Three C-words agencies of the future must swear by
Web3, Agency 3.0, and now the three C’s of B2B marketing – three really is the magic number for CMOs and the future of agency survival.
Warning – this article contains strong language. Nothing expletive, but a strong message to B2B agencies out there: adapt or be replaced. Here’s why.
In a recent LinkedIn survey, 47% of B2B leaders said that the CMO role has evolved to have a more direct bearing on driving revenue and growth; and they are expected to demonstrate an impact on the bottom line.
Clearly, the days are gone when marketing in B2B organisations was the ‘PowerPoint Department’ – a mere functional operation, separate from commercial, sales, or wider business activity.
In B2B, marketing is now the place to be because it’s where all departments converge. It’s the epicentre of customer data, the B2B CMO at its helm with the most up-to-date view of challenges and needs of global business.
But, as we all know, with great power comes great responsibility – and even greater expectations. For B2B CMOs, this new elevated position gives them more power, however the demand on them to deliver is even greater.
As trusted partners, marketing agencies must be proactive and adapt. They must transform alongside the shifting role of the CMO to meet their changing demands and go beyond the ‘collaborative partner’ approach.
The ever-increasingly complex world of global B2B markets requires a convergence of three core disciplines – the three C’s – and, if marketing agencies are to survive the future, these must become gospel.
The three C’s of B2B marketing
The CMO role has evolved to cover a vast remit. As such, today’s leading B2B marketing agencies are expected to demonstrate expertise across three critical areas:
1. Creative
Today’s B2B CMOs require expert consultancy, strategic guidance, creativity and execution across brand and demand activity – an ideal partner will understand the combined power of brand and demand, whilst holding the expertise to execute through direct and indirect sales, spanning all marketing channels, and across multiple geographies concurrently; all whilst adapting the proposition, messaging, creative and approach to meet the needs of differing audiences.
2. Commerciality
A step beyond ‘creativity’ – today’s leading B2B marketing agencies must be global business consultants; able to advise on market opportunities, go-to-market strategies, and understand the reality of evolving business models like partner ecosystems.
Add to this, an appreciation of wider business challenges, including talent acquisition and retention, supply chain management, ESG and sustainability topics, an understanding of global corporate structures, risk and compliance, and an appreciation of the intricacies of investor relations.
Layer on top a deep understanding of global industries and the nuances of specific industry verticals and you’re onto a winner.
3. Consultancy
It’s not about being able to ‘handle’ Eloqua. Nor is it about recommending Salesforce over HubSpot, or vice versa. Today’s CMO requires more technology know-how and consultancy from global B2B agency partners than ever before. From web builds, web hosting, redirects, technical SEO audits, data cleansing and data strategy, privacy and consent management, CRM and martech integrations, digital asset management solutions, talent acquisition platforms, employee advocacy solutions, social, media and brand tracking solutions, global marketing reporting dashboards.
An agency that can assess all stakeholder needs, see the wood for the trees, and make a practical recommendation – and then make it happen; is worth its weight in gold.
The agency of the future exists at the intersection of these three growth drivers, driven by the elevated standing of ‘marketing’ within B2B organisations.
Agencies can’t afford to only be executors. Failure to evolve and keep pace with an ever-changing B2B world makes agencies dangerously replaceable. CMOs will quickly realise they can achieve similar results internally and, without nurtured relationships with leaders across the business, agencies will have little recourse to salvage the work.