Qualified + 24 min

The Year in Pipeline Generation


Recap the biggest trends in pipeline generation and B2B marketing in 2023 from leading B2B tech marketers and learn predictions for B2B pipeline generation in 2024.



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[MUSIC]

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Hi everyone and welcome to the year in pipeline generation.

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My name is Mora Rivera, I'm the CMO here at Qualified and

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I am joined by the lovely Sarah McConnell VP of Demand Gen.

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And today we're going to be breaking down all of the trends that we saw in

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sales

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and marketing in 2023.

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>> Yeah, I feel like 2023 was such a roller coaster, but

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we were really fortunate that we got to host four different pipeline summits

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last

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year.

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And without we got to interview some of the best and the brightest in BDB tech.

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And of course we talked to them about everything from demand gen to content

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all the way through two events.

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>> Yes, we had so many great conversations this last year with so

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many incredible luminaries.

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But one thing remained clear, the thing that is keeping up all CMOs at night,

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myself included, is pipeline generation.

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That was the major theme of the year.

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>> Let's talk about pipeline.

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>> Pipeline is absolutely the name of the game.

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>> If you don't as a marketer, help the organization to create quality pipeline

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that converts to ACV, that really is my business.

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So if you talk to the head of revenue at our company, their priorities are ACV,

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ACV, ACV.

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And as the CMO, my priorities are pipeline, pipeline, pipeline.

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>> Pipeline, great topic to talk about.

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>> Pipeline, everyone needs more pipeline right now.

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>> How does it impact pipeline?

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>> And it's so tough to generate pipeline right now.

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>> And then what do you get out of it and that's the pipeline.

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>> Okay, so one thing that we saw this past year is budgets or tighter,

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but pipeline targets did not shrink.

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They were the same, if not bigger.

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And as marketers, there was one phrase that we heard over and over again.

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Sarah, can you guess what it is?

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>> Everyone already knows the answer.

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It was do more with less, but I think one, what does that even mean?

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And two, was that really the right mentality to have?

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And I think I loved your conversation with John Miller,

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and I really loved his take on the do more with less mentality.

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>> I think as marketers, it's an interesting time because we're asked to do

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more with less, right?

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This is kind of, I feel like the most commonly used mantra right now.

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It's all about being a-

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>> Which I also think those are like the four worst words in English language

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these days.

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>> And also that was going to be my question.

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I know we're going to skip ahead to this later, but like as marketers,

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how are you thinking about generating more pipeline when sometimes resources

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are strapped or cash is strapped?

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How should marketers be thinking about that today?

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Because there's more pressure than ever before to generate pipeline for our

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sales teams.

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>> Yeah, well, I don't like the phrase do more with less.

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I think it's just asking people who are already working really, really hard to

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somehow work even harder.

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And somehow, I mean, the definition of insanity is just doing the same thing,

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expecting different results.

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Even worse is do more of the same thing, expect different results.

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>> What does that mean?

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>> Right, we can't just be working harder.

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We're going to have to find ways to work smarter.

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>> And in addition to John Miller, we also talked to Mike Green from Salesforce

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She had a really great perspective about how you put this into practice.

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>> When we say do more with less, because I do less with less is what we

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typically say.

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It's like really do more with less.

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But I think it's ruthless prioritization.

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It's focusing on the things that matter that are going to move the needle.

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I'm sure you guys know of the V2 mom that really anchors us on how we

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prioritize our priorities.

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If it's on the V2 mom, it shouldn't be happening.

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>> And along those same lines, we heard from a lot of leaders that with the

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chaos of AI and in such a tough market,

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they were really pushing their teams to focus on the fundamentals and get back

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to the basics.

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>> Yeah, Sarah.

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And I think although we're all heading into 2024 with high hopes, we learned a

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lot this past year of how do you do what works?

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Shannon DeFi, CMO of Asana talked about, how do you get back to your message?

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>> Last year was hard for all marketers.

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I think I don't see it.

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I don't see the sky's opening with joy for marketers anytime soon.

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So in some ways, that's bad.

