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The Five Golden Rules of B2B marketing by Mark Jones
- 1. Brand storytelling driving growth The Five Golden Rules of B2B Marketing Mark Jones, Chief Storyteller + CEO, Filtered Media
- 2. Beliefonomics © Mark Jones 2019
- 3. Source: Gartner, 2019 Beliefonomics © Mark Jones 2019 Predictive Analytics Native Advertising Influencer & Advocacy Artificial Intelligence Real-time marketing Customer Data Platforms HOT NOT
- 4. Beliefonomics © Mark Jones 2019 Q: What’s thebiggest issue in B2B marketing?
- 5. Beliefonomics © Mark Jones 2019 It’s not easy…
- 6. Beliefonomics © Mark Jones 2019 Speed of change Data deluge Martech silos + FOMO Unstable budgets, resourcing Marketing, meet sales! What’s mystory? Who are they? Workplace silos Stressed? Let me count thy ways…
- 7. Beliefonomics © Mark Jones 2019 2017 2 years 11 months 2018 2 years 10 months 2019 2 years 5 months CMO Australia ‘State of the CMO’ research CMO tenure
- 8. Beliefonomics © Mark Jones 2019 Memo toCEOs: Your brand isn’tthe story…
- 9. Beliefonomics © Mark Jones 2019 Five Golden Rules of B2B Marketing
- 10. Beliefonomics © Mark Jones 2019 #5. Simplicity is joy
- 11. Beliefonomics © Mark Jones 2019 “Most of our choices are not the result of careful deliberation. We live in the moment, resist change, are subject to distorted memory, and are affected by physiological and emotional states.” Source: Behavioraleconomics.com Behavioral economics
- 12. Beliefonomics © Mark Jones 2019
- 13. Beliefonomics © Mark Jones 2019 “Simple can be harder than complex: You have to work hard to get your thinking clean to make it simple. But it’s worth it in the end because once you get there, you can move mountains.” ― Steve Jobs
- 14. Beliefonomics © Mark Jones 2019 #4. Reduce friction
- 15. Beliefonomics © Mark Jones 2019 What’s wrong with this picture? Source: Stramark.nl
- 16. Beliefonomics © Mark Jones 2019 #3. Experience is everything
- 17. Beliefonomics © Mark Jones 2019 “Buyers judge their experience throughout the sales process as indicative of their likely experience once they become customers.” Walker, 2019
- 18. Beliefonomics © Mark Jones 2019 #2. Pyschographics, not demographics
- 19. Beliefonomics © Mark Jones 2019 Not who, but why… Age Gender Location Marital status Ethnicity Occupation Education PsychographicsDemographics Beliefs Emotions Interests Values Outlook Leisure vs. Work Good/Fast/Cheap
- 20. Beliefonomics © Mark Jones 2019 #1. Belief trumps trust
- 21. Beliefonomics © Mark Jones 2019 How stories change the world Hearts Minds Belief Moment “Economic decision making is 70% emotional and 30% rational.” Daniel Kahneman (Gallup)
- 22. Beliefonomics © Mark Jones 2019 The Great Hack
- 23. Beliefonomics © Mark Jones 2019 The rise of belief statements ... travel is better when you experience it as an insider. … a love of wild and beautiful spaces demands participation in the fight to save them. … the world needs to transform to sustainable energy sources. … in challenging the status quo. We believe in thinking differently.
- 24. Beliefonomics © Mark Jones 2019 Plato
- 25. Connect with me on LinkedIn mark@filteredmedia.com.au Mark Jones, Chief Storyteller + CEO, Filtered Media Thank you!
Editor's Notes
- How do you simplify your approach to B2B marketing? We live in an industry that’s overflowing with Jargon!
- 2018 was supposed to be the year of H2H marketing, according to Inc magazine! I used to be a journalist, so I have a very sensitive ear when I first heard someone say was time to rename B2B and B2C marketing as Human-2-Human. I hated this idea immediately So much so that I created this meme for you today. However, I DO love the idea of brands connecting with real people. We need to shift our mindsets from a preoccupation with the technology and tactics to focus on the PEOPLE.
- This is my take on the latest version of the Gartner Digital Marketing Hype Cycle, published in August 2019. Remember that all technologies and trends largely follow this cycle. The move from the Peak of Inflated Expectations, down into the Trough of Disillusionment, then out to the Plateau of Productivity. Our jargon, interest and attention follows the emotion connected to these trends. This is good context to remember when analysing your B2B strategy. What’s important to you NOW and what will be important LATER?
- STOP for a moment. What do you think is the biggest issue or problem we face as B2B marketers? This is a nice cathartic moment for us all!
- We need to understand it from this perspective. Keep it simple – B2B marketing is inherently complex. We sell to clients, who in turn create products and services for their clients/customers. Are you focused on your clients, or do you have the end beneficiaries in mind? Here’s a tip: we need to keep our eye on what ultimately matters to our client’s clients! What are their drivers, what is their mindset, and how can we incorporate these insights into our strategy? Forget the jargon, think about the people.
- A moment of reflection. All of these issues are shared across the agency and in-house landscape. The insight here is that it can create a sense of instability in our industry. We don’t do ourselves any favours when we’re arguing about jargon, either!
