Podcast Summary: B2B Marketing Exchange - "The State Of Demand Gen"
Release Date: September 25, 2024
Host: Demand Gen Report
Episode Title: The State Of Demand Gen
The latest episode of the B2B Marketing Exchange podcast, hosted by Demand Gen Report, delves deep into the current landscape and future projections of demand generation (demand gen) in the B2B sector. Titled "The State Of Demand Gen," this episode features a panel of esteemed experts: Tamara Burr (Senior Director of Global Growth Marketing at GP), Jen Holmes (Director of Demand Gen at GP), and Matthew Davidson (Growth Marketing Manager of Content Syndication at Indeed). Moderated by Ebony Ryan, the discussion is anchored in insights from a comprehensive Digital Zone survey involving 1,500 marketers globally.
1. Integrating Brand Strategy with Demand Generation
A standout finding from the Digital Zone survey is that 99% of marketers believe their brand strategy significantly influences their demand gen programs. This revelation challenges the common perception that brand and demand gen operate in silos within marketing departments.
Ebony Ryan expresses her surprise:
"To hear that 99% of the marketers who responded said that they are connected, that they are influenced by each other was actually kind of shocking to me." [00:00]
Tamara Burr elaborates on GP's approach:
"The brand team is closest to our positioning and our messaging. So obviously those two areas are very critical to funnel performance. We do work very closely together to make sure that we are very, very aligned on goals and our strategy." [07:25]
Matthew Davidson from Indeed adds:
"Through the full funnel, we're looking at top of funnel content and awareness stages as part of the demand gen function anyway. So any overlap that we can have and communication can really only increase our overall reach and ultimately comes down to better ROI." [08:13]
2. Leveraging Data for Demand Generation Strategies
Data remains a cornerstone of effective demand gen strategies. The panel discusses various types of data utilized to inform and refine these strategies.
Tamara Burr highlights the use of demographic and firmographic data:
"It really helps us understand our audiences, which audiences are successfully engaging with our programs, and also gives us an idea of where to focus our dollars and our resources." [11:21]
Kelly Lindenow emphasizes data from marketing automation platforms:
"Lead scoring is a big thing for us, which we're always looking at. Reevaluating, determining what actions or characteristics made someone move farther down the marketing funnel and adjusting our lead scoring accordingly." [11:58]
Matthew Davidson introduces a nuanced approach to lead scoring:
"Implement a demographic scoring approach to have levels of filters that suggest a better audience. That's very unique to each organization." [12:38]
Tamara Burr also discusses the importance of buyer journey data:
"We use it to understand prospect and customer behavior and where they are at each stage. It allows us to tailor our content and our programs to match what is needed at that stage." [13:09]
3. The Pervasive Role of AI in Demand Generation
AI has become ubiquitous in demand gen, with 90% of marketers leveraging it to create personalized content. The panel explores various applications and the rapid adoption of AI technologies.
Tamara Burr shares GP's AI integration:
"We use it for lead and account prioritization and it's a great way to scale those efforts. It helps increase efficiency and allows us to focus on what matters, which is the customer." [14:55]
Matthew Davidson discusses AI's impact on testing:
"AI has given us the capability to AB test quicker than ever before. It allows for deeper and more progressive testing than ever before." [15:39]
Kelly Lindenow touches on the gradual adoption of AI tools:
"We're experimenting with how we can adopt AI because as we know, AI is the way of the future. It can just have AI be another little team member for us." [16:29]
Ebony Ryan reflects on the evolution of AI:
"2023 was the year of AI, and in 2024, we'll see efficiency and optimization in AI 2.0. Better tools and deeper integration are on the horizon." [23:08]
4. Optimizing ROI in Demand Generation
Maximizing return on investment (ROI) remains a top priority, especially in uncertain economic climates. The panel offers diverse strategies to enhance ROI effectively.
Matthew Davidson shares Indeed's approach:
"We are always looking to expand our reach with a big brand like Indeed to test new things. Scaling up can vary depending on organizational needs." [18:48]
Kelly Lindenow emphasizes nurturing existing leads and vendor relationships:
"It costs more to acquire new leads versus to nurture existing ones. Making sure you have a great relationship with your demand gen vendors is crucial for better ROI." [19:40]
Tamara Burr discusses balancing retention and acquisition:
"It costs more to acquire new customers than to retain existing ones. We're shifting our focus to retention and loyalty to make our dollars go much farther." [20:38]
Ebony Ryan concurs on the challenges of prioritizing retention over acquisition:
"It's a hard sell at the top because new deals are so bright and shiny, but focusing on existing customers is essential for sustained revenue." [21:42]
5. Predictions for 2024: The Next Phase of AI Integration
Looking ahead, the panel shares their insights on where demand gen is headed in 2024, particularly concerning AI advancements.
Tamara Burr predicts:
"Rapid fire efficiency." [23:00]
Kelly Lindenow envisions:
"Optimization." [23:02]
Matthew Davidson forecasts:
"AI 2.0." [23:08]
Ebony Ryan synthesizes these views:
"In 2024, we'll see efficiency and optimization in AI 2.0, moving beyond the initial adoption phase to more sophisticated and integrated applications." [23:13]
Conclusion
The episode concludes with a consensus that AI will continue to transform demand gen, driving efficiency and optimization. The panel underscores the importance of integrating brand strategy with demand gen, leveraging comprehensive data, and optimizing ROI through strategic initiatives. As the B2B marketing landscape evolves, staying adaptable and embracing technological advancements like AI will be crucial for sustained success.
For more insights and detailed discussions, listeners are encouraged to explore the full "Dimensions of Demand Gen" report and visit DigitalZone's booth at upcoming events.