The Evolution of Demand Generation
ABM/ABX 06.15.2023

The Evolution of Demand Generation

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Shownotes

In this episode of Sunny Side Up, host Erik Blaze interviews Jay Hinman, the VP of Marketing at Vibes, a trusted mobile engagement platform for enterprise brands. They discuss the evolution of Demand Generation (Demand Gen), highlighting how it has transitioned from being seen as a cost center to a revenue center, largely due to advancements in cloud-based marketing automation platforms and the rise of Account-Based Marketing (ABM). He delves into the shift in success metrics in the field and how Vibes helps brands nurture customer relationships on mobile platforms. Jay further explores the engagement gap between email marketing and mobile app marketing and the future of mobile marketing technology. Finally, they discuss navigating economic downturns and the power of testing and learning from small successes.

About the Guest

Jay Hinman is the VP of Marketing at Vibes, the most trusted mobile engagement platform for enterprise brands. Jay has been a B2B marketing leader for over twenty years at both large global companies (Opera Software, MobiTV) and Silicon Valley start-ups (Lily AI, Neumob, DigitalGenius). His focus has been on “full-stack” marketing leadership across demand generation, product marketing, branding, and positioning, as well as on developing high-performing, revenue-enhancing marketing organizations.

Connect with Jay Hinman

Key Takeaways

  • The discipline of Demand Gen took flight with the advent of cloud-based marketing automation platforms and ABM platforms.
  • Around 2012-2013, B2B marketing became more analytical and started being viewed as a revenue center.
  • Success metrics in Demand Gen have evolved from focusing on leads to qualified leads to marketing’s influence on closed deals.
  • Mobile marketing bridges the gap between high reach, low engagement email marketing, and low reach, high engagement mobile app marketing, addressing the “engagement gap.”
  • Mobile marketing allows for personalized and segmented marketing through SMS and MMS.
  • There is a growth in engaging multimedia in SMS messages.
  • Economic downturns necessitate a focus on what works, deprioritizing ineffective methods and doubling down on effective ones.
  • Mobile marketing can be a valuable tool in driving customers back to physical stores in a post-pandemic context.
  • It’s crucial to be smart about testing small things and to double down on what works.

Quote

“B2B marketing became far more analytical and began to be seen as a true revenue center, rather than a cost center.” – Jay Hinman.

Highlights from the Episode

Could you explain how demand generation has evolved over the years from your perspective?

Jay explained that the evolution of demand generation took off with the advent of cloud-based marketing automation platforms such as HubSpot, Pardot, and Marketo. The key shift came around 2012 or 2013 when B2B marketing became more analytical and started to be viewed as a revenue center instead of a cost center. This shift, coupled with the rise of Account-Based Marketing (ABM) and revenue platforms like Demandbase, led to a new class of marketers who focused on core demand gen metrics.

How did demand generation work before the emergence of modern tools?

Before modern tools, Jay explained, marketing was more focused on generating leads rather than prioritizing lead quality. As a result, there was often tension between marketing and sales because marketing would meet their lead targets, but sales struggled to close deals due to poor lead quality. The understanding and application of pipeline coverage evolved.

Could you share some insight on the evolution of success metrics in demand generation?

Jay shared that initially, the focus was on lead quantity. Over time, it shifted to qualified leads and then eventually to understanding opportunities. The rise of platforms like Demandbase, Terminus, and 6sense enabled a more comprehensive view of accounts. Now, Jay focuses primarily on marketing-sourced or influenced opportunities and marketing’s influence on closed deals.

What is your current role at Vibes, and what does it entail in the context of mobile marketing and engagement?

As the VP of Marketing at Vibes, a mobile engagement platform, Jay ensures that their target accounts know about Vibes and consider them when looking to delve into mobile marketing or expand their current efforts. His team, composed of B2B veterans, focuses on demand generation, content marketing, SEO, and visual design.

How does mobile marketing bridge the gap between email marketing and mobile application?

Jay discussed how email marketing has a high reach but low engagement, while mobile apps have a low reach but high engagement. To bridge the engagement gap, marketers in the retail and restaurant industries utilize SMS or mobile wallet services, which have high open rates.

What are your predictions for the future of mobile marketing technology?

Jay believes that they are still in the early stages of mobile marketing technology. He anticipates SMS messages becoming more visual and an increase in engaging multimedia messages. He also sees mobile wallet offers, synced easily to Apple or Google Wallet, becoming a key way to drive users into stores or restaurants with increased individual segmentation and personalization.

How is Vibes dealing with the current economic downturn?

Jay mentioned that in response to the economic downturn, brands are focusing more on what works and de-emphasizing the things that don’t. Email campaigns and mobile app development that do not engage customers are being deprioritized in favor of SMS campaigns and mobile wallet activities that have higher engagement rates.

Is there a book, blog, newsletter, website, or video that you would recommend to our listeners?

A book

Shout-out

April DunfordAuthor and Founder at Ambient Strategy

Jessica Foster Brandt Director of Demand Generation at Lily AI

Brian Finnerty – Vice President, Revenue Marketing at Udacity

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