B2B had a notable presence at Cannes this year with a presentation by Linkedin that set the stage outlining the overall growth of the sector. The overall rise in B2B offerings brings with it an inevitable need to reach customers with breakthrough creative as the expectations of this segment become much more aligned with B2C audiences. The underlying thesis suggests that marketing in the B2B sector is begging for the creative chops that have, until now, been reserved for targeting consumers and with an increasing amount of B2B customers now part of Gen Z, the message is very well timed.
Delving further into the topic, WARC held a fascinating discussion on the B2B customer journey and how it differs quite significantly from B2C. Of note was a presentation by Professor Jenni Romaniuk, Associate Director at the Ehrenberg-Bass Institute with findings from new research coming out of Ehrenberg-Bass and the LinkedIn B2B Institute on how to invest effectively towards the B2B audience. The discussion highlighted the fact that of the universe of potential customers for a B2B product or service, only an estimated 5% are in-market at any given moment. The remaining 95% will at some point transition to in-market but historically, advertising has not reflected this critical reality about nuanced messaging required for the two segments.
Romaniuk explained that there are several entry points of transition that the 95% will take as they come online into market and urged planners to consider a broad approach to cover those entry points with appropriate ad strategies. The presentation provided great food for thought and spoke to the science behind developing always-on media strategy for a segment that could certainly use refinement.
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