Marketers have traditionally focused on selling the benefits of a product, detailing functionality and demonstrating strengths over the competition. But in a competitive and abundant market place, there’s an opportunity to compete on something more distinctive: not what you are selling, but who you are.
In B2B, it’s often a case of ‘you don’t sell, they buy’. If they – your customer – can’t understand who you are, then no matter what you are selling, you’ll struggle unless you have a truly disruptively superior product. They may defer to rational reasons for the reason they went to the competitor, but the truth is far more human than that – the customer is interested in what you’re thinking, your personality and your ethos.
Jeff Ernst of Forrester suggested in a recent post that your products are not as unique as you think: “Marketers have to realize that in the age of the customer, business buyers don’t ‘buy’ your product; they ‘buy into’ your approach to solving their problem”.
Behavioural economics tell us hugely powerful active emotional triggers revolve around trust and uncertainty – and when you are selling an experience, which is what most B2B sales are, you must use trust to overcome uncertainty. Not facts about what your product does, or an explanation of how it works, but trust about you as a brand. Using facts to try and overcome uncertainty is akin to persuading someone to like you by quoting your Facebook statistics. Would you do that?!
Communicating who you are might sound easy if you’re a small business but where do you start if you’re a big corporation? It starts with telling your story, tapping into your raison d’etre, your philosophy, your culture. It’s about developing a strategy for thought leadership storytelling that sets you apart by your vision and ideas.
Thought leadership is a grown-up way of describing this most powerful of persuasions – story telling – giving the listener value, entertainment, and a plot that’s relevant, insightful and memorable.
That is what makes your business unique. So don’t tell the marketplace how awesome your product is, instead put the spotlight on thought leadership and tell them what you’re thinking.