The B2B publishing and information industry, like the greater media ecosystem as we know it, is in the midst of an inexorable, irreversible, and unrelenting period of change.
That was about the only thing universally agreed upon over three days of refreshingly honest exchanges among several of business media’s most high-profile executives and strategists.
Debra Walton, Global Managing Director of Thomson Reuters’ 4,000-employee-strong financial and risk division, outlined a handful of major trends her company anticipates will most impact the business information industry going forward.
Among them: companies must be prepared to handle ever larger amounts of data (by some estimates as much as 20-times more by 2020); greater regulatory oversight of the way companies collect data, particularly from individuals (the upcoming implementation of GDPR, despite applying only to residents of the European Union, loomed like a shadow over many of the conference’s discussions); disruptive tech, like cloud computing and artificial intelligence; and “millennial ways of thinking,” such as the fact that young people hate paying for information they can access for free elsewhere.
Asked how the panelists were adapting, Scott Mozarsky, Legal Division President, Bloomberg BNA, said salespeople need to take on a more consultative role and be well-versed enough in data to sell products like visualization or segmentation tools. “Every aspect of the organization needs to change,” added Ethan Eisner, VP, ReedTech. “We’re now entering categories that didn’t even exist before. It’s a whole new way of selling.”
Hanley Wood, CEO, Peter Goldstone said he views his company’s database as its most valuable asset, but noted that a similar disconnect seems to exist between marketers’ perceptions of print and the ways in which people actually consume content.
Greg Dool. (2017, Nov. 16). Where is B2B Media Going? It’s Anyone’s Guess. Folio:.
Every two years, the Marketing Science Institute (MSI) asks every member company Trustee to provide input to help set priorities for the research that will guide our activities for the next few years.
These priorities enable MSI to engage in its most critical mission: moving the needle on important marketing problems.
One of the priorities focuses on the need to develop new approaches that enable firms to gain insights from multiple approaches, to synthesize, to bring together disparate methods to drive action. There is also a sense that the old methods aren’t working as well, and that some of the traditional indicators and metrics are less effective.
Here are some topics that illustrate where significant research is needed in this area:
Ken Bowen, writing for Marketing Sherpa’s blog, discusses the study, “Missing the Mark: Global Content Survey of Brand Marketers and Their B2B audiences.” This survey of 500 global business executives and 500 global marketers focused on content strategy and content marketing. It was conducted by The Economist in association with the market research firm Peppercomm.
-Though marketers are increasing their investment in content, content strategy remains poorly understood organizationally.
-There is a massive disconnect between the content that business executives seek and the content that marketers provide.
-There is an equally large disconnect between the goals of content marketers and the KPIs they use to measure success.
-Content medium is very important to business executives.
Applying the findings of this study will result in more effective B2B content strategy and marketing.
See all 5 Cups articles.
For more on this topic, check out the Marketing Tab in Morning Coffee.