PE M&A Activity ↑12.4%│ Industrial EBITDA Multiples 7.2×│ B2B Buyer Trust Index ↓31%│ SEO Click-Through Rate ↓44%│ LMM Deal Volume ↑8.1%│ Sales Hire Failure Rate 67%│ Organic Growth Gap 2.3× plan│ PE Dry Powder $2.59T│ PE M&A Activity ↑12.4%│ Industrial EBITDA Multiples 7.2×│ B2B Buyer Trust Index ↓31%│ SEO Click-Through Rate ↓44%│ LMM Deal Volume ↑8.1%│ Sales Hire Failure Rate 67%│ Organic Growth Gap 2.3× plan│ PE Dry Powder $2.59T│
ED MARSH CONSULTING · MARKETING

Industrial Marketing Built for a
Zero Trust, Zero Click World.

SEO is broken. Form-fills are dead. Trust is at all-time lows. The website-to-form-fill model that ran industrial marketing for a decade is over, and it's not coming back.

Ed brings empirical measurement and engineering rigor to industrial revenue marketing, for buyers who don't click, don't trust, and don't talk to a rep until they're 70% through their decision.

THE WATERSHED · FIVE WAYPOINTS

Why 2026 Is the Watershed Year for Industrial Marketing.

Each waypoint is a moment when the industrial marketing playbook quietly stopped working. Ed wrote the watershed paper in early 2025. By 2026, the predictions have consolidated, and most playbooks still haven't adjusted.

2019
BASELINE
Pre-COVID inbound peak
SEO + content + form-fills working as designed. Industrial marketers feel they've cracked the model.
2022
Nov · INFLECTION
ChatGPT launches
First broadly-available LLM. Few industrial marketers connect this to their funnel yet.
2024
May · BREAK
Google AI Overviews go live
SparkToro 2024 study: 58.5% of US searches now end in zero clicks. The mechanic that drove inbound is gone.
2025
JAN · ED NAMES IT
Cycles & Secular Changes paper
Ed publishes the essay documenting what changed and why most industrial playbooks haven't adjusted. Predictive at the time. Validated since.
2026
★ THE WATERSHED
The regime change has consolidated
Marketing budgets unchanged. Metrics unchanged. Channels unchanged. The gap between assumptions and reality is at its widest, and competitors who adjusted in 2024–25 are pulling ahead.
Sources: ChatGPT launch (Nov 2022), Google AI Overviews launch (May 2024), SparkToro 2024 Zero-Click Search Study, and Ed's Cycles & Secular Changes paper (2025). Every waypoint maps to a real event referenced in the paper.
Ed Marsh, private equity value creation advisor, in a navy blazer
MEET ED

Three decades inside industrial. Now he's writing about why 2025 is the watershed year.

Consultant · Speaker · Director · Author · Veteran

Ed has spent his career inside industrial manufacturing: building, selling, advising, sitting on boards, and writing about what works. He is the author of two books on industrial sales and marketing, and works exclusively with lower-middle and middle-market industrial manufacturers and their private equity sponsors to build predictable, scalable organic revenue growth.

Ed's Cycles & Secular Changes paper named the watershed before most industrial marketers admitted the ground had moved. The frameworks below (Marketing for LLMs, the new top of funnel, ABM, partner co-marketing, passively-consumable content) are the systems Ed is building in response to a marketing landscape that broke in plain sight.

Johns Hopkins Army Ranger National Speakers Association NACD Governance Fellow Independent Board Director
01
Marketing Maturity Model

How Mature Is Your Marketing Engine, Really?

There's a maturity model for industrial sales, and one for marketing too. Most companies score average across both. A coming Ed Marsh framework will name the dimensions and benchmark you against industrial peers.

Charcoal heatmap of a marketing maturity model scored across dimensions including AI citation and passive distribution gaps

There are four levels of industrial marketing maturity: laggard, average, strong, and leader. Most companies sit at average and don't know it, because they're benchmarking against their direct competitors instead of against what's actually possible. The ORE diagnostic already audits the marketing dimensions: content discipline, website conversion, SEO/AEO, competitive intelligence, sales enablement, and lead generation. The standalone Marketing Maturity Model, currently in development, will add the dimensions that matter most in the new landscape: AI citation strategy, podcast and video distribution, partner co-marketing rigor, and what Ed calls passive consumability: the fitness of your content for buyers consuming while doing something else.

