A LinkedIn expert shows us how to break the rules to better B2B marketing
Four B2B marketing strategies to beat your competitors
Haley states that these suggestions could make a big improvement to your advertising and income.
1. The rule 95-5
In the realm of brand advertising, the 95-5 rule refers on the 95 percent of outside-market category buyers that aren't yet ready to purchase, and the 5% in-market category buyers who are willing to purchase.
Because of this breakdown, advertising often reaches those who don't want to buy today. To create more demand marketers should make use of brand advertising to prime buyers who aren't in the market right now, in order that when they do enter to the marketplace, they will see you as an established brand with the ability to meet their needs.
"The most effective ads don't fade out, they wear in. They remain with us for long periods of time, creating memories that have the power to affect us long after the fact." Haley Pierce, Marketing Engagement Lead, The B2B Institute at LinkedIn
2. Awareness of the situation
People tend to remember certain brands over others depending on the situations that they encounter while in the market to purchase. For your brand to become more memorable, your brand should be tied to important buying scenarios.
That means you have to be very careful when measuring the circumstances. Link your brand to the most relevant purchasing situations as possible. Keep in mind that it's not the product of what consumers think about your company, but how they think of it.
"People remember great ads. But the interesting nuance is that memories rarely exist independent of situations because memories are inherently contextual." Haley Pierce, Marketing Engagement Lead Haley Pierce, Marketing Engagement Lead B2B Institute at LinkedIn
3. The illusion of product
The majority of B2B ads we see focus only on the positive outcomes. This is known as product illusion and it doesn't always succeed. The most effective product doesn't have the most sophisticated attributes. Instead, the best product is one that which the consumer already has.
That's why marketing for brands is crucial because it is a way to sell. Thus, having a distinct and unforgettable brand is half the battle.
"Because B2B buyers are risk not interested, they tend to go 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 one million people at once rather instead of reaching 500,000 repeatedly. When it comes to the case of a B2B company, this can be even more effective because excessive advertisement can affect how effective the message is.
The best approach is to take a maximist strategy for your media strategies and be focused on reaching as wide a range of category buyers as possible.
Break the B2B rules and sell more
Haley believes that going against the traditional B2B model of marketing could help you develop the marketing plan you implement and improve the number of sales.
It is important to promote your brand to the future buyer, who is yet to make a decision. So, once they're ready to purchase, you will be the company they'd like to purchase from.