A LinkedIn expert explains how to break the rules to better B2B marketing
4 B2B marketing ideas to beat your competitors
Haley states that these suggestions will make a significant improvement to your advertising and income.
1. The 95-5 rule
In the field of brand advertising the rule 95-5 refers on the 95 percent out-of-market category buyers who don't have the time to buy as well as the 5% of customers in the market category who are in a position to buy.
Due to this, advertisements are often targeted to people who aren't ready to buy today. In order to increase demand marketers should make use of branding to reach buyers that aren't yet in the market today, so that when they eventually do get into markets, they perceive your brand as a well-established one with the ability to meet their needs.
"The most effective ads don't fade out, they wear in. They stay with us for long periods of time, building memories that are able to affect us long after the fact." Haley Pierce, Marketing Engagement Lead, The B2B Institute at LinkedIn
2. Situational awareness
People tend to remember certain brand names more than others, based upon the situation they encounter when they're looking to buy. In order to be more popular, your brand must be linked by association to important buying scenarios.
It is important be extremely cautious when measuring the circumstances. Connect your brand with the most relevant purchasing situations as you can. It's not all to do with what people think of your brand but when they imagine it.
"People remember great ads. However, the fascinating fact is that memories rarely exist independently of the context because memories are inherently contextual." Haley Pierce, Marketing Engagement Lead Haley Pierce, Marketing Engagement Lead B2B Institute at LinkedIn
3. The product delusion
A majority of B2B adverts we come across focus only on the positive outcomes. This is known as the product illusion and it doesn't always succeed. 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 because it is a way to sell. Therefore, having a distinctive and memorable brand is already part of the challenge.
"Because B2B buyers are risk cautious, they typically opt to the brands they are comfortable with and already know." Jann Martin Schwartz, Founder and Director of The B2B Institute at LinkedIn
4. Reach maximalism
It's much more effective to contact one million people at once rather instead of reaching 500,000 twice. When it comes to the case of a B2B business, this strategy is much more efficient because overuse of advertisement can affect how effective the message is.
It is recommended to adopt a maximist strategy for your media strategy and focus on reaching as many category buyers as possible.
Overturn the B2B rules to sell more
Haley believes that challenging the B2B marketing norm will help you improve your marketing strategies and boost the number of sales.
The most important thing to remember is to concentrate on promoting your business to a prospective buyer, who is yet to choose. In this way, when they are ready to buy, you will be the name they'd prefer to buy from.