B2B Online Chicago Day 1 Recap: Navigating Modern Marketing, E-commerce, and B2B Marketplaces

We recently attended B2B Online in Chicago to get a sense of how distributors and manufacturers are delving into digital marketing to create full-funnel B2B customer journeys. Read on to get an overview of key themes industry experts shared on day one. Some of the most important topics throughout the day were about increasing ROI, developing the ultimate tech stack, aligning sales with your digital strategy, and leveraging the power of e-commerce marketplaces. 

Modern Marketing to Increase ROI

To increase ROI, marketers should keep up with the latest trends and technologies. Key strategies discussed include:

• Leveraging digital marketing channels: Develop a comprehensive strategy that includes social media, email marketing, SEO, and pay-per-click advertising.
• Measuring ROI through analytics: Use marketing analytics tools to track website traffic, conversion rates, and customer engagement.
• Personalizing marketing efforts: Segment audiences based on demographics, behaviors, and interests to create personalized campaigns.
• Incorporating influencer marketing and user-generated content: Partner with influencers and encourage customers to create and share content.

Developing the Ultimate Tech Stack

Building an efficient tech stack requires understanding business needs and goals. Some of the most important tools for digital marketers to consider include:

• Identifying key components: CRM software, marketing automation tools, and analytics platforms are crucial for managing customer data, automating marketing tasks, and gaining insights.
• Evaluating and selecting tools: Research different options and choose those that meet specific business needs.
• Integrating and optimizing the tech stack: Ensure seamless integration and collaboration between different tools for improved efficiency.
• Ensuring data security and privacy compliance: Implement measures to protect customer data and comply with privacy regulations.

Aligning Sales

Aligning sales and marketing goals is crucial for driving revenue. The experts shared various methods for making this happen:

• Implementing a sales enablement strategy: Provide sales teams with the right tools, resources, and training.
• Using data analytics to optimize sales processes: Gain insights into customer behavior and preferences to improve engagement and increase sales.
• Aligning sales compensation with business goals: Develop a compensation plan that rewards performance and aligns with objectives.
• Providing ongoing training and development: Continuously improve sales teams' skills and knowledge.

Transforming Digital Experience with Nordson

Nordson Corporation's digital transformation journey highlighted the importance of enhancing the user experience and leveraging technology. Here's what Nordson did to be successful:

• Leveraging the power of Coveo: Nordson used Coveo to scale their business and streamline the user experience.
• Enhancing product discovery: Nordson's strong taxonomy foundation improved product discovery on their website.
• Benefits of a streamlined user experience: A seamless and responsive experience leads to better engagement and business value.

Reimagining Sales to Include E-commerce

Integrating e-commerce into sales strategies is crucial for growth. Some key points that were shared more than once: 

• The importance of a digital frontend: Digital should be an integral part of the selling process.
• Understanding headless selling: Leveraging technology and analytics to integrate digital selling and drive growth.
• Personalization and customer experience: Emphasizing the role of personalization and focusing on customer satisfaction.
• Measuring success and optimizing strategies: Tracking key metrics and continuously improving e-commerce sales approaches.

Proactive vs. Reactive: Enabling E-procurement

Procurement teams must adapt to remove inefficiencies in the Procure-to-Pay process. Key topics discussed include:

• Understanding e-Procurement and its benefits: Emphasizing the cost savings, efficiency, and supplier relationship improvements.
• Modernizing the e-commerce platform: Evolving e-commerce platforms to incorporate e-Procurement features and functionalities.
• Managing suppliers and vendor relationships: Establishing effective requirements and measuring supplier performance.
• Collaboration between departments: The importance of aligning procurement and e-commerce teams and breaking down silos for improved communication and efficiency.
• ROI goals for e-Procurement and the company: Defining ROI goals, factors impacting ROI, and strategies for maximizing ROI.
• Corporate social responsibility and hitting goals: Integrating CSR into procurement processes and aligning e-Procurement initiatives with CSR goals.

Bullsh*t Bingo in B2B Commerce: What Is Real, What Is Fake, and What Matters

This presentation highlighted the importance of transparency and authenticity in B2B marketing and sales. This was definitely the most lively, entertaining and informative presentation of the week. Here's what they ultimately had to say:

• Identifying common "bullsh*t" in B2B marketing: Vague claims, jargon, and inflated statistics.
• Negative effects of "bullsh*t" on trust and relationships.
• Benefits of transparency and authenticity: Building trust and differentiation.
• Strategies for avoiding "bullsh*t": Fact-checking, asking for proof, and focusing on specific outcomes.
• Role of customer feedback and reviews: Separating real from fake in B2B commerce.
• Ethical considerations in marketing and sales.

