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Unlock the Future: Thrive in the Peerbound Era of B2B Buying
+ Ungating + The Media-First Content Revolution
Hello and welcome to the 103rd edition of Fresh Salmon.
It is my pleasure to have you here, and if you wish to read past issues, here they are.
Fresh Salmon is one of the fastest growing B2B newsletters, thanks to your continued support and trust.
Today, I wish to share with you three core beliefs that will enable you to stand out, grow, and become a market leader. Now let's get started.
Unlock the Future: Thrive in the Peerbound Era of B2B Buying
There is a story unfolding in the grand bazaar of B2B commerce.
The B2B world is filled with complexity, where the stakes are high and the wrong choice could send a business spiraling into missed opportunities and lost revenue.
The path between B2B brands and their noble buyers used to be a straight one, guided by the trusty hands of salespeople and marketers.
However, a chasm has opened up, one that is vast and deep. A mere 3% of buyers look upon these guides with confidence, an amount so insignificant that a minstrel might weep.
Ah, but hark!
With the advent of the digital age, the landscape has taken on a new perspective.
A staggering 70% of B2B buyers embark on their quest alone, before ever calling upon a sales representative to join their journey.
And there's more. Almost half of these adventurers pinpoint the exact elixirs and artifacts they seek without speaking to a seller.
We seem to be living in an age of discovery. The vast expanse of online scrolls and digital times, however, conceals a shadow.
Although information and ratings are plentiful, they serve only as a guide. They do not have the warmth and reassurance of a peer who has faced the dragon and survived.
We’re living in the “Peerbound” world today.
This is the crux of B2B Buyer’s story. It is the voice of a peer that cuts through the noise when the dust settles and the choices loom large.
It is estimated that 90% of B2B buying decisions are influenced by those who have already walked the path.
Thus, we find ourselves on the brink of a new era, gazing into the horizon, pondering the question of how to thrive in this Peerbound world.
The quest for connection, for genuine, peer-driven insight, is the beacon that will guide us through this uncharted world of B2B buying.
We live in a world where peer recommendations, and vibrant online communities carry immense weight. It's no longer just about what you say; it's about how others perceive you.
B2B companies need to recognize these touchpoints and strategically position their information where it matters most.
Think about it. When your buyers seek advice from peers, access public communities, or interact with satisfied customers, they should find your brand's information at every turn.
You want to be the guiding light that illuminates their path to a purchasing decision.
Redefine the Game - Ungate
70% of B2B buyers fully define their needs on their own before engaging with a sales representative.
Now, let that sink in for a moment.
This single piece of information has the potential to revolutionize your approach to the buyer's journey.
So, grab a seat, lean in, and let's dive deep into the crucial elements that can make or break your success.
We need to acknowledge that the ability to gather all the necessary information about a product or solution online is now a prerequisite — a mere table stake in the B2B game.
Gone are the days when buyers relied solely on sales reps to feed them every morsel of knowledge. In this digital era, B2B companies must embrace the idea of "ungating" their assets. What does that mean?
It means giving buyers unrestricted access to all the relevant information they need to make informed decisions.
By understanding these touch points and leveraging them to your advantage, you position yourself as a trusted and influential presence throughout the buyer's journey.
It's time to expand our horizons and look beyond old school lead-gen strategies. The buyer's journey is a vast landscape, and we need to explore every nook and cranny to truly connect with our prospects. This is how we win in the B2B game.
The Media-First Content Revolution
It's time to morph your B2B marketing into a media powerhouse. The world is shifting from text to multimedia, and you need to be at the forefront.
Think beyond demand generation. Engage, educate, entertain.
Build a brand that resonates so deeply that when the time comes, you're the first name on your audience's mind.
The industry is buzzing about turning company marketing into a media company approach, particularly for B2B.
This is obviously not a new approach to marketing. For years, media companies have built large audiences all over the world.
Media companies have been embracing emerging mediums like videos, podcasts, and others, they are building and engaging their subscriber base.
By carefully distributing into channels they control themselves, they can access first-party engagement data to leverage their competitive advantage.
Thanks to the pandemic, many B2B companies used this opportunity to create media marketing in-house. A shift from traditional marketing to media strategy.
Media is that strategy.
Why?
The landscape for content distribution has been disrupted by the advancement of mobile technologies.
Besides written content, consumers are now consuming long- and short-form videos, podcasts, live streams, etc.
Multimedia content distribution channels have been bolstered by the shift from text consumption to media consumption among the general population.
Text-based content and SEO are no longer competitive enough to get the audience reach.
Innovative companies are acquiring media companies and building media operations within their businesses to stay ahead of the curve.
In the near future, every company will be creating educational and inspirational content for their target audience that goes beyond text-based content.
It’s a move to think beyond Demand Generation, and not just focus on capturing the 5% of people who are in the market to buy your product.
Rather it is Edutainment (Education + Entertainment) at a scale, and you are building a larger audience that goes way deeper into the 95% who are not yet ready to buy but have established a solid brand affinity with you.
This way you are securing a spot in the buyer’s mind, and when they are ready they are compelled to reach out to you.
Interesting Thing That I Read This Week
Is it B2B or Me-2-Me?? 😂
Tweet That I Noticed This Week
Scott spitting some 🔥🔥🔥
What Do You Think?
This concludes this edition of Fresh Salmon.
I would like to hear what you thought of today's newsletter.
Cheers,
Vivek
PS. I love you ❤️