Two very different reports on the state of B2B marketing hit my desk this morning.
The first is a new report from B2B Marketing on the contribution of the B2B industry to the UK economy based on a survey of 809 senior UK managers. The headline is that 80% of all UK firms derive at least some of their income from B2B. And 44% of UK turnover comes from B2B activity. The report then goes onto break the activity down by sector and by region, which is worth a look. But the big news is that B2B is a big part of the British economy and not to be overlooked.
Compare this with the second report of the day. This one is from McKinsey and is entitled “Unleashing the CMO in B2B insurance”. The headline here is that “unlike their B2C counterparts, many B2B insurers do not consider marketing a vital function…”. The report goes on to articulate some key steps that CMOs can take to address this. The advice is sound: stakeholder management, de-siloing, tying marketing to the bottom line.
B2B marketers have a big role to play in maintaining and growing the value of B2B in Britain. We’ve come a long way but there’s a lot still to do.