Myth Busting False B2B Online Beliefs

The presentation debunked common myths in B2B marketing. We've provided below the most common myths they "busted" and what B2B marketers should actually be doing:

• B2B buyers using social media: Importance of having a social media presence as a B2B company as this is a key way to build trust, brand authenticity, and have potential buyers find you.
• Importance of visual content in B2B marketing: Engaging B2B buyers through visual content should not be underestimated as it can have a lasting effect on your company's perception.
• Digital channels in B2B sales: The role of digital channels and the increasing reliance of B2B buyers on them–it's well past time to move away from traditional methods.
• Personalization in B2B marketing: Building stronger relationships with B2B buyers through personalization is a good technique for creating a healthy returning customer base.
• Role of brand storytelling in B2B marketing: Differentiating a company from competitors through brand storytelling is not just for CPG or D2C brands.
• Building brand awareness in B2B marketing: Importance of brand reputation beyond lead generation.
• Emotional factors in B2B marketing: Considering emotional factors alongside rational decisions.

Building a Paid Brand Presence to Reach Consumers

A paid brand presence is vital for standing out in a crowded market. Here are the highlights of what was shared:

• Importance of paid brand presence: Increasing visibility, brand recognition, and sales.
• Understanding the target audience: Defining demographics, psychographics, and online behaviors.
• Crafting an effective paid brand strategy: Setting clear goals, selecting appropriate channels, and determining budgets.
• Creating engaging ad content: Using visuals, clear messaging, and A/B testing.
• Measuring and optimizing paid brand presence: Tracking performance metrics and continuously refining strategies.

How the Modern PIM is Driving Growth with Automation and AI

The main presentation surrounding this topic focused on the role of modern Product Information Management (PIM) systems in driving growth. Some quick takeaways from that presentation are as follows:

• Overview of modern PIM solutions: Core features, data modeling, enrichment, and syndication.
• Importance of automation in PIM: Streamlining data entry, validation, and categorization.
• Role of AI in PIM: Leveraging machine learning to analyze product data and optimize information.
• Benefits of automating attribution: Reducing errors and increasing efficiency.
• Generating potent product descriptions using AI: Personalizing descriptions for different channels and audiences.
• Case studies of successful PIM implementations: Increased sales and improved customer experience.
• PIM's role in omnichannel commerce: Delivering consistent and accurate product information.
• Key considerations when selecting a PIM solution: Integration capabilities, scalability, and ease of use.
• Future trends in PIM: Natural language processing and image recognition for automation.

Getting the Ball Rolling With Customer Adoption in B2B Global E-commerce

The fireside chat focused on the importance of customer adoption in B2B e-commerce. Key insights discussed include:

• Customer adoption impacts revenue growth and sustainability.
• Develop a customer-centric approach with personalized experiences and data analytics.
• Address global e-commerce adoption challenges like cultural differences and regulatory compliance.
• Navigate B2B e-commerce distribution channels for efficient supply chain models.
• Build a comprehensive customer acquisition strategy using paid advertising and content marketing.
• Leverage AI for cross-selling and upselling to optimize customer lifetime value.
• Collaborate with technology partners for customized e-commerce platforms.
• Embrace emerging trends like mobile and voice commerce for innovative experiences.
• Measure and report customer adoption metrics for continuous improvement.
• De-risk e-commerce platforms with fraud prevention and data protection measures.
• Manage customer expectations for delivery times and product quality.
• Ensure robust disaster recovery and business continuity plans.

Where B2B marketers may have some changes to make compared to their B2C counterpoints is in maintaining transparency, authenticity, and ethical standards in marketing and sales. With additional focus in these areas, all the experts who presented agree that long-term relationships with customers will ultimately lead to long-term success…especially for manufacturers and distributors.

To address these areas for potential improvement, the industry expert presentations shared at B2B Online Chicago provided valuable guidance for increasing ROI, developing tech stacks, aligning sales, leveraging e-commerce, and succeeding in the marketplace model. It's clear that by embracing digital technologies, personalization, and customer-centric approaches, B2B businesses can enhance their marketing efforts, streamline operations, and drive revenue growth.