- Reflecting the “not easy theme” is this research from CMO Australia. Falling CMO tenure is associated with a culture that demands short-term results. There’s a healthy industry-wide conversation unfolding around the value of long-term brand building and creating long-term loyal customers. How will we reverse this decline in tenure, or alternatively, build long-term strategies and more effectively “pass the baton” from one CMO to another?
- Final piece on the complexity. B2B CEOs and leadership are, broadly speaking, focused on the story of their brand. A few themes are dominant, in my experience: We think more about our company’s performance, not the stories of our customers. We’re dominated by rational thinking. “If customers just understood these few facts about how great we are, they’d by more products!” Of course, the reality is different. If you want to succeed you need to care about customer success more than your own.
- And so we get to my Five Golden Rules. High-level principles to guide your decision making, strategies and activities.
- This is a global awakening. We’re shifting from big, complex thinking to how every message can be simple. The benefit? JOY. That is, a simple and compelling message, story, or idea, actually makes us HAPPY.
- This illustrates the demand side. We’re waking up to the fact we’re not inherently rational humans. Behavioural economics is influencing government decision making around the world. Isn’t it interesting that Governments are apparently looking at better ways of understanding people – not just as rational decision makers, but emotional human beings. https://www.behavioraleconomics.com/resources/introduction-behavioral-economics/ It’s not a new idea, but it is gaining traction. It also challenging the logic-driven mindset in many B2B organisations.
- Daniel Kahneman won Nobel Prize for behavioral economics. He has a simple message. Big companies can no longer get away with “obfuscation.” Consumers are demanding clear, simple messages. We want contracts (Ts & Cs) that are simple. We want you to make it easy for us to understand complex product offerings.
- A gratuitous Steve Jobs. But also a nugget of gold. The job of large B2B organisations is to WORK HARD at simplifying messages because it MOVES MOUNTAINS.
- How do you simplify your message? Next step is reduce friction across your business, particularly sales and marketing. How can you remove simple and complex hurdles between, say, an advertisement and the ability to buy that product?
- Google Analytics demonstrates the issue. We typically have to jump through too many hoops to get what we want. Many online forms, for example, require too much detail upfront. We lose massive amounts of traffic, engagement, and sales because we make people work too hard.
- Customer experience is only half of the story. We need to think about connecting the actual real-world customer experience (what it’s like to use a product or service) with sales and marketing.
- Research published in Smart Company, conducted by Walker, said this quote. My question to you: how can we look at the bigger marketing and communications sector through this lens? What can we learn from how customers actually feel about the product experience? What do the BELIEVE about the product? How can we ensure our stories, messages and campaigns are 100% aligned?
- Easy to say, hard to do.
- Here’s the split. In B2B, we’re typically all about Demographics. The big opportunity lies in the psychographics. These values and worldviews cut across age, gender etc. My Beliefonomics brand storytelling framework embeds our belief systems at the core of storytelling and change. When we truly understand the beliefs and value systems of customers, and our own organisation, it surfaces insights that transforms our storytelling, business strategy, and go-to-market plans. An extra step for B2B marketers is thinking about the ultimate beneficiary of any product or service, not your immediate customer. How does your service change things for the community, an industry, or individual people? We have to connect all our ideas, campaigns and tactics to the real-world impact on living, breathing humans!
- Sorry about the trump word! We’ve enjoyed understand the impact of TRUST on organisations for a few years now. It’s a important conversation, and won’t go away. However, before you can create trust you have to understand what people believe. Our beliefs inform, shape and govern virtually all our decision making – particularly when it comes to buying goods and services.
- Once we’ve understood customer beliefs, we then need to think about how the change. How do you move someone from UNBELIEF to BELIEF in, say, climate change? Google’s famed content marketing model – HYGIENE, HUB, HERO – illustrates the point. We need big HERO campaigns, or stories, that create a lasting halo over the rest of our activities. The set the tone, shape the messaging, and firmly anchor an idea in the minds of consumers. The Beliefonomics model goes a step deeper. By creating a Belief Moment, we embrace the power of logic through rational content and wrap it in the power of emotion – a well chosen, strategic decision about the best emotion from the spectrum of human experience.
- WATCH The Great Hack on Netflix as an example. Facts wrapped in emotion. It shifts people from one state of belief to another. For example. “I didn’t believe Facebook was acting in ways that were actually bad for the world. It was just all stories. Now I’ve see this documentary, I’m reconsidering my views. There are other actors out there exploiting our data on social media. I’m worried!”
- As a result, beliefs are starting to pop up on the radar for many brands. I’m starting to see Belief Statements surface in and around the classic About Us page. It’s time we did a better job of writing About Us stories, for a start. THEN let’s tackle this exciting opportunity to tell customers what we really believe.
- In closing, we need to simplify our jargon and the brand stories we tell. Lets modify Plato’s sentiment. We’re not about authoritarian rule. We’re about affecting real, lasting change. I believe a brand’s story is its greatest asset. And we, the storytellers, hold the key to making the biggest impact on the world because story is uniquely capable of changing how we think, feel and behave.
- Thank you. Let’s connect!