FV 3: How B2B companies should spend marketing dollars | Liam Moroney

In this conversation, Liam Moroney, founder of Storybook Marketing, discusses the future of demand generation and marketing budget allocation in B2B companies. He highlights the rise of demand gen as a buzzword on LinkedIn and the need for clarity in its definition. Liam also explores the influence of B2C marketing on B2B marketing and the challenges of applying B2C tactics in a B2B context. He emphasizes the importance of understanding the specific problems a business is trying to solve and aligning marketing efforts accordingly. Additionally, Liam discusses the misallocation of marketing budgets and the need for a balanced measurement framework. The conversation covers the importance of identifying the ideal customer profile (ICP) and narrowing down the target audience. It also discusses making educated guesses on the ICP and how it evolves over time. The conversation then shifts to the strategy of creating videos in nature on LinkedIn and the workflow for producing them.

Takeaways:
- Demand generation has become a buzzword in B2B marketing, but its definition is often unclear and varies from company to company.
- B2B marketing can learn from B2C marketing, but it's important to consider the differences between the two, such as the role of sales teams and the complexity of B2B buying cycles.
- Many B2B companies misallocate their marketing budgets by focusing too much on demand capture and lead generation efforts, rather than building brand awareness and educating their audience.
- Effective marketing budget allocation starts with understanding the specific problems a business is trying to solve and aligning marketing efforts accordingly.
- While attribution is important, it's crucial to recognize that not everything in marketing can be directly attributed to revenue. Some efforts, such as podcasts, are more about brand awareness and affinity. Identifying the ideal customer profile (ICP) is crucial for effective marketing.
- Narrowing down the target audience allows for focused and effective marketing efforts.
- Making educated guesses on the ICP is necessary for early-stage companies without sufficient data.
- The ICP evolves over time, and it's important to adapt and expand the target audience as the business grows.
- Creating videos in nature on LinkedIn can help differentiate oneself and attract attention.
- Having an efficient workflow for creating LinkedIn videos is important, but authenticity and creativity should not be sacrificed.

TIMESTAMPS:
00:00 Introduction and Background
02:24 The Rise of Demand Generation in B2B Marketing
06:01 Influence of B2C Marketing on B2B Marketing
10:43 The Future of Demand Capture and Marketing Budget Allocation
13:08 Misallocation of Marketing Budgets in B2B Companies
22:37 Determining Marketing Budget Allocation
29:11 Ensuring Alignment for Execution Excellence
35:47 The Obsession with Tech and Tools for ROI Attribution
42:37 Understanding the Audience and ICP in Demand Gen
43:59 Identifying the Ideal Customer Profile (ICP)
45:16 Narrowing Down the Target Audience
46:10 Making Educated Guesses on the ICP
47:28 ICP Evolution and Expanding Target Audience
48:52 Creating Videos in Nature on LinkedIn
53:21 Workflow for Creating LinkedIn Videos

TAGS:
FounderVideo,Founder Video,Will Martin,Demand Generation,B2B Marketing Strategies,Marketing Budget Allocation,B2C vs B2B Marketing,Brand Awareness in B2B,Ideal Customer Profile (ICP),Target Audience for B2B,Misallocation of Marketing Budgets,Marketing Attribution,LinkedIn Video Content,Educated Guesses on ICP,ICP Evolution,Marketing Alignment,Demand Capture,B2B Sales Cycles,Content Marketing in B2B,Video Marketing Strategy,Authenticity in Marketing

TRANSCRIPT:
"welcome to the founder video podcast an interview series bringing you the latest and greatest info on B2B marketing Revenue operations and go to market strategy from respected experts here is your host will Martin all right so we're here for another episode of the founder podcast and today we are with uh Liam [ __ ] the co-founder of story book marketing and as you see that um helps with running Dem Manion programs on in B2B of course and uh we here to talk about a lot of stuff right we here to talk about Dem man gen um the future of B2B marketing and most importantly uh how can B2B companies allocate uh their marketing budgets better smarter and more efficiently right so um yeah the first question that I have to you well first of all welcome it's a pleasure to have you and the first question you for having me I'm excited this is gonna be fun yeah yeah I I can tell already um I I wanted to ask you like is and this is a question that I'm already kind of like asking to to everyone that I um trying to bring on the podcast is who is uh who is Liam Moroni in this case and what should people know about your past professionally and personally if you want to uh to understand what you're doing today at..."