that we understand their needs, and that we reflect even the language they use in how we talk to them. Our brand is about setting expectations of who we are; it doesn't preclude speaking to someone in language that's going to resonate with them.

What’s your take on ESG?

Joachim: We just published ESG research in the Financial Times, which found that 77% of large companies are doing loads on ESG. 2% have got to Net Zero. 2% is pathetic. Maybe the opportunities and the savings that can be derived will force people's hands; we can't afford not to do something.

Sarah: There's still a gap between what people say and how that translates into action. We're talking to clients about value-led sustainability; helping clients see the path to value, whether that's through savings or growth. Among Gen Z, there is a lot more focus on it. People want to do the right thing – but it helps when it's financially viable. Once there's more transparency around reporting, people will be forced to take action.

Do you have any advice for your young self starting out?

Joachim: What matters to me is having access to customers. You calibrate what you do as an organization by seeing a customer respond.

Sarah: It's about the power of networking. You don't have to be friends with your colleagues, but you do need to find points of connectivity. It's a really important piece, and it's something they never quite teach you in schools.