A new behavioural economics Slideshare from Earnest exploring why b2b buyers are less rational than you think - and why the micro-yesses matter more than ever. Get the Yes Factor.
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The YES Factor: How to persuade business buyers to say yes.
1.
2. In B2B marketing,
we’re in the business of
PERSUASION
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Image: Unsplash.com <Alejandro Escamilla>
3. Everyday we persuade people we often
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don’t know to:
Open our
emails
Visit our
websites
Download our
white papers
Watch our
videos
Follow us on
Twitter
And even once in a while, buy something
from us.
5. www.earnest-agency.com
The thing is:
“The buyers pipeline requires a
series of micro-yesses before
getting to that macro yes.”
YES
[Brandon Stamschrar, MECLABS]
8. www.earnest-agency.com
But when making micro-yesses
buyers don’t:
Evaluate all the options
Investigate each option fully
Apply everything they know
Assign a value and cost to
each option
Image: Unsplash <Dietmar Becker>
9. Because…
> They haven’t got the time
> They’re subject to biases
> They’re stifled by choice
> They’re inherently lazy thinkers
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And the
big one:
THEY
HATE
RISK
Image: Flickr <Creative Commons>
10. “When making any choice our first instinct is not
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to choose the ‘best answer’
but the answer which minimises the harm we
personally can suffer in the worst case outcome.”
[John Von Neumann via Rory Sutherland]
11. www.earnest-agency.com
Others call this
“SATISFICING”
(To Satisfy + Suffice)
CHANCE Where buyers opt for the
low risk, easy solution
rather than searching for
the best possible solution.
No
thanks
12. www.earnest-agency.com
And they’re not
even aware of it.
Because 85% of
decisions are made
by the unconscious
part of the
brain.
[Martin Lindstrom,
Buyology]
Image: Flickr <Creative Commons>
17. www.earnest-agency.com
FAST
Aka. System 1 or
Autopilot
• Operates automatically
• Assesses what’s going on
in our environment
• Determines whether we
should direct more
attention to a task
Image: Unsplash.com <Anna Dziubinska>
18. It helps us make
SNAP JUDGEMENTS
Serving as
OUR FILTER OF THE WORLD
P.S
It also determines
whether buyers pay
attention to your
communications
or not *
* Unfortunately typically not
19. Because without it, things
like this would kill us.
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Image: Unsplash.com <Thomas Lefebvre>
20. SLOW
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And then
there’s the
other way of
thinking…
Aka. System 2
or Pilot
Image: Unsplash.com <Todd Quackenbush>
23. But remember we’re
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LAZY THINKERS
(you, me & even your buyers)
so we try to make our lives
easier by substituting
difficult questions with
simpler ones
Image: Shutterstock
24. www.earnest-agency.com
So when it
comes to asking
the question:
Which of these
service providers
will do the best
job?
Buyers can
end up
asking:
Which of these
sales people do I
like the best?
Which of these
brands will my
boss have heard
of?
Isn’t it easier to go
with the guys we’ve
always used?
Image: Flickr <Creative Commons>
25. SYSTEM 2
As B2B marketers
we tend to design for
System 2, but it’s
POINTLESS
if we never break
through System 1.
Score:000
26. Especially when in most cases, people make
decisions like this…
System 1
Autopilot
System 2
Pilot
Input Decision
27. www.earnest-agency.com
The fact is even if you
sell something that’s
BIG,
COMPLEX and
CONSIDERED
you’ve got to break
through their System 1.
Image: Unsplash.com <Martin Wessely>
28. www.earnest-agency.com
Because if they don’t:
Open your emails
Download your content
Attend your events
Take your calls
The
Micro-
Yesses
You’re being filtered out
29. You need to make
first impressions
count
How long have you got?
Ad in popular magazines – 1.7 secs
Ad in trade journals – 3.2 secs
Poster – 1.5 secs
Mailing – 2 secs
Banner ad – 1 sec
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[Via Phil Barden, Decoded]
Image: Unsplash.com <Sonja Langford>
33. As the easiest thing in the world for
them is to:
DO
NOTHING
[Some call this Status Quo bias –
the fact is most people just hate
change]
Image: Unsplash.com<Caleb Thal> www.earnest-agency.com
35. Feels good
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What does EASY look like?
