A LinkedIn expert explains how to break the rules to better B2B marketing
Four B2B marketing strategies to beat your competitors
Haley states that these suggestions can make a huge difference to your marketing and revenues.
1. The 95-5 rule
In the world of branding the rule 95-5 refers on the 95 percent of out-market category buyers that aren't yet ready to make a purchase and the 5% of market buyers in a position to buy.
Due to this, advertisements are often targeted to people who aren't ready to buy today. To increase the demand for their products, marketers should use 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 your brand as a well-established one that can fulfill their needs.
"The most effective ads don't fade out. They wear. They remain in our minds for a long period of time, creating memories that have the power to impact us for years afterward." Haley Pierce, Marketing Engagement Lead Haley Pierce, Marketing Engagement Lead B2B Institute at LinkedIn
2. Alertness to the changing environment
The way people remember brands is by brands over others depending on the circumstances they are in while in the market to purchase. In order to be more memorable, your brand should be associated with crucial buying occasions.
This means that you need to be very careful in assessing scenarios. Link your brand to the most relevant purchasing situations as you can. Keep in mind that it's not the product of what consumers think about your company, but how they hear about 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 adverts we come across are attribute-based and are focused solely on emphasizing successful outcomes. This is known as product delusion, and isn't always effective. Most of the time, the most effective product doesn't have some of the finest features. The best product is the one the customer already knows.
That's why marketing for brands is so important -- familiarity sells. Thus, having a distinct and unforgettable brand is just half the fight.
"Because B2B buyers are risk not interested, they tend to go on the brand they have confidence in and already know." Jann Martin Schwartz the Founder and Head of the B2B Institute at LinkedIn
4. Reach maximalism
It's more profitable to reach 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 far more effective since excessive advertisement can affect the effectiveness of the message.
It is recommended to adopt a maximalist approach to your media strategies and be focused on reaching as many category buyers as possible.
You can break the B2B rules and sell more
Haley believes that going against the B2B marketing norm will help you improve your marketing strategies and boost sales.
It is important to concentrate on promoting your brand to the future buyer who has yet to make a decision. In this way, when they're ready to purchase it will be your name they'd prefer to buy from.