When it comes to the future of B2B demand marketing agencies, there are a few key things to consider. Firstly, the traditional agency model is no longer sustainable – clients are looking for more integrated solutions that can provide value across all channels.
Secondly, the line between B2B and e-commerce is blurring as more and more businesses move online. It will take some time for these changes to fully take effect, but when they do, demand agencies that don’t adapt will be left behind. There will also be a number of challenges that future demand agencies might face, but with the right strategy in place, they can overcome them all. In this blog, we’ll be discussing all these points in detail and will also be sharing some tips on how these future agencies should operate.
Also, if you want to catch a detailed conversation on this matter, then tune in to the latest episode of The B2B POD. Now available on all the leading audio streaming platforms like Spotify, Google Podcasts, and Stitcher
What is the future of B2B demand marketing agencies?
In the past, demand marketing agencies could get away with a one-size-fits-all approach to marketing, but now clients are looking for more customized and integrated solutions. Agencies that don’t adapt to this new landscape will be left behind.
With the B2B landscape changing so rapidly, it can be hard to keep up with the latest trends. But if there’s one thing that we can be sure of, it’s that the future of B2B demand marketing agencies will look very different from the past.
The traditional agency model is no longer sustainable
With the B2B space evolving, clients no longer find the traditional specialist approach useful. Earlier B2B clients used to work with a number of different agencies to fulfill different roles. But today that’s not the case.
B2B clients today prefer an agency that takes up a consultant approach. In this approach, one agency collaborates with different agencies to accommodate the needs of their clients. This is done by developing a deep understanding of their client’s business and then using that knowledge to provide them with the best possible solution.
The traditional agency model is losing its relevance because it doesn’t offer the same level of customization or integration that clients now demand.
The rise of the integrated agency
As the traditional agency model falls out of favor, we’re seeing the rise of the integrated agency. This new type of agency is able to provide a more holistic service by working with different specialists to fulfill all the needs of their clients.
The benefits of this approach are two-fold. Firstly, it allows agencies to offer a more comprehensive service to their clients. And secondly, it helps to build a closer relationship between the agency and the client, as they are working together towards a common goal.
If you’re an agency that’s looking to stay ahead of the curve, then it’s time to start thinking about how you can become more integrated.
In our latest episode of The B2B POD, we asked Anthony Riley, CEO of the Annex Group, what are his thoughts on integrated agencies?
This is what he had in his mind:
“In B2B it’s more important than any other space to deeply understand your client’s business. If I look at the model that we’re kind of using today, where you might have your brand agency, your demand agency, your social agency, a media agency, maybe even like a digital agency, that model feels a little old-school. I think there’s a newer way to think about that because the one thing that B2B marketers don’t have today is time and they don’t have time to work across all of those agencies and activate them to do the dot-connecting for those agencies. I think there’s a smarter way to do that. I call that way an intelligent integration or an intelligently integrated agency.”
Is the line between B2B and e-commerce merging?
With B2B agencies moving towards a more integrated approach, we’re starting to see a merging of the lines between B2B and e-commerce.
In the past, these two areas were quite distinct, but now we’re seeing a blurring of the boundaries. This is because an integrated approach is often more effective for B2B clients who are looking to sell online.
The reason for this is that an integrated agency is able to provide a complete solution that covers all the bases, from branding and design to website development and e-commerce.
If you’re an agency that’s looking to stay ahead of the curve, then it’s time to start thinking about how you can become more integrated.
When asked if the line between B2B and e-commerce are merging, Anthony Riley said:
“We’re recognizing that just because you and I right now are in our work environments, we don’t become robots. We are still humans. And this understanding has led to the need for different types of work and different types of experiences within the B2B space. Whether that’s e-commerce or other, what excites me about it is. The new canvas that’s now created for the B2B marketer and what that does for the agency.”
This brings us to our next point.
How long will it take to see the evolution of these agencies?
The answer to this question is that it depends.
Some agencies are already starting to move towards an integrated approach, while others are still lagging behind.
It’s likely that we’ll see a split between the two in the near future, with the traditional agencies being left behind and the more progressive agencies moving ahead.
However, if we go by the regional trend, then it’s likely that we’ll see a more unified approach in the future.
In our latest episode of The B2B POD, we asked Anthony Riley the same question and this is what he said:
“I think it’s happening very rapidly, especially in the B2B space. Because what we’re seeing in North America is rapid consolidation within the B2B agency community. Every single week. There’s news of another agency that’s within the top 30 league tables being purchased by another agency.
