A LinkedIn expert shows us how to break the rules for better B2B marketing
4 B2B-specific marketing tips to beat your competitors
Haley suggests these ideas could make a big difference to your marketing and income.
1. The rule 95-5
In the world of brand advertising the rule 95-5 refers to 95% of out-market category buyers that aren't yet ready to make a purchase as well as the 5% of in-market category buyers who are willing to purchase.
Due to this, ads are typically targeted at consumers who aren't in a position to purchase right now. In order to increase demand marketing professionals should utilize brand advertising to prime buyers that aren't yet in the market right now, in order that when they finally enter the market, they will see you as an established brand which can meet their requirements.
"The most effective ads don't fade out. They wear. They remain on our screens for long periods of time and create memories that are able to influence us years later." Haley Pierce, Marketing Engagement Lead Haley Pierce, Marketing Engagement Lead B2B Institute at LinkedIn
2. Alertness to the changing environment
It is common for people to associate certain brands over others depending on the circumstances they are in when they are in the market to purchase. For your brand to become more popular, your brand must be tied to key buying situations.
It is important be extremely cautious when evaluating situations. Make sure to connect your brand to as many relevant buying situations as you can. It's not all about what buyers think of your company, but how they hear about it.
"People remember great ads. But the interesting nuance is that memories rarely exist independent of situations because memories are innately contextual." Haley Pierce, Marketing Engagement Lead, The B2B Institute at LinkedIn
3. The delusion of the product
Most B2B ads we see are attribute-based and are focused solely on emphasizing successful outcomes. This is known as product illusion and it doesn't always succeed. In most cases, the top product is not the one with the most sophisticated attributes. The best product is the one the customer already knows.
That's why marketing for brands is essential as it helps sell. So, having a distinct and memorable brand is just half the fight.
"Because B2B buyers are risk cautious, they typically opt to the brands they are comfortable with and have already come to know." Jann Martin Schwartz, Founder and Head of The B2B Institute at LinkedIn
4. Reach maximalism
It is more lucrative to connect with 1 million people once instead of reaching 500,000 at a time. If you're the case of a B2B company, this can be even more effective because excessive advertisements can degrade the efficacy of the message.
The best approach is to take a maximist strategy for your media strategy and focus on reaching as many category potential buyers as is possible.
Break the B2B rules to increase sales
Haley believes that challenging the B2B marketing norm will help you improve your marketing strategy and increase the number of sales.
It is important to concentrate on promoting your brand to the future buyer who has yet to decide. In this way, when they're ready to buy it will be your name they'd prefer to buy from.