I recently participated in a project with the Oracle Marketing Cloud where they interviewed marketing professors about the state of B2B marketing and how they are using that knowledge to develop curriculum to train the marketers of the future. It was an esteemed panel of professors, including:
- Barbara Kahn, Patty and Jay H. Baker Professor of Marketing, The Wharton School of Business, University of Pennsylvania
- Josh Murdock, Professor of Educational Technology & Social Networking, Valencia College
- Mark Schaefer, Marketing Consultant, College Educator and Author, Rutgers University
- Peter Fader, Professor of Marketing, Co-Director of Wharton Customer Analytics Initiative, The Wharton School of Business, University of Pennsylvania
- Eric Bradlow, K.P. Chao Professor of Marketing, Statistics, and Education, The Wharton School of Business, University of Pennsylvania
- Jessica Rogers, Graduate Social Media and Marketing, Southern New Hampshire University
- Jeffrey L. Cohen, Distinguished Lecturer of Marketing Analytics and Social Media, Ball State University (hey, that’s me!)
Download the entire ebook here (registration required), but in the meantime, here are my answers to the questions.
1. What is the number one thing marketers may have lost sight of?
Too many marketing activities are siloed from the top-level business objectives of a company, and are not measured against metrics that others in the company care about. If your executives follow daily, weekly or monthly numbers related to things like sales, customer retention, cost savings and customer satisfaction, then reporting softer marketing numbers will not win any points with those executives. Marketers need to find ways to tie their efforts to those business metrics.
2. What are your observations with respect to the nuances of the B2B and B2C marketing disciplines?
As a lifelong B2B marketer, and co-author of The B2B Social Media Book, B2B marketing makes sense to me. No matter what techniques you use, you are ultimately driving prospects into a buying process where you can track where they came from. While selling through a distribution network can complicate things, a company sales rep, or someone no more than a couple steps removed away from the company, handles B2B purchases, making tracking possible. I have never understood how Coca-Cola marketers can track their efforts to sell a bottle of Coke at the grocery store or convenience store. This action is too far removed from their brand marketing and advertising to attribute action to particular campaigns.
3. What do you think a B2B marketer can learn from B2C or vice versa?
B2B marketers can learn creativity, creating an emotional response and storytelling from the B2C pros, and B2C marketers can learn more about calls-to-action, attribution and leading a buyer through a journey from their B2B brethren.
4. Can you compare and contrast the curriculum that you’re teaching and the current roles and responsibilities of today’s marketers?
I am teaching students about the importance of their public, online presence and how to keep up with a constant flow of information in their industry. This would not be an explicit part of their marketing role, but an understanding of this will make them stronger marketers. Traditionally, it has been social media savvy folks on the team who really understand how to build a personal presence and follow all the right sources in a manageable way, but these skills are important as a solid foundation for all marketers.
Students learn how to create and analyze social media marketing campaigns that resonate with customers, B2B and B2C, and are based on solid marketing and business principles. Proper goal setting and how to review analytics to understand success are also a key part of my learning objectives. This fits in with the skills and requirements of marketers in the field. Marketers create campaigns, analyze competitors’ campaigns and review the success of their own efforts.
5. What will you teach my future employees this year?
I start by explaining the difference between personal social media, which is what most college students do, and professional social media. They need to understand the importance of a professional profile, not just on LinkedIn, but on all social platforms, if they are going into marketing. This is part of the transition to the working world. I tie social media to business results and the basic principles of marketing, so students understand the value of social media to an organization. I go though major and minor social platforms, looking at current examples and best practices, so students have an understanding of what is happening right now in social media marketing.
Please download the ebook here to learn what the rest of the panel thinks about the state of B2B marketing and how education feeds into it (registration required).