MARKET VIEW 04
Peter Millichap
MARKETING DIRECTOR
B2B Customer Acquisition: The role of human engagement in a world of digital-first enterprise marketing
I believe it would’ve naturally evolved to virtual as a result of generational shift and millennials moving into decision-making positions, but the pandemic accelerated this process.
What are some changes that you’re seeing in your industry as a result of the pandemic?
We have different types of buyers in our industry and a very high percentage of our buyers are in the 50+ age range. For a long time, we believed that the best way to sell was face-to-face, because we sell technology products that have complex applications. And there's still some truth to that, but the pandemic demonstrated to us that we could shift to initiating with the virtual and then move to face-to-face if necessary.
This was a massive cultural step. I believe it would’ve naturally evolved to virtual as a result of generational shift and millennials moving into decision-making positions, but the pandemic accelerated this process.
In my opinion, millennials are definitely more exposed to advertising, but I don't believe they ignore it.
Speaking of millennials, who have grown accustomed to ignoring ads and to being entertained, how should organisations adapt their marketing approach to address this shift towards entertainment seeking buyers?
In my opinion, millennials are definitely more exposed to advertising, but I don't believe they ignore it. Those are two very different things. From a marketing perspective, we need to go back to basics: understanding our customer and doing our research, segmentation and targeting. A lot of content that’s out there today is not engaging enough and it doesn’t really provide any value. So, the environment has changed but the marketing fundamentally hasn't changed. We still need to go where our buyers are and we still need to get to know them.
When it comes to entertaining the buyers, I believe this can be achieved through adding value to your content and building thought leadership, to make it intellectually entertaining. But also, by being creative in your advertising and your messaging.
Helping customers build social capital is something we must take into consideration as we move forward.
PETER MILLICHAP
Marketing Director
TELETRAC NAVMAN
Considering that millennials, who share more content and spend 34% more time on LinkedIn than the previous Generation X, are rapidly becoming the buyers of enterprise technology and services, should sellers adopt their marketing strategies to help buyers build their social capital?
Transforming engagement with customers on social media into a live social environment is very powerful. It allows the customer to engage instantly and it also allies the brand to amplify it more effectively and more instantly. When it comes to storytelling, social media just does it better because it is naturally multi-layered. It's more credible because you have customers who are engaging almost immediately, reposting content and adding layers of information. So, helping customers build social capital is something we must take into consideration as we move forward.
Teletrac Navman, is a global, market leading software-as-a-service (SaaS) provider that is focused on transforming mobile asset and fleet management. Powered by AI and machine learning its software turns real-time data into decisions and is helping companies around the globe with smart and actionable insights that enhance productivity, profitability and safety. The company is headquartered in Orange County, CA, with additional offices in the United States, United Kingdom, Australia, New Zealand and Mexico.
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