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In the three-part series on B2B panic marketing, MarketingProfs will share some common causes of the all-too-common B2B panic marketing problem. We’ll also provide some tips and tricks to help marketers refocus on what matters most to their organization.
Imagine you’re at your doctor’s office demanding the latest medical procedure you just read about on a blog. Your doctor knows your medical history and also knows that the procedure is unnecessary and potentially risky for you. However, she nods, cancels all her other appointments for the day, and performs the procedure.
Well, in the world of marketing, frenetic scenarios like this happen every day in businesses; they reflect what is called panic marketing, which is not good for anyone.
150 Fortune 3000 CEOs from 13 industries were recently surveyed. Only 34% said they have a lot of trust in CMOs. 38% of respondents said it was because CMOs lacked the skills needed for the changing marketing environment, and 21% said it was because CMOs had difficulty measuring the business results of marketing programs.—CustomerThink
Defining panic marketing
To discuss this all-too-common problem in many organizations, we must first offer a broad definition of panic marketing.
For MarketingProfs, panic marketing is as the name suggests – it refers to marketing teams operating in a constantly reactive state. Many root causes fuel this type of marketing, just as there are many reasons why marketing teams may need to react quickly.
You might be doing panic marketing if…
- Marketing and sales are not aligned: A sales manager emails your team and says, “We’re sponsoring an event taking place next week and we need marketing support.”
- Your organization has shiny object syndrome: A senior executive goes to a conference, hears about the latest marketing buzzword, and then wants your team to start doing that activity now.
- Your organization has a precarious top-down view: The lack of a high-level strategy or goals for the various departments (sales, marketing, product) to rally around often results in teams doing whatever they need to do to meet their department’s goals. department.
- Your marketing team doesn’t have the power to push back: Marketing should be a revenue generator for your organization, even in a complex B2B sale, but can you speak in a way that will get other leaders to listen?
“80% of marketers say they are overworked and understaffed.”—Adweek
Why You Need To Fix Reactive Panic Marketing Now
- Team stress and poor retention. No one likes to work in a constant state of chaos. Thoughts that your organization does not understand the increased value of marketing in such an environment. According to studies, employees are happiest and most engaged when they have clarity and meaning in their roles. Finding new employees is a major waste of time and expense for an organization. Ensuring your team is happy and engaged can significantly affect a company’s overall performance.
- Your organization does not have its figures. Marketing, though often overlooked, is part of your organization’s growth engine. By setting specific, measurable ROI goals (e.g., increase in qualified sales leads, positioning an organization for an IPO or sale, increasing sales in specific accounts), marketing can have a significant impact on revenue growth.
- Inconsistency in brand/message. If your marketing team is in a constantly reactive state, there is no cohesion in what it produces. This creates disconnected product and brand messages. In an already crowded marketplace, it’s increasingly difficult not only to find your voice, but also to claim your share. Inconsistency can cause your sales numbers to plummet or force your sales team to do even more to close a deal.
- Business disappointment. Executives have been told repeatedly that marketing should have a seat at the executive table, but they’re still not convinced. Panic marketing is a major cause of executive frustration. This can then lead to layoffs of marketing teams, budget cuts, stagnant career paths, and high employee turnover.
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Although panic marketing may seem overwhelming and just “as it is here”, it can be dealt with and changed.
The rest of this series of articles will dive deeper into the common causes of panic marketing and offer some tips on how to overcome them.
Next Step: How to Stop Shiny Object Syndrome in B2B Marketing
More Resources on Marketing Strategy and Avoiding Panic Marketing
A Marketer’s Field Guide to Setting and Measuring Financial Goals | Master Class MarketingProfs
Revenue Operations: the new Go-to-Market leader
Creating a Better Audience Experience: Oli Gardner on Marketing Smarts [Podcast]