EASE
Feels familiar
Feels true
Feels effortless
Repeated experience
Clear display
Primed idea
Good mood
[Causes and Consequences of Cognitive Ease: Thinking, Fast and Slow]
37. www.earnest-agency.com
It’s all about
building…
FAMILIARITY and
FAVOURABILITY
[See it’s not going to kill you this time]
Image: Unsplash.com <Thomas Lefebvre>
38. And it’s why we prefer brands
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we KNOW
rather than
brands we’ve
NEVER heard of before
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Because the things
we are
MORE FAMILIAR
with are
EASIER TO PROCESS
“The experience of familiarity has
a simple but powerful quality of
‘pastness’ that seems to indicate
that it is a direct reflection of prior
experience.”
[Larry Jacoby]
Image: Unsplash.com <Griffin Keller>
40. www.earnest-agency.com
And simply being
EXPOSED to one
BRAND more than
another can have the
desired effect.
BRAND
BRAND
BRAND
BRAND
BRAND
BRAND
BRAND
BRAND
BRAND
41. Research shows that
people tend to develop a
PREFERENCE
for things simply because
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Research shows that
people tend to develop a
PREFERENCE
for things simply because
they are more
familiar with them.*
* The Mere Exposure Effect
[Robert Zajonc]
they are more
familiar with them.*
* The Mere Exposure Effect
[Robert Zajonc]
42. www.earnest-agency.com
Novel stimulus leads to a
fear and avoidance response.
But with
REPEATED EXPOSURE,
the stimulus causes less fear.
We even react fondly to it.
[Often without knowing it.]
43. Yet know one knows you.
[Even the one with the half baked offer.]
44. www.earnest-agency.com
The thing is in B2B,
brands are just about
equal in INFLUENCE
and only just behind price
and product.
Strong brands
outperform weak
brands by 20%.
[McKinsey]
Image: Unsplash<WojtekWitkowski>
45. This is where your content
marketing, search and social
media strategy could pay
dividends.
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CAN’T
AFFORD A
BIG BRAND
CAMPAIGN?
Making you visible. Useful.
Relevant.
Increasing your exposure.
Reducing cognitive strain.
Image: Flickr <Creative Commons>
46. What other ways can you make it EASY for buyers?
Make your
message
simple for
buyers to
understand
If you want to be
seen as credible
and intelligent,
don’t use
complex
language when
simpler language
will do.
[Want scientific proof?
Check out ‘Consequences of Erudite
Vernacular Utilized Irrespective of
Necessity:Problems with Using Long
Words Needlessly’ by Danny
Oppenheimer]
JARGON
47. Don’t
overload your
buyers with
too many
options.
Too much choice
is the same as no
choice at all.
[Barry Schwarz]
Aka.
Paradox of Choice
48. Be relevant.
Information that stands
out - and is novel and
salient - is more likely
to affect the way a
buyer thinks and acts.
[P Dolan, Mindspace]
49. Ensure a seamless
journey for buyers,
every step of the way.
X
X
X
Let people
accomplish tasks as
easily and directly
as possible.
[Don’t make me think: Steve Krug]
51. www.earnest-agency.com
Because they’re sure as hell not buying
your products or services for the sake of it.
They’re a means to an end.
“To understand people
one needs to
understand what leads
them to act as they do,
and to understand
what leads them to act
as they do one needs to
know their goals.”
[Motives and Cultural Models, edited by
Roy G. D'Andrade, Claudia Strauss]
Image: Unsplash.com <Daniel Ruswick>
52. And that end is
ultimately about
convincing them you
can satisfy their goals
more effectively than
your rivals.
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.
EXPLICIT
&
IMPLICIT
Image: Unsplash.com <Sunset Girl>
53. www.earnest-agency.com
Think of them like this…
EXPLICIT
goals
IMPLICIT
goals
CATEGORY
SPECIFIC
DRIVEN BY
ORGANISATION
NEED TO DEMONSTRATE YOU
CAN SATISFY THESE GOALS IN
ORDER TO COMPETE
BUYER
SPECIFIC
DRIVEN BY
INDIVIDUAL
USE TO DEMONSTRATE
YOUR OFFER AND BOOST
YOUR APPEAL
54. As B2B Marketers we tend to focus on the explicit goals.
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But there’s
only so far
promising to:
Transform their business
Deliver greater efficiency
Lower cost
Improve productivity
Increase revenue
Demonstrate ROI
& all that jazz will
take you
* Delete as appropriate
*
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Especially when every other chancer
in your market is professing to do
MUCH THE SAME
Albeit it a slightly different way.