I think all of us see that given the same growth that we talked about in the B2B space, there is an increased need to deliver globally for the global marketer. so I think that consolidation is doing a couple of things. One, it’s leading agencies in the B2B space that are larger, that have more capabilities, to deliver on that intelligent integration promise. For the agencies that aren’t part of that consolidation. It’s forcing them to form partnerships with other agencies to deliver on that same promise.”
However, to become an integrated demand agency, these agencies need to get over some challenges that might hinder their trajectory.
Challenges future demand agencies might face
Challenges are a part of every business and the B2B space is no different.
The challenge for future demand agencies will be to keep up with the changing landscape and to evolve their offering to meet the needs of their clients.
In order to do this, they’ll need to be agile, adaptable and willing to experiment. Here are some challenges these agencies need to be on the lookout for.
Keeping up with rapid changes
B2B is a rapidly evolving space and it can be difficult for agencies to keep up with the changes.
This is because, as new technologies and platforms emerge, they need to be quickly adopted in order to stay ahead of the competition.
However, not all agencies are able to do this effectively and they end up falling behind.
A good way to overcome this challenge is to have a dedicated team that’s solely focused on
keeping up with the latest trends and technologies.
This team can then share their findings with the rest of the agency so that they’re able to quickly adapt and implement the latest changes.
Dealing with a personnel change
Personnel changes are bound to happen. Either on the client-side or the agency side.
And when they do, it can be difficult to maintain the same level of service.
This is because, with personnel changes, comes a change in the way things are done. For example, if a new client comes on board, they might have different expectations from the agency. Or if an agency loses a key team member, it can be difficult to find a replacement that’s able to match their skills and experience.
The best way to overcome this challenge is to have a clear and concise process in place.
This process should be followed every time there’s a personnel change so that everyone is on the same page and knows what’s expected of them.
Building deep trust
Trust is a key ingredient in any successful relationship. And this is especially true for the agency-client relationship.
The client needs to trust that the agency is able to deliver on its promises and the agency needs to trust that the client will provide them with the necessary information and support.
However, building this deep level of trust can be difficult.
One way to overcome this challenge is to be open and honest with each other from the start. This means being transparent about what you can and can’t do, setting realistic expectations and being clear about your objectives. By doing this, you’ll be able to build a foundation of trust that will last long into the future.
3 tips for the future demand agencies
Successful demand agencies of the future will need to be agile, adaptable and have a deep level of trust with their clients. Here are three tips that will help them on this journey.
Tip 1: Stay on top of the latest changes
The B2B space is constantly changing and it can be difficult for agencies to keep up.
The best way to overcome this challenge is to have a dedicated team that’s solely focused on keeping up with the latest trends and technologies. This team can then share their findings with the rest of the agency so that they’re able to quickly adapt and implement the latest changes.
Tip 2: Be open and honest
Building trust is essential for any successful relationship. And this is especially true for the agency-client relationship.
Honesty is the key to a healthy relationship. Be honest about what you can and cannot do, and set realistic expectations with your partner from day one so that they know where their needs will be met or not met in order for this partnership to work long-term.
Tip 3: Be comfortable working with different partners
As the B2B market continues to grow and evolve, so too will the types of partnerships that agencies form.
In order to be successful in the future, agencies need to be comfortable working with different types of partners. This could include technology providers, content creators, or even other marketing agencies.
By being open to these different types of relationships, agencies will be able to provide their clients with the best possible service and results.
These are just a few things that future demand agencies need to keep in mind if they want to be successful.
We asked the same question to Anthony Riley in our latest episode of The B2B POD. This is what he said:
“Three tips I’d give to the CEOs of these future agencies would be. One, be open to thinking about new ways of working. And that requires some vulnerability. I think a lot of agency CEOs are very proud of what they’ve built, a little bit less open and more vulnerable about where they can improve.
Two, would be to get comfortable working with different partners and not assume that you can do everything on your own. Do what you do very well and then be comfortable working with agency partners to support you in other sectors that can support you in furthering your value.
Three, start pushing your clients to be a part of the change. If we don’t as an organization or an industry start having these types of conversations with our marketing clients about how we can do things better and how we can evolve, then the change won’t happen. So start pushing from the top.”
In closing
The future of B2B demand marketing agencies is dynamic. However, by staying on top of the latest changes, being open and honest with clients, and forming partnerships with different types of organizations, these agencies can set themselves up for success. What other tips would you add? Let us know in the comments below!
If you enjoyed this article, be sure to check out our podcast where we talk about this topic in detail. Also, for more B2B marketing-related content, don’t forget to tune in to The B2B POD. It’s available on all leading platforms like Spotify, Google podcast, Apple podcast, and Stitcher.
