Our Top 7 Takeaways from the Drum’s B2B WorldFest November 2023

Last week we joined The Drum’s B2B World Fest 2023 to hear from multi-billion-dollar brands how B2B is their new engine for growth.

So what are the new strategies for success? What does ‘raising the bar creatively’ look like in a business buying context? Is B2B really that different from B2C?

Here’s our 7 takeaways from what proved to be an inspiring day:

1. B2B strategies start with a customer promise.
   Sounds obvious and yet often lost in favour of broader brand messages or specific product messages.

2. By the time your business buyers are active, they already have a shortlist.
   Only 5% of a business audience are active at any given time, which means future revenues will come from today’s passive buyers.  

3. Business buying is a group decision, and the default state is indecision.
   The fear of messing up, far outweighs the fear of missing out. Decisions are far more likely to be made if there’s collective consensus.

4. Business and consumer communities are coming together.
   Hybrid working, conscious buying and the recognition that business buyers are people too, is bringing employees, customers and consumers together behind issues, and giving brands an opportunity to find common ground.

5. Committing to creativity in B2B.
   Creative cultures require commitment if B2B marketing is to shift from tactical, product-based marketing to more emotive campaigns and storytelling.

6. Embrace AI, but responsibly.
   It will change the world as we know it but we must embrace AI responsibly while regulations catch up with advancements: if you can’t audit or track it, don't use it.

7. CMOs must continue to engage the C-Suite.
   CMO’s need to seize the opportunity of growth in B2B and greater influence at board level. Identify what will drive business impact and not just marketing metrics.

Chromatic is a creative consultancy that helps B2B businesses to stand out and stand up for the things that matter to employees and customers. If you’d like the full article or would like to delve into any of these areas mentioned here in more detail, please contact: rachelle.headland@chromaticbrands.com