Creating dissonance in the B2B buyer’s mind – Part 2

B2B, Business, Marketing, Marketing Stamina, persistence

In my post of 12th April I had written about how B2B sales are not impulsive in nature. If you’re selling something which is a hot new technology and the buyer is a technology fan then you might be able to sell based on just the technology being new.

On the other hand , most B2B businesses have different levels in a buying process for any kind of product or service, especially if you are looking at a mid to large to extremely large companies. In these kind of companies the inertia itself is very large and the processes complex, so getting a process initiated itself is a task.

So until and unless there is a real challenge with a vendor no one wants to change, even if you have done the perfect segmentation and identified them as your ideal customer.

In the post on 12th April I wrote about how your messaging should keep targeting some areas of dissonance. However you cannot create dissonance with one piece of messaging, it will never stick. The longer a vendor has been providing the services to an organisation the bigger is the chance that the vendor’s issues will be ignored. Also not all issues – using an example from calculus – tend to cross the limit/threshold – where the customer snaps.

So when entering with a regular product or service you need to look at a long term time frame of say 2 years – it could be longer depending on the product or service – airplanes as an example – people may take 5-10 years before deciding on moving from say Boeing to Airbus .

Then you need to keep at sending out a weekly mail/postcard or whatever to be in-front of the buyers so that when the limit / threshold is reached they call you out by default. This persistence in marketing or as Dean Graziosi calls it – Marketing Stamina helps you pick up business in the long term.

Till next time then.

Carpe Diem!!!

Who’s not your customer – how it helps in messaging

B2B, Business, differentiation, ideal customer, Marketing, messaging, Positioning, segmentation, single target market

Last 2 posts I have been talking about the benefits of identifying who’s not your customer to ensure a better focus.

Once you know whom you don’t want to target consciously, you can actually build your messaging to ensure you make it clear for whom its not applicable and therefore your Ideal Customer recognises that the message is Only for her.

Whether its in the advertisements or in the email messaging that you build you can consciously list out all the people you don’t want to target. A positive way of doing this from the real estate market could be – “where millionaires reside” – which clearly tells people that if you are not a millionaire you can’t afford the homes.

There are clubs which mention the minimum criteria for joining the club. This way they ensure that they don’t waste time with wannabe’s.

In case of technology and B2B companies – you can decide to target companies who don’t use cloud and eliminate all companies who use cloud by doing messaging – “offer for first time cloud users only”.

By identifying “whos not your customer”, you don’t need to have negative connotations to it. Its just a method to ensure you can get your messaging for your specific niche very strongly aligned to the niche.

Try using this for building your messaging and let me know your results in the comments section below.

Till next time then.

Carpe Diem!!!

Who’s not your customer – Part 2

B2B, Business, ideal customer, Marketing, Positioning, Product Management, segmentation, single target market, Technology

Yesterday I spoke about why having a “Whos’s not your customer” can help put a check from you getting de-focussed from your Ideal Customer / segment / niche.

Who’s not your customer can be seen from different angles – lets explore that in a little more detail.

If you are in the technology space in B2B then it could be – all customers who still use physical IVRs cannot be my customers or all customers where the CIO reports into the CFO cannot be my customers or all customers who don’t use “cloud” cannot be my customer.

Inspite of being in the technology domain you could have non-technology disqualifiers as well – like the CIO reporting to the CFO or if the customer does not have a specialised program for diversity companies. Another disqualifier could be all companies who ask for a credit period of more than 30 days. Depending on the kind of business you are in you can choose the people you don’t want to work with.

Depending on the business you are in these , these disqualifiers help you fine tune your company’s ICP even more. So suppose you are a small company in IT services. As part of the the ICP you realise that you would like to work with multi billion dollar enterprises. However these companies might have payment terms which are 90 days credit. Now even if you were able to get this kind of a customer you may realise that you cannot sustain that kind of credit terms and your business suffers.

In this case it would be a better idea to identify multi billion dollar companies who have payment terms of less than 30 days only as your ideal customer. This way you don’t waste your energy.

As I mentioned yesterday – sometimes when looking at just the positive side of the ICP can defocus you. By identifying the people whom you cannot do business with, whether based on technical or non-technical criteria can dramatically improve your chances of success.

I would like to see your comments if this idea helps you as well.

Till next time then.

Carpe Diem!!!

Creating Dissonance in the B2B buyer’s mind

B2B, Business, Marketing Stamina, messaging, persistence, segmentation

Most B2B purchases are not impulsive in nature, until and unless they are really low value or for some reason are whimsical in nature.

The advantage of doing B2B business is that because its not impulsive, if you do a good job then most often, you end up staying with that customer for a long time.

One reason for this way of things is the inertia in the procurement department, the other is the cost of doing re-evaluation of vendors so until and unless its something which is periodic in nature, procurement departments don’t want to upset the “apple-cart”. If you are the incumbent, then this is good news.

If you are the outsider, then its bad news, because you have to wait a long time to even get entry – if at all into the account. In B2B accounts you have to have a lot of what Dean Graziosi calls “Marketing Stamina” to keep pounding on the doors of your so called prospects.

What helps though is if you have a small niche to focus on. Then you can concentrate your energies and work with what Dean Jackson calls the “inevitability concept”, which is basically saying that over a 2 year period or 3 year period, some incumbents will make a large enough mistake for the customer want to check you out.

Now this wont happen if you are not in front of the customer on a regular basis with some story which drives what Robin Robins calls “the wedge” into the customer’s existing set-up, so that when the wedge is deep enough the customer feels immense pain and calls you. The dissonance that you create should be large enough for the customer to feel a material impact.

It however needs to be understood that if you have 100 possible customers in your niche, then over a two-three year period you may end up picking up maybe 10 of these. What you then need to keep working on is how can you get these 10 to refer you more clients.

In B2B or for that matter in all kinds of customers a “referred” customer is always a better customer to have both from profitability point of view as well as long term engagement.

If you can keep increasing the share of the customer’s wallet on a regular basis and also get referred then you can have terrific growth.

Till next time then.

Carpe Diem!!!