B2B marketers then are beginning to own three processes that involve pricing, quoting and contract management. This is bringing an entirely new era to B2B marketing of accountability for translating advertising and promotion into closed sales with many of the firms in the UK and throughout Europe being the leaders on this trend (Raddats, Easingwood, 2010). In conclusion, the PRM strategies and platforms B2B marketers are using throughout the UK and Europe are setting the foundation for their ownership of pricing, quoting and contract management for the long-term. This will bring an entirely new era of accountability to B2B marketers, and already is throughout the UK and Europe.
Business Intelligence and Analytics
The fifth trend that is becoming pervasive throughout the UK and Europe is the adoption of analytics and Business Intelligence (BI) for measuring, evaluating and improving marketing strategies. As many marketers have moved to the majority of their budgets to digital media as it allows for greater precision of planning and measurement, the en masse adoption of analytics and Bi will only accelerate over the coming years. 2011 is seeing the fastest and most pervasive adoption of analytics for use in measuring marketing strategies over time. Figure 6, Analytics and BI Show Growth Despite the Recession, illustrates how the EMEA market continues to lead the B2B industries globally in the adoption and use of these technologies to track marketing strategy performance.
Figure 6: Analytics and BI Show Growth Despite the Recession
Analytics and Business Intelligence (BI) are also being used to unify the value chain of B2B-based businesses (Trkman, McCormack, Oliveira, Ladeira, 2010). The reliance on analytics to ensure that forecasts from trading partners, distributors, and direct sales teams are accurately interpreted, analyzed and taken into account for production planning is crucial. Just as channel management is leading to increased focus on accountability in the areas of contract management, pricing, and quoting, the same holds true for B2B marketers in the area of supply chain and value chain management with analytics. The ability to track from the initial sales lead or opportunity through the sales cycle to the closed sale is made possible with analytics and BI. Due to this fact alone these software applications have become indispensible to B2B marketers throughout the UK and Europe. Their early adoption of these applications for gaining insights into supply chain performance has made them early adopters globally as well (Trkman, McCormack, Oliveira, Ladeira, 2010).
The recession of the last three years has also led to en masse adoption of analytics and BI throughout B2B marketing departments. The need to quantify the impact of pricing, product direction and inventory decisions over time has become most pronounced in the UK and EMEA as the economies still recover from the recession (Frank, 2009). Analytics and BI has very much become a hedge against undue risk, and B2B marketers have been given the responsibility to arbitrate which programs and strategies are taken on or not (Trkman, McCormack, Oliveira, Ladeira, 2010). This continues to be exacerbated throughout the UK and Europe, where risk aversion is especially high given the fragile nature of surrounding economies as well (Frank, 2009). Analytics and BI are also driving entirely new approaches for many UK and European companies to get the most out of their large, often non-integrated data sets, called data warehouses and data marts. B2B marketers throughout the UK and Europe are today creating data models based on these data sets to get a better understanding of how to generate higher levels of loyalty with their customers
(Trkman, McCormack, Oliveira, Ladeira, 2010). Analytics and BI are a dominant trend because they are affecting...
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