A LinkedIn specialist shows how you can break the rules for better B2B advertising
4 tips on B2B marketing specific to your business which will help you outperform your competition
Haley says that these tips can make a huge impact on the amount of marketing revenue you earn.
1. The 95-5 rule
Within the world of branding, the rule 95-5 applies to 95% of out-of-market category consumers who do not have the time to buy and the remaining 5% category buyers that are financially positioned to purchase. This is because advertising is typically directed at those who don't want to purchase today. In order to increase interest in their product, they should make use of brand advertising to prime buyers that haven't been able to purchase today, so that once they do finally get into to the marketplace, they see the brand as a reputable brand which can meet their requirements.
"The most effective ads don't fade out. They are a part of the culture. They are ingrained in our brains for a lengthy duration of time, and they create memories that have the power to affect us long after." Haley Pierce, Marketing Engagement Lead of LinkedIn's B2B Institute at LinkedIn
2. Awareness of the circumstances
It is common for people to associate particular brands more than others based upon the circumstances they encounter when they are looking for something new. For a better chance of being remembered, your company's name is required to be associated with significant shopping events.
So, you need to be cautious in assessing situations. Link your brand to those buying scenarios that are as relevant as you can. It's not all to do with what people think about your brand however, what they are thinking of when they hear it.
"People remember great ads. But the interesting nuance is that memories rarely exist independently of the context because memories are intrinsically contextual." Haley Pierce, Marketing Engagement Lead Haley Pierce, Marketing Engagement Lead B2B Institute at LinkedIn
3. The appearance of the product
A majority of B2B advertising we see is attribute-based, and focus exclusively on the positive results. This is known as product delusion and it's not necessarily effective. In most cases, the most effective product doesn't have some of the finest features. Instead, the best product is one that customers already have a good idea about.
That's why marketing for brands is crucial -- familiarity sells. Thus, establishing a distinct and well-known brand is only part of the battle.
"Because B2B customers are cautious about risk They tend to go with the brands they are comfortable with and are familiar with." Jann Martin Schwartz, Founder and Head of The B2B Institute at LinkedIn
4. Reach maximalism
It's more profitable to reach one million people in a single instance rather than reaching 500,000 people twice. If you're in a B2B business, this strategy is even more effective since excessive marketing takes a toll on the efficacy of the advertisement.
The best approach is to adopt a maximalist approach to media, and concentrate on reaching as many category potential buyers as is possible.
Break the B2B rules to increase sales
Haley believes that challenging traditional B2B model of marketing will assist you in the improvement of the marketing strategy you employ and increase sales.
The key takeaway is that you should promote your brand's image to the future buyer, who is yet to decide. This way, when they are ready to buy then you'll be the brand they'll want to purchase from.
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