A LinkedIn expert shows us how to break the rules for better B2B advertising
4 B2B-specific marketing tips to outperform your competition
Haley says these four ideas can make a huge difference to your marketing and revenues.
1. The rule 95-5
In the world of brand advertising The 95-5 rule applies to 95% of out-market category buyers who aren't ready to buy as well as the 5% of in-market category buyers who are in a position to buy.
Because of this breakdown, advertisements are often targeted to those who don't want to purchase right now. In order to increase demand marketing professionals should utilize brand advertising to prime customers who aren't on the market now, so that when they finally enter markets, they perceive the company as an established brand that can fulfill their needs.
"The most effective ads don't fade out, they wear in. They remain in our minds for a long period of time, building memories with the potential to impact us for years afterward." Haley Pierce, Marketing Engagement Lead Haley Pierce, Marketing Engagement Lead B2B Institute at LinkedIn
2. Awareness of the situation
The way people remember brands is by brands over others depending on the circumstances they are in when they are in the market to purchase. To be popular, your brand must be associated with crucial buying occasions.
This means that you need to take care when evaluating situations. Connect your brand with as many relevant buying situations as you can. Remember that it's never the product of what consumers think about your brand but when they imagine it.
"People remember great ads. The interesting thing is that memory doesn't exist independently of the context because memories are innately contextual." Haley Pierce, Marketing Engagement Lead Haley Pierce, Marketing Engagement Lead B2B Institute at LinkedIn
3. The illusion of product
A majority of B2B advertisements we encounter focus only on the positive outcomes. This is known as product illusion and it doesn't always succeed. In most cases, the most effective product doesn't have some of the finest features. Instead, the best product is the one customers already know about.
This is the reason why branding marketing is essential -- familiarity sells. Therefore, having a distinctive and unforgettable brand is part of the challenge.
"Because B2B buyers are risk cautious, they typically opt for the brand they trust and have already come to know." Jann Martin Schwartz, Founder and Director of the B2B Institute at LinkedIn
4. Reach maximalism
It is more lucrative to connect with one million people in one go than to reach 500,000 people twice. When it comes to the case of a B2B company, this can be much more efficient because overuse of advertisements can degrade the efficacy of the message.
The best approach is to take a maximist strategy for your media strategies and be focused on reaching as many categories of potential buyers as is possible.
Overturn the B2B rules to increase sales
Haley believes that challenging the traditional B2B model of marketing could help you develop the marketing plan you implement and improve the number of sales.
The most important thing to remember is to promote your brand to the future purchaser who is still to choose. In this way, when they are ready to buy, you will be the company they'd like to purchase from.