Alex Norbury explains how to get started on creating durable growth in the face of economic adversity.
Tech. One of the most exciting sectors to work in. But, as most B2B industries see marketing budgets increase, tech finds itself at a standstill. It’s well documented that in times of uncertainty, it’s crucial to protect healthy levels of marketing spend. Afterall, for every $1 of marketing investment that’s cut, it takes $1.85 to regain the same brand impact. So, tech marketers’ spend must be smarter than ever to keep that impact going.
But where do you start? Here’s three key areas to ignite long-term, meaningful growth:
1. Embrace changes in buying behaviours
It’s essential to recognise the shift in your audience: almost 50% of enterprise tech buyers are under 35. What they care about and how they engage has evolved significantly. Namely their demand for self-serve experiences.
Yet, the way in which tech marketers engage their buyers proves to be, dare I say, dated. To embrace these changes and be smarter with your marketing, you must make changes yourself.
Leave the homogenous, ‘one-size-fits-all’ approach behind. Start catering for the evolving and diverse audience sectors. Shift away from gated content and move towards a more open and accessible plan. In tech, the rise of Cloud Marketplaces is what stands out the most. They’ve become more than just a testing ground; buyers are actively making their purchases through these platforms. Tech marketers and sales teams must adjust to this new route to-market and embrace it as a viable channel for vendors and channels.
2. Invest in creativity
Impactful creative can boost sales effectiveness by 10-20 times. It seems obvious, yet a staggering 77% of B2B ads generate no sales. While your competitors are slashing budgets, and media investment is shrinking, this is the time for you to stand out. And put creativity first. How? Prioritise attention over clicks. With 60% of brand advertising in B2B being misattributed, you’re essentially giving your competitors free advertising. So, recognising attention metrics are vital for long-term brand success. Choose one campaign and ask your team,
or agency, to push the boundaries and test the attention you get from it. Trust us, it’ll be worth it.
3. Act on AI
Let’s address the elephant in the room: AI. After all, 70% of AI adopters see revenue increases. As exciting as it may be, introducing your AI strategy should be still approached with caution. Procrastination is a big risk, but you must ensure you’re responsible, ethical, and using it in the best way for your business. Marketers should ask themselves: is AI valuable? Is it responsible? Is it actionable? These are critical questions to make informed decisions about incorporating AI into your marketing strategies.
To stay ahead with less, tech marketers must embrace change. Invest in long-term creative thinking and start looking into the appropriate adoption of Cloud Marketplaces and AI. We know it’s not as simple as just going off and applying this overnight. But taking these steps today can be the start of long-term sustainable success.
Ready to get started? Get in touch now to see how Twogether can support your transformation.
