How B2B companies can weather volatility and thrive

Marketers are operating in an era of upheaval and volatility eerily reminiscent of 2020. However, as a new report by Forrester points out, this time there are some subtle differences, including new tariffs, trade wars and impatient customers.

Matthew Selheimer, vice-president and research director at Forrester, points out that B2B marketing, sales, product and customer success leaders are no strangers to disruptive change — in the markets they serve, in buyer expectations and in the technologies and tools they use.

“With the intense economic and geopolitical volatility we’re now experiencing, the imperative to drive growth and profitability persists but seems even less attainable. The key is for B2B marketing leaders to not just seek to weather the storm but to chart a course through it, transforming challenges into opportunities for growth and innovation wherever possible,” he says.

Selheimer has several recommendations for B2B marketing leaders:

• Increase focus on stable market segments. Anticipate budget tightening and prioritise market segments that offer the greatest potential for growth. At a minimum, you’ll be optimising your costs, and you’ll be ready if the CFO and CEO come calling to ask you to give budget back.
• Streamline technology and operations. “With tech sprawl at an all-time high, it’s time to look for opportunities to consolidate. Focus on incumbent vendors that offer broad capabilities, reducing investment in overlapping tech. Identify nonstrategic operational tasks and stop supporting them.
• Double down on customer insights. In volatile times, understanding and empathising with customers must be continuous. Use insights to improve high-friction processes and guide the tone and tenor of communications. This will enhance your resilience and benefit customer satisfaction.
• Embrace scenario planning. Preparedness is the best defence against uncertainty. Develop contingency plans for a wide range of scenarios, such as increased costs to operate in a market or stalled deals in a specific segment, to help ensure swift and informed decision-making when challenges arise.
• Accelerate decision-making. The pace of change demands agility. Empower front-line leaders to take action in response to buyer and customer insights. Foster a dynamic decision-making environment to adapt more swiftly to market changes.
• Maintain compliance. Regulators and auditors don’t pause during periods of high volatility, but your policy adherence may break under the strain. Don’t let that happen: continue to prioritise data compliance for internal systems and with partners and suppliers.

“Beyond these actions, successfully navigating volatility requires intentional change leadership,” says Selheimer. “In times of rapid and unpredictable change, maintaining a connection to long-term goals remains important, but being nimble in the short term is also essential. Corporate and brand values can provide a compass for guiding decisions and behaviours — determine which are most important in the face of volatility and lean into them.”

A commitment to meeting buyer and customer needs, he says, is key to helping B2B companies weather the storm. “Succeeding through volatility also means leaning into long-term risk management. Put the most focus on risks over which you have the most control, such as adapting to the surging buying power of younger generations and the need to engage with increasingly large and complex buying networks.”

Though navigating through volatility is fraught with challenges and risk, Selheimer says savvy B2B leaders recognise that change also brings opportunity.

The big take-out: A commitment to meeting buyer and customer needs is key to helping B2B companies weather the storm.