With 70% of the B2B buyer journey taking place before any contact with sales, marketing and sales are increasingly merging into a single function, according to Gemma Livermore, international financial services marketing director at Seismic.
On the final day of Money 20/20 Europe, the official theme of “growth” sparked discussions around marketing’s growing recognition as a driver of growth, and its gradual integration into the sales function, rather than existing as a separate entity.
One of these conversations was from Livermore during a panel hosted by Ashley White-Jones, head of Financial Narrative, who noted that while trading has always relied on human interaction, the internet has fundamentally shifted how people seek information.
Whatever consumers do in life, they now research it before entering the sales cycle, she said. This has caused marketing to now become part of the sales cycle.
She added: “Those long-term marketing goals and sales goals are the same thing, and the marketing has actually become that initial start of the sales side.”
Fellow panellist Ellen van Meerendonk, lead of financial services at LinkedIn Marketing Solutions, agreed that marketing should play a role throughout the entire buyer journey. She emphasised the importance of marketing in building awareness and creating the memory links that help potential customers feel seen, not just by sales, but by the brand as a whole.
She added: “That continuous long story needs to be told in order to gain those short term sales objectives as well. It’s about measuring throughout the full trajectory, understanding the framework the consumer moves through, how to follow them and how to reach that audience with precision using data, targeting, but also with content and creativity.”
White-Jones highlighted the importance of deploying marketing strategies that build brand awareness, for example, before a customer begins their buyer journey, noting that the idea of only speaking to someone once they’re actively on a buyer journey is outdated.
She said: “ They would have heard of you well before they’re actually on that journey, hopefully.”