In celebration of our 10th birthday we’ve asked James Farmer, one of our founders and publisher, for his thoughts on the industry and to reveal future plans for the company
What’s your role?
Greaser, marketer, product developer, sales man, strategist, operation coordinator, number cruncher. I’m a Jack of all trades and master of very little.
How long have you worked in the B2B marketing industry?
My first adult job was as publicity executive, in the marketing department, within Reed Elsevier (RE). That was back in 1997. So, I’ve just started really. I still see loads of my old buddies from those days. You never forget your first job.
Why did you start the company?
Frustration. Before moving around RE, I was a full on direct marketer. I wanted to do well, so I needed to upskill, which meant reading and post grad training. At that time all marketing magazines and training were exclusively geared around consumer brand marketing. Though, I liked drinking Coca-Cola, reading about its Christmas campaign was no help to my career. There was an obvious gap in the market. I held onto that thought until I grew big enough balls to set a B2B marketing media up with my uni friend Joel Harrison.
How have you seen the industry change since starting the company 10 years ago?
Ten years ago you’d only admit to being a B2B marketer at the equivalent of an AA meeting. The shame on the family was too great. As a result, we’d choose to talk more about our vertical before our profession. Hence, the marketing profession was a silo in its approach. This put B2B’s progress at a massive disadvantage. Given there was no professional content to support the discipline and we only looked down our vertical (in some cases only competitor activity) the general approach to market stagnated. In contrast, consumer marketers, supported by publishers, had no problem sharing and engaging with information across verticals. No wonder business marketing built up a bad reputation.
However, there were many people out there who thought the same as us. On our launch, the agency and vendor markets were the earliest adopters and rallied around the fledgling media brand. They had real vision. Now, B2B is a widespread used terminology, without baggage, with cross vertical learning being the mainstay. A profession crystallised.
What has surprised you the most about how B2B has changed over the last 10 years?
Bar the longest and deepest economic downturn since sliced bread, and the accelerated change in our landscape driven by the digital revolution; not much. It has been mad.
With marketing budgets near evaporating in 2008, and a new trend of spend from page advertising to digital, nearly 60 per cent of trade magazines went to the wall. At one point I remember it seemed that every month a marketing title closed down or ‘went online’, before it disappeared into the abyss. Concurrently, those holes were filled by the ever powerful Google, self-publishing, email and social. Marketing and publishing now look very different to 10 years ago; and, on reflection, it’s for the better.
Sadly though, the last 10 years could have seen even greater progress for marketing, and for the customer. The digital revolution offered so many opportunities, but with budgets being cut, the free channels got most of the look in.
What’s the next big thing in B2B marketing?
It is as much about how businesses change around their customers, rather than marketing per se. Marketers should be influencing this change. It is no secret that putting your customer in the centre of your business is key. We now have the technology and the ideology to make that happen. Question is, will it actually happen tomorrow, or do we wait a further 10 years?
What does the future hold for B2B Marketing as a business?
We have to move with our member’s needs. There is a lot of development being done behind the scenes to enhance the platform and improve the offer. Our audience is increasingly international, so the need to produce more content for local markets is a big focus. Overall, we need to be delivering products that support marketing within a business content, rather than just as an independent channel.
What’s the most notable lesson you’ve learnt over the last 10 years?
Just because you have it right today, doesn’t mean you are set for tomorrow.
What’s the difference between B2B and B2C?
I hear this question knocking around a bit. Some ‘gurus’ say there is no difference. To a point they are right. B2B is now nowhere near as rubbish in comparison to B2C marketing. In fact, the recent Van Damme Volvo viral video is case-in-point.
However, creativity is only one part of the business marketing profession. It is the approach to unraveling the complex decision making unit and business buying cycles that counts. This is the differentiator between the two disciplines. Marketing high ticket goods/services, down the supply chain (B2B), is fundamentally different and needs unique skill sets, to those employed in marketing to an individual on the high street buying a can of baked beans from Tesco (B2C). Beanz meanz Heinz to me at home, but when buying in bulk for a huge restaurant franchise, a bean is a bean, with or without an extra Z. You have to understand my business needs first, to win my custom.
How would you sell B2B to a B2C marketer?
I wouldn’t… a criminal lawyer doesn’t sell his specialism to a tax lawyer. They talk general law to each other (they use the same tools after all), but both respect they could not try and do one another’s jobs (the law society would take issue as well I suspect). That sounds a bit wanky, but I believe it.
