A LinkedIn expert explains ways to defy the norms to better B2B marketing
4 B2B-specific marketing tips to beat your competitors
Haley suggests these ideas can make a huge impact on your marketing revenues.
1. The rule 95-5
In the field of advertising for brands, the 95-5 rule refers to the 95% of out-market category buyers that aren't yet ready to buy and the 5% customers in the market category who are in a position to buy.
Because of this breakdown, advertising often reaches those who don't want to purchase right now. To increase the demand for their products marketing professionals should utilize branding to reach customers who aren't on the market now, so that when they eventually do get into to the marketplace, they perceive your brand as a well-established one which can meet their requirements.
"The most effective ads don't fade out. They stay. They remain with us for long periods of time, creating memories that are able to influence us years later." Haley Pierce, Marketing Engagement Lead Haley Pierce, Marketing Engagement Lead B2B Institute at LinkedIn
2. Awareness of the situation
It is common for people to associate certain brand names more than others, based on the circumstances they are in when they're looking to buy. For your brand to become more popular, your brand must be tied to important buying scenarios.
That means you have to be very careful in assessing scenarios. Connect your brand with the most relevant purchasing situations as possible. Remember that it's never to do with what people think of your company, but how they think of it.
"People remember great ads. The interesting thing is that memories rarely exist in isolation from situations since memories are innately contextual." Haley Pierce, Marketing Engagement Lead, The B2B Institute at LinkedIn
3. The illusion of product
The majority of B2B adverts we come across focus exclusively on highlighting successful results. This is referred to as product delusion and doesn't always work. Most of the time, the most effective product doesn't have the most sophisticated attributes. The best item is one that which the consumer already has.
This is why brand marketing is crucial as it helps sell. Therefore, having a distinctive and unforgettable brand is half the battle.
"Because B2B buyers are risk averse, they usually go on the brand they have confidence in and already know." Jann Martin Schwartz the Founder and Head of the B2B Institute at LinkedIn
4. Reach maximalism
It is more lucrative to connect with one million people at once rather than to reach 500,000 people twice. When it comes to a B2B brand, this is even more effective because excessive advertisement can affect the efficacy of the message.
You should adopt a reach maximist strategy for your media strategies and be focused on reaching as many category customers as you can.
You can break the B2B rules to sell more
Haley believes that challenging the standard B2B marketing practice could help you develop your marketing strategy and increase sales.
It is important to concentrate on promoting your company to a potential purchaser who is still to decide. So, once they are ready to buy, you will be the name they'd prefer to buy from.