Interview starts at 25:46
I was talking to Matt ahead of interviewing the panel members of MOI’s Disrupt Forum and he said that he chose the topic of ‘building a modern marketing organisation of the future’ for the event as he felt that business buyers are changing the buying process faster than marketing and sales organisations can change themselves. He added that customer behaviours have changed quite drastically in the consumer world, and these behaviours are now being seen in the purchasing of low value business technologies and even complex enterprise sales. On top of that, cloud technology, in the technology sector, has completely changed the way organisations are able to sell to their audiences, in some instances completely transacting online, providing a completely different challenge to B2B Marketing. His aim, therefore, for the series of forums is to therefore provide marketing leaders with knowledge and understanding, allowing them to share best practises, so they can respond to this change and effectively sell their technologies in today’s world.
Matt feels that the speed of change is catching everyone out, especially around buyer behaviour. A lot of the focus in the forum is around culture and he believes that is difficult to shift, adding that from a marketing perspective, there is an expectation to be able to respond in real time, but keeping up with that change is very difficult. He said that marketing therefore needs to be agile and learn to think of change as a constant, not a response and that we need to understand how we can keep up with customer behaviour change in B2B marketing.
Another aspect that Matt touched on is innovation budgets, enabling businesses to keep up with change. He believes more innovation budget should be put into piloting techniques in small doses, thinking about fail fast, but succeed quickly, as this gives you the ability to prove results to the rest of the business, which allows for change to become a priority as it can be seen as beneficial to the business as a whole.
Marketing mind-sets within marketing organisations have changed according to Matt. Whilst marketing is being held back by rest of the business, he said that the one saviour is around customer centricity – we live in a customer centric world, which puts marketing in the right place to drive change. However, he also believes that there is still a lot to be done for marketing to truly transform.
Matt added that we live in a world of influence that we can’t measure as effectively as we used to. Therefore, to respond to the modern buyer, he said that we need to look at the cultures within the organisation, but the process and measurement behind that culture needs to fundamentally change too.
Disrupt forums are run London, Singapore and San Francisco and Matt has seen there are cultural differences across three areas. In San Francisco, around Silicon Valley and broadly out to North America, Matt said that they are more receptive to pioneering news concepts and piloting new ways to engage their audience, and there is a lot less resistance from the rest business because the theory of failing fast is widely embraced. However, in Asia, their budgets are smaller, they have a tendency to stick with the success that they have seen in more traditional forms of marketing as there is less risk. He therefore described the two regions as polar opposites, with EMEA sitting right in the middle.
In summary, Matt thinks that one of biggest gaps is the measurement piece. MOI’s own research from the Disrupt Forums has shown him that marketing leaders see their biggest gap is in the strategic minds within their marketing organisation. He therefore thinks there a need to understanding how to build programs, rather than the execution of their individual elements, that join together to achieve the ultimate goal of revenue.
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