In the ever-evolving world of B2B marketing, there appear to be two distinct schools of thought – and if this week’s LinkedIn debate is anything to go by, it’s clear that the landscape is far from simple.
The Touchpoint Dilemma
Is it true that closing a B2B SaaS deal in 2024 requires over 250 touchpoints? That’s a staggering number. Yet, B2B software sales are inherently complex, involving multiple players. A typical transaction engages a buying committee composed of various individuals, from influencers (not of the Instagram variety) to legal and procurement teams, and, of course, senior executives. Each has their own stake in the process, which can drag negotiations out over months as they work towards consensus.
Earlier this week, a report by HockeyStack, a software company specialising in marketing attribution and account analysis, ignited a spirited discussion on LinkedIn. The report delved into the intricacies of touchpoints in B2B sales, sparking both interest and controversy.
What the HockeyStack Report Uncovered
HockeyStack’s report, compiled from anonymised client data, offered some striking findings. In 2024, it takes on average 71 touchpoints to convert a lead into a marketing-qualified lead (MQL), a 31% increase from the previous year. To close a deal, a company now needs 2,879 impressions and 266 touchpoints – a 10% and 20% rise, respectively, from 2023. For deals worth over $100,000, it takes nearly 1,900 impressions before a potential customer even visits the website, with countless more interactions required to seal the deal.
HockeyStack teamed up with Exit Five, a B2B marketing community led by former Drift executive Dave Gerhardt, to promote the findings. As with many such collaborations, Exit Five amplified the report’s reach through LinkedIn posts, which is where the conversation really took off.
The Controversy Around Promotion
It’s no secret that the world of B2B marketing is saturated with sponsored content, and the relationship between HockeyStack and Exit Five is a prime example. What ruffled feathers, however, was the way the report was promoted. Some users pointed to a lack of transparency, questioning whether the posts made by Exit Five properly disclosed their sponsored nature. Gerhardt later acknowledged this concern, posting a clarification on LinkedIn.
The reaction underscores a wider debate in the industry about the ethics of sponsored content and influencer marketing. While some argue that these practices are now an accepted part of the marketing ecosystem, others feel that more transparency is needed.
A Growing Divide in B2B Marketing
Beyond the specifics of HockeyStack’s report, the LinkedIn debate has exposed a broader rift in the B2B marketing community. HockeyStack’s appeal lies in its promise of measurable attribution – the holy grail for marketers who want to demonstrate how their activities directly translate into revenue. For these marketers, everything is quantifiable, and they’re eagerly awaiting tools like HockeyStack to prove their worth.
However, another faction of B2B marketers takes issue with this approach. They argue that an overemphasis on attribution ignores the value of brand-building and broader marketing strategies. For them, B2B marketing is not just about driving short-term sales, but also about creating long-term brand recognition and trust. This group resists the idea that buyers can be “nudged” into a purchase purely through an accumulation of touchpoints.
A Battle for the Soul of B2B Marketing
The debate sparked by HockeyStack’s report and its subsequent promotion highlights a deeper division in B2B marketing. On one side, there are those who see data and attribution as the future of the industry, while others believe that traditional brand marketing has an equally important role to play.
As the conversation continues, it’s clear that this divide isn’t going away. B2B marketers are now faced with the challenge of finding a balance between measurable results and the intangible benefits of brand marketing. In a complex and crowded market, the future of B2B marketing will likely depend on which of these two philosophies prevails – or whether a middle ground can be found.
The HockeyStack report may just be one chapter in this ongoing battle, but it has certainly brought the issue to the fore.
Reference: https://martech.org/what-the-linkedin-debate-over-a-hockeystack-report-says-about-b2b-marketing/
