The world of B2B marketing is a delicate dance between immediate results and long-term strategy. Tyrona Heath, Director of Market Engagement at The B2B Institute at LinkedIn, offers valuable insights on this topic, stating on the #FACLive Show that “there are really two types of marketing” to consider: demand generation and brand building.
Brand Building: Cultivating Long-Term Relationships
However, B2B marketing success hinges on a broader vision. Heath introduces the “95-5 rule,” highlighting that 95% of your category buyers in B2B are out market or not ready to buy from you at any given time. This is where brand building comes into play.
According to Heath, brand building is the art of “sustaining and building positive brand perceptions over time.” The goal is to create “memories that lead to increased awareness” so that when a potential customer encounters a buying situation, your brand “is top of mind.”
Demand Generation: Capturing Existing Needs
Demand generation focuses on the “immediate sales” and targets the 5% of marketers that are in market right now. These are customers with a current need for your solution, ready to “buy from you right now.”
The Power of Positive Memories
Heath emphasizes the importance of memory in B2B marketing. She states, “we are in the memory business.” By crafting a consistent brand image with “characters, logos, images, creative music,” you “build memory structures” that position your brand for future success.
Missed our live conversation with Tyrona Heath? Replay here
Finding the Perfect Balance
The key to B2B marketing mastery lies in achieving a balance between these two approaches. Demand generation satisfies immediate needs, while brand building cultivates long-term loyalty.
By understanding the role of both demand generation and brand building, B2B marketers can craft a comprehensive strategy that captures current opportunities while ensuring future success. Remember, you’re not just selling a product; you’re creating a brand experience that lingers in the minds of your target audience.
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