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Happy New Year!
As we bid farewell to the challenges of the past year, we step into 2024 with renewed optimism, energy, and a commitment to achieving unparalleled success. I trust you had a relaxing holiday season and are ready to embark on a year filled with growth, prosperity, and… the same old sales and marketing tactics??
With AI being the current buzz… it’s tough to imagine marketers relying on the tried and tested (and existing) strategies. But I’m hearing that from many in the industry… do they continue to focus on the same old, same old?
It makes me think of this cool (and appropriately titled) song by Aerosmith – give it a listen as we see what the experts are saying this week.
Same Old Story
As I discuss 2024 plans with clients, the Forrester B2B Revenue Waterfall (formerly known as the SiriusDecisions Demand Waterfall) invariably comes up.
What is it about the waterfall that makes it so useful? Sure – it’s a common language between sales and marketing when you’re discussing demand generation and activity stages. But it’s not new. Even when it was introduced way back in the early 2000s, it wasn’t a new concept. Same old story… but with a new twist, right?
Sometimes it’s not about reinventing yourself or your processes. A new year doesn’t ALWAYS have to be a new you! Maybe it’s just a tried and tested campaign or process – and it’s all about focus for the upcoming year.
Concepts like ABM have been around forever in B2B – are they going away? What are you seeing at your organization? Maybe you’re changing things up by trying out new tech and tactics. Or is it more about putting a new spin on those same old channels and campaigns?
Same Old Song (and Dance)
I’ve been seeing a ton of stats about the state of music sales and consumption in 2023. The BBC’s coverage of it highlighted a startling stat: not a single new album released in 2023 made it to the list of the year’s top-selling albums, OR achieved platinum status!
A positive angle on this could be that the recorded music market has grown explosively, so consumption is more fragmented than ever. Another might be that we’re moving into a “post-superstar” age, where new artists simply never reach the long-term stability and success of Madonna or Prince.
2023 being the first year in the UK that not a single new album graced the Top 10 is something we all need to think about. For catalogue owners, especially major labels with extensive back catalogues, all consumption translates to revenue, making this a positive business scenario… but this short-term win is arguably at the cost of a longer-term (and greater) loss.
The bigger concern is what this means for music and culture in general, and what it means for things like live music and festivals which may, in years to come, find themselves struggling to secure noteworthy headliners.
Is this failure to outsell catalogues because of A&R (artists & repertoire), investment in marketing, strategic error… or simply circumstances beyond everyone’s control? Are we seeing this same fragmentation in our B2B world?
Ain’t gonna change it, can’t rearrange it… so if we in B2B are staring down these challenges too, then we need to pivot to meet them head-on. Think back to those changes for the new year – whether it’s new tech and tactics, or a new spin on the tried and true, how will you take on these changes?
Let me know what you think… and as always, don’t hesitate to call me to brainstorm or just say hello!
Rick Endrulat, President | email@example.com | www.linkedin.com/in/rickendrulat