Digital Kungfu

Storytelling

The reason 50% of B2B buyers will be more likely to purchase your product

B2B buyers are nearly 50% more likely to purchase when they see personal value in a product. Not only that, but they’re far more likely than B2C buyers to have an emotional connection to their vendors and service providers.

This research isn’t new. In 2013, Google and CEB’s Marketing Leadership Council partnered with research firm Motista to uncover the reality of B2B marketing and its effectiveness.

And yet even though these findings are not new (ancient even, in the world of tech), they not only remain true today, but so few companies are able to tap into the human side of their B2B customers.

Shifting mindsets and educating B2B customers

At Digital Kungfu, we focus on helping tech companies share their stories. In our experience, most technology solution providers face two key challenges. First, their customers don’t understand what they do, and second, those same customers are resistant to change.

Shifting their mindset and educating them on what’s available and how it will solve their problems is critical – which is where storytelling comes in.

B2B customers want to know that you understand the pain they’re going through. The ability to do this not only builds trust, but if done right it provides proof points that minimize the risks of change.

The reality is that most tech companies either rely on first mover advantage, or they’re trying to prove that their solution is different. The problem is that this rarely works – especially in technology-driven markets like IT services.

It’s one thing to market a problem that the market doesn’t know it has yet, but it’s an entirely different challenge if the market isn’t ready to pay for the solution you’re offering to that problem.

We’ve seen this first-hand with many of our reseller clients who specialise in Cloud services. One of the biggest challenges they face is switching their customers from on-premises servers to the Cloud. Businesses still prefer to sweat the tin servers they have on-site instead of moving over to significantly more efficient solutions like Microsoft Azure or Amazon Web Services (AWS). Why? There’s a risk to change, and they aren’t comfortable trusting the new solutions on offer.

Address pain points and build trust

The good news for these resellers is that the Cloud services space is evolving quickly. Microsoft is imminently going to release two new data centers in South Africa, which will open a radically different market opportunity for distributors and resellers alike, mainly because local companies will finally be able to use Azure without the constraints of sending sensitive customer information and business data to data centers held outside of South Africa.

It’s a game changer, except many non-tech-based businesses either don’t trust or don’t understand what this development means.

There are approximately 3 000 companies in South Africa that are resellers of Azure. The organisations that can effectively educate their markets will be well-positioned to grow their market share – provided they can move quickly, address their customers’ pain points and build trust.

Making the complex simple, understandable and relatable

This is where market education comes into play. The problem is that it’s very difficult to educate a market in the real-estate of a single advert.

Businesses need to consider which mediums most lend themselves to education and then they need to execute a compelling story on that medium.

Stories are designed to make something complex, like Azure’s offering, simple, understandable and relatable. They do this by creating a compelling vision around why and how Azure can change a customer’s business today – not tomorrow. In short, the hero of the story is the customer – not the product’s features and benefits.

We’ve learnt that there are three key components to creating a compelling story that B2B customers respond to.

Telling your story

If you’re playing in a competitive tech landscape with customers who either don’t understand your offering or don’t think they should care, you need to tell your story.

Stories are not only compelling, but they build trust.

They reveal how well you understand your customers, their needs and challenges, and link your existence to their own. In short, storytelling is one clear way to differentiate yourself.

In the news

Digital Kungfu - Expands into the UK

After generating sales qualified leads in excess of £12 million in under 12 months for its clients in Africa, Digital Kungfu is launching in the UK.

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Making the complex simple, understandable and relatable

This is where market education comes into play. The problem is that it’s very difficult to educate a market in the real-estate of a single advert.

Businesses need to consider which mediums most lend themselves to education and then they need to execute a compelling story on that medium.

Stories are designed to make something complex, like Azure’s offering, simple, understandable and relatable. They do this by creating a compelling vision around why and how Azure can change a customer’s business today – not tomorrow. In short, the hero of the story is the customer – not the product’s features and benefits.

We’ve learnt that there are three key components to creating a compelling story that B2B customers respond to.

Digital Kungfu - The reason 50% of B2B buyers will be more likely to purchase your product

Telling your story

If you’re playing in a competitive tech landscape with customers who either don’t understand your offering or don’t think they should care, you need to tell your story.

Stories are not only compelling, but they build trust.

They reveal how well you understand your customers, their needs and challenges, and link your existence to their own. In short, storytelling is one clear way to differentiate yourself.

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