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In some ways, I do think it is taught us, me and particular, to get back to

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basics.

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And it goes back to what is our message, what is our value, and how do we tell

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that as clearly and hit the Lee and

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emotionally as possible to our customers?

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And so for us, it's like rebuilding the playbook on how you connect with these

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people,

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where are the events that you meet them, what is the message that you tell them

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how do you show them similar customer stories, right?

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And really building campaigns around that.

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Like there's elements that we need to make sure we have in each campaign for it

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to be successful.

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It's the message, it's the customer story, it's the medium or the venue that we

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're doing it,

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and just being laser focused on what is resonating with our customers.

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And at the Spring Pipeline Summit, we heard from Sarah Franklin, the now CEO at

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Lattice,

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and she put it in a way that I really liked.

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I think the future is exciting.

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I think that it's a fun time to be in this hard time because it's a time when

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you need to invent,

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you need to differentiate, you need to go back to basics, you need to be

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creative in order to win.

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And that's why I think it's a hard time, but a great time.

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Okay, it's a fun time to be in hard times, that is an optimistic approach,

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which I love about Sarah Franklin, I think some of us are ready for a little

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bit of easier times.

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But in addition to the major theme that we saw of going back to basics, which I

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think is so true,

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another thing that was a big focus for marketing leaders this year was really

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becoming a data-driven

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marketer. As marketing leaders, we all had to learn the numbers, we all had to

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learn how to tell

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a story about our investments to prove the ROI.

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And we had Emma Chaolin on, who's the CMO of Workday, and she shared her

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perspective.

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Marketers need to be more data-driven than probably ever in the history of our

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profession.

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And you said something that really struck me as we were getting ready for this

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conversation.

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You said marketers need to go from mad men to math men, or from mad women to

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math women.

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How do you think about that blend between the art and the science of marketing?

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Yeah, I mean, it's a great analogy, and I take it very seriously into heart.

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So, you know, using the creative side of my brain when I'm thinking about

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refreshing the brand or creating a corporate narrative and using that

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scientific part of my

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brain and really understanding the data and the math behind the ROI and the

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impact of our work,

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because that's more critical than ever. And really being able to use those

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insights and the data to inform the decisions that we make, what's working and

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what's not.

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You know, I put a dollar in here, I get $15 out. That's more critical than ever

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, especially as

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budgets tend to be shrinking. But the expectation of the impact of the

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businesses

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is still growing, and it's not generally, budgets aren't generally in line with

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the revenue growth

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goals. So for me, that blend of art and sciences is really critical.

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We obviously saw one of the hottest topics this year was AI, and AI has changed

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the games

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in a lot of ways. But I think one of the big ones that we saw was with real-

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time analytics

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and really giving us access to products that maybe we'd only dreamed of before

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this revolution.

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It's interesting, Sarah, because if you rewind a year ago, chat GPT had just

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come out,

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and there was this frenzy. And then we saw all of these product launches from

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all these companies.

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And then throughout the year, we started to see this technology become real.

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And I'm really excited

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for 2024 to get our hands on all of this AI-driven technology. It now feels

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like we can see it,

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we can feel it, we can use it in our everyday lives. Totally. And I do think 20

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23 was definitely

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the hype cycle of AI. And I think we're starting to see that come down maybe a

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little bit.

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But one of the questions that was posed a lot, I think in 2023, and maybe it's

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still on all of

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our minds in 2024, is AI going to take our jobs? And Udi Ledergore, who's the

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chief evangelist at

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GONG, I think had a really good take on it. And he's not worried. GONG has been

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in AI for over

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seven years now, a week before our parents started texting us about this new AI

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stuff.

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And it's super cool that everyone's talking about it right now, which is why we

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're also bringing

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it to the forefront. I think AI is going to change how marketing and sales and

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many other

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professions and teams work moving forward. There are going to be some low level

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tasks that can be

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fully automated right now. We're seeing that with sales teams, like getting a n

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udge that someone is

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back from out of office, we're sending a templated email that you promised to

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send. There's no need

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to hire a very expensive sales person to do that. Automation can do that with

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AI right now.

