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B2B Marketing Myth Busting

2022-11-29T18:47:22+00:00November 29th, 2022|JAM Blogs|

B2B Marketing Myth Busting

There always seems to be a bevy of B2B marketing myths floating around. Some were never right. Some used to be correct and no longer are. Maybe some are even urban legends that were never based on any sound marketing theory. 

As we approach the end of 2022, it seems like the perfect time to do a little myth busting. B2B marketing is more complex in many ways than B2C marketing, and the last thing we need is outdated or untrue techniques muddying up the waters. Let’s start 2023 strong with a solid understanding of what should be left by the wayside.

5 Marketing Myths To Leave Behind in 2022

Myth #1: We’re B2B, so being purposeful doesn’t matter.

Busted.

Nothing could be further from the truth. Suppliers, partners, employees and, B2B customers care about purpose more than ever before. Here are a few reasons purpose DOES matter:

  • Talent wars are won with purpose. Even if your culture is strong and your current employees are happy, future hires are increasingly basing their career decisions on whether a company has a demonstrable sense of purpose. In a tight job market, you need every advantage you can get to win the talent wars.
  • Competitive advantages lie in the nuances. Buyers are looking for suppliers and partners that can boost their own standing. By raising your customers’ game, you can leapfrog the competition.
  • Smart companies are leveling up. Savvy B2B organizations are looking at their purpose as a strategic lever for growth and innovation, and exploring opportunities to engage employees, and inspire customers.

(Source)

 

Myth #2: With word-of-mouth referrals, there’s no need for digital marketing.

Busted.

You’re doing amazing work in your B2B business, and your customers appreciate you. You’ve built a stellar reputation and network that feeds your sales funnel with little to no B2B marketing effort. Great job. Unfortunately, your work doesn’t end there. Digital marketing is a non-negotiable channel to explore for your 2023 marketing plans.

  • Word-of-mouth marketing is great until it isn’t. All it takes is an economic downturn, a new competitor or a negative PR event to water down the potency of a reliable word-of-mouth referral network.
  • Don’t leave revenue on the table. Not only does putting all your B2B marketing into one basket create risk, but it might also be akin to leaving dollars on the table. Your knowledge of this word-of-mouth network can help you create a digital marketing effort that targets a look-alike audience. You already have the intel to get started

(Source)

Tapping into the power and reach of digital marketing to maximize word-of-mouth can help boost brand awareness, drive online traffic, and spark new leads.” 

– Jackie Awve, Founder Awve Marketing

CASE IN POINT

For example, one of Awve Marketing’s mixed-use development clients asked us to help bring awareness to its lifestyle retailers. The goal was to generate positive word-of-mouth and drive traffic to the retail center.

We went to digital channels with the word-of-mouth campaign and drew in referrals via social media. The campaign encouraged consumers to visit the client’s retailers and share their moments with a customized hashtag. Whether they were eating sushi, getting a manicure, working up a sweat at the gym or shopping at the local grocery store, we wanted to collect and share these moments.  

The Results: The campaign not only resulted in more foot traffic and engaged residents but also a significant increase in website traffic and Facebook followers.

The Learnings: Through this campaign, we discovered that tapping into user-generated content from local influencers or visitors can be an excellent method to increase engagement and build brand awareness. Ultimately, the key to the campaign’s success was regularly engaging with followers and being highly responsive to commentary.

Myth #3: Blogging is just a hobby.

Busted. 

A major misconception about blogging is that it is just a hobby or more related to B2C businesses, not for B2B marketing. However, blogging has transformed over the years into an affordable, low-cost lead generation tool.

For example, Marcus Sheridan, one of the earliest proponents of content marketing, generated $2 million for his company, River Pool & Spas, after publishing a blog post about how much a fiberglass pool costs.

Blogging is not as simple as you might think, however. Check out a few blogging best practices to help you as you launch into your 2023 B2B marketing plans:

  • One-and-done is not a strategy. Blogging, like any content creation, takes time and effort. That is often why getting inspired to write a blog and creating a comprehensive content strategy are two completely different approaches. We recommend the latter. 
  • Hold yourself accountable. To avoid sporadically publishing blogs here and there, once you’ve created your strategy, add dates and accountability to your blog initiative.
  • Blogs don’t belong only on your blog. Optimize and get more traction from your evergreen content by sharing it via email, social media, and any other channels that make sense for your B2B marketing efforts. (Power blogger tip – Don’t forget to share blogs with employees!)

(Source

Myth #4: Emotion doesn’t play a role in the B2B buying process.

Busted.

It’s understandable why this myth came about because the decision maker is often not using their own budget and focused on business, not personal needs. The perception is that business buying decisions have long been thought to be largely void of emotion and based entirely on logic. At some time in the past, this may have been true, but the tides have turned. B2B buyers have begun to resemble B2C consumers more and more in how they use emotion to make purchasing decisions. 

Check out the results of a recent research study where Google partnered with CEB’s Marketing Leadership Council to research this very topic:

  • 50% of B2B buyers are more likely to buy from you if they feel emotionally connected to your brand and perceive personal value for themselves.

(Source)

 

Myth #5: B2B Marketing Isn’t Even Well-Suited for Social Media

Busted.

A common misperception is that B2B marketers shouldn’t bother with social media since business audiences don’t use social platforms to find serious B2B information. On the contrary, social media and B2B marketing go hand-in-hand these days. Savvy marketers recognize the importance of this intertwined system and work to reach their audience on every social channel where their brand’s customers are actively engaging. 

Here are some numbers to back up this busted myth. 

  • Nearly everyone used social media in 2020, with global active social media users topping the 3.8 billion mark recently, including almost all the business professionals in every B2B industry.

(Source


Ready to get started on a review and refresh of your marketing strategy?

Zoom with Jackie over lunch every Friday from 1 p.m. to 2 p.m. for a Marketing Jam Session! Please RSVP at jackie@awvemarketing.com.

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Passionate about making positive contributions to the Commercial Real Estate industry, Jackie Awve develops branding and communications programs that create value and business opportunities.

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