71% of B2B ads are a waste of money, zero attention, zero sales: Why marketers should forget voiceovers and heavy text – and get the logo in much earlier
What you need to know:
- Creative is the single biggest factor that marketers can control in delivering growth from ads, beating targeting, optimisation – everything bar brand size, according to LinkedIn Institute’s Derek Yueh.
- Yet advertisers are getting creative wrong in their ads, resulting in poor effectiveness. 71 per cent of 600 ads studied had almost no chance of delivering growth.
- That’s because they tended to use the same formula: lots of text, a voiceover and a logo at the end.
- Brands need to get back to basics: Tell good stories, aim for memories over clicks, and weave the brand into those stories far more often – and much earlier.
Almost three quarters of B2B ads are effectively money down the drain. According to a study of 600 ads by the LinkedIn-backed B2B Institute, 71 per cent are likely to generate no sales. That’s because they are boring, formulaic, under-branded and have brand calls in the wrong places.
Derek Yueh, Partnership Lead at the B2B Institute, said B2B marketers should forget voiceovers and heavy text and start concentrating on story arcs, characters and everyday settings – while packing in brand cues early and often.
Speaking at the B2B Next conference in Sydney, Yueh cited research from Dentsu-owned Data2Decisions that suggests the most important element in driving returns from advertising is brand size and market share – over which marketers have no direct control. But the second most important aspect is creative execution, which is squarely within marketers’ power.
Yueh also cited Nielsen research which found creative, at 47 per cent, is the single biggest contributory factor to driving sales from advertising, alongside an Ehrenberg-Bass Institute paper which finds that great creative can drive 10-20 times more sales than mediocre creative.
“Basically … even if you optimise all the other elements of your ad campaign: If you find the best targeting, if you try to maximise reach, it ultimately doesn’t matter if your creative isn’t resonating with your audience,” was Yueh’s interpretation. “So in other words, if you can’t get your creative right, nothing else really matters.”
Aim for memorability, not clicks
Almost all B2B customers are out of market at any one time, per the 95:5 rule. Developed by the LinkedIn-funded B2B Institute with Professor John Dawes at the Ehrenberg-Bass Institute, the rule states that sales should focus on the five per cent of in-market customers and marketing on the remaining 95 per cent.
So instead of trying to generate clicks and leads, B2B ads should build memory structures to drive future sales and ensure the brand is top of mind when the buyer eventually comes to market.
The problem is, most B2B ads take the exact opposite approach. Yueh said marketers and agencies must flip priorities for their creative to succeed. Currently, the vast majority are “ad backwards”, he stated.
Read the full article in Mi3.