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But I think for many of these professions, AI is not going to take our jobs

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away. AI is going to

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help us be better and go deeper and spend more time doing the things we are

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uniquely qualified to do

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as human beings. And so if you embrace AI in that way, you don't shy away from

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it, say, "Oh,

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this is going to take my job away." No, AI is your friend. It's not your enemy.

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Okay, so AI is our friend, not our enemy. But the one question is, where do you

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begin? How do you

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think about starting to integrate AI into your tech stack? There can be a lot

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of hesitancy from

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sellers and from marketers because it can be risky and it can be expensive.

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Totally. And that is

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especially important when you think about all of marketers' budgets almost

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stayed flat in 2024.

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Matt Millen, who is the co-founder and president at Regi AI, had some really

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good insights when you

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are thinking about buying AI-powered tools and adding them to your tech stack.

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I think as we are evaluating new pieces of technology, AI-assisted technology,

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that's what we should be

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looking at. At the end of the day, is it easy for the team to use? Does it

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cause us more work,

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rework, change management, any of that? And I think the way that we've risen

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above it is just a very

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focus on who our customer is. We're not trying to sell everything, never

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anybody. And we're just

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seeing very focused on solving two good problems. One, we can go over template

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emails,

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and then two, personalization every step. In line with Matt's note, I think as

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we're thinking

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about bringing AI-powered products to market, which I think probably a lot of

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marketers on

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this are doing right now, you obviously have to bring clear and concise and

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valuable messaging.

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But when we talk to Ashley Kramer, who's the chief marketing and security

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officer at GitLab,

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she had an interesting take, which was you can't just be the first to market,

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which it can be really

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hard, and you feel like you have to be the first to market in this AI hype, but

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it's actually

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about being the best to market with an AI product. I worry when new hype comes

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out, it's AI right now,

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it's going to be tool here, tool here, tool here, tool here. I want consistency

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, and I told the team

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there, and I'll encourage you all for this too. Give me one place to go,

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whether I'm a CMO,

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whether I'm a day-to-day user of the product or platform that you're selling,

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put the analytics

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in there, do everything in one place and drive people to that. Don't be just

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another tool,

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because there's going to be 50 million of them. By the time we get out of this

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whole hype cycle,

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be the one that everybody comes to, everybody can get the information they need

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from.

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I think what Ashley said is fantastic, and you're right, Sarah. There's been

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this frenzy in the

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sense of urgency to launch products, but how do you make sure you have quality

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products?

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As a CMO, there's so much technology out there, and I don't want to have to go

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to 10 different

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platforms to reveal these AI insights. How do you develop products where it's

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one trusted place

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for people to go for AI-driven insights and analytics? When we talk to Kastore,

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who's the

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founder at Bullcast, he had a really good take on how much time you should

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actually be investing

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into looking at AI-powered products. I wish a world, more aware, we have a co-p

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ilot for

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everyone of us, where I can just ask questions and it magically throws me

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answers. For example,

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if a campaign gets over, I can just ask questions. How many of my target

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accounts came to the event,

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and it just answers me a question and stuff, going to a marketing ops post and

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getting a report,

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or something like that. Really exciting and interesting advancements happening

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in the whole space,

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but I also want to make sure that folks don't get pressurized to update

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technologies.

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It's not a lifesaver or a game-saver. It obviously helps in a lot of ways, but

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I think we started to do our own individual jobs as well, apart from the whole

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transformation that's

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happening. I think Kastore is spot on. I think as marketers, there's a lot of

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pressure of,

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should I be using AI for that? One thing I'm super excited to see in 2024 is

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really how AI is shaping

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content marketing. We've been talking about this division of groups that we're

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going to see.

