In a recent report, the CMO Council identifies the top 10 ways to create marketing ecosystem value. For sure, everything looks good on paper, but in my opinion, it doesn’t take into account local markets and ground realities. How can you replicate the same strategies for different marketplaces? In a typical scenario, the CMO yields the power of marketing policy. The pendulum has swung way too far on that end. I reiterate what I said before – about finding middle ground.
I marvel sometimes at the timeless, ageless wisdom of ancient sayings. Many of them may sound clichéd but there’s no denying the fact that they are eternally relevant and useful to remember. Think about this one, “When in Rome, do as the Romans do”. Simple, classic, and just as true now as it was centuries ago.
Not every CMO who decentralizes marketing and places autonomous power in the hands of local marketing teams may have thought about these wise words. But by localizing B2B marketing, these organizations can undoubtedly kick their demand generation up several notches.
Those who argue that tailoring lead generation initiatives and overall go-to-market strategy is for small companies, have strong reason to change that opinion; radically. And one word can make that change…Google. As of November 2010, the largest search engine in the world has become a local search engine and is focusing on building market share in various rapidly growing markets around the world.
A recent eMarketer article cites a survey that found 90% of national agencies’ clients were in favour of stepping up geo-targeted online ad campaigns. Even though the respondent base was quite small, it was representative of mostly large agencies with annual revenues of $500 million and upwards.
Online advertising is only one small element in the integrated marketing mix. There’s a lot that B2B companies can do to tailor their lead generation and marketing efforts. CMOs would do well by placing greater faith, trust and confidence in their teams and local area experts. Yes, there is an element of risk in trying something new. But there is also greater joy in experiencing better than expected results.
So, while it’s easy, risk-free and always available, I’d say – toss aside the predictable taste of vanilla and get a fresh “scoop” of geo-targeting. If a giant like Google can be nimble, proactive and successful with decentralization and localization, then no company, big or small has any excuse to allow arm-wrestling between the C-Suite and key marketing personnel in the trenches. Give it a shot; you’ll find it will be worth it. And not just for the sense of adventure but for the numbers, the quality of leads and the profits.
Has your B2B organization broken out of the vanilla marketing cocoon? Maybe it’s time to get your feet wet with geo-targeting, spread your wings and start reaping the benefits of a market-specific approach. Have questions or comments?
