The Importance of Branding and Emotion in B2B Marketing by Ryan Saurer of Google B2B
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Business value is important, but in B2B we’re influenced by emotions more than we think. Emotional impact affects the bottom line, and the touchpoints driving this are digital. To cut through all the noise and be successful, a B2B brand needs orchestrated messaging that should entertain, inform, provide utility, and most importantly, personal value to its customers.
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The Importance of Branding and Emotion in B2B Marketing by Ryan Saurer of Google B2B
- 1. Google Confidential and Proprietary 1Google Confidential and Proprietary 1 The Importance of Branding & Emotion in B2B Marketing
- 2. Google Confidential and Proprietary 2Google Confidential and Proprietary 2 How do our customers make decisions??
- 3. Google Confidential and Proprietary 3Google Confidential and Proprietary 3 Throw away the idea of the old “purchase funnel” Awareness Consideration Preference Action
- 4. Google Confidential and Proprietary 4Google Confidential and Proprietary 4 The new customer journey looks more like this Purchase Evaluation Consideration Awareness Advocacy Source: McKinsey, June 2009
- 5. Google Confidential and Proprietary 5Google Confidential and Proprietary 5 So how can you make an impact? Successful campaigns are not just about selling stuff or creating more unwanted noise
- 6. Google Confidential and Proprietary 6Google Confidential and Proprietary 6 How can we build a strong brand??
- 7. Google Confidential and Proprietary 7Google Confidential and Proprietary 7 Why is branding important? Companies know who they are. Companies know what they are. But brands know who they are, what they are and why they are. And the “why” determine the value of your product.
- 8. Google Confidential and Proprietary 8Google Confidential and Proprietary 8 16 “Grainger: for the ones who get it done.” “You see a production line—I see a thousand potential things that could go wrong...” Think about current pains, not future gains Source: http://www.youtube.com/watch?v=Ipc9qI4uiH4; : http://www.youtube.com/watch?v=cNTfEU4LaCI; W.W.Grainger, Inc.; CEB analysis.
- 9. Google Confidential and Proprietary 9Google Confidential and Proprietary 9 Business value? high performance efficiency delivers business outcomes reliability good value for the money performs as promises solves problems
- 10. Google Confidential and Proprietary 10Google Confidential and Proprietary 10 high performance efficiency delivers business outcomes reliability good value for the money performs as promises solves problems Business value is a great start 19% 81% Customers don't see business value Customers see business value Percentage of B2B buyers who will definitely consider you Source: CEB/Motista/Google B2B Branding Survey; n=3,000 B2B buyers
- 11. Google Confidential and Proprietary 11Google Confidential and Proprietary 11 But what can you do when business value isn’t enough to differentiate? 14%of B2B customers see enough of a real difference between suppliers to be willing to pay more Onlyhigh performance efficiency delivers business outcomes reliability good value for the money performs as promises solves problems Source: CEB/Motista/Google B2B Branding Survey; n=3,000 B2B buyers
- 12. Google Confidential and Proprietary 12Google Confidential and Proprietary 12 Emotion plays a large role in how B2B customers make decisions!
- 13. Google Confidential and Proprietary 13Google Confidential and Proprietary 13 accomplishment belonging happiness reflects our style secure thrill admire Personal value has significantly more influence than business value 2x Personal value trumps business value by Source: CEB/Motista/Google B2B Branding Survey; n=3,000 B2B buyers
- 14. Google Confidential and Proprietary 14Google Confidential and Proprietary 14 So what does this mean? accomplishment belonging happiness reflects our style secure thrill admire Emotion in important. Even in B2B. Especially in B2B. Source: CEB/Motista/Google B2B Branding Survey; n=3,000 B2B buyers
- 15. Google Confidential and Proprietary 15Google Confidential and Proprietary 15 B2C brands B2B brands 40% 70% 10% Why? More people are involved in the decision making process The decision impacts the organization The decision impacts credibility & career Percentage of customers who feel emotionally connected to brands Source: CEB/Motista/Google B2B Branding Survey; n=3,000 B2B buyers
- 16. Google Confidential and Proprietary 16Google Confidential and Proprietary 16 How does emotion impact my bottom line??
- 17. Google Confidential and Proprietary 17Google Confidential and Proprietary 17 B2B Customers with high brand connection are more likely to buy AND they are more likely to advocate your brand to others 3x more likely to recommend the brand 5x more likely to stand up for the brand Compared to the average B2B customers, B2B customers with high emotional brand connection are: Try this brand! It’s a great brand! Source: CEB/Motista/Google B2B Branding Survey; n=3,000 B2B buyers; compared to the B2B prospects who are satisfied, i.e. have category connection
- 18. Google Confidential and Proprietary 18Google Confidential and Proprietary 18 exists “I have heard the name … maybe” known for something “I know what your brand does/makes” defend “I’ll stand by you no matter what” forgive “I still love you no matter what” represents me “Your brand helps define who I am” known for something I care about “Everyone knows you do this the best” How can you get to that loyalty and advocacy?
- 19. Google Confidential and Proprietary 19Google Confidential and Proprietary 19 How can we connect to customers emotionally??