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I think there are some marketers out there who will use AI to just generate a

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ton of content,

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but it will be lacking substance and is quantity better than quality. Then we

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're going to see

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another batch of marketers who are really developing a point of view and using

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AI to help them with

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velocity and to help them with generating content in a faster, smarter way. Udi

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from Gong shared his

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perspective here. If you think about marketing teams, they're starting to look

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at AI and I think

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the search engines are going to completely change how they treat organic

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content because there's no

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more barriers to creating an incident amount of content. Just prompt the chat G

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PT and you've got

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content like till the cows come home. But good content is still going to

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require a human being

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who has a point of view that might be controversial, which is not because it

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averages out everything

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that it was trained on. So it's never going to have a controversial, polarizing

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counter to a point

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of view. That's number one. Two, it's not going to have the unique style or

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voice that a human

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marketer can have. So you need to inject those things. Then you can definitely

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use chat GPT or

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other AI products that are helping marketers to fill in the blanks. Once you

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have a point of view

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and a tone of voice, chat GPT can help you do that. So the human writers are

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actually moving more

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into an editor position, but we're nowhere near not needing those people. And

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what have my

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predictions I think for 2024 is we're going to start to see marketing teams who

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are really

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mastering their brand and their point of view. I think we're in this time where

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B2B content is

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actually getting pretty exciting again. And we're moving past the days of kind

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of those like cookie

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cutter ebooks and white papers. But as marketers, I think one of our biggest

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problems is going to

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be distribution and Kyle Lacey, the CMO jellyfish had a good take on this email

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newsletter podcast.

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Like how do we create great content? Because I think distribution is important,

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but in the world

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we live in today, if the content is different and really valuable, it will grow

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. And I think you can

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see that from a lot of the substack newsletters. And if the quality of contents

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there, it will grow,

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right? So the marketing landscape is definitely changing a lot. And one thing

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that's top of mind

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is definitely distribution. How do you stand out in a crowd? Yep. And I think

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speaking of things

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that are top of mind, one of the other things we heard over and over again from

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marketing leaders

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and we spoke to them about last year was events, events are back. And I think

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they're back big time.

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They're back and everyone right now is doing their events plan for the year.

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But I think

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something that's so important is you're not just checking events off a list.

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You're not just saying

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we're going to show up there onto the next, you really have to challenge

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yourself to think,

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who's audience for this event? What's the goal of this event? What are we

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trying to generate or

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influence? So we talked with Matt Heinz from Heinz Marketing, as well as E.J.

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Welling from Sixth Sense,

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and they shared their perspective on what is the purpose of an event? How does

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this brand make me

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feel? What is my association with this brand mean? How does that reflect on me?

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And I think about

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like the experience at Forster in the club six, you add, and just like being in

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that room, right?

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And being with the with the food and the drinks and but while the other people

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in the conversation

15:19

going on, being associated with that, there was a feeling and a self identity

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that I assume was

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very intentional as part of your event spread. All hundred percent. We want

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people to feel welcome.

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And we want you to feel that you're with like-minded people as well. You're all

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in there for the same

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goal. We're all going to the same conference. We all paid for the same badge,

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right? We're all

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staying in the same hotel groups. But we want to walk away and we at Sixth

15:40

Sense want to create

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this memorable moment where you can sit down, you can put your seat up, you can

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have that cup of coffee,

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and you can take a breath. And I think that's important too. Not only do we

15:49

want to make sure

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that people are connecting and having conversations, but that you get to feel

15:53

your best to you when

15:54

you're on site. So we'll do things with having unique swag. That's not

15:57

necessarily brand

15:58

of Sixth Sense, but it's teal. And so you have a little teal pop of teal. And

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it's my teal today.

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Or we do a glam squad or we do things like that. We want you to feel the best

16:06

to you. Walk in and

16:07

have it. And I think one of the points that they hit there about in-person

16:10

events is it's not just

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about a cool venue or like this really amazing experience, which obviously is

16:15

very important

16:16

for an in-person event. But the real magic I think of in-person events is

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leaving your customers

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and your prospects with this really lasting feeling that they're going to

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continue to associate with

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your brand well after that in-person event is done. And one thing that came out

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throughout a lot of

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these conversations is it's not just about big events this year. There's a lot

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of enthusiasm

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around these smaller, more bespoke, intimate events. And how can you approach

16:39

those events to really

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help not only generate pipeline, but accelerate pipeline forward? And as

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marketers, we haven't

16:45

been able to host these experiences for a while. And now our wheels are all

16:49

turning. What can we do

16:50

that's special in kind of a smaller format this coming year? So Kyle Lacey

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shared his perspective.