Image: Unsplash.com <Brownie>
56. www.earnest-agency.com
That’s where being able to
satisfy not only their explicit
but also their implicit goals
can pay dividends.
The stuff that motivates
people PERSONALLY
(whether they know it or not)
Image: Unsplash.com <Timothy Muza>
57. www.earnest-agency.com
So what do these implicit goals look like?
Research
shows there
are two basic
motivational
drivers
PROMOTION
Emphasis =
> Gaining
> Benefiting
PREVENTION > Progressing in some way
Emphasis =
> Avoiding loss
> Protecting status quo
> Living up to expectation
58. Think about where your audience
It provides their
FRAME OF REFERENCE
and determines whether its
best to position what you have to
offer as avoiding loss or gain.
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is starting from.
What’s their anchor point?
60. …Adding another dimension to your personas that
can help inform and shape your
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messaging,
campaign
& content strategies?
Image: Unsplash.com <IlhamRahmansyah>
61. Implicit goals Primary driver Motivations Persona
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Progress
Recognition
Stimulation
Avoidance
Control
Obligation
PREVENTION PROMOTION
I need to do this to get
ahead
I need to do this to look
good
I need to do this to learn /
because it looks interesting
I need to do this to avoid
losing out / losing
something
I need to do this to stay in
control
I need to do this because
it’s expected of me
Gain an advantage over
others; Innovate; Lead
the field
Receive acclaim; Advance
career; Win
awards/accolades
Personal discovery; Learning
experience; Challenge myself;
Helping others
Be secure; Prevent losses;
Avoid threats
Stay on top; Maintain
status quo; Be
empowered
Need to comply; Fulfil
promises; Be true to my
word
Go-getter
Status
seeker
Adventurer
Worrier
Controller
Box-ticker
Earnest Goal Matrix: It’s yours to use and abuse
62. www.earnest-agency.com
Psst.
Different decision-makers and influencers
(even within the same organisation) will have
different motivations and biases.
Work to identify which personas they fit
– and tailor your story to hit the right
implicit & explicit goals.
64. You win by
differentiating
here…
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So when all your
competitors gather
here…
EXPLICIT
goals
IMPLICIT
goals
65. www.earnest-agency.com
“More C-Suite execs are increasingly
making decisions about technology
purchases they know nothing about.
As a result, many decision makers choose
suppliers based on personal value.”
[O&M, Admap]
Image: Unsplash.com <Liam Andrew>
66. www.earnest-agency.com
STILL NOT CONVINCED?
“Buyers who see personal value are not
only much more likely to purchase that
brand, they are even more likely to pay a
higher price.”
[CEB Marketing Leadership Council / Google 2013]
Image: Unsplash.com <Vladimir Kramer>
67. www.earnest-agency.com
Finally, never lose
sight of the influence
of others.
People (your buyers)
learn by copying
others.
Image: Unsplash.com <Jonas Nilsson Lee>
68. And it’s still true when
people buy things today.
They copy the behaviour
of others, as it reduces
perceived risk.
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When we were in fear of
predators, it allowed us to
determine what was safe
(and what wasn’t).
69. www.earnest-agency.com
It’s why the more:
> Case studies
> Client reference sites
> Testimonials
> Positive Reviews
> Followers
> Likes
> Shares
…you have,
YES
the more likely you are to
get even MORE.
Brandon Stamschrar, MECLABSAuthor of ‘Lead generation for the complex sale’http://b2bleadblog.com/2013/09
Brandon Stamschrar, MECLABSAuthor of ‘Lead generation for the complex sale’http://b2bleadblog.com/2013/09
http://www.spectator.co.uk/life/the-wiki-man/9212431/this-strategy-won-eurovision-it-could-also-save-your-life/
Author of ‘Lead generation for the complex sale’http://b2bleadblog.com/2013/09
Brandon Stamschrar, MECLABSAuthor of ‘Lead generation for the complex sale’http://b2bleadblog.com/2013/09