Is B2B marketing a niche discipline?

Is B2B marketing a niche discipline? When you consider that 80% of UK companies derive some of their income from B2B activity, then the answer should clearly be no. 

In fact, B2B accounted for 44%, or £1.7tn, of UK business turnover and £21.78bn in Corporation Tax in 2019. At that time, over 50% of FTSE 350 companies were 'pure' B2B businesses and, unlike B2C, the UK enjoyed a global trade surplus in B2B activity. 

Yes, B2C marketing is highly visible in comparison but that does not diminish the important role of B2B marketing in driving sustainable growth

Fundamental Attribution Error and misguided big budget B2B marketing

 ‘Fundamental Attribution Error’ means we naturally overestimate a person’s disposition on their behaviours and underestimate the impact of their situation.

B2B Prospects don’t switch from an incumbent supplier or risk their Status Quo simply because they’re an ABC1 adult and have overheard your Retail campaign. They want to know whether their current situation puts them at risk and whether they should do something different to preserve their best interest.

You can target messages to each individual’s disposition (job title, function, responsibilities), but that won’t typically motivate them to make a change. The real drivers behind behaviour change are the challenges within a #b2b buyer’s situation or business context.

Don't focus on job titles or personas unless you also plan to speak to their situation. Help your buyers understand how your offering matches their business context, for example, how they can mitigate a risk that they haven’t yet spotted.

Why emotion and brand are more important in B2B marketing than in B2C

Emotion and brand are more important in B2B marketing than in B2C. Why? Because the stakes are higher. 

Imagine you’re choosing your morning coffee. You have 2 choices - grab one from Starbucks or grab a McCafe. Now imagine you’re making that same decision on behalf of your whole company and that they will have to live with your choice every day for the next 3 years. That is the reality of making B2B purchase decisions. 

Choosing a partner, a piece of software or hardware - any investment decision for that matter involves risk, especially when you consider your internal reputation and career prospects are potentially on the line. Typically these aren’t low-risk, impulse purchases that can be forgotten about tomorrow or returned easily with no downside or contractual clauses to wriggle out of.

B2B marketers often think their customers are obsessed with specifications, pricing and making objective decisions. According to a study by System1 Research, this is the focus for 77% of B2B ads. In reality, there are emotions at play and the riskier the decision, the more we tend to rely on our emotions, instincts and memories to make it.