Not all your B2B buyers are actually in buying mode. Only 5% are.
That’s why focusing on 95% of your future buyers may pay better dividends.
The 5% statistic is the research finding by Professor John Dawes at Ehrenberg-Bass Institute and discovered by Jon Lombardo and Peter Weinberg from LinkedIn’s B2B institute during their visit to Australia. It’s the focal point of their podcast conversation with Jon Evans, the Uncensored CMO.
We know B2B brands overwhelmingly focus on rational, tactical, performance marketing, hoping to strike it lucky with active buyers. But, unfortunately, it’s a success strike rate that will achieve a lot less than 5%.
Suppose your brand is struggling for exposure and awareness amongst c-suite decision-makers. There’s little chance a tactical Ad will land just in time for these key decision-makers to see it and buy. No matter how good your product is.
Brand campaigns are about building a steady rapport with your audience over time. Creating Ads that leverage emotional drivers unlocks potential, opens the door and makes buying that little bit easier further down the road.
It’s not a question of ditching performance marketing, far from it. Instead, it’s about balance. Weave both brand building and performance marketing into your ongoing campaign activities.
By consistently targeting those in the market to buy today with performance ads, you’re limiting your brand’s future growth and income by some considerable percentage.