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Rational versus emotional – inside the mind of your buyer
This document discusses how emotion is important in B2B marketing because business people are still people with emotions even at work. It argues that the common assumptions that business decisions are made entirely rationally and through a single logical decision are flawed, as purchasing decisions actually involve many "micro-yesses" that are highly emotive. The document introduces behavioural economics as a framework that combines neuroscience and psychology to understand how people actually think and make decisions using two systems - fast, intuitive thinking and slow, rational thinking. It discusses various cognitive biases and techniques like framing, cognitive ease and implicit/explicit goals that can influence purchasing decisions in emotionally-driven ways.
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Rational versus emotional – inside the mind of your buyer
- 1. Summary: In B2Bmarketing, using emotion is actually rather rational. Inside the mind of the buyer.
- 4. OBJECTION! But thisis ‘charity/consumer/whatever’ We’re in B2B. Please go away.
- 5. Emotion IS important Because business people are still people. They just happen to be at work.
- 6. _Open this email! _Visit my website! _Download this whitepaper! _Follow me on Twitter! (And even occasionally): Buy something! We’re in the business of persuasion.
- 7. So how’s thatgoing? www.earnest-agency.com Too often we miss the mark Or we get it right, but don’t know why…
- 8. We’ve always madetwo big assumptions No.1 That business people are rational They have access to a vast amount of buyer research info which they use actively. They make informed decisions. They weigh up all the options in an objective way
- 9. The truth: peopleare really weird We are always lacking consideration time We are inherently lazy thinkers We are hugely subject to biases.
- 10. No.2 That it’sa SINGLE decision With clear collaboration That’s logically thought through Based on business reasons
- 11. The truth: A9 month sales cycle is more like 100 ‘micro-yesses’ Each micro-yes is likely to be HIGHLY emotive “The buyers pipeline requires a series of micro-yesses before getting to that macro yes.” Brandon Stamschrar, MECLABS
- 12. Proof: persuasion ispredictably unpredictable Vs
- 13. The science bit Behavioural economics A blend of neuro-science and behavioural psychology NOT made up by science fiction writers or mentalists NOT a silver bullet* (*always include a caveat…)
- 14. What does itgive us? A research-based framework for how we think What drives us. And ultimately, how we make decisions.
- 15. Underpinning everything wedo – two systems of thinking www.earnest-agency.com What did you think about this morning? What tasks & actions did you do? Were they the same?
- 16. A science-based frameworkfor marketing Source: D Kahneman. Thinking Fast and Slow
- 17. This is howour brains like to operate Source: D Kahneman. Thinking Fast and Slow
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- 19. www.earnest-agency.com Because withoutit, things like this would kill us. Image: Unsplash.com <Thomas Lefebvre> Why?
- 20. Back to persuasion How do we make people say ‘yes’? How do we become a ‘system 1 marketer’?
- 21. Cognitive ease Goalarchitecture Framing Biases
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- 23. Simple, clear language Familiar Repetitive Human endorsement Smile / good mood Complicated Change ‘One off’ ‘Lonely decision’ Intangible Reduce (perceived) pain. Increase (perceived) gain.
- 24. COMPLEX = COGNITIVESTRAIN HARDER TO UNDERSTAND = PAINFUL = HIGHER PERCEIVED RISK =
- 25. Framing and ourterrible ability to make decisions
- 26. Framing and ourterrible ability to make decisions 84% 16%
- 27. Framing and ourterrible ability to make decisions 16% 84%
- 28. Goal drivers “Tounderstand people one needs to understand what leads them to act as they do, and to understand what leads them to act as they do one needs to know their goals.”
- 29. www.earnest-agency.com Think ofthem like this… EXPLICIT goals IMPLICIT goals Category specific Driven by the organisation Need to demonstrate you satisfy these goals to be ABLE to be considered Buyer specific Driven by the individual Will differentiate your offer and RAISE consideration
- 30. Our response? ‘Issues-basedmarketing’. (Sounds a good idea, actually flawed…)
- 31. Cut your costs! Business agility! Improve productivity! Business transformation! Streamlined efficiency! Great ROI!
- 32. Fulfilling explicit goalsis a hygiene factor not differentiating
- 33. Personal value trumpsbusiness value x 2
- 34. Earnest Goal Matrix:Goal Drivers in B2B Progress Stimulation Recognition Avoidance Obligation Control PROMOTION PREVENTION I need to do this to get ahead I need to do this to learn / because it looks interesting I need to do this to look good I need to avoid losing out / losing something I need to do this because it’s expected of me I need to do this to stay in control Gain an advantage over others; Lead the field Personal discovery; Learning experience; Receive acclaim; advance career Be secure; Prevent losses; Avoid threats Need to comply; fulfill promises; Be true to my word Stay on top; Maintain status quo; Be empowered Go-getter Status seeker Adventurer Worrier Controller Box-ticker Implicit goals Primary driver Motivations Persona
- 35. www.earnest-agency.com When itcomes to asking the question: Which of these service providers will do the best job? Buyers can end up asking: Which of these sales people do I like the best? Which of these brands will my boss have heard of? Isn’t it easier to go with the guys we’ve always used? Image: Flickr <Creative Commons> Biases
- 36. Authority Reciprocity Scarcity Commitment Liking Social proof Anchoring Personal
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- 39. “Marketing. It’s hardlyrocket science.” “But it is neuro-science.” “Hmm.”
- 40. Some further reading Thinking fast and slow D Kahnemann Predictably Irrational Dan Ariely Decoded Phil Barden
- 41. www.earnest-agency.com earnest-agency.com @earnestagency Sign up to the next instalment: Behave@earnest-agency.com Subject line: Yes