16:56

The curated events I am in. Like the small 20-person dinners where it's like 70

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% cost

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to 30% prospects even though I'm going back to the 70-30. And I should say 80-

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20. Where it's just

17:11

good conversations and people, you know, we're coming back into this world

17:16

where people are hungry for

17:18

that interaction. And we can do the virtual events and we will because they're

17:23

scalable and they

17:24

are important to the model. But you know, we had a virtual event this year in

17:28

May and we had

17:30

dinners in different cities after the virtual event and they were very

17:33

successful because we had 90%

17:35

attendance rates and people loved talking to each other. Kyle had such a good

17:39

point there. And I think

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these smaller, more intimate events are so valuable. I know when I go to these,

17:44

I find the

17:45

conversations are so much more impactful and I leave with such better content.

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But whether you

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are going to a large conference or a small 30-minute webinar like this one, I

17:56

think something that gets

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forgotten about a lot is your post-event strategy. And we talked to Karen

18:00

Flores who's the SVP

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of events at Okta and she gave us some great insights on how you should be

18:05

thinking about your

18:06

post-event follow-up strategy. We have our huge customer event coming up on

18:11

October 3rd in San

18:12

Francisco and we're working on our digital nurture campaigns and we call them

18:17

our digital

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backpacks. You know, for those who join us online, it's important that we know

18:24

what you're doing,

18:25

what perhaps you miss so that we serve you up something and not waste your time

18:28

. Personalization

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as always and will always be the most important thing that we do, especially

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now.

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Yeah, tell me more about digital backpacks. Can you unpack this?

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I can unpack that. So this year if you attend Octane online, we will serve you

18:45

up a digital

18:45

backpack with information deeper into the sessions that you took and then will

18:51

map offers and

18:52

different content that is relevant to what you were interested in based on how

18:57

much time you

18:57

spend with us and what you're watching and participating in. We'll also serve

19:00

you up access

19:01

to some of our experts. So if perhaps you're interested in our workforce, we'll

19:07

match you up

19:07

with some of our experts who can help you. That's really cool. So does that,

19:11

those are for the

19:13

virtual attendees, right? So you sign up for to go to Octane, you go to the

19:18

event, maybe you catch

19:20

a few sessions, you miss a few, all that stuff. And then at the end, there's

19:24

the ability to know

19:26

what you missed, what you didn't, and then you're continuing that digital

19:29

journey. Plus new content

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will serve up new things for you, customized just based on what you watched and

19:35

what you responded

19:35

to. And then of course, if we're lucky enough, if you gave us feedback of like,

19:39

"Hey, this is really

19:39

important. I want to learn more about this." Well, Taylor, a unique experience

19:42

just for you.

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So I love that concept of the digital backpack. Love Karen Flores. So, Sarah,

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we talked about a

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lot today. We talked about how as marketers this past year, we all had to learn

19:52

how to do less,

19:53

but do it better. We talked about the importance of a data-driven marketer

19:57

going back to basics,

19:58

how content and events, kind of these core strategies are going to remain

20:02

paramount this coming year,

20:04

all with a little help from our friend, which is AI. So the question is, what

20:08

else is in store

20:09

for 2024? What's on top of your mind? What are your predictions as we look out

20:13

for this next year?

20:14

Yeah, predictions are always tricky, especially with the economic times that we

20:18

're in now,

20:19

make predictions even harder. So my first one is, I think it's hard to know if

20:24

budgets will or

20:24

won't open back up. We're kind of hearing hints that maybe the economy is

20:27

getting a little bit

20:27

better, but maybe it doesn't always feel that way internally. But if budgets do

20:31

start to open

20:32

back up a little bit, my prediction is it'll be in very small amounts for

20:35

really focused

20:37

experimentation. And the one thing I want to call out with that prediction is,

20:41

I think, as marketers,

20:42

we no longer have to just report on this to our CMO that we are really beholden

20:46

to our CFO as well

20:47

to prove out the value of that budget. So if you're listening to this, your

20:50

budget does start to

20:51

open back up a little bit in 2024, which fingers crossed it does for all of us,

20:55

make sure you know

20:56

the metrics that are successful for that little bit of budget and make sure you

21:00

're over communicating

21:01

that to your CFO. Make sure they know that it's successful. If you want to

21:04

continue to see that

21:05

budget, keep coming through in 2024. So that's my first one. My second one is,

21:09

of course, about AI.

