08 May The Changing Marketing & Media Landscape
The second keynote of this year’s Washington, D.C. Mid-Atlantic Marketing Summit brought us brothers Joe Payne and David Payne discussing the changing marketing and media landscape.
With such busy schedules, getting these two together for an event beyond Thanksgiving proved to be quite the task, and this hotly anticipated session did not disappoint. But, before I go further, let me give you a bit of background on the brothers Payne.
Joe Payne is the former CEO and Chairman of Eloqua, which he led to a successful IPO in 2012 and sale to Oracle in 2013. David Payne currently serves as the chief digital officer at Gannett where he guides the company’s overall digital strategy and leads Gannett Digital.
The brother’s went back and forth asking each other a few questions and below are some of the highlights of their talk.
Joe on how he was able to take Eloqua from a small company to a successful IPO and then sell the company to Oracle – and what advice he’d have for others.
It’s all about making software that works really well and is able to make people successful. He advised that the best thing small companies can do is be the best in the world at one thing and be flexible about what that one thing is. Listening to your customers, being willing to change and adapt is integral to success.
He shared the story of how an Eloqua customer was successfully using the software when they (the customer) were purchased by Oracle – who promptly shut off Eloqua, dropping the sales numbers to zero. Oracle then put Eloqua through a lengthy trial period before deciding it made sense to make Eloqua part of the Oracle family.
David on what’s going on at Gannett these days.
As most people are aware, if approved by regulators, Gannett is only about 60 days away from splitting the company into two. The primary split will be between the company’s broadcast group (Gannett currently owns 46 TV stations) and the publishing side of the company. With 33,000 employees, Gannett is a large, diverse company with each side of the house having unique needs and challenges. Splitting the company in two will allow the company to better serve their employees and customers.
Thoughts on what’s happening in the B2C marketing world that we can expect to see move into B2B marketing.
It wasn’t so long ago that nobody really knew what Big Data meant or how to effectively use it. Big Data is finally starting to come to life in publishing and is moving from a B2C tool to a B2B marketing strategy.
Let’s talk more about Big Data.
Big Data for marketers is really about knowing who your customers and audience are and then delivering the right content to them in the right place. The CMO suite is getting better at using more technology, and in the publishing world this means they are getting better at knowing and segmenting their audience, allowing them to serve up media and content based on that segmentation.
This has been a challenge for the B2B marketing world though and Joe cautions against just serving up content anywhere. B2B marketers need to resist the temptation to integrate their content into what Lee Rainie referred to as the Snack Zone in the first session of the day. Context is critical. When things are in the wrong place your audience knows it and it comes across as weird. While retargeting can be useful and beneficial there is some retargeting overkill for B2B brands right now and Joe asks, do you really want to show up everywhere your customers go? While it may sound like a good idea you have to understand that sometimes they don’t want you there.
What about the role of the CMO?
People have good intentions in the B2B marketing world, but CMOs are faced with a million different technologies that all purport to solve the same problems – it’s hard for them to sort through all of that. Joe would like to see the industry get smarter and better at using technologies without needing to have full-time consultants and feels that it’s important to build an organization with a culture of learning that allows for bringing the expertise in house. And this switch really starts at the top with the CMO. The CMO needs to be fully engaged with the technologies they are buying and understand the analytics and how they tie back to the business.
How can B2B marketers market more effectively?
Get sales and marketing together and map out the buyer’s journey. Sales should own the relationship but it’s up to marketing to create the content the buyer will consume along the way. When sales and marketing come together, map out the journey and actually see what the buying process looks like, it can be eye opening. Having a visual representation of the journey also allows the team to discuss what content and marketing materials are needed for each step in the process.
Were you at this morning’s Payne & Payne session? What did you enjoy most?