In the world of B2B marketing, one key insight is emerging: your job is to make it easier for the buying group to agree. This concept, highlighted in recent research by LinkedIn and Bain & Company, underscores a shift from individual persuasion to group dynamics.
Understanding the B2B Buying Group
1. The Central Role of the Buying Group
In B2B purchases, decisions aren’t made by individuals but by a collective of ‘target’ and ‘hidden’ buyers. This group includes domain experts (e.g., CIOs) and process stakeholders (e.g., procurement, finance, legal). The dynamics among these members can make or break a deal.
2. LinkedIn and Bain’s Insight
LinkedIn and Bain’s study reveals that the buying group’s emotional needs are critical. They classify buyers into:
- Target Buyers: Domain experts focused on specific needs.
- Hidden Buyers: Process-focused individuals driven by organisational politics and operational concerns.
Both groups influence the decision almost equally. Hidden Buyers may even be more emotively driven than Target Buyers. The study also suggests that brand recognition across the entire group is often more crucial than the product’s price or quality.
Why Group Dynamics Matter in B2B Marketing
1. The Impact of Groupthink
The dynamics of buying groups are pivotal. As noted by Forrester, Gartner, and Challenger, the size of buying groups is growing, and larger groups are less likely to commit quickly. The influence of groupthink and the path of least resistance are vital.
2. Emotional Contexts and Decision-Making
Group decisions often follow the path of least resistance, influenced by the emotional and political climate within the group. For instance, office rivalries or personal insecurities can significantly affect buying decisions.
Applying the Insight: Practical B2B Marketing Strategies
1. Improving Optics with ABM
In Account-Based Marketing (ABM), the goal is less about direct persuasion and more about improving the ‘optics’. This means:
- Showing Up Consistently: Be present at every stage of the buying process.
- Engaging Chemistry: Create meaningful interactions with all decision-makers.
- Listening to All: Ensure every member feels heard and valued.
2. Building Brand Salience
For broader brand building, consistency is key. Repeatedly showcasing your brand helps build ‘salience’. When buyers are familiar with your brand, they are more likely to think of you first when making decisions. According to LinkedIn’s research, 81% of purchases involve brands that the entire buying group knew in advance.
The Role of Concepts and Ideas
1. Shaping Collective Thought
Marketing isn’t just about promoting a brand but also about endorsing concepts. For example, terms like ‘data-driven’ or ‘AI’ have become popular because they reflect broader trends. Creating and promoting these concepts can help buyers align around them.
2. Historical Examples
Take Eloqua and Marketo as examples. They successfully stimulated demand for marketing automation by popularising the concept of ‘modern marketing’, leading to widespread adoption of their high-end email platforms.
Evaluating Your B2B Marketing Strategy
1. The Buyer-Friendly Litmus Test
Ask yourself:
- Does our thought leadership reinforce ideas that the buying group is aligned with?
- Does our positioning create distinction between our offering and competitors?
- Does our brand build salience and recognition across the buying group?
- Does our ABM strategy improve optics, making the decision process smoother?
- Does our sales process provide clarity, making the choice easier for the buying group?
Conclusion
In B2B marketing, understanding and influencing group dynamics is essential. By focusing on the buying group’s collective needs and emotional drivers, you can make it easier for them to agree, thus improving your chances of winning the deal.
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