Compared to Business-to-Consumer marketing, the effectiveness of Business-to-business marketing is a relatively under-studied field.
So a report written by EffWeek contributors, Peter Field and Les Binet, and launched by the B2B Institute, a think tank funded by LinkedIn, is designed to shed light on the core drivers of effective B2B marketing.
It identifies five key principles behind effective B2B advertising and communications:
- Invest in share of voice
- Balance brand and activation
- Expand your customer base
- Maximise mental availability
- Harness the power of emotion
Whilst these principles are similar to those which drive successful communications to consumers, they need to be differently applied to appeal to businesses. Worryingly, a recent survey of marketers by LinkedIn Marketing Solutions also suggests that many B2B marketers are doing the exact opposite of following these rules – for instance, placing more belief in loyalty-based strategies rather than customer acquisition.
You can download the full report from the B2B Institute website.
“Just what the industry needs, great collaboration between clients and agencies on the topics that drive business growth.”
Bridget Angear, Joint Chief Strategy Officer at AMV BBDO
“It’s great to see the IPA in the UK bring the whole industry and particularly the trade bodies together to focus on effectiveness. This new Marketing Effectiveness initiative will enable people across the industry to work together to build on best practice.”
David Wheldon, Chief Marketing Officer, RBS
“Effectiveness is a team sport, so it was great to see the industry in the widest sense, come together. In an increasingly diverse and fragmented world, only by using all parts of the brain will we solve effectiveness challenges and design our campaigns to deliver short and long term value. That’s why what happens next is important – if the IPA can help facilitate progress on this with a long-term initiative around Marketing Effectiveness, we’ll definitely crack it.”
Bart Michels, Global CEO Kantar Added Value and Country Leader Kantar UK
“The time spent at #EffWeek was extraordinarily effective. It was great to hear the diverse views from all areas of the industry. All tied together with the common themes of accountability and effectiveness.”
Andrew Canter, Global CEO, BCMA
“It has been a privilege to be part of the inaugural Effectiveness Week. The agenda is one which we at O2 UK feel passionately about. To see and hear perspectives across the industry demonstrates how the breadth of marketing effectiveness is increasingly being valued within businesses. Data, insight, social, customer experience, test and learn, ROI, these are all fundamentals and were covered expansively at the event”.
Sandra Fazackerley, Marketing & Consumer, Telefónica UK Limited
“The full week of effectiveness events brought into clear focus the need for marketers to use data and insight to achieve the key business objectives of growth and profits. Marketers today are in a better position to quantify their knowledge of customers and measure the ability of investments in marketing to increase brand and shareholder value.”
Chris Combemale, Group CEO, DMA