A LinkedIn expert shows us how you can break the rules for better B2B marketing
4 B2B-specific marketing tips to beat your competitors
Haley suggests these ideas could make a big improvement to your advertising and income.
1. The rule 95-5
In the field of branding The 95-5 rule applies to 95% out-of-market category buyers who aren't ready to make a purchase as well as the 5% of market buyers willing to purchase.
This is because advertising often reaches those who don't want to purchase today. To increase the demand for their products, marketers should use advertisements for their brand to attract buyers that aren't yet in the market now, so that when they eventually do get into the market, they see you as an established brand that can fulfill their needs.
"The most effective ads don't fade out. They stay. They are in our minds for a long period of time and create memories that have the power to influence us years later." 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 more than others based on the circumstances they find themselves in when they're shopping for a new item. To be memorable, your brand should be linked by association to key buying situations.
It is important to be very careful in assessing situations. Connect your brand with as many relevant buying situations as possible. It's not all to do with what people think of your company, but how they imagine it.
"People remember great ads. However, the fascinating fact is that memory doesn't exist in isolation from situations since memories are innately contextual." Haley Pierce, Marketing Engagement Lead, The B2B Institute at LinkedIn
3. The delusion of the product
A majority of B2B ads we see are attribute-based and are focused solely on emphasizing successful outcomes. This is referred to as product delusion, and isn't always effective. The top product is not the one with some of the finest features. Instead, the best item is one that the customer already knows.
This is why brand marketing is crucial -- familiarity sells. So, having a distinct and memorable brand is half the battle.
"Because B2B buyers are risk not interested, they tend to go for the brand they trust and are familiar with." Jann Martin Schwartz, Founder and Director 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 at a time. For a B2B business, this strategy is even more effective because excessive advertisement can affect the effectiveness of the message.
It is recommended to adopt a maximumist media strategies and be focused on reaching as wide a range of category potential buyers as is possible.
Break the B2B rules to increase sales
Haley believes that challenging the B2B marketing norm can help improve the marketing plan you implement and improve sales.
The most important thing to remember is to promote your business to a prospective buyer who has yet to choose. This way, when they're ready to purchase then you'll be the company they'd like to purchase from.