What separates a 'strong' marketing function from an 'average' one is rarely budget. It's whether the basics (defined ICP, a content calendar tied to buyer questions, attribution that follows the dollar, and a marketing-sales relationship that isn't war) are actually in place and being used. Most aren't. Industrial buyers can tell.

Flagship Diagnostic · The Whole Revenue Engine

Overall Revenue Effectiveness™

If your marketing engine isn't producing leads, the problem might not be marketing alone. ORE is the comprehensive diagnostic that audits your entire revenue engine (corporate strategy, marketing, technology, and sales) as one integrated system.

199
Yes/No Questions Across the Whole Revenue Engine
Hundreds of decision points. One honest read on where your revenue engine actually leaks. The Marketing section alone covers Content, Website, SEO, Competitive Intelligence, Sales Enablement, and Lead Generation & Management.
What ORE Actually Does

An audit of your whole revenue engine, including the marketing layer that's most exposed to AI search.

Most industrial revenue problems aren't where leadership thinks they are. Marketing gets blamed when leads decline; sales gets blamed when the number gets missed. When Ed runs the diagnostic, the actual breakdown is usually a system problem: marketing automation that doesn't talk to CRM, content that no one read, attribution that runs on a different ID system than sales, and a corporate strategy that doesn't actually map to who buys.

ORE is the audit that finds the real problem. It's a yes/no diagnostic built on the same engineering rigor you already apply to your shop floor. The default answer is "no." If you have to check with your team, that's also "no."

◆ ORE DIAGNOSTIC · Sample Questions
06 / 199

The default answer is "no." If you're not sure, the answer is no. If you have some of a list in place but not all, the answer is also no.

01
Marketing receives as much focus and attention as sales, with accountability for attributable revenue
YESNO
02
Defined ICP that incorporates size, geography, industry, growth trend, philosophy, ownership, and problems solved
YESNO
03
Lead capture, nurturing, scoring, profiling are supported by automation workflows and rules-based segmentation and execution
YESNO
04
Marketing controls the technology decisions and management (not IT)
YESNO
05
Marketing email is operated according to the content editorial calendar and is active at least monthly across various audiences (prospect, customer, trade press, vendors, partners)
YESNO
06
CMS supports personalized/dynamic content, integrates with CRM and marketing automation, and provides attribution reporting
YESNO
6 of 199 questions shown · The full diagnostic covers Corporate Strategy, Marketing, Technology, and Sales
FULL FRAMEWORK · ON SITE
Where is your revenue engine actually broken?
The ORE framework explained in full: how the four sections interact, why fixing marketing without fixing the strategy or tech usually fails, and what the maturity model looks like at each level.
13-PAGE PDF · 199 QUESTIONS · SHARABLE
Need to score yourself against the model?
Get the full ORE diagnostic as a sharable PDF. Run it with your operating team, your portco leadership, or your operating partners, and use the answers to drive the next conversation about where to invest.
ED IS AVAILABLE
Want Ed to walk through it with you?
Skip the self-assessment. Ed asks the diagnostic questions on a call and tells you which dimensions matter most for your situation, and which can wait.
02
Marketing for LLMs

Your Next Buyer Won't Google You. They'll Ask AI.

AI Overviews now answer questions Google used to send to your website. The new game is being the source the AI cites. Different content, different schema, different distribution.

Charcoal diagram of an AI citation flow from a buyer query to a zero-click answer that cites the site as its source

Content architecture for LLM crawling. Schema markup. Authority signals. PR for AI citations. AEO, Answer Engine Optimization, is the new SEO. The companies that understand this are quietly becoming the cited sources for their industries, and the ones that don't are watching their organic traffic disappear with no idea where it went. The shift isn't subtle: SparkToro's data shows nearly 60% of US Google searches now end with no click to the open web. ChatGPT and Perplexity answer without linking. The meta-game is no longer 'rank for the keyword'. It's 'be the answer the model gives.'

The good news is that the industrial buyer was already self-diagnosing on Google before the AI shift; AI just made the diagnosis faster and more efficient. The bad news is that the new authority signal isn't backlinks. It's whether real industry experts converge on your content as the trusted source. That's earned, not engineered. The companies winning here have a real publishing discipline, a real point of view, and real industry voices (operators, peers, customers) choosing to be associated with their work.