21:11

I think 2023 was when we really started to all just trying to figure out what

21:15

is AI. Like,

21:15

we're all like, what is it? Can we use chat to be T? We're all trying to figure

21:18

out prompts. I

21:18

realize I'm a terrible chat GBT prompter. It's okay. You're good at it. I just

21:22

saying thank God.

21:23

And I think my or my prediction for 2024 is when we think about AI, it's going

21:29

to be through the

21:29

lens of products. I think we're going to start to see AI weaved throughout our

21:33

entire tech stack.

21:34

Think if you already have something in your tech stack, they're going to start

21:37

to be building AI

21:37

features into it, or you might be with that small bit of budget, you might be

21:41

starting to think about

21:42

buying something that's AI powered. But I think gone are the days that we think

21:46

we can just use

21:46

free AI products and it's going to magically make our jobs infinitely easier. I

21:50

think we're going

21:51

to start to come back down to earth a little bit and realize if we as marketers

21:54

are going to use

21:55

AI, it's probably going to be through a product that is already in our tech

21:58

stack or that we're

21:59

thinking about purchasing. I think that's spot on Sarah. And when I think about

22:03

AI and going into

22:04

2024, I'm really excited to see how does it help the demand gen marketer this

22:09

past year. It helps

22:09

content marketers a lot with writing with video editing, all of that great

22:13

stuff. But I think as

22:14

we head into 2024, we're going to realize there's a faster, smarter way to

22:18

automate a lot of our

22:19

demand gen processes. How are we looking at data? How are we automating kind of

22:24

the traditional way

22:25

that we used to look at demand gen and moving people through the funnel? And

22:28

that's where it's

22:29

really going to shine. I also think tech consolidation is going to continue to

22:32

be a huge focus for us

22:34

this next year. I think in 2023, we learned there's some tech that you need and

22:38

some that's above

22:39

line and some that's below the line. And that's going to continue to be kind of

22:43

the requirement

22:44

as we go into this next year. How do you do more things with fewer tools and

22:48

platforms?

22:49

Any other predictions as we wrap up? I think my last prediction to know and

22:52

surprise is about

22:54

pipeline generation. And I think regardless of if any of the predictions would

22:57

be to said,

22:58

come to fruition or they don't, the one thing that I guarantee is going to

23:01

happen in 2024 is your

23:03

pipeline number is going to keep going up. I'm a demand gen. I know this

23:06

firsthand.

23:07

The expectation is you're still going to continue to grow pipeline, whether it

23:10

's the quality of it

23:11

or the quantity of it. You still need to have good pipeline and you've got to

23:14

help grow it if

23:15

you're going to move the needle on your business as a marketer. So no matter

23:18

what, focus on pipeline

23:20

generation next year, because it's going to be, I think, top of mind, it wasn't

23:23

2023. That's not

23:24

going to change in 2024. That's awesome. And where do we go to talk about all

23:28

things pipeline?

23:29

It's pipeline summit. So we're excited to invite you to our spring 24 pipeline

23:33

summit. It's going

23:34

to be happening on April 11th. So save your spot. This is a great chance for

23:38

everybody to get together

23:40

and gut check how are the strategies going that we put in place the beginning

23:43

of the year? How

23:44

should we shift them? How should we iterate on them? We are going to have an

23:47

all star lineup of speakers.

23:48

We're going to be doing playbooks, how to sessions, etc. So it's going to be

23:52

phenomenal. Please save

23:54

your spot and join us. And thank you for this Chatch Day, Sarah. It was fun.

23:58

This was awesome. See you soon.