A LinkedIn specialist demonstrates the best ways to defy guidelines for a better B2B business marketing
4 B2B-specific marketing tips to beat your competitors
Haley says these four ideas will make a significant improvement to your advertising and income.
1. The rule 95-5
In the field of advertising for brands, the 95-5 rule refers to 95% of outside-market category buyers who don't have the time to make a purchase and the 5% of market buyers in a position to buy.
This is because advertising often reaches consumers who aren't in a position to purchase today. To increase the demand for their products marketers should make use of advertisements for their brand to attract buyers who aren't in the market now, so that when they eventually do get into to the marketplace, they perceive the company as an established brand with the ability to meet their needs.
"The best ads don't wear out, they wear in. They remain with us for long periods of time, creating memories with the potential to influence us years later." 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 brand names more than others, based on the situations that they are in while in the market to purchase. To be popular, your brand must be linked by association to key buying situations.
It is important to take care when measuring the circumstances. Link your brand to the most relevant purchasing situations as you can. Keep in mind that it's not to do with what people think of your brand but when they imagine it.
"People remember great ads. But the interesting nuance is that memory doesn't exist in isolation from situations since memories are inherently situational." Haley Pierce, Marketing Engagement Lead Haley Pierce, Marketing Engagement Lead B2B Institute at LinkedIn
3. The product delusion
The majority of B2B advertisements we encounter are attribute-based and are focused only on the positive outcomes. This is referred to as product delusion and doesn't always work. In most cases, the best product does not have features that are the most advanced. In reality, the most effective item is one that customers already know about.
That's why marketing for brands is so important -- familiarity sells. Therefore, having a distinctive and memorable brand is already just half the fight.
"Because B2B buyers are risk not interested, they tend to go on the brand they have confidence in and have already come to know." Jann Martin Schwartz, the Founder and Head of The B2B Institute at LinkedIn
4. Reach maximalism
It is more lucrative to connect with one million people in one go instead of reaching 500,000 repeatedly. For the case of a B2B business, this strategy is far more effective since excessive advertisement can affect the effectiveness of the message.
The best approach is to take a maximalist approach to your media strategy and focus on reaching as wide a range of category buyers as possible.
Overturn the B2B rules to increase sales
Haley believes that going against the standard B2B marketing practice could help you develop your marketing strategy and increase sales.
The key takeaway is to focus on advertising your brand to the future buyer who has yet to decide. In this way, when they are ready to buy it will be your brand they want to buy from.