Recently, while at an event, I had a discussion with a marketing director at a large law firm here in Boston. The subject of online lead generation was brought up and here was his knee-jerk response:
“We are not interested in online lead generation at the law firm, because we’re primarily a business to business law firm and we only get business from known referrers.”
I found this response odd, as most of our clients are in the B2B space, but not surprising. Many people are not privy to the current data and trends surrounding social media, online marketing, and purchasing behavior for the B2B buyer. I immediately informed him that we work with many law firms, accounting firms, and consulting firms in the B2B space. I supported my statement by sighting recent data and statistics from reports and studies by Forrester Research, MarketingSherpa, MarketingProfs, and B2B Magazine. I stated that nearly all of the data and qualitative analysis suggests that B2B buyers of technology and/or services are influenced by social media, and that most B2B marketers plan on increasing their online marketing spend in 2009.
Here was his second response:
“Well, we don’t want that type of business that you get online”
Huh? It was like someone claiming that they don’t want the business they get from public relations, advertising, direct marketing, or even networking. In my response, I explained how one of our professional service clients (that offers audit, tax, consulting, and wealth management services – with over 400 employees) is averaging over 20 new business leads per month, and has generated over $600,000 in new contracts that directly resulted from, and are tracked by, our efforts over the last 6 months. I also cited how when I have made purchasing decisions for our 20+ person agency in the past, I was greatly influenced by product reviews and advice/referrals from individuals in my LinkedIn groups, as well as from content that I downloaded online and from search results on Google. He still wasn’t buying it and so I moved on.
Later in the day I asked myself, “Why wouldn’t someone want this type of business (from online sources)?” I thought about what he said and equated his statements to something like “We catch fish using fishing rods, nothing else. We don’t want to try using nets, fishing boats, or any other means because we don’t want the type of fish that you catch using these tools.”
Thinking in these terms helped me to understand that there really was only one answer to my question… It wasn’t that this marketer didn’t want this type of business (as I am sure the firm’s leaders would agree); it was just that this person didn’t want to engage in an activity that he didn’t fully comprehend. This is a very common issue among c-level marketing execs.
My conclusion led me to another question—with social media adoption (for general usage) among B2B buyers growing at a much higher percentage rate than that of B2B marketers (for marketing purposes), wouldn’t it make sense that the marketers who embrace this shift in purchasing behavior at an early stage also be the ones that realize the greatest benefit (i.e. the largest “catch”)?
My advice to any person in a senior marketing role is to educate themselves as quickly as possible on the current trends, data, and purchasing behavior of the B2B buyer and how the Web is influencing and impacting their purchasing decisions.
“If you don’t like change, you‘re going to like irrelevance even less.”— General Eric. Shinseki, retired Chief of Staff, U. S. Army