by Andy
August 9, 2011
To catch the ever-present consumer fish, the Four Ps and Five Cs are the basics in any marketer’s tackle box. Products are placed on the shelf at a price consistent with consumer expectations. Blending product quality with effective distribution (place) and promotions (advertising, design, POS, etc.) creates these expectations. How this compares to the competition, how it meets consumer needs, how the company represents itself and the product and other Cs also come into play. More sophisticated analysis is required to make a plan successful, but these basics are a great start. And we see the effects of such efforts all around. Just look around the grocery or stroll around the mall.
This consumer marketing construct is dependent upon one core assumption. The buyer is uninformed. Generally speaking, consumer marketing assumes the shopper is not a category expert. Even if they are, they do not bring this expertise to bear when shopping for, say, cereal or underwear or paint. Since the issues these products solve for are self-apparent – hunger, clothing, shelter — consumer marketing tends to be product-focused to heroically showcase end-benefits. Plus, the cost involved is generally not onerous (under $100) so even if the purchase disappoints, nobody really gets hurts.
What about B2B when the buyer is an expert and his job requires him to make expert purchase decisions on behalf of his company? What if these purchases cost tens of thousands of dollars, even millions?
The informed buyer target changes everything. Why? Because they already know what you sell, the value it provides, the cost, your competitive differentiation and more. It’s their job to know. Make a mistake here and many are affected; jobs lost, profitability slashed, market cap reduced. Do it right and the value to the buyer and seller can be enormous. The decision to buy is very methodical and significant.
This is why B2B is different. Here, reliance on traditional marketing efforts must be thrown out the window. Now the goal is to showcase expertise on issues because they already know your products (or firmly believe they do). What they need to know is how well you know the issues, their issues. The more you showcase you understand the issues, the more they are willing to believe your products may have an advantage in solving for them. Once expertise is established, your solutions and price points become far more alluring.
B2B purchases are big-boy decisions that cannot be taken lightly. Yet relying on traditional consumer marketing efforts and product sales approaches to deliver big-boy success is foolish. The biggest fish are also the smartest fish and immune to traditional tactics. That’s how they got big. A bigger worm will not attract them. A smarter hook will.
Andy,
Your fishing analogy is great! To me this speaks so well to the call for white papers, content strategy and development! One of the most challenging and often under-appreciated by sales team, whose quota driven world has them valuing product sheets over thought leadership.
Andy,
Your fishing analogy is great! To me this speaks so well to the call for white papers, content strategy and development! One of the most challenging and often under-appreciated by sales team, whose quota driven world has them valuing product sheets over thought leadership.
A smarter hook and a fisherman with good instincts
A smarter hook and a fisherman with good instincts
It’s really great that people are sharing this infomariton.
It’s really great that people are sharing this infomariton.
If my problem was a Death Star, this article is a photon torpedo.
If my problem was a Death Star, this article is a photon torpedo.
Hi,Don’t stop blogging! It’s nice to read a sane commentary for once….
Hi,Don’t stop blogging! It’s nice to read a sane commentary for once….
Nice site you are running there. And many thanks for posting this.
Nice site you are running there. And many thanks for posting this.
Great post, I look forward to reading more.
Great post, I look forward to reading more.
Pretty nice. Could you bring more details…
Pretty nice. Could you bring more details…
Good read and excellent analogy, eh?
Good read and excellent analogy, eh?
I really enjoy approaching your blog! your unique strategy to see things is what keeps me fascinated. Thanks so much!!!!
I really enjoy approaching your blog! your unique strategy to see things is what keeps me fascinated. Thanks so much!!!!
Thumbs up to the post author. This is really some interesting information.
Thumbs up to the post author. This is really some interesting information.
B2B Marketing requires expertise not tactics to succeed.
B2B Marketing requires expertise not tactics to succeed.
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Can I just now say that of a relief to discover somebody who actually knows what they’re speaking about on the net. You certainly know how to bring a challenge to light and produce it essential. More and much more people really need to see this and fully grasp this side of the story. I can’t believe you’re less common simply because you definitely hold the gift.