RV190 - Q2 Wrap-Up & Strategic Budgeting | Go To Market Live Episode 20
Jun 18, 2024
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Discussing strategic budgeting for Q2 wrap-up, shifting investment strategies, measuring ROI in event marketing, importance of brand building in B2B, optimizing marketing activities with actionable insights, and adapting marketing tactics to go-to-market approach
Reevaluating budget allocations mid-year is crucial for optimizing event ROI and aligning with growth objectives.
Building a strong brand early in the buyer's journey is essential for vendor selection and success in B2B markets.
Shifting investment strategies towards targeted deal-closing activities can enhance event efficiency and ROI for companies in B2B marketing.
Deep dives
Reevaluating Growth Plans and Fiscal Year Ends
As Q2 ends, companies are reevaluating their growth plans, particularly around June and July, reflecting on meeting goals, making budget adjustments, and planning future investments. Recent trends show a shift towards reevaluating performance based on planning rather than merely relying on revenue outcomes.
2024 B2B Buying Disconnect Report Insights
A Trust Radius and Pavilion report titled '2024 B2B Buying Disconnect Report' highlights the importance of building a brand in vendor evaluation. Emphasizing that strong brands lead to vendor selection early in the buyer's journey, the report urges a holistic approach to brand building beyond marketing and content creation.
Budgeting at Large Organizations
Budget segmentation at large organizations can be challenging, especially at events like RSA, HIMS, or NRF, where spend allocation is complex due to the diverse attendee base and ecosystem focus. Strategic budget reallocation from extravagant event setups to targeted, deal-closing activities is crucial for optimizing event ROI.
Revisiting Event ROI Strategies
Reevaluating event strategies to focus on pipeline generation and deal acceleration rather than brand visibility is essential for maximizing event ROI. Smaller booths and specific goals aligned with closing deals can enhance the efficiency and effectiveness of event participation for capturing demand.
Key Steps in Developing a Go-To-Market Strategy
Elevating from traditional strategic marketing plans to holistic go-to-market strategies involves aligning business context, deep market insights, and a focus on changing customer perceptions. Targeting customer mindset shifts through tailored content, distribution strategies, and customer-centric insights drives successful marketing plans and sales conversions.
In this week’s event, Chris discusses crucial aspects of a B2B marketing strategy, planning for fiscal years, and the importance of reevaluating business approaches mid-year to ensure targets are met. As Q2 comes to a close, Chris shares his thoughts on navigating the planning process for the rest of 2024, emphasizing the potential shift in investment strategies companies might consider to maintain or adjust their growth trajectories, especially amid varying economic pressures.
Throughout the discussion, Chris critiques traditional approaches in event marketing and budgeting, underlining the importance of measuring actual ROI from events and contrasting it with digital strategies and newer methods of demand generation. He also highlights the growing significance of brand building in B2B, while cautioning companies on the nuanced approach required to truly leverage brand strength. Addressing common challenges in optimizing marketing activities, Chris provides actionable insights and reflective questions that listeners can apply directly to their respective strategies.
If you want to have a conversation with Chris and present your current questions, roadblocks, or projects you’re working through, make sure to attend this weekly event every Tuesday at 12 central. Register here.
Can’t make the event but have a question for Chris? Submit it here.
Thanks to our friends at Hatch for producing this episode. Get unlimited podcast editing at www.hatch.fm
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