03
Building Trust & Filling the Funnel

When Buyers Don't Trust Marketing, Marketing Has to Stop Looking Like Marketing.

The new top of funnel is podcasts, video, PR, partner endorsements, and earned authority: the channels buyers already trust. Form-fills, SEO landers, and gated content are deprecated.

Charcoal scene of a skeptical industrial buyer overwhelmed by sales pitches while trusted peer, podcast and partner channels build credibility

Trust is at all-time lows. Buyers have a dim view of B2B sales people: 74% of recent buyers said the meeting was a waste of time and they would never take another with that salesperson; only 18% said the meeting met their expectations. The same buyers consume content peer-to-peer, through trusted podcasts, industry voices, conference replays, LinkedIn Live, partner-introduced video, and content from operators they already know. The marketing organizations that fill the funnel today are the ones with a media arm, not a campaigns arm.

Building trust requires transparency, empirical credibility, and authentic expertise demonstrated through channels buyers already consume. That means co-creating content with industry voices instead of writing about yourself. It means showing up on the podcasts your buyers listen to instead of running paid retargeting. It means PR that earns citations instead of brochures. And it means treating your customers, partners, and industry peers as the trust signals, because they are.

04
Account-Based Marketing

Targeted Demand Activation Against Named Accounts.

The opposite of fishing for inbound. Identify the accounts you want, build the play, run it across marketing AND sales as one motion. ABM is the natural shape of demand activation when your TAM is 500 accounts.

Charcoal bullseye diagram of account-based marketing with concentric target-account rings and annotated priority accounts

ABM works when marketing and sales operate as one team against a defined target list, not when marketing pushes leads and sales ignores them. For industrial, where the addressable market is often smaller than 500 accounts and the buying teams are 8–12 people deep, ABM is the natural shape of demand activation. The IP for this isn't new: target account selling, named-account marketing, key account programs: these were the original B2B playbook before inbound briefly convinced everyone that demand should be measured in form-fills.

The mechanic that matters is coordination: the right contacts, the right people, at the right companies, at the right time. The marketing function identifies accounts and orchestrates the touches; sales runs the relationship work and the buying-committee mapping. The two functions share a target list, share a definition of progress, and share accountability for revenue. When this works, it looks unfair. Competitors describe it as 'they keep showing up everywhere.'

Manifesto · Long-Form Essay · January 2025

A Deep Dive into Cycles & Secular Changes in Industrial Sales & Marketing

Ed's January 2025 essay that named the watershed before most industrial marketers admitted the ground had moved. The data has only consolidated since.

58.5%
Of US Google searches end in zero clicks to the open web 
SparkToro 2024
70%
Of the buying journey is complete before sales contact
Cited in Cycles paper
~27%
Decline in HubSpot's own blog organic traffic since 2024
Semrush · in paper
0.3%
Of Google search volume is heavy industry & engineering
Cited in Cycles paper
◆ Essay · January 12, 2025

A Deep Dive into Cycles & Secular Changes in Industrial Sales & Marketing

Navigating the new reality of industrial sales & marketing, exploring secular changes in complex B2B buying behaviors that require prompt and significant adaptation.
Author Ed Marsh
Format Long-form
Audience PE · Portco · Mfg
What's Inside
The argument, in five movements
  1. Executive Summary: where the symptoms show up first
  2. Understanding Cycles vs. Secular Changes
  3. 1895–2005: The Creation of Professional Sales & Marketing
  4. The Current Reality: By the Numbers
  5. The Death of Traditional Digital Marketing

"Google has become a place people go after they discover a need rather than a demand-creation or even demand-nudging platform."

SparkToro · Quoted in the paper
FULL ESSAY · ON SITE
Want the whole argument?
The paper Ed published in January 2025: full data, full argument, full implications. Reads like a single-sitting essay; cited in PE operating-partner conversations since.
PDF · SHARABLE · BOARD-READY
Need to send it to your team?
The full PDF. Drop it in a board pre-read, send to your portco CEO before the next operating review, or share with the marketing leadership questioning the playbook.
ED IS AVAILABLE
Want Ed to walk through it?
Ed will pressure-test your marketing assumptions against the data in the essay. If your model still pencils, he'll tell you. If it doesn't, you'll know which dimensions matter first.
05
Partner Marketing & Sales

Most Industrial Revenue Flows Through Partners. Most Marketing Doesn't Reflect That.