- 20. Google Confidential and Proprietary 20Google Confidential and Proprietary 20 How are emotionally-connected customers making decisions? Emotionally connected B2B customers use approximately 21 touch points on their path to purchase Source: CEB/Motista/Google B2B Branding Survey; n=3,000 B2B buyers
- 21. Google Confidential and Proprietary 21Google Confidential and Proprietary 21 B2B customers who are exposed to a brand via digital media are more likely to purchase that brand *Compared to those who were not exposed to the brand through that medium Display 47% more likely to purchase Business Products Search 46% more likely to purchase Online Video 86% more likely to purchase Mobile 95% more likely to purchase Source: CEB & Motista, 2013, B2B prospects who are exposed to the brand through that medium indexed against those who are not exposed; based on top three box
- 22. Google Confidential and Proprietary 22Google Confidential and Proprietary 22 Advertising is about orchestration, not integration social out of home online television mobile
- 23. Google Confidential and Proprietary 23Google Confidential and Proprietary 23 How should we message our brand??
- 24. Google Confidential and Proprietary 24Google Confidential and Proprietary 24 What are some ways I can make my ads memorable? Make sure your ads entertain, inform and/or provide utility 2 1 3 Orchestrate all your marketing efforts Highlight personal value
Editor's Notes
- Today, the funnel concept fails to capture all the touch points and key buying factors resulting from the explosion of product choices and digital channels, coupled with the emergence of an increasingly discerning, well-informed consumer. A more sophisticated approach is required to help marketers navigate this environment, which is less linear and more complicated than the funnel suggests. We call this approach the consumer decision journey.Link: http://www.mckinsey.com/insights/marketing_sales/the_consumer_decision_journey
- Mike Yapp Link - http://www.youtube.com/watch?v=xxiCCPCIv7w&feature=youtu.be
- Grainger - http://www.youtube.com/watch?v=Ipc9qI4uiH4
- Mike Yapp – Always Add Value - http://www.youtube.com/watch?v=0fbaG24CHVM&feature=youtu.be
- Another common misconception is that B2B purchase decisions are just about maximizing business value. That’s no longer the case. Our research shows that perceptions of business value barely differ between leading brands within a given industry (see fig 1). Where differentiation does exist, we found that only 14% of business decision makers are willing to pay a premium for it (see fig 2). So while business value is table stakes, the majority of B2B marketing still focuses therein.
- Dan Ariely – we make biased decisions - http://www.youtube.com/watch?v=svr9FNrdsFQ&feature=youtu.be
- Forging emotional connections with consumers has long been at the heart of business-to-consumer (B2C) marketing. For business-to-business (B2B) marketers, it’s not so simple. They ultimately need to reach business decision makers, but those customers deal with the influences of purchasing committees, third-party buying consultants and corporate procurement processes. This framework distances marketer from customer and assumes a “rational” frame that’s devoid of emotion.However, we tend to forget that whenever there are people trying to work together to make a decision, there will be interpersonal and, inevitably, emotional forces at work. With this in mind, could B2B marketing rely on emotional connection even more than B2C?To find out, Google and CEB’s Marketing Leadership Council worked with marketing research firm Motista to survey 3,000 purchasers of 36 B2B brands across multiple industries. We wanted to uncover the reality beyond the basic assumptions that drive B2B marketing and communications. Using the same methodology as their B2C research, we were able to directly compare B2B results to Motista’s baseline consumer data.Peter Pickus – Emotion is Important in B2B - http://www.youtube.com/watch?v=5ZxZ6ed9HkA&feature=youtu.be
- Not only did the B2B brands drive more emotional connections than B2C brands, but they weren’t even close. Of the hundreds of B2C brands that Motista has studied, most have emotional connections with between 10% and 40% of consumers. Meanwhile, of the nine B2B brands we studied, seven surpassed the 50% mark. On average, B2B customers are significantly more emotionally connected to their vendors and service providers than consumers.While it may seem surprising at first, this high level of connection with B2B customers makes a lot of sense. When a personal consumer makes a bad purchase, the stakes are relatively low. Best case, it’s returnable. If not, it might require an explanation to a spouse. Business purchases, on the other hand, can involve huge amounts of risk: Responsibility for a multi-million dollar software acquisition that goes bad can lead to poor business performance and even the loss of a job. The business customer won’t buy unless there is a substantial emotional connection to help overcome this risk.Cisco 67.3% Oracle 62.0% Accenture 61.5% PWC 60.5% SAP 59.0% UPS 59.0% Salesforce 58.5% Deloitte 56.0% Federal Express 51.5% Bellagio 49.3% Apple iPad 42.1% VistaPrint 41.3% L'Oreal Paris 36.3% Microsoft 34.7% Amazon Kindle 30.7% Nordstrom 27.9% Home Depot 21.0% CVS 18.2% Target 16.6% McDonald's 13.4% Walmart 9.5%
- 4X more likely to purchase, 10X more likely to pay a higher price
- [Plot key competitors, too][Universe visual metaphor]ZOLA is an Acai drink, FYI
- This is more than 2X the number of touchpoints compared to people who are not emotionally-connected
- For each of these media, we ran the % of the audience who was exposed to e.g. display for that brand, and the % of the audience who was not exposed to display, and we calculated the index, which is how we got to likelihood. Another way to read this is that those exposed to display are 1.47x more likely to purchase than those who were not exposed.
- Content is liquid. It has to be able to conform to every different media touchpoint there is. Like water in a jug, a glass, or a small cup, your message has to conform to every point there is. If you’re not there, you don’t exist. You can’t just check the box, “Ok, we now have our web page, banner, video, Facebook page, Twitter feed, etc. Orchestrate them all so that there is a single message that works with each other.”
- 1. Path to purchase no longer linnear. 2. Emotional impact is important, especially in B2B. 3. Why? Because emotional impact affects the bottom line. 4. Orchestrate your messages across touchpoints and devices, and messages should entertain, inform, provide utility, and most importantly, PROVIDE PERSONAL VALUE.