Transforming the B2B buyer journey
The consulting market in the UK could be 20 times bigger than it is - the gap is where buyers decide either not to act, to postpone a decision or to do the work themselves (Source Global Research). “Your role is to help create an imperative to act.”
'Transforming The B2B Buyer Journey,' by Antonia Wade (the CMO of PwC) has plenty of info that's useful to #SMEs as well as BIG businesses.
My key takeaways….
💡The volume of visitors to parts of your website ('About the team' for example) may be much lower than others, but if someone is going to the effort of visiting those pages, they're likely an interesting lead. Make sure those pages are awesome.
💡Send your subject matter experts to conferences.
💡57-70% of the purchasing decision is make before contacting a vendor (Heiman).
💡 In many B2B companies around 80% of profitable revenue comes from just 20% of customers (Burgess).
💡Account-Based Marketing (ABM) can yield significantly greater returns than other forms of marketing expenditure.
💡Peak-end rule: Our memory of past experiences (pleasant or unpleasant) does not correspond to an average level of positive or negative feelings but to the most extreme point and the end of the experience (Kahneman).
💡Once you have created advocates, build heroes out of them.
💡91% of customers say they’d give referrals but only 11% of salespeople ask for them (Carnegie).
💡When you give someone something of value, they feel compelled to give you something in return.
💡71 percent of B2B advertisers score 1 on a 1-5 scale of creative effectiveness (LinkedIn B2B Institute).
💡Figure out the specific objectives of prospects and appeal to them. A CIO might be trying to figure out how they can acquire customers from other energy providers that have gone out of business. Start from how you help them solve that, rather than how to tee up a sales conversation on cloud technology.
💡There isn’t a role in marketing these days that doesn’t involve data.
💡 Buyers will not be in the market all the time - so your brand needs to be always on to build low-level salience for when they’re ready to buy.
💡 Look at your competitor’s marketing materials. Print them out and stick them all over the room. Be different.
💡The work marketers do on brand and content is really the only thing that senior internal people at most companies actually see.
💡77% of marketers are attempting to prove ROI of their campaigns within a month of them running (LinkedIn). This is not long enough to change brand perception or become memorable in the minds of buyers not yet in the market to buy something.
💡B2B agencies rarely get fired for inadequate strategy or creativity. They get fired for operational and account management issues - for being unreliable.
💡With clarity and candor comes trust. With trust comes better and more effective work.
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