Reps, distributors, integrators, OEMs, channel resellers. Joint demand creation through partners is the highest-leverage motion most industrial marketing teams aren't running.

Charcoal diagram of partner co-marketing with two industrial partners feeding a shared demand funnel

Industrial revenue is rarely direct. It flows through manufacturers' reps, distributors, system integrators, OEM partners, and channel resellers. The companies that grow fastest treat their partner ecosystem with the same rigor they apply to their direct sales team: defined ICPs for partners, structured onboarding, co-selling motions, joint marketing programs, and accountability for partner-attributed revenue. From the marketing side, this means co-branded content, co-hosted events, joint case studies, MDF programs that actually generate measurable activity, and a content calendar that includes the partner's market, not just yours.

Partner marketing is a force multiplier when done well. It's a money pit when done badly. The difference is whether there's a strategy. Most industrial companies do the opposite: they sign anyone who shows up with a business card, send them a price list, hand over MDF with no accountability, and hope. The partners who deserve marketing investment are the ones with their own demand-generation motion who can be force-multiplied, not the ones who need to be replaced.

06
Marketing & Sales Tech Stack

CRM, Marketing Automation, AI, and the Mess in Between.

Most industrial companies have technology that doesn't talk to itself. The right stack is invisible. The wrong stack creates work that nobody does, and reports that nobody believes.

Charcoal architecture diagram of a marketing tech stack (CRM, marketing automation, AI) audited for usage gaps

The industrial revenue tech stack has four layers: CRM (the source of truth for accounts and deals), marketing automation (the engine for nurture and lead routing), sales acceleration (the tools reps actually use day-to-day), and an analytics/AI layer that turns the data from the other three into insight. From the marketing side, the failure mode is almost always the same: marketing automation deployed without integration, attribution running on a different ID system than CRM, AI tools generating content nobody reads, and a Frankenstein stack of point solutions that nobody fully owns.

The right stack is invisible to the marketer. Content goes out, engagement is captured, the right account-level signal reaches sales without a manual handoff, and reporting reflects what actually happened. Getting there isn't a tooling decision. It's a process decision first, an integration decision second, and a tooling decision third. Most companies try to do it in the reverse order and end up with a $200K/year stack that nobody uses.

07
Passively Consumable Content

Walking-the-Dog Content. Commute Content. Shop-Floor Content.

Buyers don't sit down to read whitepapers. They listen on the commute, watch on lunch break, scroll on the shop floor. The content discipline that wins is the one your buyer can consume without setting aside time.

Charcoal illustration of an audio waveform over a grid of episode thumbnails representing passive podcast and video content

Audio and video are the dominant industrial content formats now, not because every buyer prefers them, but because they're the formats buyers can consume in the spare moments they actually have. Ed runs the Industrial Growth Institute Podcast for exactly this reason: it's the format that gets in front of operators, executives, and PE partners during the windshield time, the gym time, and the dog-walk time. That's where industrial content gets consumed today, not at a desk, with a coffee, opening a 24-page whitepaper.

The marketing teams winning the trust battle are the ones producing audio and video on a sustained cadence, not the ones running monthly campaigns. The bar isn't production polish; it's authenticity, frequency, and the ability to keep doing it for 18 months before it starts compounding. The companies that quit at month six are the same companies wondering why their content marketing 'didn't work.'

Primary CTA · No Pitch · No Sequence

Talk to Ed About Your Sales Team

Sharp diagnostic questions. An honest read on whether Ed can help, and if he can't, who can.

An honest read on your sales team.

No pitch deck. No proposal cycle. No follow-up automation. Ed asks sharp diagnostic questions about your organic growth challenge and gives you an honest read on what's actually happening.

  • A clear next step, a better referral, or a few things you can do this week
  • Ed's read on whether your sales problem is people, process, or strategy
  • If Ed isn't the right fit, he'll tell you who is
Ed Marsh, industrial sales growth consultant, in a pink dress shirt
Ed Marsh
Consultant · Speaker · Director · Author · Veteran
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