Last week, our partners at DemandGen announced the formation of the DemandGen Alliance — a consortium of the leading B2B marketing technology companies, including Leadspace, whose goal is to help marketers benefit from the incredible advances in MarTech over recent years.
As Leadspace CEO Doug Bewsher has noted, this incredible growth presents an immense opportunity for marketers across every industry. But the MarTech explosion also brings with it significant challenges, as marketers often struggle to make sense of all the noise, and find it difficult to build holistic marketing stacks which effectively integrate all the individual technologies they adopt. As a result, studies have shown that unwieldy and poorly-integrated marketing stacks are the number one challenge facing B2B marketers today.
Making cutting-edge technologies like Artificial Intelligence (AI) and advanced marketing analytics more accessible, adoptable and practically useful for marketers has been a driving vision for us at Leadspace. It’s this vision that inspired our B2B Audience Management Platform — the first such platform combining Big Data and AI/predictive intelligence in the business-to-business field. It’s also what spurred us to bring together the Marketing Technology Industry Council, whose research is already shaping the MarTech narrative, and more importantly helping B2B marketers of all kinds to capitalize on the technology that’s available to them.
And of course, in today’s B2B world in particular, what’s good for Marketing is good for Sales too. B2B Sales teams increasingly rely on their counterparts in Marketing to generate pipeline by increasing engagement and guiding more qualified prospects down the sales funnel. The feeling is mutual: in a recent survey of senior B2B marketers by the Marketing Technology Industry Council, 70% of marketers said their top business goal is to provide more leads to Sales and increase customer acquisition and retention.
Trends like account-based marketing (ABM) have reinforced this movement considerably. ABM requires Sales and Marketing to collaborate closely at every stage of the funnel, and even after a deal is closed: from drawing up lists of named accounts to target, to mapping buying centers within those accounts, to engaging those key decision-makers and influencers in the right way, at the right time.
Given that nearly half of B2B companies are either already doing ABM or planning to adopt it this year, according to the latest State of Account-Based Marketing, it’s fair to say this newfound cooperation between Sales and Marketing is fast becoming the new norm.
However, for this Sales-Marketing alignment to be realized in practice, businesses need to ensure their technologies align across departments. A set of recommendations by the Marketing Technology Industry Council advised that in particular, Sales and Marketing should ensure they are working from the same data sources. There are encouraging signs that many marketers already recognize this — for example, the fact that CRMs have overtaken Marketing Automation Platforms as the most popular technology among marketers.
The DemandGen Alliance represents another step in the right direction, by “establishing a best-in-class ecosystem of trusted marketing technology providers that will assist the marketing community with adoption of these powerful digital marketing systems.”
We look forward to participating in this important initiative together with other MarTech leaders, and to continue building our network of industry partners!
Is your marketing stack build for success? Download the Modern Marketer’s Guide to Building an Effective MarTech Stack: