Adopt the 95:5 Marketing Rule. Establish Segment Authority. Make Peace With Long-Term Results.
B2B marketers in niche industries face a distinct challenge: their small and specific target audiences make it difficult to identify prospects actively looking to make a purchase at any given moment. This reality complicates efforts to drive short-term sales results. Herein lies the critical importance of adopting the 95:5 rule in digital media planning for niche B2B segments.
The 95:5 rule posits that at any given time, only about 5% of your target market is actively seeking to make a purchase, while the remaining 95% are not. For niche industries, this means that a tiny fraction of an already small audience is in the buying phase at any one time. Therefore, it is essential for B2B marketers in niche industries to focus on engaging the entire target market rather than just those ready to buy.
This rule underscores the importance of adopting long-term brand and relationship building activities to remain top-of-mind rather than focusing on conversion messaging designed to sell. In niche industries, Establishing Segment Authority should be the key brand focus, crucial for building not only awareness but credibility & trust before the purchasing decision is made.
Segment Authority can be achieved by demonstrating a deep understanding of industry challenges and showcasing company smarts & capabilities to provide effective solutions. By consistently sharing valuable insights, expert opinions, and innovative solutions will work to establish credibility and trust with key audiences. Such a strategy not only differentiates the brand from competitors but also fosters long-term relationships with potential clients, who will view the brand as a go-to resource for knowledge and expertise. Establishing segment authority will significantly influence purchasing decisions when the target segment is ready to buy.
Important to note that this approach demands a high level of patience and persistence, as immediate sales results are not apparent. In niche markets, quick wins are uncommon & recognising that success is a marathon, not a sprint, helps in setting realistic expectations for the business. This is a long term strategy that will provide sustainable, consistent & lasting business results.
