A survey conducted by ‘Ironpaper’, a B2B growth agency, reported that there are many changes in the marketing and sales tactics that have resulted in a drastic change in the market. Every corner of the world is hit by the deadly coronavirus since last year. The pandemic that has hit the globe has revolutionized many things and has proved to be a catastrophe.
Everyone is ‘locked down’ in their houses. Due to this, digitalization has boosted in the country. Revolutionary changes in the digital world which were expected to happen after 50 years have revolutionized now. The shift to a digital-first buyer’s journey has been a struggle for many B2B companies. When asked about barriers to revenue generation, 44% of respondents noted that it is difficult to connect with prospects in a virtual environment. This challenge, coupled with increased competition in the market, has been met by shifting to a digital buyer’s journey. When asked where significant portions of in-person event budgets have been allocated, respondent’s top answers (digital marketing, online advertising, and marketing technology) indicate investment in a digital-first approach.
“Many companies struggled during the pandemic as in-person events were canceled. B2B companies had to focus more attention on their digital buyer’s journey. Instead of relying on in-person events, businesses shifted to digital tactics while also addressing changing buyer needs,” noted Jonathan Franchell, CEO and founder of Ironpaper.
Ironpaper’s survey also examined the misalignment between sales and marketing teams, a common issue plaguing companies of all sizes. After analyzing how salespeople and marketers responded to questions, Ironpaper realized that marketing and sales must align with the buyer, not necessarily with each other. Not focusing on the buyer is a significant problem among many B2B companies.
The analysis also spurred further questions about how B2B organizations react to market forces changes, which has pushed Ironpaper to launch a follow-up survey that digs into specific questions. They expect to release the results of the second survey in late August 2021.